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Jun 30, 2023
Alkami Tech Q2 2023 Earnings Report
Delivered strong operating and financial performance, added new digital banking platform clients, and saw continued momentum among banks.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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