Alkami Tech Q3 2022 Earnings Report
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.
Alkami Tech
Alkami Tech
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.