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Sep 30, 2022
Alkami Tech Q3 2022 Earnings Report
Alkami experienced revenue growth and client expansion, but also faced increased net losses and adjusted EBITDA loss.
Key Takeaways
Alkami announced its Q3 2022 financial results, reporting a 34% increase in GAAP total revenue compared to the year-ago quarter, reaching $53.4 million. The company added ten new logos to the Alkami digital banking community and successfully renewed six clients' contracts. However, the GAAP net loss increased to $(20.0) million, and the adjusted EBITDA loss was $(4.6) million.
GAAP total revenue increased by 34% year-over-year to $53.4 million.
GAAP gross margin was 52%, compared to 56% in the year-ago quarter.
Exited the third quarter with 13.7 million digital banking users, up 20% from the year-ago quarter.
Annual Recurring Revenue (ARR) reached $214 million, a 38% increase compared to the year-ago quarter.
Forward Guidance
Alkami provided guidance for its fourth quarter ending December 31, 2022.
Positive Outlook
- GAAP total revenue in the range of $54.3 million to $55.3 million
Challenges Ahead
- Adjusted EBITDA loss in the range of $(5.0) million to $(4.0) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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