Fri, Feb 28, 12:52 PM (57 days ago)
**Alkami Technology, Inc. (ALKT) 10-K Summary for Fiscal Year Ended December 31, 2024** Alkami Technology, Inc. reported total revenues of $333.8 million for FY 2024, a 26.1% increase from $264.8 million in FY 2023, driven by a rise in registered users to 20 million, reflecting a 14.2% growth. The SaaS subscription services accounted for 95.6% of revenues. Despite revenue growth, the company incurred a net loss of $40.8 million, an improvement from $62.9 million in the previous year, primarily due to increased operating expenses in R&D and sales/marketing. Strategically, Alkami focuses on enhancing its digital banking platform and expanding its client base, now totaling 272 financial institutions. The company has made significant investments in product development and acquired several firms to broaden its offerings. Key risk factors include competition from larger banks and fintechs, reliance on third-party software, and the potential for cybersecurity threats. Alkami's financial condition remains robust with $115.7 million in cash and marketable securities, supported by an amended credit agreement extending its revolving loan commitment to $125 million. Looking ahead, Alkami aims to deepen client relationships and expand its product suite while managing operating costs effectively.