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Sells cloud digital banking software that community banks and credit unions use for online and mobile banking.
Sells cloud digital banking software that community banks and credit unions use for online and mobile banking.
Charges recurring subscription fees from banks and credit unions, largely based on the number of digital users, so growth comes from signing new institutions and adding users and modules at existing ones.
Moat: narrow (switching costs, installed base). Digital banking platforms are deeply embedded in a bank's customer-facing operations, raising switching costs.
Headquarters: Plano, Texas, United States · Founded: 2009 · Employees: 1,225
Size Alkami Technology (ALKT) is a United States Information Technology company (Packaged Software) with a market value of $1.44B, the 2024th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.41 on 6 Nov 2026.
Performance Over six months the shares fell 25.4%, against -16.1% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue grew 24.0% over the last twelve months (peer median +9.7%); the operating margin is -5.4% (peer median 2.8%).
Valuation It trades at 13.1× forward earnings against a peer median of 16.8× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +32%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.5 points below its cost of capital (7.0% WACC).
Backlog Backlog (remaining performance obligations) was $1.70B at 30 Sep 2026, up 6% on a year earlier. Backlog detail →
Credit Alkami Technology has 1 bond outstanding ($345M).
Short interest Short interest is 6.1% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $512M | $444M | $334M | $265M | $204M |
| Revenue growth | — | +33% | +26% | +30% | — |
| Gross profit | $288M | $251M | $195M | $143M | $107M |
| EBITDA | $5.13M | -$21.6M | -$33.9M | -$52.8M | -$62.1M |
| Net income | -$37.0M | -$47.7M | -$40.8M | -$62.9M | -$58.6M |
| Free cash flow | $54.1M | $39.5M | $17.0M | -$18.9M | -$38.8M |
| Capital expenditure | $8.99M | $8.69M | $7.86M | $6.29M | $4.70M |
| Total debt | $358M | $369M | $18.5M | $19.3M | $104M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Alkami Technology ALKT | $1.44B | -25% | +24% | -5% | 13.1× | 12.6% |
| Q2 Holdings, Inc. QTWO | $4.57B | +47% | +13% | 13% | 22.5× | 26.6% |
| nCino NCNO | $2.40B | +28% | +9% | 9% | 15.8× | 23.9% |
| Jack Henry & Associates JKHY | $12.1B | +19% | +6% | 25% | 22.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ALKT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.4% | -0.3% | 8th lowest of 21 |
| 6-month return | -25.4% | -16.1% | 9th lowest of 20 |
| Distance from 52-week high | -45.2% | -40.2% | 8th lowest of 21 |
| Revenue growth (TTM) | +24.0% | +9.7% | 7th highest of 21 |
| Operating margin | -5.4% | 2.8% | 7th lowest of 21 |
| Forward P/E | 13.1× | 16.8× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 12.6% | 12.7% | 8th least demanding of 15 |
| Growth delivered (Del g) | +31.7% | +13.9% | 5th highest of 15 |
| Hurdle (Req g minus delivered) | -19.1 pp | +0.6 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | -10.5 pp | -7.3 pp | 8th lowest of 20 |
| Net debt / EBITDA | 53.1× | -2.4× | most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Alkami Technology ALKT | United States | $1.44B | -25% | +24% | -5% | 13.1× | 12.6% | +31.7% |
| EverCommerce EVCM | United States | $1.45B | -31% | -7% | 13% | 11.7× | 11.6% | +11.8% |
| NextNav NN | United States | $1.45B | -56% | -36% | -1,900% | n/a | n/a | n/a |
| GO Inc. 581A.T | Japan | $1.45B | n/a | +32% | 17% | 21.9× | 34.7% | +31.9% |
| Systex 6214.TW | Taiwan | $1.46B | +54% | +34% | 3% | 16.6× | -12.4% | +13.1% |
| Shenzhen Kingdom Sci-tech 600446.SS | China | $1.41B | -27% | -22% | -6% | 177.0× | n/a | n/a |
| PearlAbyss 263750.KS | South Korea | $1.47B | -44% | +114% | 40% | 7.1× | n/a | n/a |
| Exzeo XZO | United States | $1.47B | +21% | +329% | 49% | 14.8× | -8.4% | +59.0% |
| Pagaya Technologies PGY | United States | $1.47B | +15% | +11% | 22% | 7.8× | 4.1% | +68.9% |
| Longshine Technology 300682.SZ | China | $1.39B | -35% | +7% | -9% | 25.9× | 49.4% | +6.0% |
| Phancy 6682.HK | Hong Kong | $1.48B | -45% | +42% | -5% | 88.0× | n/a | n/a |
| Playtech PTEC.L | United Kingdom | $1.39B | +7% | -54% | 0% | 11.4× | -6.0% | -7.4% |
| Wondershare Technology 300624.SZ | China | $1.38B | -25% | -8% | -12% | n/a | n/a | n/a |
| Fractal Analytics FRACTAL.NS | India | $1.49B | -27% | +19% | 12% | 41.5× | 31.4% | +18.5% |
| Lightspeed Commerce LSPD.TO | Canada | $1.38B | +9% | +11% | -9% | 14.4× | 13.5% | +42.0% |
| Zensar Technologies ZENSARTECH.NS | India | $1.37B | +9% | +9% | 14% | 16.9× | 13.4% | +8.5% |
| Wuxi Boton Technology 300031.SZ | China | $1.50B | +8% | +22% | 2% | 32.5× | 30.2% | +5.6% |
| BlackLine BL | United States | $1.50B | -15% | +9% | 7% | 10.0× | 12.1% | +14.8% |
| Ibotta IBTA | United States | $1.37B | +19% | +2% | -3% | n/a | -1.1% | +17.6% |
| YGsoft 002063.SZ | China | $1.51B | -16% | +5% | 13% | 31.0× | 16.3% | +8.9% |
| Transwarp Technology Shanghai 688031.SS | China | $1.35B | -45% | +27% | -49% | n/a | n/a | n/a |
Alkami Technology has 1 bond outstanding with $345M face value.
Alkami Technology reported $1.70B of remaining performance obligations at 30 Sep 2026, up 6% from a year earlier and flat from the previous quarter. Book-to-bill last quarter: 1.00.