ALKT Technology

Alkami Technology, Inc.

$13.46+0.90%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: United States
Market cap: 1.4B USD
Enterprise value: 1.7B USD
Full-time employees: 1,225

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: more debt relative to equity (0.99× vs a peer median of 0.25×)higher risk: more debt vs equity (0.99× vs peers 0.25×)

Ranks #1,210 of 1,612 technology companies (bottom 25%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 16% from December 2022 to June 2026.
Alkami Technology had 16% more shares at June 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Alkami Technology had 16% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 17% of revenue in 2025.
Alkami Technology paid employees $76M in stock in 2025, 17% of its $444M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Operating margin improving. Operating margin -12% in 2025, the best of the last 6 years, but the dollar loss grew to $54M from $45M.
Alkami Technology still lost money on operations in 2025. Revenue grew faster than costs, so the margin (-12%) was its best in the 6 years of filings we have, but the operating loss itself grew to $54M from $45M.
Valuation signals disagree. Cheaper than 61% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Alkami Technology looks cheaper than 61% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

37/ 100

Oct 5 37 → Nov 4 37

Valuation

Is the price right?

23/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-3.1%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield-1.3%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.17Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield4.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.60Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield25.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

78/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 10.4%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.13Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth27.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 2.90Sector median: 0.0483 · MAD: 0.0793

Revenue growth27.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.82Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

14/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 4.8 points to -7.3%

Why

Weaker than most peers on:

▼ ROA
▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-7.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.92Sector median: 0.0631 · MAD: 0.0710

Return on assets-5.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.31Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-8.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.83Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin57.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity-12.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.60

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.74Sector median: 0.8710 · MAD: 0.3700

Current ratio2.13×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.44Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.99×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -3.25Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Alkami Technology

Is Alkami Technology getting weaker?: Its latest SEC filing (Jul 30, 2026) got stronger: operating margin rose 4.8 points to -7.3%. Its overall score is unchanged at 37/100 since Oct 28, 2026.
How is Alkami Technology valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 1,711 technology peers. Free cash flow yield 4.4% vs a peer median of 2.7% (stronger than 61% of peers).Free cash flow yield 4.4% vs peers 2.7% (stronger than 61% of peers). Earnings yield -3.1% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -3.1% vs peers 2.2% (weaker than 100% of peers).
Is Alkami Technology growing?: Yes, faster than most of its peers. Growth scores 78/100 against 1,711 technology peers. 3-year revenue growth 27.8% vs a peer median of 4.8% (stronger than 93% of peers).3-year revenue growth 27.8% vs peers 4.8% (stronger than 93% of peers).
How profitable is Alkami Technology?: Less profitable than most of its peers. Profitability scores 14/100 against 1,711 technology peers. Return on assets -5.4% vs a peer median of 2.9% (weaker than 90% of peers).Return on assets -5.4% vs peers 2.9% (weaker than 90% of peers).
How risky is Alkami Technology?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 0.60 vs a peer median of 0.87 (stronger than 71% of peers).Beta 0.60 vs peers 0.87 (stronger than 71% of peers). Debt / equity 0.99× vs a peer median of 0.25× (weaker than 83% of peers).Debt / equity 0.99× vs peers 0.25× (weaker than 83% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Dec 31, 2025

Got stronger

Operating margin rose 4.8 points to -7.3%

Worth watching: Alkami Technology is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	443.6M USD	489.7M USD	+10.4%
Net income (12 months)	−54.5M USD	−45.1M USD	−17.2%
Operating margin	-12.1%	-7.3%	+4.8 pts
Free cash flow (12 months)	41.4M USD	63.2M USD	+52.8%
Cash	63.5M USD	45.5M USD	−28.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Software - Application · 81 companies

Valuations in Software - Application are near the bottom of their range since 2016.

