Alkami’s Q4 2024 Financial Results and Acquisition Intent
In a recent press release, Alkami Technology, Inc. shared their financial highlights for the fourth quarter of 2024. The company reported a 25.6% increase in GAAP total revenue, reaching $89.7 million, compared to the same quarter the previous year. This impressive growth was accompanied by a higher gross margin, both according to GAAP (59.3%) and non-GAAP (63.1%) standards.
GAAP and Non-GAAP Revenue and Gross Margin
GAAP: GAAP (Generally Accepted Accounting Principles) total revenue increased by $20.2 million, or 25.6%, from $69.5 million in Q4 2023 to $89.7 million in Q4 2024. The GAAP gross margin also saw a notable improvement, rising from 56.0% in Q4 2023 to 59.3% in Q4 2024.
Non-GAAP: Non-GAAP total revenue grew by $19.8 million, or 25.9%, from $73.5 million in Q4 2023 to $93.3 million in Q4 2024. The non-GAAP gross margin also improved, going from 60.3% in Q4 2023 to 63.1% in Q4 2024.
Financial Improvements and Losses
Alkami reported a GAAP net loss of $(7.6) million for Q4 2024, a decrease from $(12.7) million in Q4 2023. Additionally, the company achieved Adjusted EBITDA of $10.2 million in Q4 2024, a significant improvement from $3.1 million in Q4 2023.
Acquisition Intent
In other exciting news, Alkami announced its intent to acquire MANTL. The details of the acquisition, such as the purchase price and the expected closing date, were not disclosed in the press release. However, Alkami did mention that the acquisition is expected to enhance their digital banking platform and expand their offerings to financial institutions.
Impact on Consumers and the World
Consumers: For consumers, this acquisition could lead to an even more robust digital banking experience. Alkami’s enhanced platform may offer more features and improved functionality, making banking easier and more convenient for individuals.
World: On a larger scale, this acquisition could contribute to the ongoing digital transformation in the financial sector. As more financial institutions adopt cloud-based digital banking solutions, the industry as a whole may see increased efficiency, improved security, and a more seamless user experience.
Conclusion
Alkami’s strong financial performance in Q4 2024, along with their intent to acquire MANTL, signifies a promising future for the company and the digital banking industry. Consumers may benefit from a more advanced digital banking platform, while the world could witness an accelerated digital transformation in the financial sector. Stay tuned for more updates on this developing story.
- Alkami reported a 25.6% increase in GAAP total revenue for Q4 2024 compared to the same quarter the previous year.
- GAAP gross margin improved from 56.0% in Q4 2023 to 59.3% in Q4 2024.
- Non-GAAP total revenue grew by 25.9% from Q4 2023 to Q4 2024.
- Non-GAAP gross margin improved from 60.3% in Q4 2023 to 63.1% in Q4 2024.
- Alkami announced its intent to acquire MANTL, but details of the acquisition were not disclosed.
- The acquisition is expected to enhance Alkami’s digital banking platform and expand their offerings to financial institutions.
- Consumers may benefit from a more advanced digital banking platform, while the world could witness an accelerated digital transformation in the financial sector.
