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Mar 31, 2022
Alkami Tech Q1 2022 Earnings Report
Alkami's sales performance thrived, closing five new logos and achieving significant add-on sales, with Annual Recurring Revenue reaching $177 million.
Key Takeaways
Alkami Technology, Inc. reported a 35% increase in GAAP total revenue to $44.8 million for the first quarter ending March 31, 2022. The company closed five new logos, renewed four clients and delivered another significant quarter of add-on sales.
GAAP total revenue increased by 35% year-over-year to $44.8 million.
GAAP gross margin was 55%, compared to 53% in the year-ago quarter.
Adjusted EBITDA loss improved to ($3.6) million, compared to ($6.1) million in the year-ago quarter.
Annual Recurring Revenue (ARR) reached $177 million, up 32% year-over-year.
Forward Guidance
Alkami provided financial outlook for the second quarter ending June 30, 2022, and for the full year ending December 31, 2022, including the impact of the Segmint acquisition.
Positive Outlook
- GAAP total revenue is expected to be in the range of $47.5 million to $48.5 million for Q2 2022.
- Adjusted EBITDA loss is projected to be in the range of ($7.0) million to ($5.5) million for Q2 2022.
- GAAP total revenue is anticipated to be in the range of $198.0 million to $201.0 million for the full year 2022.
- Adjusted EBITDA loss is expected to be in the range of ($21.0) million to ($18.0) million for the full year 2022.
- Segmint is expected to contribute approximately $9.0 million of revenue to the full year 2022.
Challenges Ahead
- Adjusted EBITDA loss is expected to be in the range of ($7.0) million to ($5.5) million for Q2 2022.
- Adjusted EBITDA loss is expected to be in the range of ($21.0) million to ($18.0) million for the full year 2022.
- Segmint is expected to have an Adjusted EBITDA range of ($1.0) million to an immaterial positive amount for the full year 2022.
Historical Earnings Impact
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