Alkami Technology is an American digital banking software company based in Plano, founded in 2009.1 It was founded by Sean McElroy.1 Its shares trade on Nasdaq under the symbol ALKT.1
Alkami is a cloud-based digital sales and service platform provider. We inspire and empower community, regional and super-regional financial institutions (“FIs”) to compete with large, technologically advanced and well-resourced banks in the United States. Our solution, the Alkami Digital Sales & Service Platform, consisting of the Alkami Digital Banking Platform (“Platform”), Onboarding & Account Opening, and Data & Marketing, allows FIs to onboard, engage and grow new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture. We cultivate deep relationships with our clients through long-term, subscription-based contractual arrangements, aligning our growth with our clients’ success and generating an attractive unit economic model.7From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue91011128$443.6M in 2025+503% since 2019Gross profit91011128$256.6M in 2025+743% since 2019Operating income91011128-$53.6M in 2025+26% since 2019Net income91011128-$47.7M in 2025+14% since 2019
Revenue131415$129.8M in Q2 FY2026+33% since Q1 FY2025Gross profit131415$73.8M in Q2 FY2026+28% since Q1 FY2025Operating income131415-$7.7M in Q2 FY2026−50% since Q1 FY2025Net income131415-$8.9M in Q2 FY2026+14% since Q1 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
Revenues
$443.6M
$333.8M
$264.8M
Gross profit
$256.6M
$196.6M
$144.1M
Research and development
$118.4M
$96.2M
$84.7M
Sales and marketing
$80.1M
$59.8M
$48.6M
General and administrative
$100.9M
$83.7M
$72.9M
Acquisition-related expenses
$3.5M
$195.0K
$263.0K
Amortization of acquired intangibles
$5.7M
$1.4M
$1.4M
Loss on impairment of intangible assets
$1.7M
$0
$0
Total operating expenses
$310.2M
$241.3M
$207.8M
Loss from operations
-$53.6M
-$44.6M
-$63.7M
Interest income
$4.2M
$4.6M
$8.1M
Interest expense
-$9.5M
-$461.0K
-$7.4M
Gain on financial instruments
$0
$0
$534.0K
Loss on extinguishment of debt
$0
$0
-$409.0K
Loss before income taxes
-$59.0M
-$40.5M
-$62.9M
(Benefit from) provision for income taxes
-$11.3M
$308.0K
$44.0K
Net loss
-$47.7M
-$40.8M
-$62.9M
Basic (in dollars per share)
-$0.46
-$0.41
-$0.67
Diluted (in dollars per share)
-$0.46
-$0.41
-$0.67
Basic (in shares)
103.9M shares
98.9M shares
94.1M shares
Diluted (in shares)
103.9M shares
98.9M shares
94.1M shares
Cost of revenues
$22.3M
$6.8M
$6.8M
Cost of revenues
$187.0M
$137.2M
$120.7M
No quarter-by-quarter statement was filed.
Total assets91011128$847.2M in 2025+240% since 2020Total liabilities91011128$485.2M in 2025+599% since 2020Shareholders’ equity1011128$362.0M in 2025Cash10911128$63.5M in 2025+430% since 2019Long-term debt91011$0 in 2023
Total assets13161514$831.1M in Q2 FY2026−1% since Q1 FY2025Total liabilities13161514$468.4M in Q2 FY2026−7% since Q1 FY2025Shareholders’ equity131415$362.7M in Q2 FY2026+9% since Q1 FY2025Cash13161514$45.5M in Q2 FY2026−26% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$63.5M
$94.4M
Marketable securities
$35.6M
$21.4M
Accounts receivable, net
$51.5M
$38.7M
Deferred costs, current
$15.9M
$13.2M
Prepaid expenses and other current assets
$20.7M
$13.7M
Total current assets
$187.2M
$181.4M
Property and equipment, net
$26.7M
$22.1M
Right-of-use assets
$13.5M
$14.6M
Deferred costs, net of current portion
$47.4M
$37.2M
Intangibles, net
$158.9M
$29.0M
Goodwill
$403.4M
$148.1M
Other assets
$10.1M
$5.0M
Total assets
$847.2M
$437.3M
Accounts payable
$5.8M
$6.1M
Accrued liabilities
$47.4M
$24.5M
Deferred revenues, current portion
