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Jun 30, 2024
Alkami Tech Q2 2024 Earnings Report
Alkami demonstrated strong operating and financial performance, driven by new client acquisitions, add-on sales, and renewals.
Key Takeaways
Alkami Technology, Inc. reported GAAP total revenue of $82.2 million for the second quarter of 2024, a 24.9% increase compared to the year-ago quarter. The company achieved a GAAP gross margin of 59.4% and an adjusted EBITDA of $4.6 million. Alkami ended the quarter with 18.6 million live registered users, up 2.7 million compared to the prior-year quarter.
GAAP total revenue increased by 24.9% year-over-year to $82.2 million.
GAAP gross margin improved to 59.4% compared to 53.9% in the year-ago quarter.
Adjusted EBITDA was $4.6 million, compared to a loss of $(2.5) million in the year-ago quarter.
The company signed eight new digital banking clients in the second quarter.
Alkami Tech
Alkami Tech
Forward Guidance
Alkami is providing guidance for its third quarter ending September 30, 2024 and fiscal year ending December 31, 2024.
Positive Outlook
- GAAP total revenue in the range of $83.8 million to $85.3 million for Q3 2024.
- Adjusted EBITDA in the range of $5.8 million to $6.8 million for Q3 2024.
- GAAP total revenue in the range of $330.5 million to $333.5 million for fiscal year 2024.
- Adjusted EBITDA in the range of $22.0 million to $24.0 million for fiscal year 2024.