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Mar 31, 2023
Alkami Tech Q1 2023 Earnings Report
Alkami experienced healthy demand for its solutions and achieved significant growth in annual recurring revenue and digital banking users.
Key Takeaways
Alkami Technology, Inc. reported a 34% increase in GAAP total revenue to $60 million for the first quarter of 2023. The company also saw an 18% increase in digital banking users, reaching 15.1 million, and a 36% increase in Annual Recurring Revenue, reaching $240 million.
GAAP total revenue increased by 34% compared to the year-ago quarter, reaching $60 million.
GAAP gross margin was 54%, slightly lower than 55% in the year-ago quarter.
The company exited the quarter with 15.1 million digital banking users, an 18% increase year-over-year.
Annual Recurring Revenue (ARR) reached $240 million, a 36% increase compared to the year-ago quarter.
Alkami Tech
Alkami Tech
Forward Guidance
Alkami is providing guidance for its second quarter ending June 30, 2023 and for the calendar year ending December 31, 2023.
Positive Outlook
- GAAP total revenue in the range of $62.5 million to $63.5 million for Q2 2023.
- Adjusted EBITDA loss in the range of ($4.5) million to ($3.5) million for Q2 2023.
- GAAP total revenue in the range of $257 million to $261 million for the year 2023.
- Adjusted EBITDA loss in the range of ($6) million to ($3) million for the year 2023.