ALKAMI TECHNOLOGY, INC. (ALKT): Results of Operations and Financial Condition
ALKAMI TECHNOLOGY, INC. (ALKT) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Alkami Announces Second Quarter 2026 Financial Results PLANO, Texas, July 29, 2026 (PRNewswire) -- Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami” or “the Company”), a digital sales and service platform provider for financial institutions in the U.S., today announce
How this was made
The 30-second read
Why it matters
The most tradable elements are the new Q3 and full-year 2026 guidance ranges for GAAP revenue and Adjusted EBITDA, plus the reported improvement in Adjusted EBITDA and annual recurring revenue (ARR).
Market read
This is a primary earnings-and-guidance update that can drive near-term repricing of ALKT’s growth and profitability outlook.
What to watch
Traders may focus on the gap between GAAP and non-GAAP margins, the pace of client onboarding (new logos and live clients), and whether the sales cycle timing supports the second-half pipeline implied by management.
Alkami Announces Second Quarter 2026 Financial Results
GAAP total revenue increased 15.9% year over year, adjusted EBITDA increased to $19.4 million from $11.9 million, and management guided to higher revenue and adjusted EBITDA in the third quarter and fiscal year. GAAP and non-GAAP gross margins were below the year-ago quarter, while the company remained at a GAAP net loss.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenueGAAP | $129.8 million | – | 15.9% |
| Gross marginGAAP | 56.8% | – | – |
| Gross marginnon-GAAP | 63.0% | – | – |
| Net lossGAAP | $(8.9) million | – | – |
| Adjusted EBITDAnon-GAAP | $19.4 million | – | – |
| Adjusted EBITDA marginnon-GAAP | 14.9% | – | nearly 430 basis points of expansion |
| Annual recurring revenueother | $511.7 million | – | 21% |
| Digital banking usersother | 23.6 million digital banking users | – | – |
| Registered users addedother | 2.7 million registered users | – | – |
| Revenue per registered userother | $21.69 | – | 7.0% |
| New digital banking logosother | 37 new digital banking logos | – | – |
| Banks included in new digital banking logosother | 15 banks | – | – |
| Clients brought live on the Digital Sales and Service Platformother | five clients | – | – |
third quarter ending September 30, 2026; fiscal year ending December 31, 2026 outlook
- RevenueThird quarter: GAAP total revenue in the range of $132.7 million to $134.2 million; fiscal year: GAAP total revenue in the range of $528.0 million to $531.0 million
- NoteThird quarter: Adjusted EBITDA in the range of $23.5 million to $24.3 million
- NoteFiscal year: Adjusted EBITDA in the range of $96.0 million to $98.0 million
What drove it
- Continued client and product expansion.
- Demand for modern digital solutions remains robust.
- 37 new digital banking logos over the last 12 months, including 15 banks.
- Five clients were brought live on the Digital Sales and Service Platform in the second quarter.
- The company cited a strong pipeline in the second half of 2026.
Concerns
- GAAP gross margin was 56.8%, compared to 58.6% in the year-ago quarter.
- Non-GAAP gross margin was 63.0%, compared to 65.1% in the year-ago quarter.
- The company reported a GAAP net loss of $(8.9) million.
- Management identified risks including operating losses, client acquisition and retention, unpredictable sales cycles, competition, financial-services technology spending, cybersecurity, acquisition integration, regulatory developments and the need for additional capital.
What to watch
- Third-quarter GAAP total revenue guidance of $132.7 million to $134.2 million.
- Third-quarter adjusted EBITDA guidance of $23.5 million to $24.3 million.
- Fiscal-year GAAP total revenue guidance of $528.0 million to $531.0 million.
- Fiscal-year adjusted EBITDA guidance of $96.0 million to $98.0 million.
- Gross-margin performance following the reported year-over-year declines in GAAP and non-GAAP gross margin.
- Conversion of the stated strong pipeline in the second half of 2026.
- Growth in annual recurring revenue, digital banking users and revenue per registered user.
Analysis
Alkami reported second-quarter GAAP total revenue of $129.8 million, an increase of 15.9% compared with the year-ago quarter. Management attributed the result to continued client and product expansion and said demand for modern digital solutions remained robust. The company reported 37 new digital banking logos over the last 12 months, including 15 banks, and brought live another five clients on its Digital Sales and Service Platform during the quarter.
