Alkami Technology (ALKT) Financials

$16.85 -0.32 (-1.86%)

Closing price 04:00 PM Eastern

Extended Trading

$17.01 +0.16 (+0.94%)

As of 07:52 PM Eastern

Annual Income Statements for Alkami Technology

This table shows Alkami Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-43	-57	-47	-59	-63	-41	-48
Consolidated Net Income / (Loss)	-42	-51	-47	-59	-63	-41	-48
Net Income / (Loss) Continuing Operations	-42	-51	-47	-59	-63	-41	-48
Total Pre-Tax Income	-42	-51	-47	-59	-63	-41	-59
Total Operating Income	-43	-35	-43	-58	-64	-45	-54
Total Gross Profit	30	59	84	108	144	197	257
Total Revenue	74	112	152	204	265	334	444
Operating Revenue	74	112	152	204	265	334	444
Total Cost of Revenue	43	53	68	96	121	137	187
Operating Cost of Revenue	43	53	68	96	121	137	187
Total Operating Expenses	73	94	127	166	208	241	310
Selling, General & Admin Expense	25	36	50	71	73	84	101
Marketing Expense	15	17	24	37	49	60	80
Research & Development Expense	33	40	49	69	85	96	118
Amortization Expense	-	-	-	-	-	-	5.69
Impairment Charge	-	-	-	-	0.00	0.00	1.66
Restructuring Charge	-	0.84	2.98	-13	0.26	0.20	3.46
Total Other Income / (Expense), net	0.67	-16	-3.73	-1.37	0.84	4.10	-5.33
Interest Expense	0.11	0.49	1.19	3.87	7.79	0.46	9.49
Interest & Investment Income	0.27	0.06	0.49	2.70	8.10	4.56	4.16
Other Income / (Expense), net	0.51	-16	-3.04	-0.20	0.53	0.00	0.00
Income Tax Expense	0.00	0.00	0.17	-0.46	0.04	0.31	-11
Basic Earnings per Share	($9.91)	($11.78)	($0.73)	($0.64)	($0.67)	($0.41)	($0.46)
Weighted Average Basic Shares Outstanding	4.35M	4.81M	64.51M	90.96M	94.08M	98.89M	103.90M
Diluted Earnings per Share	($9.91)	($11.78)	($0.73)	($0.64)	($0.67)	($0.41)	($0.46)
Weighted Average Diluted Shares Outstanding	4.35M	4.81M	64.51M	90.96M	94.08M	98.89M	103.90M
Weighted Average Basic & Diluted Shares Outstanding	-	-	90.22M	92.30M	96.76M	102.23M	106.15M

This table shows Alkami Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-18	-15	-13	-11	-12	-9.44	-7.64	-7.82	-14	-15	-11
Consolidated Net Income / (Loss)	-18	-15	-13	-11	-12	-9.44	-7.64	-7.82	-14	-15	-11
Net Income / (Loss) Continuing Operations	-18	-15	-13	-11	-12	-9.44	-7.64	-7.82	-14	-15	-11
Total Pre-Tax Income	-18	-15	-13	-11	-12	-9.46	-7.69	-15	-18	-15	-11
Total Operating Income	-18	-16	-13	-12	-13	-10	-8.63	-15	-16	-13	-9.50
Total Gross Profit	35	37	40	44	49	51	53	58	66	64	69
Total Revenue	66	68	71	76	82	86	90	98	112	113	121
Operating Revenue	66	68	71	76	82	86	90	98	112	113	121
Total Cost of Revenue	30	31	31	32	33	35	36	40	46	49	52
Operating Cost of Revenue	30	31	31	32	33	35	36	40	46	49	52
Total Operating Expenses	53	52	53	56	62	61	62	73	81	77	79
Selling, General & Admin Expense	18	18	19	19	21	22	22	24	26	26	25
Marketing Expense	14	12	12	14	17	14	15	18	23	19	20
Research & Development Expense	21	22	21	23	24	24	25	27	30	30	31
Restructuring Charge	0.03	0.00	0.04	0.06	0.14	0.00	-	2.38	0.51	0.25	0.33
Total Other Income / (Expense), net	0.20	0.35	0.11	1.12	1.08	0.97	0.94	0.30	-2.02	-1.95	-1.65
Interest Expense	1.83	1.93	2.28	0.07	0.07	0.18	0.13	0.80	3.19	2.98	2.52
Interest & Investment Income	2.02	2.08	2.27	1.08	1.26	1.15	1.07	1.10	1.16	1.03	0.87
Income Tax Expense	0.09	0.04	-0.28	0.19	0.19	-0.02	-0.05	-7.29	-4.30	-0.03	0.30
Basic Earnings per Share	($0.19)	($0.16)	($0.14)	($0.12)	($0.13)	($0.09)	($0.07)	($0.08)	($0.13)	($0.14)	($0.11)
Weighted Average Basic Shares Outstanding	93.33M	94.68M	94.08M	96.95M	98.10M	99.44M	98.89M	102.43M	103.39M	104.35M	103.90M
Diluted Earnings per Share	($0.19)	($0.16)	($0.14)	($0.12)	($0.13)	($0.09)	($0.07)	($0.08)	($0.13)	($0.14)	($0.11)
Weighted Average Diluted Shares Outstanding	93.33M	94.68M	94.08M	96.95M	98.10M	99.44M	98.89M	102.43M	103.39M	104.35M	103.90M
Weighted Average Basic & Diluted Shares Outstanding	94.23M	95.36M	96.76M	97.52M	98.99M	100.50M	102.23M	103.02M	104.08M	105.00M	106.15M

