Alkami Technology Q1 adj EBITDA nearly doubles on client expansion

Alkami Technology

29/04/2026 21:21

Overview

U.S. cloud banking platform's Q1 revenue rose 29% yr/yr, slightly beating analyst expectations

Adjusted EBITDA for Q1 nearly doubled yr/yr to $22.3 mln

Company announced $100 mln share repurchase program

Outlook

Alkami sees Q2 revenue between $128.0 mln and $129.0 mln

Company expects Q2 adjusted EBITDA of $17.9 mln to $18.7 mln

Alkami forecasts 2026 revenue of $527.1 mln to $530.9 mln

Result Drivers

CLIENT EXPANSION - Co said it expanded its client portfolio, signing 6 new digital banking clients and 14 new MANTL clients in the quarter

DIGITAL PLATFORM ADOPTION - Half of new client wins in Q1 were for the Digital Sales & Service Platform, reflecting demand for integrated digital banking solutions

USER AND REVENUE GROWTH - Registered users rose by 2.5 mln to 23 mln and revenue per registered user increased 9% yr/yr, supporting higher annual recurring revenue

Company press release: ID:nPnR32Yja

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$126.14 mln
$125.45 mln (10 Analysts)
Q1 Net Income
-$9.96 mln
Q1 Gross Margin
58.60%
Q1 Adjusted Gross Margin
64.40%
Q1 Gross Profit
$73.87 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the it services & consulting peer group is "buy"

Wall Street's median 12-month price target for Alkami Technology Inc is $21.50, about 32.1% above its April 28 closing price of $16.27

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)