Alkami Technology, Inc. reported significant financial results for the third quarter of 2025, with revenues reaching $112.9 million, a 31.6% increase from $85.9 million in the same period last year. For the nine months ending September 30, 2025, total revenues amounted to $322.8 million, up 32.2% from $244.2 million in the prior year. Despite this revenue growth, the company recorded a net loss of $14.8 million for the quarter, compared to a loss of $9.4 million in Q3 2024. The nine-month net loss also widened to $36.2 million from $33.2 million year-over-year.
The company's balance sheet showed total assets of $835.2 million as of September 30, 2025, a substantial increase from $437.3 million at the end of 2024. This growth was primarily driven by the acquisition of MANTL, which added $403.4 million in goodwill and $165.6 million in intangible assets. The acquisition, completed in March 2025, was valued at approximately $375 million and is expected to enhance Alkami's offerings in onboarding and account opening solutions for financial institutions.
Operationally, Alkami's customer base expanded, with the company reporting a significant increase in user engagement metrics. The number of shares outstanding rose to 105 million from 102 million at the end of 2024, reflecting the issuance of new shares related to stock-based compensation and the acquisition. The company also reported a total of $1.6 billion in remaining performance obligations, indicating a strong pipeline of future revenue, with nearly 50% expected to be recognized over the next 24 months.
In terms of strategic developments, Alkami's recent merger with MANTL is expected to bolster its market position by providing complementary solutions to its existing platform. The company has also made adjustments to its credit facilities, increasing its revolving loan commitment to $225 million, which will support ongoing operational needs and future growth initiatives. Looking ahead, Alkami anticipates continued revenue growth driven by its expanded product offerings and customer base, although it remains focused on managing its operating expenses to improve profitability.
About ALKAMI TECHNOLOGY, INC.
Alkami Technology, Inc. is a cloud-based digital banking solutions provider focused on empowering community and regional financial institutions (FIs) to compete with larger banks. Its Alkami Digital Banking Platform offers a comprehensive suite of products, including account opening, fraud protection, and data analytics. Targeting the top 2,500 FIs, Alkami aims to enhance user experience and operational efficiency while capitalizing on a significant market opportunity in the evolving banking landscape.
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