Alkami reports Q3 EPS (14c), consensus 12c

Reports Q3 revenue $113.0M, consensus $113.48M. CEO Alex Shootman said, “We are very pleased to report strong financial performance for Q3, with solid revenue growth and continued expansion of Adjusted EBITDA. We are particularly excited about the successful launch of 13 new financial institutions – including six banks – in Q3, a record for Alkami (ALKT). Demand among regional and community financial institutions continues to drive favorable pipeline and revenue opportunities. We are also seeing early momentum in demand for holistic solutions such as Alkami’s Digital Sales & Service Platform, which combines our Onboarding & Account Opening Solution, our Digital Banking Solution, and our Data & Marketing Solution.” CFO Bryan Hill said, “We exited Q3 with annual recurring revenue of $449 million, up 31%, and revenue per registered user of $20.83, up 19% compared to the year-ago quarter. We outperformed our Adjusted EBITDA target by 18%, demonstrating the significant progress we have made in scaling the business.”