ALKAMI TECHNOLOGY, INC. ALKT
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $443.6M | $333.8M | $264.8M | $204.3M | $152.2M | $112.1M | $73.5M | — |
| Cost of revenue | $187.0M | $137.2M | $120.7M | $95.9M | $68.4M | $53.0M | $43.1M | — |
| Gross profit | $256.6M | $196.6M | $144.1M | $108.3M | $83.8M | $59.2M | $30.4M | — |
| R&D | $118.4M | $96.2M | $84.7M | $69.3M | $48.8M | $40.2M | $32.7M | — |
| SG&A | $100.9M | $83.7M | $72.9M | $71.2M | $50.4M | $36.4M | $24.9M | — |
| Total operating expenses | $310.2M | $241.3M | $207.8M | $166.0M | $126.7M | $94.3M | $73.0M | — |
| Operating income | -$53.6M | -$44.6M | -$63.7M | -$57.7M | -$42.9M | -$35.1M | -$42.5M | — |
| Interest expense | $9.5M | $461.0K | $7.4M | $3.9M | $1.2M | $489.0K | $110.0K | — |
| Pre-tax income | -$59.0M | -$40.5M | -$62.9M | -$59.1M | -$46.6M | -$51.4M | -$41.9M | — |
| Income tax | $11.3M | $308.0K | $44.0K | $461.0K | $172.0K | $0 | $0 | — |
| Net income | -$47.7M | -$40.8M | -$62.9M | -$58.6M | -$46.8M | -$51.4M | -$41.9M | — |
| EPS, basic | -0.46 | -0.41 | -0.67 | -0.64 | -0.73 | -11.78 | -9.91 | — |
| EPS, diluted | -0.46 | -0.41 | -0.67 | -0.64 | -0.73 | -11.78 | -9.91 | — |
| Shares, diluted (wtd. avg.) | $103.9M | $98.9M | $94.1M | $91.0M | $64.5M | $4.8M | $4.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $63.5M | $94.4M | $40.9M | $112.3M | $313.0M | $171.7M | $12.0M | $24.6M |
| Short-term investments | — | — | $51.2M | $87.6M | $0 | — | — | — |
| Receivables | $51.5M | $38.7M | $35.5M | $26.2M | $20.8M | $14.1M | — | — |
| Total current assets | $187.2M | $181.4M | $148.6M | $242.2M | $345.2M | $193.2M | — | — |
| Property, plant and equipment | $26.7M | $22.1M | $16.9M | $13.6M | $11.8M | $10.5M | — | — |
| Goodwill | $403.4M | $148.1M | $148.1M | $148.0M | $48.1M | $16.2M | — | — |
| Other intangibles | $158.9M | $29.0M | $35.8M | $42.6M | $11.2M | $8.3M | — | — |
| Total assets | $847.2M | $437.3M | $399.8M | $488.9M | $436.5M | $249.2M | — | — |
| Accounts payable | $5.8M | $6.1M | $7.5M | $4.3M | $3.6M | $360.0K | — | — |
| Short-term debt | — | — | $0 | $3.2M | $1.6M | $313.0K | — | — |
| Total current liabilities | $89.5M | $45.6M | $39.4M | $41.6M | $33.2M | $20.5M | — | — |
| Long-term debt | — | — | $0 | $81.4M | $23.1M | $24.6M | — | — |
| Total liabilities | $485.2M | $80.2M | $74.9M | $154.8M | $91.9M | $69.4M | — | — |
| Retained earnings | -$523.9M | -$476.2M | -$435.4M | -$372.5M | -$313.9M | -$263.5M | — | — |
| Total equity | $362.0M | $357.0M | $324.9M | $334.0M | $344.6M | -$263.5M | -$195.4M | -$153.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $42.9M | $18.6M | -$17.5M | -$38.0M | -$29.0M | -$38.1M | -$39.1M | — |
| Depreciation and amortisation | $26.9M | $10.5M | $10.6M | $8.1M | $3.4M | $2.8M | $2.2M | — |
| Stock-based compensation | $76.2M | $59.4M | $51.2M | $44.6M | $14.5M | $2.0M | $1.2M | — |
| Capital expenditure | $1.5M | $1.2M | $1.1M | $1.1M | $1.1M | $2.1M | $3.7M | — |
| Investing cash flow | -$397.6M | $23.0M | $33.9M | -$223.8M | -$22.0M | -$27.2M | -$3.7M | — |
| Financing cash flow | $323.8M | $11.8M | -$87.8M | $61.2M | $192.3M | $225.0M | $30.2M | — |
| Dividends paid | — | — | $0 | $0 | $5.0M | $0 | $0 | — |
| Buybacks | — | — | $0 | $0 | $3.5M | $3.2M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001529274-26-000009.
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