This table details how cash moves in and out of Alkami Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-13	160	141	-201	-71	53	-31
Net Cash From Operating Activities	-39	-38	-29	-38	-18	19	43
Net Cash From Continuing Operating Activities	-39	-38	-29	-38	-18	19	43
Net Income / (Loss) Continuing Operations	-42	-51	-47	-59	-63	-41	-48
Consolidated Net Income / (Loss)	-42	-51	-47	-59	-63	-41	-48
Depreciation Expense	2.23	2.78	3.44	8.08	11	11	27
Amortization Expense	0.04	0.06	0.05	0.13	0.14	0.21	1.95
Non-Cash Adjustments To Reconcile Net Income	1.25	18	18	44	48	58	77
Changes in Operating Assets and Liabilities, net	-0.74	-7.40	-3.20	-32	-13	-9.65	-15
Net Cash From Investing Activities	-3.69	-27	-22	-224	34	23	-398
Net Cash From Continuing Investing Activities	-3.69	-27	-22	-224	34	23	-398
Purchase of Property, Plant & Equipment	-3.69	-2.15	-3.70	-4.45	-6.29	-7.86	-8.69
Acquisitions	0.00	-25	-18	-132	0.00	0.00	-375
Purchase of Investments	-	0.00	0.00	-187	-141	-40	-45
Sale and/or Maturity of Investments	-	0.00	0.00	100	181	71	32
Net Cash From Financing Activities	30	225	192	61	-88	12	324
Net Cash From Continuing Financing Activities	30	225	192	61	-88	12	324
Repayment of Debt	-0.11	-13	-0.31	-25	-85	-0.36	-47
Issuance of Debt	0.00	38	0.00	85	0.00	0.00	396
Issuance of Common Equity	0.00	0.00	196	2.91	4.12	4.74	5.34
Other Financing Activities, net	0.31	1.99	9.76	-1.27	-6.60	7.42	-30
Cash Interest Paid	0.06	0.35	1.10	3.61	7.06	0.28	5.94
Cash Income Taxes Paid	0.08	0.07	0.03	0.25	0.33	0.38	0.68

This table details how cash moves in and out of Alkami Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-25	-14	-38	3.25	17	20	13	-33	-9.23	4.89	6.14
Net Cash From Operating Activities	-5.71	3.13	-5.31	0.95	0.55	11	6.11	-5.66	1.16	31	17
Net Cash From Continuing Operating Activities	-5.71	3.13	-5.31	0.95	0.55	11	6.11	-5.66	1.16	31	17
Net Income / (Loss) Continuing Operations	-18	-15	-13	-11	-12	-9.44	-7.64	-7.82	-14	-15	-11
Consolidated Net Income / (Loss)	-18	-15	-13	-11	-12	-9.44	-7.64	-7.82	-14	-15	-11
Depreciation Expense	2.56	2.70	2.79	2.56	2.61	2.68	2.65	3.43	7.76	7.87	7.86
Amortization Expense	0.04	0.03	0.03	0.03	0.03	0.10	0.05	0.19	0.59	0.58	0.58
Non-Cash Adjustments To Reconcile Net Income	12	12	12	13	15	15	15	17	19	21	20
Changes in Operating Assets and Liabilities, net	-2.76	3.87	-7.86	-3.36	-4.41	2.54	-4.42	-19	-13	17	-0.06
Net Cash From Investing Activities	-16	-16	50	6.81	15	3.77	-3.01	-389	-2.95	-1.10	-4.13
Net Cash From Continuing Investing Activities	-16	-16	50	6.81	15	3.77	-3.01	-389	-2.95	-1.10	-4.13
Purchase of Property, Plant & Equipment	-1.71	-1.54	-1.68	-1.67	-2.08	-2.30	-1.81	-1.93	-2.16	-2.32	-2.28
Purchase of Investments	-42	-47	-31	-7.15	-8.44	-15	-9.70	-22	-8.09	-5.88	-9.35
Sale and/or Maturity of Investments	28	32	83	16	26	21	8.50	9.90	7.30	7.10	7.50
Net Cash From Financing Activities	-3.45	-0.78	-83	-4.51	1.24	4.77	10	362	-7.44	-25	-6.34
Net Cash From Continuing Financing Activities	-3.45	-0.78	-83	-4.51	1.24	4.77	10	362	-7.44	-25	-6.34
Repayment of Debt	-	-1.06	-83	0.00	-	-0.36	-	-0.78	-11	-25	-10
Issuance of Common Equity	-	-	1.72	-	-	-	2.14	-	-	-	2.40
Other Financing Activities, net	-4.46	0.28	-1.86	-4.51	-1.36	5.13	8.16	-32	0.73	0.19	1.27

This table presents Alkami Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	249	437	489	400	437	847
Total Current Assets	193	345	242	149	181	187
Cash & Equivalents	167	309	109	41	94	63
Short-Term Investments	-	0.00	88	51	21	36
Accounts Receivable	14	21	26	35	39	51
Prepaid Expenses	7.60	9.49	12	11	14	21
Other Current Assets	4.75	6.27	7.86	10	13	16
Plant, Property, & Equipment, net	10	12	14	17	22	27
Total Noncurrent Assets	45	80	233	234	234	633
Goodwill	16	48	148	148	148	403
Intangible Assets	8.27	11	43	36	29	159
Other Noncurrent Operating Assets	21	20	43	50	57	71
Total Liabilities & Shareholders' Equity	249	437	489	400	437	847
Total Liabilities	69	92	155	75	80	485
Total Current Liabilities	20	33	42	39	46	90
Accounts Payable	0.36	3.65	4.29	7.48	6.13	5.84
Accrued Expenses	13	19	22	20	25	47
Current Deferred Revenue	6.71	8.90	8.84	11	14	35
Other Current Liabilities	-	0.00	3.66	1.21	1.34	1.58
Total Noncurrent Liabilities	49	59	113	35	35	396
Long-Term Debt	25	23	81	-	0.00	351
Noncurrent Deferred Revenue	20	19	14	15	16	26
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	0.09	1.71	1.71	1.82	2.63
Other Noncurrent Operating Liabilities	4.09	17	16	18	17	16
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-264	345	334	325	357	362
Total Preferred & Common Equity	-264	345	334	325	357	362
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-264	345	334	325	357	362
Common Stock	0.01	658	706	760	833	886
Retained Earnings	-264	-314	-372	-435	-476	-524

