Alkami Q1 Revenue Reaches $126.1M, Beating Expectations
Reports Q1 revenue $126.1M, consensus $125.23M. CEO Alex Shootman said, "In Q1, we delivered strong financial and operating performance, with revenue growth of 29% and Adjusted EBITDA of over $22M. We also continued to expand our client portfolio, signing 6 new digital banking logos and 14 new MANTL logos. We continued our momentum with our Digital Sales & Service Platform offering as financial institutions continue to seek modern solutions that integrate onboarding, digital banking and high-ROI marketing and analytics solutions. Half of our new logos in the first quarter are DSSP clients. We believe Alkami provides the most effective digital sales and service experience in the industry, and we are continuing to deliver innovation that will drive digital transformation for years to come." CFO Cassandra Hudson said, "In the last 12 months, we added 2.5 million registered users to our digital banking platform, ending the quarter with 23.0 million digital banking users. We exited the first quarter with annual recurring revenue of $493.6M, up 22% compared to the year-ago quarter and revenue per registered user of $21.46, up 9% compared to the year-ago quarter. Our Q1 adjusted EBITDA margin of 17.7% was above expectations, demonstrating the strength and scalability of our financial model."
