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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.
Alkami Tech
Alkami Tech
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.