A Business at a Glance
0 of 5 daily views used (5 remaining). Sign up free for 10 daily views, or try AAPL for a full preview.
Table of Contents Alkami is a cloud-based digital sales and service platform provider. We inspire and empower community, regional and super-regional financial institutions (“FIs”) to compete with large, technologically advanced and well-resourced banks in the United States. Our solution, the Alkami Digital Sales & Service Platform, consisting of the Alkami Digital Banking Platform (“Platform”), Onboarding & Account Opening, and Data & Marketing, allows FIs to onboard, engage and grow new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture. We cultivate deep relationships with our clients through long-term, subscription-based contractual arrangements, aligning our growth with our clients’ success and generating an attractive unit economic model. We founded Alkami to help level the playing field for FIs.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 444M | 444M | 334M | 265M | 204M | 152M |
| Net Income | -48M | -48M | -41M | -63M | -59M | -47M |
| EPS | $-0.46 | $-0.46 | $-0.41 | $-0.67 | $-0.64 | $-0.73 |
| Free Cash Flow | 41M | 41M | 17M | -19M | -39M | -30M |
| ROIC | -6.4% | -9.0% | -11.4% | -19.4% | -14.1% | -12.8% |
| Gross Margin | 57.8% | 57.8% | 58.9% | 54.4% | 53.0% | 55.1% |
| Debt/Equity | 1.02 | 1.02 | 0.05 | 0.06 | 0.32 | 0.08 |
| Dividends/Share | $0.00 | - | - | $0.00 | $0.00 | $0.08 |
| Operating Income | -54M | -54M | -45M | -64M | -58M | -43M |
| Operating Margin | -12.1% | -12.1% | -13.4% | -24.1% | -28.2% | -28.2% |
| ROE | -13.2% | -13.3% | -11.4% | -19.4% | -17.5% | -13.7% |
| Shares Outstanding | 104M | 104M | 100M | 94M | 92M | 65M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 112M | 152M | 204M | 265M | 334M | 444M | 444M |
| Gross Margin | 52.8% | 55.1% | 53.0% | 54.4% | 58.9% | 57.8% | 57.8% |
| R&D | 40M | 49M | 69M | 85M | 96M | 118M | 118M |
| SG&A | 37M | 50M | 71M | 73M | 84M | 101M | 101M |
| EBIT | -35M | -43M | -58M | -64M | -45M | -54M | -54M |
| Op. Margin | -31.3% | -28.2% | -28.2% | -24.1% | -13.4% | -12.1% | -12.1% |
| Net Income | -57M | -47M | -59M | -63M | -41M | -48M | -48M |
| Net Margin | -50.5% | -31.0% | -28.7% | -23.8% | -12.2% | -10.7% | -10.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 1.7M | 1.7M |
| Returns on Capital | |||||||
| ROIC | -14.1% | -12.8% | -14.1% | -19.4% | -11.4% | -9.0% | -6.4% |
| ROE | N/A | -13.7% | -17.5% | -19.4% | -11.4% | -13.3% | -13.2% |
| ROA | -22.7% | -10.8% | -12.0% | -15.7% | -9.3% | -7.4% | -5.6% |
| Cash Flow | |||||||
| Op. Cash Flow | -38M | -29M | -38M | -18M | 19M | 43M | 43M |
| Free Cash Flow | -40M | -30M | -39M | -19M | 17M | 41M | 41M |
| Owner Earnings | -43M | -47M | -91M | -79M | -51M | -60M | -60M |
| CapEx | 2.1M | 1.1M | 1.1M | 1.1M | 1.2M | 1.5M | 1.5M |
| Maint. CapEx | 2.8M | 3.4M | 8.1M | 11M | 11M | 27M | 27M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 2.8M | 3.4M | 8.1M | 11M | 11M | 27M | 27M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 6.4% | 3.6% | 3.6% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 5.0M | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | 0.3% | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 3.2M | 3.5M | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.3% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.0M | 15M | 45M | 51M | 59M | 76M | 76M |
| Debt Repayment | 0 | 313K | 25M | 85M | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | -308M | -282M | -89M | -63M | -170M | 242M | 305M |
