Alkami Announces Fourth Quarter 2024 Financial Results
PR Newswire
PLANO, Texas, Feb. 27, 2025
Alkami Today Also Announced Its Intent to Acquire MANTL
PLANO, Texas, Feb. 27, 2025 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions (FIs) in the U.S., today announced results for its fourth quarter ending December 31, 2024.
Fourth Quarter 2024 Financial Highlights
-- GAAP total revenue of $89.7 million, an increase of 25.6% compared to the
year-ago quarter;
-- GAAP gross margin of 59.3%, compared to 56.0% in the year-ago quarter;
-- Non-GAAP gross margin of 63.1%, compared to 60.3% in the year-ago
quarter;
-- GAAP net loss of $(7.6) million, compared to $(12.7) million in the
year-ago quarter; and
-- Adjusted EBITDA of $10.2 million, compared to $3.1 million in the
year-ago quarter.
Full Year 2024 Financial Highlights
-- GAAP total revenue of $333.8 million, an increase of 26.1% compared to
2023;
-- GAAP gross margin of 58.9%, compared to 54.4% in 2023;
-- Non-GAAP gross margin of 62.7%, compared to 59.0% in 2023;
-- GAAP net loss of $(40.8) million, compared to $(62.9) million in 2023;
and
-- Adjusted EBITDA of $26.9 million compared to $(1.6) million in 2023.
Alkami also announced today the signing of a definitive agreement to acquire Fin Technologies, Inc. ("MANTL") for an enterprise value of $400 million, on a debt free, cash free basis and subject to customary purchase price adjustments, expected to be $7 million. Alkami plans to fund the acquisition with cash of approximately $380 million and restricted stock units issued to continuing MANTL employees with an estimated value of $13 million at transaction closing in replacement for unvested compensatory stock options. MANTL is the premier onboarding and account opening solution that allows financial institutions to acquire commercial, business and retail customers through any channel for virtually any deposit account type. MANTL combined with Alkami's digital banking platform and marketing and analytic capabilities creates the industry leading digital sales and service platform for financial institutions.
Comments on the News
Alex Shootman, Chief Executive Officer, said, "In the fourth quarter, we continued to deliver strong growth and enhanced profitability, with revenue growth of over 25% and Adjusted EBITDA of $10.2 million. This capped a year that saw revenue growth of 26% and our first full year of positive Adjusted EBITDA. We also continued to expand our client portfolio, adding an additional seven banks in the fourth quarter."
Shootman added, "We also announced today that we signed a definitive agreement to acquire MANTL, the premier onboarding and account opening solution. MANTL is unique in that it offers a multi-tenant, core-agnostic, single platform that enables FIs to support all channels in onboarding deposit accounts, including branch, call center and digital. With this acquisition, Alkami solidifies its position as the de facto digital sales and service platform in the industry, allowing FIs to onboard, engage, and grow their account base. This creates a tremendous opportunity for us to expand market share and generate cross sell within our client base, driving additional revenue growth and enhancing our competitive offering among financial institutions."
Bryan Hill, Chief Financial Officer, said, "In 2024, we added 2.5 million registered users to our digital banking platform, ending the year with 20 million digital banking users. We exited 2024 with annual recurring revenue of $356 million, up 22% compared to December 31, 2023 and revenue per registered user of $17.81, up 7% compared to the year-ago quarter. Our remaining performance obligation reached $1.4 billion at December 31, 2024, providing substantial visibility into our future operating and financial performance. In addition, we are thrilled to welcome MANTL to the Alkami team. We believe MANTL will be accretive to Alkami's overall revenue growth and gross margin expansion, and we expect the impact of the acquisition to be accretive to Adjusted EBITDA in 2026, allowing Alkami to meet or exceed its long-term financial targets."
2025 Financial Outlook
The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement Regarding Forward-Looking Statements." Alkami's financial outlook is based on current expectations, and includes the impact of the MANTL acquisition.
Alkami is providing guidance for its first quarter ending March 31, 2025 of:
-- GAAP total revenue in the range of $93.5 million to $95.0 million; -- Adjusted EBITDA in the range of $9.5 million to $10.5 million.
Alkami is providing guidance for its fiscal year ending December 31, 2025 of:
-- GAAP total revenue in the range of $440.0 million to $445.0 million; -- Adjusted EBITDA in the range of $47.0 million to $51.0 million.
The completion of the MANTL acquisition remains subject to certain standard conditions, and is expected to close on or before March 31, 2025. As such, starting in the second quarter of 2025 and included in Alkami's full year guidance, Alkami expects MANTL to contribute revenue of approximately $30 million and an Adjusted EBITDA loss of $5 million to its 2025 full-year financial performance. Alkami expects MANTL's annual recurring revenue under contract at December 31, 2025 to be approximately $60 million, which represents a year-over-year growth rate of over 30%.
