ALKT · Alkami Technology, Inc.

Alkami Technology reported strong first quarter 2026 results, with GAAP total revenue of $126.1 million, up 28.9% year-over-year, driven by the MANTL acquisition, new client additions, and growth in registered users and revenue per user. GAAP gross margin was 58.6%, slightly down from 59.0% in the prior year, while non-GAAP gross margin improved to 64.4% from 64.3%. The company reported a GAAP net loss of $10.0 million, compared to a loss of $7.8 million in the year-ago quarter, reflecting increased investment. Adjusted EBITDA more than doubled to $22.3 million from $12.1 million, with margin expanding to 17.7% from 12.4%, demonstrating operating leverage. Management highlighted strong client momentum, signing 6 new digital banking logos and 14 new MANTL logos, and ending the quarter with 23.0 million registered users, up 12% year-over-year. Annual recurring revenue (ARR) reached $493.6 million, up 22%, and revenue per registered user increased 9% to $21.46. The company also announced a $100 million share repurchase program authorized by the Board on April 23, 2026, reflecting confidence in its financial position and commitment to shareholder value. For the second quarter of 2026, Alkami expects GAAP revenue of $128.0-$129.0 million and Adjusted EBITDA of $17.9-$18.7 million. For the full year 2026, guidance calls for GAAP revenue of $527.1-$530.9 million and Adjusted EBITDA of $94.9-$97.9 million, implying continued margin expansion.