This table presents Alkami Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	485	482	473	482	398	404	422	837	840	835
Total Current Assets	255	237	226	233	146	152	169	174	178	175
Cash & Equivalents	97	114	90	76	44	61	81	62	52	57
Short-Term Investments	112	71	86	102	43	26	20	34	35	34
Accounts Receivable	26	28	28	31	36	39	42	47	48	51
Prepaid Expenses	13	14	13	14	12	14	14	19	28	18
Other Current Assets	7.05	8.44	8.92	9.50	11	11	12	14	15	15
Plant, Property, & Equipment, net	13	14	15	16	18	20	21	23	24	25
Total Noncurrent Assets	217	231	231	233	234	232	232	640	638	635
Goodwill	146	148	148	148	148	148	148	400	404	403
Intangible Assets	44	41	39	38	34	32	31	179	172	166
Other Noncurrent Operating Assets	26	42	44	48	52	52	53	61	62	66
Total Liabilities & Shareholders' Equity	485	482	473	482	398	404	422	837	840	835
Total Liabilities	157	154	150	161	75	77	84	503	496	485
Total Current Liabilities	40	42	42	49	37	41	48	63	66	81
Accounts Payable	3.21	3.16	1.05	5.69	6.53	5.79	5.59	5.18	6.70	7.26
Accrued Expenses	25	22	23	26	17	21	28	27	31	41
Current Deferred Revenue	9.42	9.85	8.81	9.31	12	13	13	29	27	31
Other Current Liabilities	-	3.12	3.17	1.49	1.24	1.28	1.31	1.56	1.58	1.58
Total Noncurrent Liabilities	117	112	109	111	38	36	36	440	430	404
Long-Term Debt	82	80	78	76	-	-	-	395	385	361
Capital Lease Obligations	-	16	-	18	18	-	17	17	-	16
Noncurrent Deferred Revenue	18	14	14	15	18	16	16	26	26	25
Noncurrent Deferred & Payable Income Tax Liabilities	0.34	1.79	1.83	1.86	1.74	1.76	1.77	2.35	2.41	2.45
Other Noncurrent Operating Liabilities	16	0.35	15	0.38	0.23	18	0.22	0.22	17	0.23
Total Equity & Noncontrolling Interests	328	328	323	322	323	327	339	334	344	350
Total Preferred & Common Equity	328	328	323	322	323	327	339	334	344	350
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	328	328	323	322	323	327	339	334	344	350
Common Stock	695	718	730	744	770	786	807	818	842	863
Retained Earnings	-368	-389	-407	-423	-447	-459	-469	-484	-498	-512

