# Alkami Technology, Inc. (ALKT)

> Source: Nexqual · https://nexqual.com/ALKT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Alkami Technology, Inc. (ALKT), nexqual.com/ALKT" · informational, not investment advice.

**Price:** USD 15.95 (+5.63% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 15.1 · day 15.08–15.96 · 52w 13.21–24.47 · market cap $1.71B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $476M, net income -$48.7M (-10.2% margin) (SEC filings).
- 1 of 80 tracked superinvestors hold ALKT (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.25 on a 1–5 scale) (8 analysts), mean target USD 19.86 (range 14–25).
- Total return with dividends: 1Y -31.8% vs S&P 500 +14.9%; 5Y -44.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.2, revenue estimate $134M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $152M | $204M | $265M | $334M | $444M | $476M |
| Gross profit | $83.8M | $108M | $144M | $197M | $257M | — |
| Operating income | -$42.9M | -$57.7M | -$63.7M | -$44.6M | -$53.6M | -$45.9M |
| Net income | -$46.8M | -$58.6M | -$62.9M | -$40.8M | -$47.7M | -$48.7M |
| EPS (diluted) | -$0.73 | -$0.64 | -$0.67 | -$0.41 | -$0.46 | — |
| Free cash flow | -$30.1M | -$39.1M | -$18.6M | $17.4M | $41.4M | — |
| Gross margin | 55.1% | 53.0% | 54.4% | 58.9% | 57.8% | — |
| Operating margin | -28.2% | -28.2% | -24.1% | -13.4% | -12.1% | -9.7% |
| Net margin | -30.8% | -28.7% | -23.8% | -12.2% | -10.7% | -10.2% |
| Revenue growth | +35.7% | +34.2% | +29.6% | +26.1% | +32.9% | — |
| Cash + short-term investments | $309M | $196M | $92.1M | — | — | — |
| Total debt | $24.6M | $84.6M | $0K | $0K | $336M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 3.6x · P/B 4.7x · Earnings yield -2.86%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ALKT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.01% | $7.7M | New position |

## Analysts
Consensus Buy (mean 2.25 on a 1–5 scale), 8 analysts; mean target USD 19.86 (low 14, high 25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Barclays | Target lowered | Equal-Weight | $21 → $15 |
| 2026-09-24 | JP Morgan | Downgrade | Overweight → Underweight | $24 → $14 |
| 2026-09-24 | Citizens | Reiterated | Market Outperform | $24 |
| 2026-08-24 | JP Morgan | Target raised | Overweight | $19 → $24 |
| 2026-08-24 | Needham | Target raised | Buy | $22 → $25 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -31.8% | -44.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -31.8% | -11.0% |
| Volatility (annualized) | 52.6% | 50.6% |
| Max drawdown | -43.9% (Oct 2025→Sep 2026) | -66.3% (Nov 2024→Oct 2026) |

## Peers (Software - Application)
APPF (AppFolio, Inc.) USD 217.33 +0.06% · DSGX (The Descartes Systems Group Inc) USD 94 +1.74% · TTAN (ServiceTitan, Inc.) USD 85.2 +3.50% · IDCC (InterDigital, Inc.) USD 332.06 -0.78% · YMM (Full Truck Alliance Co. Ltd.) USD 8.35 -1.76% · PCOR (Procore Technologies, Inc.) USD 62.29 +2.27%

## More
Full page: https://nexqual.com/ALKT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| SaaS subscription services | $123.0M | 94.7% | +16.2% |
| Other services | $3.5M | 2.7% | +19.9% |
| Implementation services | $3.3M | 2.6% | +2.5% |
| Total revenue | $129.8M | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "Alkami is providing guidance for its fiscal year ending December 31, 2026 of: • GAAP total revenue in the range of $528.0 million to $531.0 million; • Adjusted EBITDA in the range of $96.0 million to $98.0 million."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.20 | $0.22 | -8.8% | $133.5M | 7 |
| Next quarter (ends 2026-12-31) | $0.26 | $0.26 | +1.0% | $140.3M | 7 |
| Current fiscal year (ends 2026-12-31) | $0.81 | $0.81 | -1.0% | $529.9M | 6 |
| Next fiscal year (ends 2027-12-31) | $1.10 | $1.13 | -3.0% | $618.1M | 7 |