$34.8M
$13.6M
Lease liabilities, current portion
$1.6M
$1.3M
Total current liabilities
$89.5M
$45.6M
Deferred revenues, net of current portion
$25.8M
$15.5M
Deferred income taxes
$2.6M
$1.8M
Convertible senior notes, net
$336.2M
$0
Revolving loan
$15.0M
$0
Lease liabilities, net of current portion
$15.7M
$17.1M
Other non-current liabilities
$237.0K
$220.0K
Total liabilities
$485.2M
$80.2M
Preferred stock, $0.001 par value, 10,000,000 shares authorized and 0 shares issued and outstanding as of December 31, 2025 and 2024
$0
$0
Common stock, $0.001 par value, 500,000,000 shares authorized and 106,101,875 and 102,088,783 shares issued and outstanding as of December 31, 2025 and 2024, respectively
$106.0K
$102.0K
Additional paid-in capital
$885.8M
$833.1M
Accumulated deficit
-$523.9M
-$476.2M
Total stockholders equity
$362.0M
$357.0M
$324.9M
$334.0M
Total liabilities and stockholders' equity
$847.2M
$437.3M
Preferred stock, par value (in dollars per share)
$0.00
$0.00
Preferred stock, authorized (in shares)
10.0M shares
10.0M shares
Preferred stock, issued (in shares)
0 shares
0 shares
Preferred stock, outstanding (in shares)
0 shares
0 shares
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, authorized (in shares)
500.0M shares
500.0M shares
Common stock, issued (in shares)
106.1M shares
102.1M shares
Common stock, outstanding (in shares)
106.1M shares
102.1M shares
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Cash and cash equivalents
$63.5M
$94.4M
Marketable securities
$35.6M
$21.4M
Accounts receivable, net
$51.5M
$38.7M
Deferred costs, current
$15.9M
$13.2M
Prepaid expenses and other current assets
$20.7M
$13.7M
Total current assets
$187.2M
$181.4M
Property and equipment, net
$26.7M
$22.1M
Right-of-use assets
$13.5M
$14.6M
Deferred costs, net of current portion
$47.4M
$37.2M
Intangibles, net
$158.9M
$29.0M
Goodwill
$403.4M
$148.1M
Other assets
$10.1M
$5.0M
Total assets
$847.2M
$437.3M
Accounts payable
$5.8M
$6.1M
Accrued liabilities
$47.4M
$24.5M
Deferred revenues, current portion
$34.8M
$13.6M
Lease liabilities, current portion
$1.6M
$1.3M
Total current liabilities
$89.5M
$45.6M
Deferred revenues, net of current portion
$25.8M
$15.5M
Deferred income taxes
$2.6M
$1.8M
Convertible senior notes, net
$336.2M
$0
Revolving loan
$15.0M
$0
Lease liabilities, net of current portion
$15.7M
$17.1M
Other non-current liabilities
$237.0K
$220.0K
Total liabilities
$485.2M
$80.2M
Preferred stock, $0.001 par value, 10,000,000 shares authorized and 0 shares issued and outstanding as of December 31, 2025 and 2024
$0
$0
Common stock, $0.001 par value, 500,000,000 shares authorized and 106,101,875 and 102,088,783 shares issued and outstanding as of December 31, 2025 and 2024, respectively
$106.0K
$102.0K
Additional paid-in capital
$885.8M
$833.1M
Accumulated deficit
-$523.9M
-$476.2M
Total stockholders equity
$362.0M
$357.0M
$324.9M
$334.0M
Total liabilities and stockholders' equity
$847.2M
$437.3M
Preferred stock, par value (in dollars per share)
$0.00
$0.00
Preferred stock, authorized (in shares)
10.0M shares
10.0M shares
Preferred stock, issued (in shares)
0 shares
0 shares
Preferred stock, outstanding (in shares)
0 shares
0 shares
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, authorized (in shares)
500.0M shares
500.0M shares
Common stock, issued (in shares)
106.1M shares
102.1M shares
Common stock, outstanding (in shares)
106.1M shares
102.1M shares
Cash from operations91011128$42.9M in 2025Capital spending91011128$1.5M in 2025−58% since 2019Free cash flow91011128$41.4M in 2025Dividends paid91011$0 in 2023Share buybacks91011$0 in 2023