This table displays calculated financial ratios and metrics derived from Alkami Technology's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	52.49%	35.68%	34.25%	29.65%	26.06%	32.89%
EBITDA Growth	0.00%	-20.95%	11.70%	-17.01%	-5.48%	35.29%	26.94%
EBIT Growth	0.00%	-21.17%	9.76%	-25.98%	-9.12%	29.36%	-20.19%
NOPAT Growth	0.00%	17.47%	-22.26%	-34.42%	-10.43%	29.95%	-20.19%
Net Income Growth	0.00%	-22.66%	8.83%	-25.15%	-7.36%	35.09%	-16.69%
EPS Growth	0.00%	-18.87%	93.80%	12.33%	-4.69%	38.81%	-12.20%
Operating Cash Flow Growth	0.00%	2.41%	24.08%	-31.38%	54.00%	206.26%	130.71%
Free Cash Flow Firm Growth	0.00%	0.00%	15.29%	-282.17%	72.70%	27.97%	-933.42%
Invested Capital Growth	0.00%	0.00%	60.32%	266.51%	4.75%	3.64%	154.54%
Revenue Q/Q Growth	0.00%	0.00%	6.37%	6.85%	6.36%	5.80%	7.55%
EBITDA Q/Q Growth	0.00%	0.00%	-1.31%	15.77%	-16.75%	11.13%	16.42%
EBIT Q/Q Growth	0.00%	0.00%	-1.75%	11.86%	-13.99%	8.90%	-1.65%
NOPAT Q/Q Growth	0.00%	0.00%	-4.37%	11.56%	-13.58%	9.11%	-1.65%
Net Income Q/Q Growth	0.00%	0.00%	-1.88%	12.59%	-14.15%	11.04%	-8.66%
EPS Q/Q Growth	0.00%	0.00%	84.73%	-166.67%	-15.52%	14.58%	-9.52%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	9.01%	-4.59%	32.74%	158.98%	32.38%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-4.56%	31.00%	11.88%	1.83%
Invested Capital Q/Q Growth	0.00%	0.00%	8.23%	9.19%	-4.67%	-5.34%	-3.44%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	41.39%	52.75%	55.08%	53.03%	54.42%	58.90%	57.84%
EBITDA Margin	-54.06%	-42.88%	-27.90%	-24.32%	-19.79%	-10.16%	-5.58%
Operating Margin	-57.84%	-31.30%	-28.20%	-28.24%	-24.06%	-13.37%	-12.09%
EBIT Margin	-57.15%	-45.41%	-30.20%	-28.34%	-23.85%	-13.37%	-12.09%
Profit (Net Income) Margin	-56.93%	-45.79%	-30.77%	-28.69%	-23.76%	-12.23%	-10.74%
Tax Burden Percent	100.00%	100.00%	100.37%	99.22%	100.07%	100.76%	80.82%
Interest Burden Percent	99.63%	100.85%	101.52%	102.02%	99.52%	90.81%	109.93%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-129.91%	-61.01%	-28.55%	-19.60%	-13.18%	-8.78%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-92.17%	-53.13%	-19.34%	-1.63%	-3.94%	-23.60%
Return on Net Nonoperating Assets (RNNOA)	0.00%	72.77%	43.15%	11.28%	0.50%	1.20%	-4.48%
Return on Equity (ROE)	0.00%	-57.14%	-17.86%	-17.27%	-19.09%	-11.98%	-13.25%
Cash Return on Invested Capital (CROIC)	0.00%	-329.91%	-107.35%	-142.80%	-24.23%	-16.75%	-95.95%
Operating Return on Assets (OROA)	0.00%	-20.44%	-13.40%	-12.51%	-14.22%	-10.66%	-8.35%
Return on Assets (ROA)	0.00%	-20.61%	-13.66%	-12.66%	-14.16%	-9.76%	-7.42%
Return on Common Equity (ROCE)	0.00%	83.78%	-2.76%	-17.27%	-19.09%	-11.98%	-13.25%
Return on Equity Simple (ROE_SIMPLE)	0.00%	19.49%	-13.59%	-17.54%	-19.36%	-11.44%	0.00%
Net Operating Profit after Tax (NOPAT)	-30	-25	-30	-40	-45	-31	-38
NOPAT Margin	-40.49%	-21.91%	-19.74%	-19.77%	-16.84%	-9.36%	-8.46%
Net Nonoperating Expense Percent (NNEP)	0.00%	-37.75%	-7.88%	-9.21%	-17.97%	-9.23%	14.82%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-9.65%	-13.72%	-8.75%	-5.26%
Cost of Revenue to Revenue	58.61%	47.25%	44.92%	46.97%	45.58%	41.10%	42.16%
SG&A Expenses to Revenue	33.89%	32.49%	33.12%	34.88%	27.53%	25.06%	22.74%
R&D to Revenue	44.49%	35.86%	32.07%	33.94%	31.97%	28.82%	26.69%
Operating Expenses to Revenue	99.22%	84.05%	83.28%	81.27%	78.47%	72.27%	69.93%
Earnings before Interest and Taxes (EBIT)	-42	-51	-46	-58	-63	-45	-54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-40	-48	-42	-50	-52	-34	-25
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.13	4.00	7.12	10.32	6.69
Price to Tangible Book Value (P/TBV)	0.00	0.00	6.20	9.30	16.39	20.48	0.00
Price to Revenue (P/Rev)	2.45	1.61	11.62	6.53	8.73	11.04	5.46
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	12.72	24.47	5.50	9.54	14.80	4.35
Enterprise Value to Revenue (EV/Rev)	0.00	4.29	9.75	5.99	8.38	10.69	6.03
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	191.99	62.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.14	0.07	0.25	0.00	0.00	0.97
Long-Term Debt to Equity	0.00	0.14	0.07	0.24	0.00	0.00	0.97
Financial Leverage	0.00	-0.79	-0.81	-0.58	-0.31	-0.30	0.19
Leverage Ratio	0.00	1.39	1.31	1.36	1.35	1.23	1.79
Compound Leverage Factor	0.00	1.40	1.33	1.39	1.34	1.11	1.96
Debt to Total Capital	0.00%	12.16%	6.67%	20.20%	0.00%	0.00%	49.24%
Short-Term Debt to Total Capital	0.00%	0.15%	0.42%	0.76%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	12.01%	6.24%	19.44%	0.00%	0.00%	49.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	216.63%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-128.79%	93.33%	79.80%	100.00%	100.00%	50.76%
Debt to EBITDA	0.00	-0.52	-0.58	-1.70	0.00	0.00	-14.18
Net Debt to EBITDA	0.00	2.95	6.69	2.25	0.00	0.00	-10.18
Long-Term Debt to EBITDA	0.00	-0.51	-0.54	-1.64	0.00	0.00	-14.18
Debt to NOPAT	0.00	-1.01	-0.82	-2.09	0.00	0.00	-9.35
Net Debt to NOPAT	0.00	5.78	9.45	2.77	0.00	0.00	-6.72
Long-Term Debt to NOPAT	0.00	-1.00	-0.77	-2.02	0.00	0.00	-9.35
Altman Z-Score	0.00	0.68	11.40	4.62	17.47	26.84	2.58
Noncontrolling Interest Sharing Ratio	0.00%	246.61%	84.54%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	9.43	10.40	5.82	3.77	3.98	2.09
Quick Ratio	0.00	8.83	9.92	5.35	3.24	3.39	1.68
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-62	-53	-202	-55	-40	-410
Operating Cash Flow to CapEx	-1,059.50%	-1,776.67%	-783.31%	-855.91%	-278.16%	236.75%	493.80%
Free Cash Flow to Firm to Interest Expense	0.00	-127.61	-44.57	-52.23	-7.08	-86.15	-43.27
Operating Cash Flow to Interest Expense	-355.32	-78.01	-24.42	-9.84	-2.25	40.34	4.52
Operating Cash Flow Less CapEx to Interest Expense	-388.85	-82.40	-27.53	-10.99	-3.05	23.30	3.61
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.45	0.44	0.44	0.60	0.80	0.69
Accounts Receivable Turnover	0.00	7.95	8.71	8.68	8.58	8.99	9.83
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	10.72	13.65	16.09	17.36	17.11	18.21
Accounts Payable Turnover	0.00	147.18	34.10	24.17	20.51	20.17	31.25
Days Sales Outstanding (DSO)	0.00	45.90	41.89	42.05	42.55	40.58	37.12
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	2.48	10.70	15.10	17.79	18.10	11.68
Cash Conversion Cycle (CCC)	0.00	43.42	31.18	26.95	24.76	22.49	25.44
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	38	61	222	233	241	614
Invested Capital Turnover	0.00	5.93	3.09	1.44	1.16	1.41	1.04
Increase / (Decrease) in Invested Capital	0.00	38	23	162	11	8.48	373
Enterprise Value (EV)	0.00	481	1,484	1,223	2,220	3,570	2,675
Market Capitalization	180	180	1,768	1,335	2,313	3,686	2,422
Book Value per Share	$0.00	($54.79)	$3.91	$3.65	$3.41	$3.55	$3.45
Tangible Book Value per Share	$0.00	($59.88)	$3.24	$1.57	$1.48	$1.79	($1.91)
Total Capital	0.00	205	369	419	325	357	713
Total Debt	0.00	25	25	85	0.00	0.00	351
Total Long-Term Debt	0.00	25	23	81	0.00	0.00	351
