Alkami Technology Reports 15.9% Revenue Growth to $129.8 Million in Latest Quarter

Alkami Technology, Inc. reported significant financial performance improvements in its latest quarterly filing, with total revenues reaching $129.8 million for the three months ended June 30, 2026, a 15.9% increase from $112.1 million in the same period last year. For the first half of 2026, revenues totaled $256.0 million, marking a 22.0% rise compared to $209.9 million in the first half of 2025. The growth was primarily driven by an increase in Software as a Service (SaaS) subscription revenues, which accounted for approximately 94.7% of total revenues in the second quarter. Despite the revenue growth, the company reported a net loss of $8.9 million for the quarter, an improvement from a loss of $13.6 million in the prior year, and a net loss of $18.9 million for the first half, down from $21.4 million.

The company’s operational metrics also showed positive trends, with a total of 313 financial institution (FI) clients served as of June 30, 2026, and over 1,000 clients when including those using products from recent acquisitions. The number of registered users on the platform increased by 12.9% year-over-year to 23,589, contributing to a revenue per registered user (RPU) of $21.69, up 7.0% from the previous year. The company implemented 39 new clients during the period, adding approximately 1.3 million digital users, which reflects its ongoing efforts to expand its market presence.

Alkami has also made strategic moves to enhance its product offerings and operational capabilities. The company continues to invest heavily in research and development, with expenses in this area rising to $31.4 million for the second quarter, up from $30.2 million a year earlier. This investment is aimed at enhancing the Alkami Digital Sales & Service Platform, which integrates various financial services for community and regional banks. Additionally, the company authorized a stock repurchase program of up to $100 million, with $15 million spent on repurchasing shares in the second quarter.

In terms of financial health, Alkami's total assets decreased to $831.1 million as of June 30, 2026, down from $847.2 million at the end of 2025. The company’s cash and cash equivalents stood at $45.5 million, a decline from $63.5 million at the end of the previous year. The total liabilities also decreased to $468.4 million, reflecting a reduction in accrued liabilities and accounts payable. The company’s accumulated deficit increased to $542.7 million, indicating ongoing investments in growth despite the losses.

Looking ahead, Alkami remains optimistic about its growth trajectory, emphasizing its commitment to expanding its client base and enhancing product adoption. The company expects to continue leveraging its innovative platform to drive user engagement and revenue growth, while also managing operational costs effectively. The strategic focus on deepening client relationships and expanding its product suite is anticipated to support long-term financial stability and growth.