Revenue: As of FY2026 Q2, the actual value is USD 129.84 M, beating the estimate of USD 128.7 M.

EPS: As of FY2026 Q2, the actual value is USD -0.08, beating the estimate of USD -0.09.

EBIT: As of FY2026 Q2, the actual value is USD -6.298 M.

Second Quarter 2026 Financial Highlights

Gross Margin

• Alkami Technology, Inc. reported a GAAP gross margin of 56.8% for the second quarter of 2026, compared to 58.6% in the year-ago quarter.
• The non-GAAP gross margin was 63.0%, down from 65.1% in the year-ago quarter.
• Gross margin saw a decline due to increased third-party costs and temporary 2026 database costs.

Net Loss

• The company’s GAAP net loss was - $8.9 million, an improvement from - $13.6 million in the year-ago quarter.

Adjusted EBITDA

• Adjusted EBITDA increased to $19.4 million, compared to $11.9 million in the year-ago quarter.
• The second quarter adjusted EBITDA margin was 14.9%, showing nearly 430 basis points of expansion compared to the year-ago quarter.
• Adjusted EBITDA expanded as a result of continued scale and efficiencies across R&D, S&M, and G&A.

Operational Metrics

New Digital Banking Logos

• Alkami Technology, Inc. added 37 new digital banking logos over the last 12 months, including 15 banks.

Live Clients

• In the second quarter, five new clients were brought live on the Digital Sales and Service Platform.

Registered Users

• The company ended the quarter with 23.6 million digital banking users, adding 2.7 million registered users to its digital banking platform in the last 12 months.
• Registered users reached 23.6 million in Q2 2026, an increase of 2.7 million or 13% from 20.9 million in Q2 2025.
• The number of registered users grew to 23.6 million in Q2 2026 from 20.9 million in Q2 2025, 22.4 million in 2025, 20.0 million in 2024, and 17.5 million in 2023.

Annual Recurring Revenue (ARR)

• Annual recurring revenue reached $511.7 million, up 21% compared to the year-ago quarter.
• Live ARR reached $511.7 million in Q2 2026, marking a 21% growth from $423.8 million in Q2 2025.
• This figure increased from $423.8 million in Q2 2025, $480.3 million in 2025, $355.9 million in 2024, and $291.0 million in 2023.

Revenue per Registered User (RPU)

• Revenue per registered user was $21.69, an increase of 7.0% compared to the year-ago quarter.
• RPU was $21.69 in Q2 2026, increasing 7% from $20.28 in Q2 2025.
• RPU grew to $21.69 in Q2 2026 from $20.28 in Q2 2025, $21.44 in 2025, $17.81 in 2024, and $16.63 in 2023.

Remaining Performance Obligation (RPO)

• RPO was $1.7 billion in Q2 2026, representing 3.4 times the live ARR.
• RPO grew to $1,744 million in Q2 2026, up from $1,579 million in Q2 2025, $1,715 million in 2025, $1,366 million in 2024, and $1,140 million in 2023.

Subscription Revenue Mix

• Subscription revenue comprised 95% of the total revenue mix as of June 30, 2026.

Net Dollar Retention

• Net Dollar Retention was 115% as of December 31, 2025.

Digital Banking Platform Clients

• Alkami Technology, Inc. had 313 digital banking platform clients in Q2 2026, up from 280 in Q2 2025.
• The company signed 5 new digital banking platform clients and implemented 8 clients during Q2 2026.
• There are 37 new clients in the implementation backlog, representing 1.3 million digital users.
• Client count grew to 313 in Q2 2026 from 280 in Q2 2025, 301 in 2025, 272 in 2024, and 236 in 2023.

Digital Banking ARR Churn

• Expected digital banking ARR churn for 2026 is less than 1%.

Annual Client Retention

• Alkami Technology, Inc. models annual client retention between 97% and 98%.

Cash Flow (Six Months Ended June 30)

Net Cash from Operating Activities

• Net cash provided by operating activities for the six months ended June 30, 2026, was $17,220 thousand, a significant improvement from net cash used in operating activities of - $4,507 thousand for the same period in 2025.

Free Cash Flow

• Free cash flow for the six months ended June 30, 2026, was $12,383 thousand, compared to - $8,597 thousand for the same period in 2025.

2026 Financial Outlook

• For the third quarter ending September 30, 2026, Alkami Technology, Inc. projects GAAP total revenue between $132.7 million and $134.2 million, with Adjusted EBITDA expected to range from $23.5 million to $24.3 million.
• For the full fiscal year ending December 31, 2026, the company anticipates GAAP total revenue between $528.0 million and $531.0 million, and Adjusted EBITDA in the range of $96.0 million to $98.0 million.
• Alkami Technology, Inc. also anticipates its gross margin to approach 70% by 2030 and expects an Adjusted EBITDA margin expansion of approximately 300 basis points annually from 2026 to 2030, aiming to achieve a Rule of 45 by 2030.