Net Debt	0.00	-142	-284	-112	-92	-116	252
Capital Expenditures (CapEx)	3.69	2.15	3.70	4.45	6.29	7.86	8.69
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	6.28	4.95	7.38	17	20	-1.42
Debt-free Net Working Capital (DFNWC)	0.00	173	314	204	109	136	98
Net Working Capital (NWC)	0.00	173	312	201	109	136	98
Net Nonoperating Expense (NNE)	12	27	17	18	18	9.60	10
Net Nonoperating Obligations (NNO)	0.00	-142	-284	-112	-92	-116	252
Total Depreciation and Amortization (D&A)	2.27	2.84	3.49	8.21	11	11	29
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	5.60%	3.25%	3.61%	6.43%	6.01%	-0.32%
Debt-free Net Working Capital to Revenue	0.00%	154.33%	206.05%	99.74%	41.22%	40.68%	22.02%
Net Working Capital to Revenue	0.00%	154.05%	205.02%	98.18%	41.22%	40.68%	22.02%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.73)	($0.64)	($0.67)	($0.41)	($0.46)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	64.51M	90.96M	94.08M	98.89M	103.90M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.73)	($0.64)	($0.67)	($0.41)	($0.46)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	64.51M	90.96M	94.08M	98.89M	103.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	90.22M	92.30M	96.76M	102.23M	106.15M
Normalized Net Operating Profit after Tax (NOPAT)	-30	-24	-28	-49	-44	-31	-34
Normalized NOPAT Margin	-40.49%	-21.39%	-18.37%	-24.06%	-16.77%	-9.32%	-7.66%
Pre Tax Income Margin	-56.93%	-45.79%	-30.66%	-28.91%	-23.74%	-12.14%	-13.29%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-382.05	-104.13	-38.74	-14.97	-8.11	-96.80	-5.65
NOPAT to Interest Expense	-270.68	-50.25	-25.33	-10.44	-5.72	-67.76	-3.96
EBIT Less CapEx to Interest Expense	-415.59	-108.52	-41.86	-16.12	-8.91	-113.84	-6.57
NOPAT Less CapEx to Interest Expense	-304.21	-54.64	-28.45	-11.59	-6.53	-84.80	-4.87
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-10.61%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-30.55%	-27.73%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Alkami Technology's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.15%	26.76%	28.50%	26.89%	24.93%	26.89%	25.62%	28.52%	36.39%	31.49%	34.73%
EBITDA Growth	13.25%	25.75%	-283.84%	31.52%	30.10%	40.49%	41.75%	-21.90%	29.60%	42.11%	82.19%
EBIT Growth	9.04%	21.59%	-148.11%	26.79%	25.44%	33.09%	33.57%	-25.65%	-19.10%	-23.52%	-10.09%
NOPAT Growth	7.80%	20.34%	-139.03%	27.03%	26.11%	33.95%	34.15%	-24.51%	-20.11%	-23.52%	-10.09%
Net Income Growth	12.22%	22.81%	-158.82%	32.60%	30.65%	38.99%	39.88%	31.64%	-10.34%	-56.79%	-49.69%
EPS Growth	13.64%	27.27%	-180.00%	33.33%	31.58%	43.75%	50.00%	33.33%	0.00%	-55.56%	-57.14%
Operating Cash Flow Growth	48.69%	165.91%	61.63%	109.89%	109.60%	251.25%	215.19%	-695.58%	111.13%	180.40%	171.74%
Free Cash Flow Firm Growth	80.52%	67.97%	88.08%	89.69%	45.58%	65.19%	26.37%	-2,004.95%	-2,036.91%	-2,067.81%	-2,514.58%
Invested Capital Growth	11.15%	19.97%	4.75%	4.41%	4.40%	4.38%	3.64%	156.39%	167.78%	149.53%	154.54%
Revenue Q/Q Growth	9.61%	2.95%	5.41%	6.67%	7.92%	4.56%	4.37%	9.12%	14.54%	0.80%	6.94%
EBITDA Q/Q Growth	-8.25%	15.77%	20.94%	5.01%	-10.50%	28.30%	22.61%	-98.78%	36.18%	41.04%	76.19%
EBIT Q/Q Growth	-6.73%	12.75%	16.68%	5.64%	-8.70%	21.71%	17.28%	-78.48%	-3.03%	18.80%	26.28%
NOPAT Q/Q Growth	-5.47%	11.67%	17.03%	5.60%	-6.81%	21.04%	17.28%	-78.48%	-3.03%	18.80%	26.28%
Net Income Q/Q Growth	-4.70%	12.87%	17.85%	10.07%	-7.73%	23.34%	19.05%	-2.26%	-73.89%	-8.93%	22.72%
EPS Q/Q Growth	-5.56%	15.79%	12.50%	14.29%	-8.33%	30.77%	22.22%	-14.29%	-62.50%	-7.69%	21.43%
Operating Cash Flow Q/Q Growth	40.61%	154.78%	-269.60%	117.93%	-42.38%	1,904.93%	-44.38%	-192.69%	120.43%	2,562.66%	-46.10%
Free Cash Flow Firm Q/Q Growth	81.06%	-45.41%	61.86%	1.81%	0.06%	6.97%	19.35%	-2,707.11%	-1.46%	5.62%	2.73%
Invested Capital Q/Q Growth	-5.46%	6.32%	-4.67%	8.96%	-5.47%	6.31%	-5.34%	169.53%	-1.27%	-0.94%	-3.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.94%	53.99%	55.98%	57.84%	59.36%	58.92%	59.35%	59.04%	58.56%	56.79%	57.19%
EBITDA Margin	-23.22%	-19.00%	-14.25%	-12.69%	-12.99%	-8.91%	-6.61%	-12.03%	-6.71%	-3.92%	-0.87%
Operating Margin	-27.18%	-23.32%	-18.35%	-16.24%	-16.07%	-12.14%	-9.62%	-15.74%	-14.16%	-11.40%	-7.86%
EBIT Margin	-27.16%	-23.02%	-18.20%	-16.10%	-16.21%	-12.14%	-9.62%	-15.74%	-14.16%	-11.40%	-7.86%
Profit (Net Income) Margin	-27.01%	-22.86%	-17.81%	-15.02%	-14.99%	-10.99%	-8.52%	-7.99%	-12.13%	-13.11%	-9.47%
Tax Burden Percent	100.50%	100.25%	97.85%	101.68%	101.52%	99.80%	99.39%	51.76%	75.98%	99.80%	102.69%
Interest Burden Percent	98.94%	99.04%	100.05%	91.77%	91.09%	90.73%	89.15%	98.08%	112.76%	115.15%	117.32%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-20.47%	-18.15%	-14.95%	-12.86%	-14.25%	-10.74%	-9.48%	-8.66%	-8.66%	-7.39%	-5.71%
ROIC Less NNEP Spread (ROIC-NNEP)	-15.73%	-13.77%	-11.48%	-9.27%	-10.84%	-8.08%	-7.94%	-6.27%	-11.02%	-13.11%	-12.74%
Return on Net Nonoperating Assets (RNNOA)	5.30%	4.28%	3.55%	2.20%	3.01%	1.97%	2.42%	-2.36%	-3.46%	-3.85%	-2.42%
Return on Equity (ROE)	-15.17%	-13.88%	-11.40%	-10.67%	-11.25%	-8.77%	-7.06%	-11.02%	-12.12%	-11.24%	-8.12%
Cash Return on Invested Capital (CROIC)	-29.85%	-35.69%	-24.23%	-20.98%	-20.54%	-18.06%	-16.75%	-95.14%	-99.23%	-93.85%	-95.95%
Operating Return on Assets (OROA)	-13.23%	-11.85%	-10.84%	-10.28%	-11.00%	-8.47%	-7.67%	-9.06%	-8.77%	-7.48%	-5.43%
Return on Assets (ROA)	-13.15%	-11.77%	-10.62%	-9.59%	-10.17%	-7.67%	-6.80%	-4.60%	-7.51%	-8.60%	-6.54%
Return on Common Equity (ROCE)	-15.17%	-13.88%	-11.40%	-10.67%	-11.25%	-8.77%	-7.06%	-11.02%	-12.12%	-11.24%	-8.12%
Return on Equity Simple (ROE_SIMPLE)	-18.51%	-17.13%	0.00%	-17.77%	-15.87%	-13.56%	0.00%	-11.14%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-13	-11	-9.17	-8.66	-9.24	-7.30	-6.04	-11	-11	-9.02	-6.65
NOPAT Margin	-19.02%	-16.32%	-12.85%	-11.37%	-11.25%	-8.50%	-6.73%	-11.02%	-9.91%	-7.98%	-5.50%
Net Nonoperating Expense Percent (NNEP)	-4.74%	-4.39%	-3.48%	-3.60%	-3.41%	-2.66%	-1.54%	-2.40%	2.36%	5.72%	7.03%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-2.82%	-	-	-	-1.69%	-1.45%	-1.52%	-1.24%	-0.93%
Cost of Revenue to Revenue	46.06%	46.01%	44.02%	42.16%	40.64%	41.08%	40.65%	40.96%	41.44%	43.21%	42.81%
SG&A Expenses to Revenue	27.69%	27.02%	27.03%	25.37%	25.09%	25.78%	24.07%	24.30%	23.24%	22.70%	21.06%
R&D to Revenue	31.73%	32.13%	30.11%	29.98%	29.10%	28.09%	28.27%	27.48%	26.98%	26.64%	25.82%
Operating Expenses to Revenue	81.12%	77.30%	74.33%	74.08%	75.44%	71.06%	68.97%	74.77%	72.71%	68.19%	65.05%
Earnings before Interest and Taxes (EBIT)	-18	-16	-13	-12	-13	-10	-8.63	-15	-16	-13	-9.50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-15	-13	-10	-9.66	-11	-7.65	-5.92	-12	-7.51	-4.43	-1.06
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.72	5.34	7.12	7.36	8.49	9.22	10.32	8.03	9.03	7.38	6.69