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
Net loss
-$47.7M
-$40.8M
-$62.9M
Depreciation and amortization expense
$26.9M
$10.5M
$10.6M
Accrued interest on marketable securities, net
-$854.0K
-$1.1M
-$3.2M
Stock-based compensation expense
$76.2M
$59.4M
$51.2M
Amortization of discount and debt issuance costs
$2.0M
$210.0K
$138.0K
Gain on financial instruments
$0
$0
-$532.0K
Loss on extinguishment of debt
$0
$0
$409.0K
Loss on impairment of intangible assets
$1.7M
$0
$0
Gain on lease modification
$0
$0
-$375.0K
Deferred taxes
-$11.8M
$109.0K
-$32.0K
Accounts receivable
-$11.3M
-$3.2M
-$9.3M
Prepaid expenses and other assets
-$9.4M
-$4.0M
$425.0K
Accounts payable and accrued liabilities
$19.7M
$3.3M
$91.0K
Deferred costs
-$12.3M
-$8.6M
-$7.7M
Deferred revenues
$9.7M
$2.7M
$3.6M
Net cash provided by (used in) operating activities
$42.9M
$18.6M
-$17.5M
Purchase of marketable securities
-$45.2M
-$40.4M
-$140.8M
Proceeds from sales, maturities, and redemptions of marketable securities
$31.8M
$71.3M
$181.0M
Purchases of property and equipment
-$1.5M
-$1.2M
-$1.1M
Capitalized software development costs
-$7.1M
-$6.7M
-$5.2M
Acquisition of business, net of cash acquired
-$375.5M
$0
$0
Net cash (used in) provided by investing activities
-$397.6M
$23.0M
$33.9M
Payments on revolving loan
-$45.0M
$0
$0
Principal payments on debt
$0
$0
-$85.0M
Payment of holdback funds from acquisition
$0
$0
-$3.6M
Debt issuance costs paid
-$1.9M
-$363.0K
-$341.0K
Proceeds from ESPP issuance
$5.3M
$4.7M
$4.1M
Proceeds from issuance of convertible senior notes
$335.5M
$0
$0
Proceeds from borrowing under revolving loan
$60.0M
$0
$0
Purchase of capped calls
-$33.9M
$0
$0
Payments for taxes related to net settlement of equity awards
$0
-$12.8M
-$16.0M
Proceeds from stock option exercises
$3.7M
$20.2M
$13.0M
Net cash provided by (used in) financing activities
$323.8M
$11.8M
-$87.8M
Net (decrease) increase in cash and cash equivalents
Alkami Technology sits at the top of its group. 6 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
JANA Partners Management, LPFiled SCHEDULE 13D on Alkami Technology, latest Jun 29, 2026 (3 filings since Apr 1, 2026)
GENERAL ATLANTIC, L.P.Filed SCHEDULE 13D/A on Alkami Technology, latest May 15, 2026 (7 filings since Feb 11, 2022)
VANGUARD GROUP INCFiled SCHEDULE 13G/A on Alkami Technology, latest Mar 26, 2026 (4 filings since Nov 4, 2024)
Capital International InvestorsFiled SCHEDULE 13G/A on Alkami Technology, latest Feb 13, 2026 (2 filings since Aug 13, 2025)
BlackRockFiled SCHEDULE 13G on Alkami Technology, latest Jul 17, 2025
ARG Private Equity II, LLCFiled SCHEDULE 13G/A on Alkami Technology, latest Feb 6, 2025 (4 filings since Feb 11, 2022)
S3 Ventures Fund III, L.P.Filed SCHEDULE 13G/A on Alkami Technology, latest Feb 6, 2025 (4 filings since Feb 9, 2022)
D1 Capital Partners L.P.Filed SC 13G/A on Alkami Technology, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
Alkami TechnologyPlano, Texas, United States
Alkami ACH Alert, LLC Subsidiary · Delaware, United States
Alkami MK, LLC Subsidiary · Delaware, United States
Alkami Technology India Private Limited, Inc. Subsidiary · India
Fin Technologies, Inc. d/b/a MANTL Subsidiary · Delaware, United States
Segmint, Inc. Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Alkami Technology reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our principal executive offices are located in Plano, Texas. The leased space in Plano, Texas has approximately 83,939 square feet with a remaining term until August 31, 2033. We believe our current facilities will be adequate for our needs for the current term.
