Alkami Technology Stock Earnings Reports

Alkami reported a strong Q1 2026 with 29% revenue growth to $126.1M, ARR exiting at $494M (up 22%), and adjusted EBITDA of $22.3M (17.7% margin), outperforming expectations. Subscription revenue represented 96% of sales. The recently acquired MANTL contributed meaningfully to growth and cross-sell opportunity (about 14 p.p. of Q1 growth) and has shown strong standalone logo additions (61 since early 2025). Alkami is pushing its Digital Sales & Service Platform (DSSP) — an integrated front-end combining online banking, deposit origination, and loan origination — which the company says drives higher initial contract values, longer durations, stronger retention, and ~30% higher ARPU on DSSP deals versus legacy online banking deals. Alkami emphasized high visibility from multi-year contracts, low churn (<1% annual digital banking ARR historically), a $1.7B remaining performance obligation (≈3.5x live ARR), and $71M ARR backlog (40 clients) expected to go live over the next 12 months. Management highlighted AI and new telemetry product Alkami Engage as strategic enablers for personalization, co-pilots, and analytics, currently in prototype and early client tests. Guidance: Q2 revenue $128–129M (14.2–15.1% growth), Q2 adjusted EBITDA $17.9–18.7M; full-year revenue $527.1–530.9M (18.8–19.7% growth) with adjusted EBITDA $94.9–97.9M (≈18.2% margin). Gross margin expected to approach 70% over time; adjusted EBITDA margin expansion of ~300 bps annually targeted and Rule of 45 by 2030. Board approved inaugural $100M share repurchase authorization. Management reiterated the replacement-driven, predictable nature of the market and said future growth will rely more on expanding value per client (land-and-expand) rather than dramatic spikes in new logos given long contract cycles.