Price to Tangible Book Value (P/TBV)	11.25	12.61	16.39	16.89	18.93	19.54	20.48	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	6.48	6.90	8.73	8.46	9.34	9.89	11.04	7.55	8.06	6.27	5.46
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	6.22	6.71	9.54	9.10	11.22	11.92	14.80	4.61	5.30	4.51	4.35
Enterprise Value to Revenue (EV/Rev)	6.09	6.58	8.38	8.22	9.05	9.63	10.69	8.44	8.83	6.96	6.03
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	423.12	191.99	250.37	270.28	88.59	62.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.26	0.31	0.00	0.06	0.00	0.05	0.00	1.23	1.12	1.08	0.97
Long-Term Debt to Equity	0.24	0.29	0.00	0.06	0.00	0.05	0.00	1.23	1.12	1.08	0.97
Financial Leverage	-0.34	-0.31	-0.31	-0.24	-0.28	-0.24	-0.30	0.38	0.31	0.29	0.19
Leverage Ratio	1.46	1.49	1.35	1.35	1.35	1.37	1.23	1.88	1.85	1.83	1.79
Compound Leverage Factor	1.45	1.48	1.35	1.24	1.23	1.24	1.09	1.84	2.09	2.10	2.10
Debt to Total Capital	20.56%	23.86%	0.00%	5.30%	0.00%	4.89%	0.00%	55.20%	52.82%	51.84%	49.24%
Short-Term Debt to Total Capital	1.31%	1.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	19.25%	22.35%	0.00%	5.30%	0.00%	4.89%	0.00%	55.20%	52.82%	51.84%	49.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	79.44%	76.14%	100.00%	94.70%	100.00%	95.11%	100.00%	44.80%	47.18%	48.16%	50.76%
Debt to EBITDA	-1.69	-2.25	0.00	-0.38	0.00	-0.46	0.00	-11.43	-11.72	-12.71	-14.18
Net Debt to EBITDA	1.88	1.73	0.00	1.44	0.00	2.19	0.00	-8.78	-9.07	-9.65	-10.18
Long-Term Debt to EBITDA	-1.58	-2.10	0.00	-0.38	0.00	-0.46	0.00	-11.43	-11.72	-12.71	-14.18
Debt to NOPAT	-1.98	-2.57	0.00	-0.44	0.00	-0.51	0.00	-12.34	-10.94	-10.20	-9.35
Net Debt to NOPAT	2.21	1.97	0.00	1.67	0.00	2.43	0.00	-9.48	-8.46	-7.74	-6.72
Long-Term Debt to NOPAT	-1.86	-2.41	0.00	-0.44	0.00	-0.51	0.00	-12.34	-10.94	-10.20	-9.35
Altman Z-Score	5.71	6.06	17.89	18.45	21.10	21.84	27.11	2.91	3.48	2.92	2.76
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.44	4.73	3.77	3.92	3.75	3.52	3.98	2.75	2.68	2.17	2.09
Quick Ratio	4.91	4.26	3.24	3.31	3.12	2.99	3.39	2.25	2.03	1.76	1.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-36	-52	-20	-19	-19	-18	-15	-407	-413	-390	-380
Operating Cash Flow to CapEx	-334.31%	203.25%	-316.72%	56.98%	26.38%	477.90%	337.62%	-293.32%	53.59%	1,327.32%	728.97%
Free Cash Flow to Firm to Interest Expense	-19.47	-26.77	-8.65	-265.18	-261.44	-99.99	-108.33	-508.72	-129.68	-131.02	-150.67
Operating Cash Flow to Interest Expense	-3.13	1.62	-2.33	13.03	7.41	61.04	45.60	-7.07	0.36	10.34	6.59
Operating Cash Flow Less CapEx to Interest Expense	-4.06	0.82	-3.06	-9.84	-20.66	48.27	32.10	-9.48	-0.31	9.57	5.69
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.51	0.60	0.64	0.68	0.70	0.80	0.58	0.62	0.66	0.69
Accounts Receivable Turnover	8.46	8.65	8.58	8.76	8.86	8.57	8.99	8.62	8.90	8.86	9.83
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	16.29	16.76	17.36	17.33	17.07	16.93	17.11	17.26	17.63	17.75	18.21
Accounts Payable Turnover	45.87	26.08	20.51	25.78	37.44	23.43	20.17	24.79	25.32	26.73	31.25
Days Sales Outstanding (DSO)	43.17	42.19	42.55	41.67	41.18	42.61	40.58	42.35	41.02	41.18	37.12
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	7.96	13.99	17.79	14.16	9.75	15.58	18.10	14.72	14.41	13.65	11.68
Cash Conversion Cycle (CCC)	35.21	28.20	24.76	27.51	31.44	27.03	22.49	27.63	26.60	27.53	25.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	230	244	233	254	240	255	241	650	642	636	614
Invested Capital Turnover	1.08	1.11	1.16	1.13	1.27	1.26	1.41	0.79	0.87	0.93	1.04
Increase / (Decrease) in Invested Capital	23	41	11	11	10	11	8.48	397	402	381	373
Enterprise Value (EV)	1,429	1,639	2,220	2,308	2,690	3,038	3,570	3,000	3,403	2,871	2,675
Market Capitalization	1,522	1,717	2,313	2,377	2,777	3,122	3,686	2,684	3,105	2,585	2,422
Book Value per Share	$3.47	$3.41	$3.41	$3.34	$3.36	$3.42	$3.55	$3.27	$3.34	$3.36	$3.45
Tangible Book Value per Share	$1.46	$1.44	$1.48	$1.45	$1.50	$1.61	$1.79	($2.40)	($2.25)	($2.10)	($1.91)
Total Capital	406	422	325	341	327	356	357	746	729	727	713
Total Debt	83	101	0.00	18	0.00	17	0.00	412	385	377	351
Total Long-Term Debt	78	94	0.00	18	0.00	17	0.00	412	385	377	351
Net Debt	-93	-77	-92	-69	-87	-84	-116	316	298	286	252
Capital Expenditures (CapEx)	1.71	1.54	1.68	1.67	2.08	2.30	1.81	1.93	2.16	2.32	2.28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	14	12	17	21	24	20	20	16	24	3.33	-1.42
Debt-free Net Working Capital (DFNWC)	190	190	109	108	111	121	136	111	111	94	98
Net Working Capital (NWC)	185	183	109	108	111	121	136	111	111	94	98
Net Nonoperating Expense (NNE)	5.25	4.43	3.54	2.78	3.07	2.14	1.60	-2.96	2.49	5.79	4.79
Net Nonoperating Obligations (NNO)	-93	-77	-92	-69	-87	-84	-116	316	298	286	252
Total Depreciation and Amortization (D&A)	2.60	2.73	2.82	2.59	2.65	2.78	2.70	3.62	8.35	8.45	8.44
Debt-free, Cash-free Net Working Capital to Revenue	5.84%	4.66%	6.43%	7.53%	8.09%	6.33%	6.01%	4.40%	6.31%	0.81%	-0.32%
Debt-free Net Working Capital to Revenue	80.96%	76.25%	41.22%	38.60%	37.48%	38.33%	40.68%	31.21%	28.91%	22.85%	22.02%
Net Working Capital to Revenue	78.69%	73.69%	41.22%	38.60%	37.48%	38.33%	40.68%	31.21%	28.91%	22.85%	22.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.19)	($0.16)	($0.14)	($0.12)	($0.13)	($0.09)	($0.07)	($0.08)	($0.13)	($0.14)	($0.11)
Adjusted Weighted Average Basic Shares Outstanding	93.33M	94.68M	94.08M	96.95M	98.10M	99.44M	98.89M	102.43M	103.39M	104.35M	103.90M
Adjusted Diluted Earnings per Share	($0.19)	($0.16)	($0.14)	($0.12)	($0.13)	($0.09)	($0.07)	($0.08)	($0.13)	($0.14)	($0.11)
Adjusted Weighted Average Diluted Shares Outstanding	93.33M	94.68M	94.08M	96.95M	98.10M	99.44M	98.89M	102.43M	103.39M	104.35M	103.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	94.23M	95.36M	96.76M	97.52M	98.99M	100.50M	102.23M	103.02M	104.08M	105.00M	106.15M
Normalized Net Operating Profit after Tax (NOPAT)	-12	-11	-9.14	-8.61	-9.15	-7.30	-6.04	-7.95	-11	-8.84	-6.42
Normalized NOPAT Margin	-18.99%	-16.32%	-12.81%	-11.31%	-11.14%	-8.50%	-6.73%	-8.13%	-9.59%	-7.83%	-5.31%
Pre Tax Income Margin	-26.87%	-22.80%	-18.20%	-14.77%	-14.77%	-11.01%	-8.58%	-15.44%	-15.96%	-13.13%	-9.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.78	-8.07	-5.70	-167.85	-179.99	-57.93	-64.37	-19.22	-4.98	-4.33	-3.77
NOPAT to Interest Expense	-6.85	-5.72	-4.02	-118.57	-124.93	-40.55	-45.06	-13.45	-3.48	-3.03	-2.64
EBIT Less CapEx to Interest Expense	-10.72	-8.87	-6.43	-190.71	-208.05	-70.71	-77.88	-21.63	-5.65	-5.10	-4.67
NOPAT Less CapEx to Interest Expense	-7.79	-6.52	-4.76	-141.43	-153.00	-53.33	-58.57	-15.87	-4.16	-3.81	-3.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here is MarketBeat's concise trend analysis of Alkami Technology (ALKT) using the last four years of quarterly statements. Focus is on revenue, cash flow, profitability, and balance-sheet signals for retail investors.

