SEC Filings

Alkami Will Pay About $4.0 Million To Offload Its Plano Headquarters Lease

The software company still owes the lease until the landlord signs off, and it has added the cost to its adjusted EBITDA add-backs.

Alkami Technology, which sells cloud-based digital banking software to banks and credit unions, has agreed to hand its Plano, Texas headquarters lease to a third party and will pay that party about $4.0 million to take it, according to its quarterly report filed Thursday. The company stays on the hook for the lease until the landlord releases it.

A $4.0 million exit, with strings

Alkami signed the assignment agreements in September. The handoff takes effect July 1, 2027, and the payment is due within 30 days after that date.

Three things must happen first: Alkami has to vacate by February 1, 2027, the landlord must free it from later lease duties, and the new tenant must post replacement security. Until those are met, Alkami remains the primary obligor on the lease.

The company says it has found no impairment tied to the assignment and will check quarterly through the effective date. Its total lease liability was $20.4 million at September 30, 2026.

Fees already in the third-quarter numbers

Alkami booked $2.1 million of broker commissions on the assignment in September, and they sit in general and administrative expense. That expense rose $5.4 million in the quarter, with $2.1 million of the increase labeled lease assignment costs and another $2.1 million coming from stockholder matters expenses.

The company now strips lease assignment costs out of adjusted EBITDA, as it does stockholder matters costs. Adjusted EBITDA was $26.3 million for the quarter, against a GAAP net loss of $6.7 million. The company's earnings release put revenue at $134.9 million, up 19.4% from a year earlier.

The filing also says the strategic review tied to stockholder matters was completed in the third quarter of 2026.

The business and the buyback

Alkami serves community, regional and super-regional financial institutions, charging mostly per registered user under multi-year subscriptions. It served 323 institutions on its digital banking platform at September 30, 2026.

It has also been spending on its own stock. Under the $100 million repurchase program the board authorized on April 23, 2026, it bought 1,416,195 shares for $25 million over nine months, leaving $75.0 million of authorization. The lease payment adds a cash outlay in 2027.

The next marker is February 1, 2027, when Alkami is due to surrender the premises, one of the conditions for the assignment.