6% of months since 2016 were valued lower than now.
8% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −16% and earnings +31% (medians): earnings grew faster than prices.
Median price-to-sales is +85% vs the whole market, against a usual +235%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	55.1%	53.0%	54.4%	58.9%	57.8%	▼ 1.1 pts
Operating margin	-28.2%	-28.2%	-24.1%	-13.4%	-12.1%	▲ 1.3 pts
Net margin	-30.8%	-28.7%	-23.8%	-12.2%	-10.7%	▲ 1.5 pts
Return on assets (ROA)	-10.7%	-12.0%	-15.7%	-9.3%	-5.6%	▲ 3.7 pts
Return on equity (ROE)	-13.6%	-17.5%	-19.4%	-11.4%	-13.2%	▼ 1.7 pts
Free cash flow margin	-19.8%	-19.1%	-7.0%	5.2%	9.3%	▲ 4.1 pts
Current ratio	10.40×	5.82×	3.77×	3.98×	2.09×	▼ 47%
Debt to equity	0.07×	0.25×	0.00×	—	—	—
Interest coverage	-36.19×	-14.98×	-8.63×	-96.80×	-5.65×	▲ 94%

ALKT price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: more debt relative to equity (0.99× vs a peer median of 0.25×)higher risk: more debt vs equity (0.99× vs peers 0.25×)

Ranks #1,210 of 1,612 technology companies (bottom 25%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 16% from December 2022 to June 2026.

Alkami Technology had 16% more shares at June 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Alkami Technology had 16% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 17% of revenue in 2025.

Alkami Technology paid employees $76M in stock in 2025, 17% of its $444M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Operating margin improving. Operating margin -12% in 2025, the best of the last 6 years, but the dollar loss grew to $54M from $45M.

Alkami Technology still lost money on operations in 2025. Revenue grew faster than costs, so the margin (-12%) was its best in the 6 years of filings we have, but the operating loss itself grew to $54M from $45M.

Valuation signals disagree. Cheaper than 61% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Alkami Technology looks cheaper than 61% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about Alkami Technology

Is Alkami Technology getting weaker?

Its latest SEC filing (Jul 30, 2026) got stronger: operating margin rose 4.8 points to -7.3%. Its overall score is unchanged at 37/100 since Oct 28, 2026.

How is Alkami Technology valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 1,711 technology peers. Free cash flow yield 4.4% vs a peer median of 2.7% (stronger than 61% of peers).Free cash flow yield 4.4% vs peers 2.7% (stronger than 61% of peers). Earnings yield -3.1% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -3.1% vs peers 2.2% (weaker than 100% of peers).

Is Alkami Technology growing?

Yes, faster than most of its peers. Growth scores 78/100 against 1,711 technology peers. 3-year revenue growth 27.8% vs a peer median of 4.8% (stronger than 93% of peers).3-year revenue growth 27.8% vs peers 4.8% (stronger than 93% of peers).

How profitable is Alkami Technology?

Less profitable than most of its peers. Profitability scores 14/100 against 1,711 technology peers. Return on assets -5.4% vs a peer median of 2.9% (weaker than 90% of peers).Return on assets -5.4% vs peers 2.9% (weaker than 90% of peers).

How risky is Alkami Technology?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 0.60 vs a peer median of 0.87 (stronger than 71% of peers).Beta 0.60 vs peers 0.87 (stronger than 71% of peers). Debt / equity 0.99× vs a peer median of 0.25× (weaker than 83% of peers).Debt / equity 0.99× vs peers 0.25× (weaker than 83% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

443.6M USD

489.7M USD

+10.4%

Net income (12 months)

−54.5M USD

−45.1M USD

−17.2%

Operating margin

-12.1%

-7.3%

+4.8 pts

Free cash flow (12 months)

41.4M USD

63.2M USD

+52.8%

Cash

63.5M USD

45.5M USD

−28.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

55.1%

53.0%

54.4%

58.9%

57.8%

▼ 1.1 pts

Operating margin

-28.2%

-24.1%

-13.4%

-12.1%

▲ 1.3 pts

Net margin

-30.8%

-28.7%

-23.8%

-12.2%

-10.7%

▲ 1.5 pts

Return on assets (ROA)

-10.7%

-12.0%

-15.7%

-9.3%

-5.6%

▲ 3.7 pts

Return on equity (ROE)

-13.6%

-17.5%

-19.4%

-11.4%

-13.2%

▼ 1.7 pts

Free cash flow margin

-19.8%

-19.1%

-7.0%

5.2%

9.3%

▲ 4.1 pts

Current ratio

10.40×

5.82×

3.77×

3.98×

2.09×

▼ 47%

Debt to equity

0.07×

0.25×

0.00×

—

Interest coverage

-36.19×

-14.98×

-8.63×

-96.80×

-5.65×

▲ 94%