ALKAMI TECHNOLOGY, INC. (ALKT)

Alkami is a cloud-based digital sales and service platform provider that helps community, regional and super-regional financial institutions (FIs) in the United States compete with large, technologically advanced banks. Its Alkami Digital Sales & Service Platform combines the Alkami Digital Banking Platform, Onboarding & Account Opening, and Data & Marketing. It is delivered as SaaS on a proprietary, multi-tenant, single-code-base architecture hosted entirely on Amazon Web Services. The company began in 2009 and has expanded through acquisitions: ACH Alert (October 2020, fraud prevention), Segmint (April 2022, financial data analytics and marketing), and MANTL (March 2025, onboarding, account opening and loan origination). It also set up a subsidiary in India in 2024, which remains immaterial to its financial statements.

The platform offers 36 products in 10 categories: Onboard & Account Opening, Marketing, Data Insights, Account Management, Payments & Receivables, Admin, Risk & Reporting, Business & Commercial Banking, Retail Banking, Financial Analytics, and Extensibility (SDK and APIs). It maintains more than 300 real-time integrations with core systems and third-party fintech solutions. Revenue comes almost entirely from multi-year contracts, with an average contract life of about 70 months, and is predominantly priced per registered user, with tiered discounts and contractual minimums. SaaS subscription services were 95.0% of 2025 revenue. Total revenue was $443.6 million in 2025, up 32.9% from 2024, and net loss was $47.7 million.

Alkami's customers are banks and credit unions. It targets the top 2,500 FIs by assets, excluding those with more than $450 billion in assets, within an addressable market of FIs with $100 million to $450 billion in assets. It had 301 Digital Banking Platform clients and 22.4 million live registered users at December 31, 2025. On average, clients used 16 of the 36 products, and the 2025 new client cohort contracted for an average of 19. The company sells mainly through an internal sales force. Sales cycles run roughly three to 12 months, and implementation typically takes six to 12 months. Growth strategies include cross-selling, raising registered-user penetration within existing clients, winning new clients, expanding the product suite (research and development was 26.7% of 2025 revenue), and selective acquisitions.

Alkami competes against providers with single-tenant or legacy architectures, and its clients compete with megabanks, challenger banks and other technology-enabled rivals. The platform ran at an average uptime above 99.95% in 2025. The text does not identify the company's headquarters or specific competitors or suppliers beyond AWS.