Oct 28, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.07) a share, on Oct 30, 2025.51
When it reported results
Jul 29, 2026Reported quarterly or annual results40
Apr 29, 2026Reported quarterly or annual results43
Feb 25, 2026Reported quarterly or annual results45
Oct 30, 2025Reported quarterly or annual results46
Jul 30, 2025Reported quarterly or annual results47
Apr 30, 2025Reported quarterly or annual results50
Feb 27, 2025Reported quarterly or annual results52
Oct 30, 2024Reported quarterly or annual results53
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
523 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 351 insider forms, 29 large holders, 75 other. The latest 20:
151 open-market trades by officers, directors and large owners since October 2021: 30 buys and 121 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).7
Risk factors and legal proceedings
The risks Alkami Technology names in Item 1A of its 10-K filed Feb 26, 2026: 55 risks under these headings, as written.7
Risks Relating to Our Business
Our business and operations have experienced rapid growth, and if we do not appropriately manage future growth, if any, or are unable to improve our systems and processes, our business, financial condition and results of operations may be adversely affected.
If we are unable to attract new clients, continue to broaden our existing clients’ use of our solutions or develop and maintain resale agreements with favorable terms, our business, financial condition and results of operations could be materially and adversely affected.
Growth of our business depends on a strong brand, and any failure to maintain, protect and enhance our brand could hurt our ability to retain or expand our base of clients.
We may not accurately predict the long-term rate of client subscription renewals or adoption of our solutions, or any resulting impact on our revenues or results of operations.
Our sales cycle can be unpredictable, time-consuming and costly, which could materially and adversely affect our business, financial condition and results of operations.
We leverage third-party software, content and services for use with our solutions. Performance issues, errors and defects, or failure to successfully integrate or license necessary third-party software, content or services on favorable terms, could cause delays, errors or failures of our solutions, increases in our expenses and reductions in our sales, which could materially and adversely affect our business, financial condition and results of operations.
If we are unable to effectively integrate our solutions with other systems used by our clients, or if there are performance issues with such third-party systems, our solutions will not operate effectively, and our business, financial condition and results of operations could be materially and adversely affected.
If our clients are not satisfied with our digital banking solutions or our systems and infrastructure fail to meet their needs, our business, financial condition and results of operations could be materially and adversely affected.
We depend on data centers operated by third parties and third-party internet hosting providers, principally Amazon Web Services, and any disruption in the operation of these facilities or access to the internet could adversely affect our business.
Defects, errors or other performance problems in the Alkami Digital Sales & Service Platform could harm our reputation, result in significant costs to us, impair our ability to sell our solutions and subject us to substantial liability.
We rely on our management team and other key employees, and the loss of one or more key employees could harm our business.
The other 44 risks
Because competition for key employees is intense, we may not be able to attract and retain the highly skilled employees we need to support our operations and future growth.
From time to time, we encounter implementation challenges as a result of our clients’ integration and functionality requirements, and when this occurs, we must delay revenue recognition, and in certain circumstances, we may never recognize the revenue, which could materially and adversely affect our business, financial condition and results of operations.
Shifts over time in the number of account holders and registered users of our solutions, their use of our solutions and our clients’ implementation and client support needs could negatively affect our profit margins.
If we fail to provide high-quality client support, our business and reputation could suffer.
We may acquire or invest in companies, or pursue business partnerships, which may divert our management’s attention or result in dilution to our stockholders, and we may be unable to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions, investments or partnerships.
Natural or man-made disasters and other similar events, such as the COVID-19 pandemic, could significantly disrupt our business, and materially and adversely affect our business, financial condition and results of operations.
Our use and reliance upon technology and development resources in India may expose us to unanticipated costs and liabilities, which could affect our ability to realize cost savings from our technology operations in India.
We are subject to various risks associated with environmental and social matters.
Risks Relating to Cybersecurity, Data Privacy and Artificial Intelligence
A breach or other compromise of our security measures or those of third parties we rely on could materially and adversely impact our reputation, business, financial condition and results of operations.
Privacy and data security concerns, data collection and transfer restrictions, contractual obligations and U.S. and foreign laws, regulations and industry standards related to data privacy, security and protection could materially and adversely affect our business, financial condition and results of operations.
AI presents risks and challenges that can impact our business, including by posing security risks to our confidential information, proprietary information and personal data, increasing our regulatory and compliance burden and increasing competition.
Risks Relating to Our Industry
We face intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition and results of operations.
