Alkami Technology, Inc. reported first‑quarter 2026 results on April 29, 2026, with revenue of $126.1 million, up 29% from $97.8 million in Q1 2025. The company posted a GAAP net loss of $10.0 million, or –$0.09 per share, and an adjusted earnings per share of $0.04. The adjusted figure fell short of consensus estimates that ranged from $0.14 to $0.21, while the GAAP loss represented a larger miss than the adjusted performance.
Revenue growth was driven by the continued integration of the MANTL acquisition, which added 14 new MANTL logos, and by six new digital‑banking clients. The mix shift toward higher‑margin digital‑sales and service platform contracts helped offset a decline in legacy termination‑fee revenue, but temporary database‑technology costs and shareholder‑matters defense expenses increased operating expenses.
The earnings miss was largely attributable to higher‑than‑expected integration costs and one‑time charges related to the MANTL acquisition, as well as temporary database‑technology expenses that are expected to decline by the end of 2026. These costs compressed margins, pushing GAAP EPS into a loss while adjusted EPS remained positive but below analyst expectations.
Alkami reiterated its full‑year 2026 guidance, projecting revenue of $527.1 million to $530.9 million and adjusted EBITDA of $94.9 million to $97.9 million. For Q2 2026, the company guided revenue of $128.0 million to $129.0 million, slightly below the consensus estimate of $130.3 million. The board also authorized a $100 million share‑repurchase program, underscoring management’s confidence in the company’s long‑term value.
Investors reacted to the earnings miss, focusing on the significant GAAP loss and the shortfall in EPS relative to consensus estimates. Despite the miss, the company’s strong revenue growth, expanding client base, and reiterated guidance suggest that the MANTL integration is accelerating and that profitability is expected to improve as temporary cost pressures ease.
Management highlighted the results in the earnings call. CEO Alex Shootman said, “In the first quarter, we delivered strong financial and operating performance, with revenue growth of 29% and Adjusted EBITDA of over $22 million.” CFO Cassandra Hudson added, “We exited the first quarter with annual recurring revenue of $493.6 million, up 22% compared to the year‑ago quarter and revenue per registered user of $21.46, up 9% compared to the year‑ago quarter.”
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.