Alkami reports Q1 EPS (8c), consensus 9c

Reports Q1 revenue $97.8M, consensus $94.38M. CEO Alex Shootman said, “In Q1, we delivered another outstanding quarter of strong revenue growth and profitability, with revenue growth of 28.5% and Adjusted EBITDA of $12.1M. We exited Q1 with 20.5 million users on the Alkami (ALKT) platform, up 2.3 million compared to the year-ago quarter, and we continued to lead the industry in market share gains. As we kick off 2025, we are continuing the momentum we have built over the last several years – expanding our presence in the bank market, enhancing add-on sales, investing in our platform, cultivating a great culture, and expanding our capabilities, most recently through our acquisition of MANTL. All of this combines to support our mission to be the premier digital banking provider in the industry.” CFO Bryan Hill said, “We exited Q1 with annual recurring revenue of $404M, up 33%, and revenue per registered user of $19.74, up 18% compared to the year-ago quarter. In addition, we were pleased to close our acquisition of MANTL on March 17, 2025. We expect MANTL will be accretive to Alkami’s overall revenue growth and gross margin expansion, and we expect the impact of the acquisition to be accretive to Adjusted EBITDA in 2026, allowing Alkami to meet or exceed its long-term financial targets.”