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Mar 31, 2024
Alkami Tech Q1 2024 Earnings Report
Delivered robust performance with significant user growth and expanded non-GAAP gross margin.
Key Takeaways
Alkami Technology, Inc. reported a 26.9% increase in GAAP total revenue to $76.1 million for the first quarter ending March 31, 2024. The company also saw a rise in GAAP gross margin to 57.8% and an adjusted EBITDA of $3.8 million.
GAAP total revenue increased by 26.9% year-over-year to $76.1 million.
GAAP gross margin improved to 57.8%, compared to 53.6% in the year-ago quarter.
Adjusted EBITDA was $3.8 million, a significant improvement from the $(2.9) million loss in the prior year.
Ended the quarter with Annual Recurring Revenue of $303 million, up 26.1% compared to the year-ago quarter.
Forward Guidance
Alkami is providing guidance for its second quarter ending June 30, 2024 and for the fiscal year ending December 31, 2024.
Positive Outlook
- GAAP total revenue in the range of $80.5 million to $82.0 million for Q2 2024.
- Adjusted EBITDA in the range of $2.8 million to $3.8 million for Q2 2024.
- GAAP total revenue in the range of $328.5 million to $333.0 million for the fiscal year 2024.
- Adjusted EBITDA in the range of $20.5 million to $23.5 million for the fiscal year 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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