Alkami Technology, Inc. (NASDAQ: ALKT), a leading provider of digital banking solutions, saw its stock price surge by over 5% in the pre-market trading session on Friday. This rally was fueled by the company's impressive fourth-quarter 2024 financial performance and the strategic acquisition of MANTL, a premier account opening and onboarding solution provider.
Alkami reported a remarkable 26% year-over-year revenue growth for both Q4 2024 and the full year, reaching $333.8 million. The company achieved adjusted EBITDA profitability of over $10 million in Q4 2024 and $26.9 million for the full year, a significant turnaround from a loss of $1.6 million in 2023. Alkami's strong performance was driven by robust subscription revenue growth of 26.5%, representing 96% of total revenue.
Complementing its financial success, Alkami announced the acquisition of MANTL, a leading provider of omnichannel account opening and onboarding solutions. The $400 million transaction is expected to position Alkami as the ultimate digital sales and service platform, capable of seamlessly onboarding, engaging, and growing customer relationships across all channels. The acquisition unlocks significant cross-selling opportunities within Alkami's existing client base and enhances its competitive advantage in the digital banking market.
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