Alkami Halves Its Quarterly Loss To $6.7 Million As Adjusted EBITDA Climbs To $26.3 Million
The bank-software provider grew third-quarter revenue 19.4% and set a full-year revenue outlook of $530.5 million to $532.0 million.
Alkami Technology, which sells cloud-based digital banking software to banks and credit unions, cut its third-quarter net loss to $6.7 million from $14.8 million a year earlier, as revenue rose 19.4% to $134.9 million, the company said Wednesday. Adjusted EBITDA, a profit measure that strips out stock pay, amortization and other items, rose to $26.3 million from $16.0 million.
Profit measures improve, gross margin splits
The adjusted EBITDA margin was 19.5%, which the company said was above expectations and more than 530 basis points wider than a year earlier. Chief Executive Alex Shootman said revenue growth of 19% and adjusted EBITDA of $26 million were both "ahead of expectations."
Gross margin on standard accounting edged up to 57.5% from 56.8%. The adjusted gross margin slipped to 63.1% from 63.7%, which the investor presentation attributes to higher third-party costs and temporary database costs.
For the first nine months of 2026, free cash flow was $32.4 million, up from $19.9 million a year earlier, the company reported.
Users and recurring revenue grow
Annual recurring revenue reached $533 million, up 19%. Chief Financial Officer Cassandra Hudson said registered users on the digital banking platform rose by 2.8 million over 12 months to 24.4 million, and revenue per user rose 5% to $21.88.
Alkami said it implemented 10 clients in the quarter. The presentation puts the digital banking client count at 323, against 291 a year earlier. Alkami serves community, regional and super-regional institutions, and its clients mainly pay multi-year subscriptions priced per registered user.
Fourth-quarter and full-year outlook
For the fourth quarter, Alkami guided to revenue of $139.7 million to $141.2 million and adjusted EBITDA of $30.0 million to $31.0 million. For all of 2026 it expects revenue of $530.5 million to $532.0 million and adjusted EBITDA of $98.0 million to $99.0 million.
Management was set to discuss the results on a call at 5:00 p.m. ET Wednesday.
Full-year adjusted EBITDA guidance of $98.0 million to $99.0 million compares with $68.0 million already booked in the first nine months.
Sources
- 8-K Filing — ALKAMI TECHNOLOGY, INC. (ALKT) — SEC EDGAR
- Exhibit exhibit991-earningsrelease.htm — ALKAMI TECHNOLOGY, INC. 8-K exhibit — SEC EDGAR
- Exhibit investorpresentation2026.htm — ALKAMI TECHNOLOGY, INC. 8-K exhibit — SEC EDGAR
- Alkami: Q3 Earnings Snapshot — Associated Press
- Alkami: Q3 Earnings Snapshot | 9news.com — Associated Press
- Alkami Announces Third Quarter 2026 Financial Results — prnewswire.com