We derive all of our revenues from clients in the financial services industry, and any downturn, consolidation or decrease in technology spend in the financial services industry could materially and adversely affect our business, financial condition and results of operations.
If we fail to respond to evolving technological requirements or introduce adequate enhancements and new features, our digital banking solutions could become obsolete or less competitive.
If the market for digital banking solutions develops more slowly than we expect or changes in a way that we fail to anticipate, our sales would suffer, and our business, financial condition and results of operations could be materially and adversely affected.
Risks Relating to Our Intellectual Property, Software and Third-Party Licenses
Our intellectual property rights are valuable, and any inability to protect them could reduce the value of our products, services and brand.
Some of our products and services contain open-source software, which may pose particular risks to our proprietary software, products and services in a manner that could have a material and adverse effect on our business, financial condition and results of operations.
We may be obligated to disclose our proprietary source code to our clients, which may limit our ability to protect our intellectual property and proprietary rights, reduce the renewals of our solutions and increase the risk of successful hacking attempts.
Claims by others that we infringe upon, misappropriate or otherwise violate their intellectual property or other proprietary technology rights could have a material and adverse effect on our business, financial condition and results of operations.
If we fail to comply with our obligations under license or technology agreements with third parties, we may be required to pay damages, and we could lose license rights that are critical to our business.
If we cannot license rights to use technologies on reasonable terms, we may not be able to commercialize new products in the future.
Risks Relating to our Financial Results, Operating History, Indebtedness and Capital Structure
Our quarterly and annual results of operations are likely to fluctuate in future periods.
Because we recognize revenues from our solutions over the terms of our client agreements, beginning from live use of the service, the impact of changes in the subscriptions for our solutions will not be immediately reflected in our operating results.
We have a history of operating losses and may not achieve or maintain profitability in the future.
Our ability to raise capital in a timely manner, if needed in the future, may be limited, or such capital may be unavailable on acceptable terms, if at all. Our failure to raise capital, if needed, could materially and adversely affect our business, financial condition and results of operations, and any debt or equity issued to raise additional capital may reduce the value of our common stock.
Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
Unanticipated changes in tax laws or regulations could have an adverse effect on our business and results of operations.
Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under the 2030 Convertible Notes.
The terms of our Amended Credit Agreement require us to meet certain operating and financial covenants and place restrictions on our operating and financial flexibility. If we raise additional capital through debt financing, the terms of any new debt could further restrict our ability to operate our business.
We may be unable to raise the funds necessary to repurchase the 2030 Convertible Notes for cash following a fundamental change or to pay any cash amounts due upon maturity or conversion of the 2030 Convertible Notes, and our other indebtedness may limit our ability to repurchase the 2030 Convertible Notes or to pay any cash amounts due upon their maturity or conversion.
The accounting method for the 2030 Convertible Notes could adversely affect our reported financial condition and results.
We are subject to counterparty risk with respect to the Capped Calls.
Future strategic initiatives, including acquisitions of businesses and strategic investments, could negatively affect our business, financial condition and results of operations if we fail to integrate the acquired businesses and their employees successfully into our existing operations or achieve the desired results of our initiatives.
Risks Related to Ownership of Our Common Stock
Transactions relating to our 2030 Convertible Notes may affect the value of our common stock.
Substantial future sales of shares of our common stock could cause the market price of our common stock to decline.
We are currently restricted in our ability, and for the foreseeable future do not intend, to pay dividends on our common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
The principal stockholders of Alkami will continue to have significant influence over the election of the board of directors and approval of any significant corporate actions.
Provisions in the Indenture could delay or prevent an otherwise beneficial takeover of us.
Anti-takeover provisions contained in our charter documents and Delaware law could prevent a takeover that stockholders consider favorable and could also reduce the market price of our stock.
Our amended and restated certificate of incorporation and amended and restated bylaws provide for an exclusive forum in the Court of Chancery of the State of Delaware for certain disputes between us and our stockholders, and that the federal district courts of the United States of America will be the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act.
The trading price of our common stock has been and may continue to be volatile.
Our business could be negatively affected as a result of actions of activist stockholders or others.
We incur significant expenses and administrative burdens as a public company, which could have a material adverse effect on our operations and financial results.
Legal proceedings
From time to time, we may become involved in legal proceedings arising in the ordinary course of our business. Our management believes that there are no claims or actions pending against us, the ultimate disposition of which would have a material impact on our business, financial condition, results of operations or cash flows.