$ALKT

ALKAMI TECHNOLOGY, INC.

CIK:0001529274|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Revenues

$ 129,844

$ 112,059

$ 255,982

$ 209,894

Cost of revenues

^[1]

56,031

46,441

108,300

86,516

Gross profit

73,813

65,618

147,682

123,378

Operating expenses:

Research and development

31,399

30,231

62,399

57,116

Sales and marketing

22,821

22,991

42,776

40,890

General and administrative

25,591

26,552

52,503

54,356

Amortization of acquired intangibles

1,707

3,414

2,275

Total operating expenses

81,518

81,481

161,092

154,637

Loss from operations

(7,705)

(15,863)

(13,410)

(31,259)

Non-operating income (expense):

Interest income

684

1,164

1,446

2,260

Interest expense

(2,091)

(3,188)

(4,358)

(3,989)

Loss before income taxes

(9,112)

(17,887)

(16,322)

(32,988)

(Benefit from) provision for income taxes

(212)

(4,296)

2,541

(11,581)

Net loss

$ (8,900)

$ (13,591)

$ (18,863)

$ (21,407)

Net loss per share attributable to common stockholders:

Basic (in dollars per share)

$ (0.08)

$ (0.13)

$ (0.18)

$ (0.21)

Diluted (in dollars per share)

$ (0.08)

$ (0.13)

$ (0.18)

$ (0.21)

Weighted-average number of shares of common stock outstanding:

Basic (in shares)

106,862,412

103,389,459

106,626,081

102,912,715

Diluted (in shares)

106,862,412

103,389,459

106,626,081

102,912,715

[1]	Includes amortization of acquired technology of $4.9 million for both the three months ended June 30, 2026 and 2025, and $9.8 million and $6.8 million for the six months ended June 30, 2026 and 2025, respectively.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (18,863)	$ (21,407)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense	16,415	11,186
Accrued interest on marketable securities, net	(75)	(540)
Stock-based compensation expense	34,802	35,608
Amortization of discount and debt issuance costs	1,118	785
Loss on impairment of intangible assets	0	1,655
Deferred taxes	315	(12,006)
Changes in operating assets and liabilities:
Accounts receivable	(5,224)	(7,461)
Prepaid expenses and other assets	(2,098)	(15,752)
Accounts payable and accrued liabilities	(5,793)	4,199
Deferred costs	(2,361)	(2,280)
Deferred revenues	(1,016)	1,506
Net cash provided by (used in) operating activities	17,220	(4,507)
Cash flows from investing activities:
Purchase of marketable securities	(23,531)	(29,971)
Proceeds from sales, maturities, and redemptions of marketable securities	23,798	17,200
Purchases of property and equipment	(772)	(882)
Capitalized software development costs	(4,065)	(3,208)
Acquisition of business, net of cash acquired	0	(375,499)
Net cash used in investing activities	(4,570)	(392,360)
Cash flows from financing activities:
Payments on revolving loan	(15,000)	(10,000)
Debt issuance costs paid	0	(1,898)
Proceeds from ESPP issuances	3,094	2,943
Proceeds from issuance of convertible senior notes	0	335,513
Proceeds from borrowing under revolving loan	0	60,000
Purchase of capped calls	0	(33,879)
Payments for taxes related to net settlement of equity awards	(5,030)	0
Proceeds from stock option exercises	1,341	2,255
Repurchases of common stock	(15,000)	0
Net cash (used in) provided by financing activities	(30,595)	354,934
Net decrease in cash and cash equivalents	(17,945)	(41,933)
Cash and cash equivalents, beginning of period	63,457	94,359
Cash and cash equivalents, end of period	$ 45,512	$ 52,426

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 45,512	$ 63,457
Marketable securities	35,443	35,635
Accounts receivable, net	56,718	51,494
Deferred costs, current	17,464	15,894
Prepaid expenses and other current assets	22,318	20,736
Total current assets	177,455	187,216
Property and equipment, net	28,567	26,652
Right-of-use assets	17,208	13,462
Deferred costs, net of current portion	48,651	47,430
Intangibles, net	145,704	158,943
Goodwill	403,404	403,404
Other assets	10,092	10,120
Total assets	831,081	847,227
Current liabilities
Accounts payable	12,330	5,842
Accrued liabilities	35,176	47,359
Deferred revenues, current portion	33,513	34,770
Lease liabilities, current portion	2,170	1,576
Total current liabilities	83,189	89,547
Deferred revenues, net of current portion	26,041	25,800
Deferred income taxes	2,940	2,625
Convertible senior notes, net	337,204	336,230
Revolving loan	0	15,000
Lease liabilities, net of current portion	18,784	15,739
Other non-current liabilities	246	237
Total liabilities	468,404	485,178
Stockholders’ Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized and 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value, 500,000,000 shares authorized; and 106,941,980 and 106,101,875 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	107	106
Additional paid-in capital	905,286	885,796
Accumulated deficit	(542,716)	(523,853)
Total stockholders’ equity	362,677	362,049
Total liabilities and stockholders' equity	$ 831,081	$ 847,227