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Sep 30, 2023
Alkami Tech Q3 2023 Earnings Report
Alkami reported strong performance in Q3 2023 with increased revenue and user base.
Key Takeaways
Alkami Technology, Inc. announced its Q3 2023 financial results, featuring a 27% increase in GAAP total revenue compared to the year-ago quarter and growth in digital banking users.
GAAP total revenue increased by 27% year-over-year to $67.7 million.
GAAP gross margin improved to 54.0% from 51.6% in the year-ago quarter.
Ended the quarter with 16.9 million digital banking users, a 23% increase year-over-year.
Annual Recurring Revenue (ARR) grew by 29% year-over-year to $275 million.
Alkami Tech
Alkami Tech
Forward Guidance
Alkami is providing guidance for its fourth fiscal quarter ending December 31, 2023 of: GAAP total revenue in the range of $70.5 million to $71.5 million; Adjusted EBITDA in the range of $2.5 million to $3.0 million.
Positive Outlook
- GAAP total revenue in the range of $70.5 million to $71.5 million for Q4 2023.
- Adjusted EBITDA in the range of $2.5 million to $3.0 million for Q4 2023.