| Cash & Equiv. | 167M | 309M | 109M | 41M | 94M | 63M | 63M |
| Long-Term Debt | 25M | 23M | 81M | 0 | 0 | 336M | 336M |
| Debt/Equity | -0.10 | 0.08 | 0.32 | 0.06 | 0.05 | 1.02 | 1.02 |
| Interest Coverage | -71.8 | -36.2 | -15.0 | -8.6 | -96.8 | -5.7 | -5.7 |
| Equity | -264M | 345M | 334M | 325M | 357M | 362M | 362M |
| Total Assets | 249M | 437M | 489M | 400M | 437M | 847M | 847M |
| Total Liabilities | 69M | 92M | 155M | 75M | 80M | 485M | 485M |
| Intangibles | 8.3M | 11M | 43M | 36M | 29M | 159M | 159M |
| Retained Earnings | -264M | -314M | -372M | -435M | -476M | -524M | -524M |
| Working Capital | 173M | 312M | 201M | 109M | 136M | 98M | 98M |
| Current Assets | 193M | 345M | 242M | 149M | 181M | 187M | 187M |
| Current Liabilities | 20M | 33M | 42M | 39M | 46M | 90M | 90M |
| Per Share Data | |||||||
| EPS | -11.78 | -0.73 | -0.64 | -0.67 | -0.41 | -0.46 | -0.46 |
| Owner EPS | -0.48 | -0.73 | -0.99 | -0.85 | -0.52 | -0.58 | -0.58 |
| Book Value | -2.92 | 5.34 | 3.65 | 3.46 | 3.58 | 3.49 | 3.49 |
| Cash Flow/Share | -0.42 | -0.45 | -0.42 | -0.19 | 0.19 | 0.41 | -0.20 |
| Dividends/Share | 0.00 | 0.08 | 0.00 | 0.00 | N/A | N/A | 0.00 |
| Shares Out. | 90.2M | 64.5M | 91.6M | 93.9M | 99.6M | 103.6M | 103.6M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -35.3 |
| P/FCF | N/A | N/A | N/A | N/A | 220.5 | 58.0 | 40.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.8 | 3.7 | 7.1 | 10.7 | 6.6 | 4.6 |
| Price/Sales | N/A | 13.0 | 6.4 | 5.9 | 8.9 | 6.2 | 3.8 |
| FCF Yield | N/A | -2.3% | -3.2% | -0.8% | 0.5% | 1.7% | 2.5% |
| Market Cap | N/A | 1.3B | 1.2B | 2.3B | 3.8B | 2.4B | 1.7B |
| Avg. Price | N/A | 30.57 | 14.20 | 16.51 | 29.82 | 26.76 | 16.24 |
| Year-End Price | N/A | 20.03 | 13.55 | 24.41 | 38.53 | 23.14 | 16.24 |
ALKAMI TECHNOLOGY, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 41.7x vs a median of 58.0x. The company's 5-year average gross margin is 55.9%. At current prices, the estimated annualized return to fair value is +79.6%.
ALKAMI TECHNOLOGY, INC. (ALKT) has a 5-year average return on invested capital (ROIC) of -13.3%. This is below average and may indicate limited pricing power.
ALKAMI TECHNOLOGY, INC. (ALKT) has a market capitalization of $1.7B. It is classified as a small-cap stock.
ALKAMI TECHNOLOGY, INC. (ALKT) does not currently pay a regular dividend.
ALKAMI TECHNOLOGY, INC. (ALKT) operates in the Services-Prepackaged Software industry, within the Technology sector.
ALKAMI TECHNOLOGY, INC. (ALKT) reported annual revenue of $444 million in its most recent fiscal year, based on SEC EDGAR filings.
ALKAMI TECHNOLOGY, INC. (ALKT) has a net profit margin of -10.7%. The company is currently unprofitable.
ALKAMI TECHNOLOGY, INC. (ALKT) generated $41 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ALKAMI TECHNOLOGY, INC. (ALKT) has a debt-to-equity ratio of 1.02. This indicates moderate leverage.
ALKAMI TECHNOLOGY, INC. (ALKT) reported earnings per share (EPS) of $-0.46 in its most recent fiscal year.
ALKAMI TECHNOLOGY, INC. (ALKT) has a return on equity (ROE) of -13.3%. A negative ROE may indicate losses or negative equity.
ALKAMI TECHNOLOGY, INC. (ALKT) has a 5-year average gross margin of 55.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for ALKAMI TECHNOLOGY, INC. (ALKT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ALKAMI TECHNOLOGY, INC. (ALKT) has a book value per share of $3.49, based on its most recent annual SEC filing.