Revenue growth: ALKT’s quarterly operating revenue has expanded from about $55.5 million in Q4 2022 to $120.8 million in Q4 2025, roughly a 117% increase over the period.
Operating cash flow turned positive in the latest quarter: Net cash from continuing operating activities was $16,606,000 in Q4 2025. This marks a shift to cash-generating operations despite ongoing losses on the income statement.
Free cash flow potential: Using operating cash flow minus capex, FCF for Q4 2025 is approximately $14.3 million, indicating cash generation after essential investments.
Maintained gross profitability: Total gross profit in Q4 2025 was $69,079,000 on $120,791,000 in revenue, implying a gross margin around 57%—a solid level given growth.
R&D investment rising: R&D expense was $31.189 million in Q4 2025, up from about $25.3 million in Q3 2025 and higher than prior years, signaling ongoing product development focus.
Leverage remains sizable: Long-term debt and total liabilities have stayed substantial across 2022–2025, illustrating continued leverage rather than rapid deleveraging.
Profitability still under pressure: Net income in Q4 2025 remained negative at -$11.441 million, underscoring ongoing profitability challenges despite revenue growth.
Operating income negative: In Q4 2025, total operating income was -$9.496 million, showing the core business remains unprofitable at the operating level.
Earnings per share negative: Basic and diluted earnings per share were -$0.11 in Q4 2025, with about 103.9 million weighted average shares outstanding, highlighting ongoing losses per share.
Financing activities outflow: Net cash from financing activities in Q4 2025 was -$6,335,000, reflecting financing outflows and debt-related cash needs.

