Alkami Technology
Unifies digital banking, account opening, data marketing, and fraud controls for U.S. financial institutions.
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Profile
Sells a cloud-based digital sales and service platform to U.S. banks and credit unions, spanning digital banking, account opening, data-driven marketing, and fraud controls. Most revenue comes from long-term SaaS subscriptions priced through monthly minimums and usage, while delivery depends on complex integrations with core and third-party systems.
Provides U.S. banks and credit unions with the cloud-based Alkami Digital Sales & Service Platform. The Alkami Digital Banking Platform handles retail and business account servicing; MANTL supports omnichannel deposit and loan account opening; Segmint supplies transaction-data analytics and targeted marketing; and ACH Alert adds payment-fraud controls.
Long-term SaaS contracts generate most revenue through monthly minimums, registered-user fees, and selected transaction charges. A multi-tenant, single-code-base architecture supports shared updates, integrations, and product expansion, while implementation and support services connect the software to client systems.
Serves community, regional, and super-regional financial institutions across the United States. Delivery depends on subscription renewals, growth in registered users, successful implementations, and reliable connections to core banking systems, third-party fintech services, and AWS infrastructure.
Company facts
Categories
Key statistics
Year to date −10.9% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Needham | Reiterate | Buy | $22 | $25 | |
| Feb 26, 2026 | Needham | Reiterate | Buy | $32 | $22 | |
| Oct 31, 2025 | Needham | Reiterate | Buy | $54 | $32 | |
| Oct 31, 2025 | Goldman Sachs | Target | $26 | |||
| Mar 13, 2025 | Stephens & Co. | Upgrade | Equal Weight | Overweight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.15 | $0.12 | −19.8% | $128.7M | $129.8M | +0.9% | −2.84% |
| Apr 29, 2026Q1 FY26 | $0.21 | $0.04 | −81.0% | $125.2M | $126.1M | +0.7% | −3.90% |
| Feb 25, 2026Q4 FY25 | $0.15 | $0.10 | −33.3% | $120.1M | $120.8M | +0.6% | −4.52% |
| Oct 30, 2025Q3 FY25 | $0.15 | $0.13 | −13.3% | $120.1M | $113.0M | −6.0% | −7.73% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $97.8M | $112.1M | $113.0M | $120.8M | $126.1M | $129.8M | |
| Gross profit | $57.8M | $65.6M | $64.1M | $69.1M | $72.2M | $73.8M | |
| Operating income | −$15.4M | −$15.9M | −$12.9M | −$9.5M | −$5.7M | −$7.7M | |
| Net income | −$7.8M | −$13.6M | −$14.8M | −$11.4M | −$10.0M | −$8.9M | |
| Diluted EPS | −$0.08 | −$0.13 | −$0.14 | −$0.11 | −$0.09 | −$0.09 | |
| Gross margin | 59.0% | 58.6% | 56.8% | 57.2% | 57.2% | 56.8% | |
| Operating margin | -15.7% | -14.2% | -11.4% | -7.9% | -4.5% | -5.9% |
Fiscal years (4-quarter sums)FY21 $152.2M · FY22 $204.3M · FY23 $264.8M · FY24 $333.8M · FY25 $443.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $81.0M · Total debt $358.2M · Total assets $831.1M · Shareholders' equity $362.7M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 106.94M · Float 60.77M · 56.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| GAP (Bermuda) L.P. | 19.42M | 18.10% | 13D | May 15, 2026 |
| General Atlantic, L.P. | 19.38M | 18.12% | 13F | Aug 14, 2026 |
| Brian R. Smith · director, 10 percent owner: | 14.78M | 13.82% | Form 4 | Jul 7, 2026 |
| North Reef Capital Management LP | 9.23M | 8.63% | 13F | Aug 14, 2026 |
| Jana Partners Management, LP | 6.75M | 6.31% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 12, 2026 | Atlantic L.p. General | director, 10 percent owner: | +750,000 | $16.87 |
| May 13, 2026 | Atlantic L.p. General | director, 10 percent owner: | +550,000 | $16.63 |
| May 14, 2026 | Atlantic L.p. General | director, 10 percent owner: | +675,000 | $16.49 |
| May 12, 2026 | Atlantic Genpar (bermuda) L.p. General | director, 10 percent owner: | +750,000 | $16.87 |
| May 13, 2026 | Atlantic Genpar (bermuda) L.p. General | director, 10 percent owner: | +550,000 | $16.63 |
Peers
- Q2
Cloud-native digital banking SaaS for U.S. banks and credit unions; $921M ARR
- Jack Henry & Associates
Core banking and digital banking (Banno) for community and regional U.S. FIs
- Fiserv
Global payments and core banking giant bundling digital tools for community FIs
- FIS
Core and digital banking provider spanning community-to-enterprise U.S. banks
- nCino
Cloud bank OS for commercial loan origination, account opening, and onboarding
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Alkami Technology | $20.22 | +0.05% | $2.16B | — | 20.7 | 4.4 | +15.9% |
| Q2 | $65.13 | +0.12% | $4.06B | 46.5 | 21.0 | 4.8 | +12.6% |
| Jack Henry & Associates | $169.73 | −0.01% | $12.06B | 24.4 | 23.1 | 4.8 | +4.7% |
| Fiserv | $53.30 | +0.24% | $28.36B | 10.2 | 7.2 | 1.4 | −10.0% |
| FIS | $41.31 | −0.33% | $21.42B | 6.3 | 6.5 | 1.7 | +29.1% |
| nCino | $22.99 | −0.13% | $2.52B | 76.6 | 16.0 | 4.0 | +8.2% |
| Median | 24.4 | 16.0 | 4.0 | +8.2% |