Conference Call Information
The Company will host a conference call at 5:00 p.m. ET today to discuss its financial results with investors. A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com. In addition, a live dial-in will be available domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using passcode 39894. The webcast replay will be available on the Alkami investor relations website.
About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data and marketing solutions. To learn more, visit www.alkami.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking" statements relating to Alkami Technology, Inc.'s strategy, goals, future focus areas, and expected, possible or assumed future results, including its future cash flows and its financial outlook. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "expects," "believes," "plans," or similar expressions and the negatives of those terms. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. Factors that may materially affect such forward-looking statements include: Our limited operating history and history of operating losses; our ability to manage future growth; our ability to attract new clients and retain and expand existing clients' use of our solutions; the unpredictable and time-consuming nature of our sales cycles; our ability to maintain, protect and enhance our brand; our ability to accurately predict the long-term rate of client subscription renewals or adoption of our solutions; our reliance on third-party software, content and services; our ability to effectively integrate our solutions with other systems used by our clients; intense competition in our industry; any downturn, consolidation or decrease in technology spend in the financial services industry, including as a result of recent closures of certain financial institutions and liquidity concerns at other financial institutions; our ability and the ability of third parties on which we rely to prevent and identify breaches of security measures (including cybersecurity) and resulting disruptions of our systems or operations and unauthorized access to client customer and other data; our ability to successfully integrate acquired companies or businesses; our ability to comply with regulatory and legal requirements and developments; our ability to attract and retain key employees; the political, economic and competitive conditions in the markets and jurisdictions where we operate; our ability to maintain, develop and protect our intellectual property; our ability to respond to evolving technological requirements to develop or acquire new and enhanced products that achieve market acceptance in a timely manner; our ability to estimate our expenses, future revenues, capital requirements, our needs for additional financing and our ability to obtain additional capital and other factors described in the Company's filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Explanation of Non-GAAP Financial Measures and Key Business Metrics
The company reports its financial results in accordance with accounting principles generally accepted in the United States of America, or GAAP. However, the company believes that, in order to properly understand its short-term and long-term financial, operational and strategic trends, it may be helpful for investors to exclude certain non-cash or non-recurring items when used as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that vary in both frequency and impact on continuing operations. The company also uses results of operations excluding such items to evaluate the operating performance of Alkami and compare it against prior periods, make operating decisions, determine executive compensation, and serve as a basis for long-term strategic planning. These non-GAAP financial measures provide the company with additional means to understand and evaluate the operating results and trends in its ongoing business by eliminating certain non-cash expenses and other items that Alkami believes might otherwise make comparisons of its ongoing business with prior periods more difficult, obscure trends in ongoing operations, reduce management's ability to make useful forecasts, or obscure the ability to evaluate the effectiveness of certain business strategies and management incentive structures. In addition, the company also believes that investors and financial analysts find this information to be helpful in analyzing the company's financial and operational performance and comparing this performance to the company's peers and competitors.
The company defines "Non-GAAP Cost of Revenues" as cost of revenues, excluding (1) amortization and (2) stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ability to generate income from ongoing business operations.
The company defines "Non-GAAP Gross Margin" as gross profit, plus (1) amortization and (2) stock-based compensation expense, all divided by revenue. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ability to generate income from ongoing business operations.
The company defines "Non-GAAP Research and Development Expense" as research and development expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ongoing expenditures related to product innovation.
The company defines "Non-GAAP Sales and Marketing Expense" as sales and marketing expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ongoing expenditures related to its sales and marketing strategies.
The company defines "Non-GAAP General and Administrative Expense" as general and administrative expense, excluding (1) stock-based compensation expense and (2) secondary offering costs. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's underlying expense structure to support corporate activities and processes.
The company defines "Non-GAAP Income (loss) before income taxes" as loss before income taxes, plus (1) gain on financial instruments, (2) amortization, (3) stock-based compensation expense, (4) secondary offering costs, and (5) acquisition-related expenses. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company's financial and operational performance, comparing this performance to the company's peers and competitors, and understanding the company's ability to generate income from ongoing business operations.
The company defines "Adjusted EBITDA" as net loss plus (1) provision (benefit) for income taxes, (2) gain on financial instruments, (3) interest income, net, (4) depreciation and amortization (5) stock-based compensation expense, (6) secondary offering costs, (7) acquisition-related expenses, and (8) loss on extinguishment of debt. The company believes adjusted EBITDA provides investors and other users of our financial information consistency and comparability with our past financial performance and facilitates period-to-period comparisons of operations.
