Alkami Tech Q2 2023 Earnings Report
Key Takeaways
Alkami Technology, Inc. announced its Q2 2023 financial results, reporting a 30% increase in GAAP total revenue compared to the year-ago quarter. The company added 16 new digital banking platform clients in the first half of the year, including 10 in the second quarter. Alkami exited the quarter with $257 million in Annual Recurring Revenue, up 26% compared to the year-ago quarter.
GAAP total revenue was $66 million, an increase of 30% compared to the year-ago quarter.
GAAP gross margin was 54%, compared to 54% in the year-ago quarter.
Non-GAAP gross margin was 59%, compared to 58% in the year-ago quarter.
Adjusted EBITDA loss was $(3) million, compared to $(5) million in the year-ago quarter.
Alkami Tech
Alkami Tech
Forward Guidance
Alkami is providing guidance for its third fiscal quarter ending September 30, 2023 of: GAAP total revenue in the range of $66.5 million to $67.5 million; Adjusted EBITDA loss in the range of ($1.25) million to ($0.25) million. Alkami is providing guidance for its calendar year ending December 31, 2023 of: GAAP total revenue in the range of $261.5 million to $264.5 million; Adjusted EBITDA loss in the range of ($4.25) million to ($2.25) million.
Positive Outlook
- GAAP total revenue in the range of $66.5 million to $67.5 million for Q3 2023
- Adjusted EBITDA loss in the range of ($1.25) million to ($0.25) million for Q3 2023
- GAAP total revenue in the range of $261.5 million to $264.5 million for the year 2023
- Adjusted EBITDA loss in the range of ($4.25) million to ($2.25) million for the year 2023