Recurring and user-based operating metrics also expanded. Annual recurring revenue was $511.7 million, up 21% compared with the year-ago quarter. The company added 2.7 million registered users over the last 12 months and ended the quarter with 23.6 million digital banking users. Revenue per registered user was $21.69, up 7.0% compared with the year-ago quarter.
Profitability showed improvement in adjusted EBITDA but pressure in gross margin. Adjusted EBITDA was $19.4 million, compared with $11.9 million in the year-ago quarter, and adjusted EBITDA margin was 14.9%, reflecting nearly 430 basis points of expansion compared with the year-ago quarter. GAAP net loss was $(8.9) million, compared with $(13.6) million in the year-ago quarter. GAAP gross margin declined to 56.8% from 58.6%, while non-GAAP gross margin declined to 63.0% from 65.1%.
For the third quarter ending September 30, 2026, Alkami guided for GAAP total revenue of $132.7 million to $134.2 million and adjusted EBITDA of $23.5 million to $24.3 million. For the fiscal year ending December 31, 2026, it guided for GAAP total revenue of $528.0 million to $531.0 million and adjusted EBITDA of $96.0 million to $98.0 million. The key reported items to monitor are execution against that outlook, the stated second-half pipeline, recurring-revenue and user growth, and whether gross-margin declines persist alongside adjusted EBITDA expansion.
Management, verbatim
Our second quarter results reflected continued client and product expansion, with revenue growth and Adjusted EBITDA ahead of expectations. Demand for modern digital solutions remains robust, with 37 new digital banking logos over the last 12 months, including 15 banks, and a strong pipeline in the second half of 2026. In the second quarter, we brought live another five clients on our Digital Sales and Service Platform, enabling these clients to deepen relationships, deliver modern experiences and drive growth by connecting financial services ecosystems.
Alex Shootman, Chief Executive Officer
In the last 12 months, we added 2.7 million registered users to our digital banking platform, ending the quarter with 23.6 million digital banking users. We exited the second quarter with annual recurring revenue of $511.7 million, up 21% compared to the year-ago quarter and revenue per registered user of $21.69, up 7.0% compared to the year-ago quarter. Our second quarter adjusted EBITDA margin of 14.9% was above expectations, and reflected nearly 430 basis points of expansion compared to the year-ago quarter.
Cassandra Hudson, Chief Financial Officer
Not in the filing
stated, not guessed- GAAP operating income or loss
- Non-GAAP operating income or loss
- GAAP diluted EPS
- Non-GAAP diluted EPS
- Operating cash flow
- Free cash flow
- Cash and cash equivalents
- Debt
- Share repurchases
- Dividends
- Segment revenue and segment comparisons
- Revenue prior-quarter comparison
- Gross-margin year-over-year percentage change
- Net-loss year-over-year percentage change
- Adjusted EBITDA year-over-year percentage change
- Prior-quarter comparisons for reported metrics
- Guidance for gross margin, operating expenses and tax rate
- Previous-release outlook for comparison with actual results
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The 8-K (Item 2.02) attaches an earnings release for Alkami’s second quarter ended June 30, 2026, including reported results, key operating metrics, and forward guidance.
Ticker impact
Alkami reported Q2 2026 GAAP revenue of $129.8M (+15.9% YoY) and guided Q3 revenue to $132.7M-$134.2M with Adjusted EBITDA $23.5M-$24.3M.
Likely positive bias for the next session as traders reprice growth and profitability expectations around the new guidance ranges.
The filing includes both reported quarterly metrics (revenue, EBITDA, margins) and forward guidance for Q3 and full-year, which are direct inputs to valuation and near-term positioning.
Market effects
Signals demand and margin expansion for digital banking software vendors, potentially supporting sentiment across financial-institution technology spend.
Primarily US financial institutions and Nasdaq-listed software sentiment.
Limited direct global read-through beyond US banking digitalization trends.
Counterpoint
Despite revenue growth, GAAP gross margin and GAAP net loss both declined versus the year-ago quarter, so the stock may be sensitive to any skepticism about sustainability of non-GAAP profitability.
Key entities
- companyAlkami Technology, Inc.
Digital sales and service platform provider for US banks and credit unions; reported Q2 2026 results and issued Q3 and FY 2026 guidance.
- executiveAlex Shootman
CEO quoted on revenue growth, client expansion, and pipeline into 2H 2026.
- executiveCassandra Hudson
CFO quoted on registered user growth, ARR, and Adjusted EBITDA margin versus expectations.
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