In addition, the Company also uses the following important operating metrics to evaluate its business:
The company defines "Annual Recurring Revenue $(ARR)$" by aggregating annualized recurring revenue related to SaaS subscription services recognized in the last month of the reporting period as well as the next 12 months of expected implementation services revenues in the last month of the reporting period. We believe ARR provides important information about our future revenue potential, our ability to acquire new clients, and our ability to maintain and expand our relationship with existing clients.
The company defines "Registered Users" as an individual or business related to an account holder of an FI client on our digital banking platform who has registered to use one or more of our solutions and has current access to use those solutions as of the last day of the reporting period presented. We price our digital banking platform based on the number of registered users, so as the number of registered users of our digital banking platform increases, our ARR grows. We believe growth in the number of registered users provides important information about our ability to expand market adoption of our digital banking platform and its associated software products, and therefore to grow revenues over time.
The company defines "Revenue per Registered User (RPU)" by dividing ARR for the reporting period by the number of registered users as of the last day of the reporting period. We believe RPU provides important information about our ability to grow the number of software products adopted by new clients over time, as well as our ability to expand the number of software products that our existing clients add to their contracts with us over time.
The company does not provide a reconciliation of our adjusted EBITDA outlook to GAAP net loss because certain significant information required for such reconciliation is not available without unreasonable efforts, including provision for income taxes, loss on financial instruments, stock-based compensation expense, and acquisition-related expenses, net, all of which may be significant.
ALKAMI TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
(UNAUDITED)
December 31, December 31,
2024 2023
------------------------ ------------------------
Assets
Current assets
Cash and cash
equivalents $ 94,359 $ 40,927
Marketable securities 21,375 51,196
Accounts receivable,
net 38,739 35,499
Deferred costs, current 13,207 10,329
Prepaid expenses and
other current assets 13,697 10,634
------------------------ ------------------------
Total current assets 181,377 148,585
Property and equipment,
net 22,075 16,946
Right-of-use assets 14,565 15,754
Deferred costs, net of
current portion 37,178 30,734
Intangibles, net 29,021 35,807
Goodwill 148,050 148,050
Other assets 5,011 3,949
------------------------ ------------------------
Total assets $ 437,277 $ 399,825
======================== ========================
Liabilities and
Stockholders' Equity
Current liabilities
Accounts payable $ 6,129 $ 7,478
Accrued liabilities 24,520 19,763
Deferred revenues,
current portion 13,578 10,984
Lease liabilities,
current portion 1,343 1,205
------------------------ ------------------------
Total current
liabilities 45,570 39,430
Deferred revenues, net
of current portion 15,526 15,384
Deferred income taxes 1,822 1,713
Lease liabilities, net
of current portion 17,109 18,052
Other non-current
liabilities 220 305
------------------------ ------------------------
Total liabilities 80,247 74,884
Stockholders' Equity
Preferred stock, $0.001
par value, 10,000,000
shares authorized and 0
shares issued and
outstanding as of
December 31, 2024 and
2023 -- --
Common stock, $0.001
par value, 500,000,000
shares authorized; and
102,088,783 and
96,722,098 shares
issued and outstanding
as of December 31,
2024 and 2023,
respectively 102 97
Additional paid-in
capital 833,129 760,210
Accumulated deficit (476,201) (435,366)
------------------------ ------------------------
Total stockholders'
equity 357,030 324,941
------------------------ ------------------------
Total liabilities and
stockholders' equity $ 437,277 $ 399,825
======================== ========================
ALKAMI TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(UNAUDITED)
Three months ended December 31, Year ended December 31,
------------------------------------------------- --------------------------------------------------
2024 2023 2024 2023
------------------------ ----------------------- ------------------------- -----------------------
Revenues $ 89,656 $ 71,369 $ 333,849 $ 264,831
Cost of revenues(1) 36,446 31,420 137,219 120,720
------------------------ ----------------------- ------------------------- -----------------------
Gross profit 53,210 39,949 196,630 144,111
Operating expenses:
Research and
development 25,349 21,491 96,211 84,661
Sales and marketing 14,552 11,863 59,765 48,557
General and
administrative 21,576 19,292 83,650 72,900
Acquisition-related
expenses -- 43 195 263
Amortization of
acquired
intangibles 359 359 1,435 1,435
------------------------ ----------------------- ------------------------- -----------------------
Total operating
expenses 61,836 53,048 241,256 207,816
------------------------ ----------------------- ------------------------- -----------------------
Loss from operations (8,626) (13,099) (44,626) (63,705)
Non-operating income
(expense):
Interest income 1,070 2,273 4,560 8,095
Interest expense (134) (1,870) (461) (7,384)
Gain on financial
instruments -- 113 -- 534
Loss on
extinguishment of
debt -- (409) -- (409)
------------------------ ----------------------- ------------------------- -----------------------
Loss before income
taxes (7,690) (12,992) (40,527) (62,869)
Provision (benefit)
for income taxes (47) (279) 308 44
------------------------ ----------------------- ------------------------- -----------------------
Net loss $ (7,643) $ (12,713) $ (40,835) $ (62,913)
======================== ======================= ========================= =======================
Net loss per share
attributable to
common stockholders:
Basic and diluted $ (0.08) $ (0.13) $ (0.41) $ (0.67)
Weighted average
number of shares of
common stock
outstanding:
Basic and diluted 101,057,260 95,871,058 98,892,692 94,080,797
(1) Includes amortization of acquired technology of $1.3 million and
$1.4 million for the three months ended December 31, 2024 and 2023,
respectively, and $5.4 million for both the years ended December 31, 2024 and
2023.