05/06/26 12:10 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Alkami Technology's Financials

When does Alkami Technology's financial year end?

According to the most recent income statement we have on file, Alkami Technology's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Alkami Technology's net income changed over the last 6 years?

Alkami Technology's net income were at -$47.65 million at the end of 2025, a 16.7% increase from 2024, and a 13.8% increase since 2019. Check out Alkami Technology's forecast to explore projected trends and price targets.

What is Alkami Technology's operating income?

Alkami Technology's total operating income in 2025 was -$53.64 million, based on the following breakdown:

Total Gross Profit: $256.60 million
Total Operating Expenses: $310.24 million

How has Alkami Technology's revenue changed over the last 6 years?

Over the last 6 years, Alkami Technology's total revenue changed from $73.54 million in 2019 to $443.64 million in 2025, a change of 503.3%.

How much debt does Alkami Technology have?

Alkami Technology's total liabilities were at $485.18 million at the end of 2025, a 504.6% increase from 2024, and a 598.8% increase since 2020.

How much cash does Alkami Technology have?

In the past 5 years, Alkami Technology's cash and equivalents has ranged from $40.93 million in 2023 to $308.58 million in 2021, and is currently $63.46 million as of their latest financial filing in 2025.

How has Alkami Technology's book value per share changed over the last 6 years?

Over the last 6 years, Alkami Technology's book value per share changed from 0.00 in 2019 to 3.45 in 2025, a change of 344.8%.

Related Companies

Financial statements for NASDAQ:ALKT last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Alkami Technology (ALKT) Financials

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Alkami Technology (ALKT) Financials

Annual Income Statements for Alkami Technology

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Quarterly Cash Flow Statements for Alkami Technology

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