Financial Performance - Total revenues for the three months ended September 30, 2024, were $85.9 million, a 26.9% increase from $67.7 million in the same period of 2023[71]. - For the nine months ended September 30, 2024, total revenues were $244.2 million, representing a 26.2% increase from $193.5 million in the same period of 2023[71]. - Revenues for the three months ended September 30, 2024, were $85.9 million, an increase of $18.2 million or 26.9% compared to $67.7 million in 2023[98]. - Revenues for the nine months ended September 30, 2024, were $244.2 million, an increase of $50.7 million or 26.2% compared to $193.5 million in 2023[98]. - SaaS subscription revenues accounted for 95.5% of total revenues for the three months ended September 30, 2024, compared to 95.7% in the same period of 2023[71]. - SaaS subscription services revenue for the nine months ended September 30, 2024, was $233,437,000, up 27% from $183,446,000 in 2023[80]. - Adjusted EBITDA for the three months ended September 30, 2024, was $8,318,000, compared to $826,000 in the same period of 2023[93]. - Adjusted EBITDA for the three and nine months ended September 30, 2024, was $8.3 million and $16.7 million, respectively, compared to $0.8 million and $(4.6) million for the same periods in 2023[94]. Expenses - The company incurred net losses of $9.4 million and $33.2 million for the three and nine months ended September 30, 2024, respectively[71]. - Research and development expenses represented 28.1% of revenues for the three months ended September 30, 2024[77]. - Research and development expenses for the three months ended September 30, 2024, were $24,133,000, an increase from $21,755,000 in 2023[91]. - Sales and marketing expenses for the nine months ended September 30, 2024, totaled $45,213,000, up from $36,694,000 in 2023[91]. - Sales and marketing expenses increased by $2.5 million or 20.7% for the three months ended September 30, 2024, driven by higher personnel-related costs[108]. - General and administrative expenses increased by $3.9 million or 21.1% for the three months ended September 30, 2024, mainly due to higher personnel-related and software costs[110]. - Cost of revenues for the three months ended September 30, 2024, was $35,289,000, up from $31,153,000 in 2023[91]. - Cost of revenues increased by $4.1 million or 13.3% for the three months ended September 30, 2024, leading to a gross margin of 58.9%, up from 54.0% in 2023[102]. Client Metrics - As of September 30, 2024, Alkami served 266 financial institutions (FIs) through its Digital Banking Platform[74]. - Client renewals for the three and nine months ended September 30, 2024, were 14 and 26, respectively[76]. - Annual Recurring Revenue (ARR) increased to $342.1 million as of September 30, 2024, up $67.1 million or 24.4% from $275.0 million in 2023[95]. - Registered users grew to 19.5 million as of September 30, 2024, an increase of 2.6 million or 15.4% from 16.9 million in 2023[96]. - Revenue per Registered User (RPU) increased to $17.54 as of September 30, 2024, up $1.26 or 7.7% from $16.28 in 2023[97]. Cash Flow and Financing - Net cash provided by operating activities for the nine months ended September 30, 2024, was $12.5 million, compared to a net cash used of $12.2 million for the same period in 2023[121][122]. - Net cash provided by investing activities was $26.0 million for the nine months ended September 30, 2024, compared to a net cash used of $16.4 million for the same period in 2023[124][125]. - Net cash provided by financing activities was $1.5 million for the nine months ended September 30, 2024, compared to a net cash used of $4.8 million for the same period in 2023[126][127]. - As of September 30, 2024, the company had $101.0 million in cash and cash equivalents and marketable securities, with an accumulated deficit of $468.6 million[118]. - The company entered into a Second Amendment to its Amended Credit Agreement, increasing the Revolving Facility commitment by $65.0 million to a total of $125.0 million[128]. - The company has no outstanding borrowings related to the Amended Credit Agreement as of September 30, 2024[128]. - Total interest expense for the nine months ended September 30, 2024, was $0.3 million, a decrease from $5.5 million for the same period in 2023[133]. - The company was in compliance with all covenants under the Amended Credit Agreement as of September 30, 2024[132]. Future Outlook - The company expects to continue increasing investments in implementation, client support teams, and technology infrastructure to support growth[83]. - The effective tax rate is impacted by a valuation allowance against deferred tax assets, primarily consisting of state income taxes and deferred taxes related to acquired goodwill[90]. - The company is expected to cease qualifying as an emerging growth company as of December 31, 2024, based on the market value of its common stock held by non-affiliates[141].

Alkami Technology, Inc. (NASDAQ:ALKT) Q3 2024 Earnings Call Transcript October 30, 2024 5:00 PM ET Company Participants Steve Calk - Vice President, Investor Relations Alex Shootman - Chief Executive Officer Bryan Hill - Chief Financial Officer Conference Call Participants Elyse Kanner - JPMorgan Austin Cole - Citizens JMP Cris Kennedy - William Blair Daniel Hibshman - Craig Hallum Adam Hotchkiss - Goldman Sachs Charles Nabhan - Stephens Sam Salvas - Needham & Company Jacob Stephan - Lake Street Capital Mar ...

Alkami Technology (ALKT) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this provider of digital banking services would post earnings of $0.02 per share when it actually produced earnings of $0.04, delivering a surprise of 100%.Over the last f ...

Exhibit 99.1 Alkami Announces Third Quarter 2024 Financial Results PLANO, Texas, October 30, 2024 (PRNewswire) -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced results for its third quarter ending September 30, 2024. Third Quarter 2024 Financial Highlights • GAAP total revenue of $85.9 million, an increase of 26.9% compared to the year-ago quarter; • GAAP gross margin of 58.9%, compared to 5 ...

PLANO, Texas, Oct. 30, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced results for its third quarter ending September 30, 2024. Third Quarter 2024 Financial Highlights GAAP total revenue of $85.9 million, an increase of 26.9% compared to the year-ago quarter; GAAP gross margin of 58.9%, compared to 54.0% in the year-ago quarter; Non-GAAP gross margin of 62.8%, compared to ...

Industry experts unveil strategies in webinar to tackle emerging fraud threats as real-time payments surge and check fraud remains a leading riskPLANO, Texas, Oct. 23, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., recently held its latest webinar, "Banking on Security: Check & Real-Time Payments Fraud," aimed at helping financial institutions address emerging fraud threats that are incr ...

Alkami received The Big Bank Theory Award for delivering a superior mobile banking platform and industry-leading UX powered by dataPLANO, Texas, Oct. 17, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced that it was named the 2024 winner in The Big Bank Theory Awards by Tearsheet for the category of "Best Banking App." Tearsheet's premier awards program, The Big Bank Theory Awards ...

PLANO, Texas, Oct. 17, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced that it plans to report financial results for its third quarter ended September 30, 2024 on Wednesday, October 30, 2024, after the market close.Alkami will host a conference call at 5:00 p.m. ET the same day to discuss its financial results with investors. A live webcast of the event will be available o ...

The Connecticut-based credit union will deliver Alkami's personalized product and service suite to its membershipPLANO, Texas, Oct. 16, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced today Nutmeg State Financial Credit Union has launched the latest version of its digital banking services with the Alkami Digital Banking Platform. The credit union's members now have access to a w ...

Three key plays are outlined to help grow business and digitally maturePLANO, Texas, Oct. 9, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced the launch of "The 2025 Digital Banking Playbook: Budgeting & Strategies for Banks and Credit Unions," a comprehensive guide of strategies and research findings designed to help financial institutions navigate the year ahead. The annu ...