ALKAMI TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(UNAUDITED)
Year ended December 31,
--------------------------------------------------------------------
2024 2023
--------------------------------- ---------------------------------
Cash flows from operating
activities:
Net loss $ (40,835) $ (62,913)
Adjustments to reconcile
net loss to net cash
provide by (used in)
operating activities:
Depreciation and
amortization expense 10,508 10,631
Accrued interest on
marketable securities,
net (1,075) (3,231)
Stock-based compensation
expense 59,437 51,231
Amortization of debt
issuance costs 210 138
Gain on financial
instruments -- $(532.SI)$
Loss on extinguishment of
debt -- 409
Gain on lease modification -- (375)
Deferred taxes 109 (32)
Changes in operating
assets and liabilities:
Accounts receivable (3,240) (9,253)
Prepaid expenses and other
assets (3,972) 425
Accounts payable and
accrued liabilities 3,322 91
Deferred costs (8,603) (7,720)
Deferred revenues 2,736 3,629
--------------------------------- ---------------------------------
Net cash provided by (used
in) operating activities 18,597 (17,502)
--------------------------------- ---------------------------------
Cash flows from investing
activities:
Purchase of marketable
securities (40,416) (140,816)
Proceeds from sales,
maturities, and
redemptions of marketable
securities 71,312 181,019
Purchases of property and
equipment (1,195) (1,058)
Capitalized software
development costs (6,660) (5,234)
--------------------------------- ---------------------------------
Net cash provided by
investing activities 23,041 33,911
--------------------------------- ---------------------------------
Cash flows from financing
activities:
Principal payments on debt -- (85,000)
Payment of holdback funds
from acquisition -- (3,600)
Payments for taxes related
to net settlement of
equity awards (12,820) (15,985)
Proceeds from stock option
exercises 20,241 12,983
Proceeds from Employee
Stock Purchase Plan
issuances 4,736 4,124
Debt issuance costs paid (363) (341)
--------------------------------- ---------------------------------
Net cash provided by
(used in) financing
activities 11,794 (87,819)
--------------------------------- ---------------------------------
Net increase (decrease) in
cash and cash equivalents
and restricted cash 53,432 (71,410)
Cash and cash equivalents
and restricted cash,
beginning of period 40,927 112,337
--------------------------------- ---------------------------------
Cash and cash equivalents
and restricted cash, end
of period $ 94,359 $ 40,927
================================= =================================
ALKAMI TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(In thousands, except per share data)
(UNAUDITED)
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP total revenues $ 89,656 $ 71,369 $ 333,849 $ 264,831
December 31,
---------------------------
2024 2023
------------- ------------
Annual Recurring
Revenue $(ARR.UK)$ $ 355,874 $ 291,049
Registered Users 19,984 17,502
Revenue per
Registered User
(RPU) $ 17.81 $ 16.63
Non-GAAP Cost of
Revenues
--------------------
Set forth below is a presentation of the company's "Non-GAAP Cost of
Revenues." Please reference the "Explanation of Non-GAAP Measures" section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP cost of
revenues $ 36,446 $ 31,420 $ 137,219 $ 120,720
Amortization (1,926) (1,656) (7,389) (6,579)
Stock-based
compensation
expense (1,434) (1,444) (5,366) (5,584)
------------- ------------ ------------ -------------
Non-GAAP cost of
revenues $ 33,086 $ 28,320 $ 124,464 $ 108,557
============= ============ ============ =============
Non-GAAP Gross
Margin
--------------------
Set forth below is a presentation of the company's "Non-GAAP Gross Margin."
Please reference the "Explanation of Non-GAAP Measures" section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP gross margin 59.3 % 56.0 % 58.9 % 54.4 %
Amortization 2.2 % 2.3 % 2.2 % 2.5 %
Stock-based
compensation
expense 1.6 % 2.0 % 1.6 % 2.1 %
------------- ------------ ------------ -------------
Non-GAAP gross
margin 63.1 % 60.3 % 62.7 % 59.0 %
============= ============ ============ =============
Non-GAAP Research
and Development
Expense
--------------------
Set forth below is a presentation of the company's "Non-GAAP Research and
Development Expense." Please reference the "Explanation of Non-GAAP Measures"
section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP research and
development
expense $ 25,349 $ 21,491 $ 96,211 $ 84,661
Stock-based
compensation
expense (4,533) (4,141) (17,279) (15,995)
------------- ------------ ------------ -------------
Non-GAAP research
and development
expense $ 20,816 $ 17,350 $ 78,932 $ 68,666
============= ============ ============ =============
Non-GAAP Sales and
Marketing Expense
--------------------
Set forth below is a presentation of the company's "Non-GAAP Sales and
Marketing Expense." Please reference the "Explanation of Non-GAAP Measures"
section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP sales and
marketing expense $ 14,552 $ 11,863 $ 59,765 $ 48,557
Stock-based
compensation
expense (2,400) (1,911) (9,049) (7,220)
------------- ------------ ------------ -------------
Non-GAAP sales and
marketing expense $ 12,152 $ 9,952 $ 50,716 $ 41,337
============= ============ ============ =============
Non-GAAP General and
Administrative
Expense
--------------------
Set forth below is a presentation of the company's "Non-GAAP General and
Administrative Expense." Please reference the "Explanation of Non-GAAP
Measures" section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP general and
administrative
expense $ 21,576 $ 19,292 $ 83,650 $ 72,900
Stock-based
compensation
expense (7,248) (5,821) (27,743) (22,432)
Secondary offering
costs (527) -- (1,337) --
------------- ------------ ------------ -------------
Non-GAAP general and
administrative
expense $ 13,801 $ 13,471 $ 54,570 $ 50,468
============= ============ ============ =============
Non-GAAP Income
(Loss) Before Income
Taxes
--------------------
Set forth below is a presentation of the company's "Non-GAAP Income (Loss)
Before Income Taxes." Please reference the "Explanation of Non-GAAP Measures"
section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP loss before
income taxes $ (7,690) $ (12,992) $ (40,527) $ (62,869)
Gain on financial
instruments -- (113) -- (534)
Amortization 2,285 2,015 8,824 8,014
Stock-based
compensation
expense 15,615 13,317 59,437 51,231
Secondary offering
costs 527 -- 1,337 --
Acquisition-related
expenses -- 43 195 263
------------- ------------ ------------ -------------
Non-GAAP Income
(loss) before
income taxes $ 10,737 $ 2,270 $ 29,266 $ (3,895)
============= ============ ============ =============
Adjusted EBITDA
--------------------
Set forth below is a presentation of the company's "Adjusted EBITDA." Please
reference the "Explanation of Non-GAAP Measures" section.
Three Months Ended Year Ended
December 31, December 31,
--------------------------- ---------------------------
2024 2023 2024 2023
------------- ------------ ------------ -------------
GAAP net loss $ (7,643) $ (12,713) $ (40,835) $ (62,913)
Provision (benefit)
for income taxes (47) (279) 308 44
Gain on financial
instruments -- (113) -- (534)
Interest income, net (936) (403) (4,099) (711)
Depreciation and
amortization 2,654 2,790 10,508 10,631
Stock-based
compensation
expense 15,615 13,317 59,437 51,231
Secondary offering
costs 527 -- 1,337 --
Acquisition-related
expenses -- 43 195 263
Loss on
extinguishment of
debt -- 409 -- 409
------------- ------------ ------------ -------------
Adjusted EBITDA $ 10,170 $ 3,051 $ 26,851 $ (1,580)
============= ============ ============ =============
Investor Relations Contact
Steve Calk
ir@alkami.com
Media Relations Contacts
Marla Pieton
marla.pieton@alkami.com
Valerie Kerner
alkami@fullyvested.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/alkami-announces-fourth-quarter-2024-financial-results-302387917.html
SOURCE Alkami Technology, Inc.
(END) Dow Jones Newswires
February 27, 2025 16:05 ET (21:05 GMT)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.