ALKT Nasdaq Services-Prepackaged Software Financials FY2019βFY2025
Alkami Technology, Inc. had $444M of revenue in fiscal 2025, up 32.9% on the year before. Over five years, revenue changed +31.7% a year on average.
Last close Β· Oct 23, 2026
$16.03
0.5%Hi! I read Alkami Technology, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+32.9%
Yes. Sales grew 32.9% last year.
Does it make a profit?
β10.7%
No. It lost money last year.
Does profit turn into cash?
9.3%
Partly. 9.3% of sales ends up as free cash.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Alkami Technology, Inc. had $444M of revenue in fiscal 2025, up 32.9% on the year before. Over five years, revenue changed +31.7% a year on average. Its operating margin was β12.1%, up 1.3Β pts: of every 100 in sales, about β12 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Alkami Technology, Inc. lost $47.7M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $41.4M in fiscal 2025, 9.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $255M and sold $1.5M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$255M
8 insiders
Sold, 12 months
$1.5M
4 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 14, 2026 | General Atlantic Partners (Lux), SCSpDirector, 10% owner | Bought | 675,000 | $16.49 | $11.1M | Form 4 |
| May 14, 2026 | General Atlantic (AL) SPV, L.P.Director, 10% owner | Bought | 675,000 | $16.49 | $11.1M | Form 4 |
| May 13, 2026 | General Atlantic Partners (Lux), SCSpDirector, 10% owner | Bought | 550,000 | $16.63 | $9.1M | Form 4 |
| May 13, 2026 | General Atlantic (AL) SPV, L.P.Director, 10% owner | Bought | 550,000 | $16.63 | $9.1M | Form 4 |
| May 12, 2026 | General Atlantic Partners (Lux), SCSpDirector, 10% owner | Bought | 750,000 | $16.87 | $12.7M | Form 4 |
| May 12, 2026 | General Atlantic (AL) SPV, L.P.Director, 10% owner | Bought | 750,000 | $16.87 | $12.7M | Form 4 |
| May 6, 2026 | General Atlantic (SPV) GP, LLCDirector, 10% owner | Bought | 844,772 | $16.63 | $14.0M | Form 4 |
| May 6, 2026 | General Atlantic GenPar (Lux) SCSpDirector, 10% owner | Bought | 844,772 | $16.63 | $14.0M | Form 4 |
| May 5, 2026 | General Atlantic (SPV) GP, LLCDirector, 10% owner | Bought | 700,000 | $16.84 | $11.8M | Form 4 |
| May 5, 2026 | General Atlantic GenPar (Lux) SCSpDirector, 10% owner | Bought | 700,000 | $16.84 | $11.8M | Form 4 |
| May 4, 2026 | General Atlantic (SPV) GP, LLCDirector, 10% owner | Bought | 521,771 | $16.92 | $8.8M | Form 4 |
| May 4, 2026 | General Atlantic GenPar (Lux) SCSpDirector, 10% owner | Bought | 521,771 | $16.92 | $8.8M | Form 4 |
| Mar 12, 2026 | Gap Coinvestments III, LLCDirector, 10% owner | Bought | 500,000 | $18.33 | $9.2M | Form 4 |
| Mar 12, 2026 | General Atlantic (SPV) GP, LLCDirector, 10% owner | Bought | 500,000 | $18.33 | $9.2M | Form 4 |
| Mar 11, 2026 | Joseph P. PayneDirector | Bought | 5,500 | $18.23 | $0.1M | Form 4 |
| Mar 11, 2026 | General Atlantic Partners (Bermuda) EU, L.P.Director, 10% owner | Bought | 900,000 | $18.41 | $16.6M | Form 4 |
| Mar 11, 2026 | General Atlantic Partners (Bermuda) IV, L.P.Director, 10% owner | Bought | 900,000 | $18.41 | $16.6M | Form 4 |
| Mar 10, 2026 | General Atlantic Partners (Bermuda) EU, L.P.Director, 10% owner | Bought | 1,103,749 | $17.56 | $19.4M | Form 4 |
| Mar 10, 2026 | General Atlantic Partners (Bermuda) IV, L.P.Director, 10% owner | Bought | 1,103,749 | $17.56 | $19.4M | Form 4 |
| Mar 9, 2026 | Alex ShootmanChief Executive Officer, Director | Sold | 10,876 | $16.59 | $0.2M | Form 4 |
| Mar 9, 2026 | General Atlantic Partners (Bermuda) IV, L.P.Director, 10% owner | Bought | 842,266 | $17.35 | $14.6M | Form 4 |
| Mar 9, 2026 | General Atlantic Partners (Bermuda) EU, L.P.Director, 10% owner | Bought | 842,266 | $17.35 | $14.6M | Form 4 |
| Mar 2, 2026 | Douglas A. LinebargerChief Legal Officer | Sold | 5,518 | $16.90 | $0.1M | Form 4 |
| Mar 2, 2026 | Cassandra HudsonChief Financial Officer | Sold | 6,869 | $16.90 | $0.1M | Form 4 |
| Mar 2, 2026 | Prerna SachdevaChief Accounting Officer | Sold | 1,352 | $16.90 | $0.0M | Form 4 |
| Dec 9, 2025 | Alex ShootmanChief Executive Officer, Director | Sold | 42,930 | $21.92 | $0.9M | Form 4 |
| Dec 2, 2025 | Douglas A. LinebargerChief Legal Officer | Sold | 8,179 | $20.34 | $0.2M | Form 4 |
| Dec 2, 2025 | Prerna SachdevaChief Accounting Officer | Sold | 1,101 | $20.34 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Alkami Technology, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $309M | $196M | $92.1M | $94.4M | $63.5M |
| Debt incl. finance leases | $24.6M | $84.6M | $0.0M | β | β |
| Debt / equity | 0.1x | 0.3x | 0.0x | β | β |
| Interest coverage | β36.2x | β15.0x | β8.6x | β96.8x | β5.7x |
| Current ratio | 10.4x | 5.8x | 3.8x | 4.0x | 2.1x |
| Quick ratio | 10.4x | 5.8x | 3.8x | 4.0x | 2.1x |
| Total assets | $437M | $489M | $400M | $437M | $847M |
| Total liabilities | $91.9M | $155M | $74.9M | $80.2M | $485M |
| Shareholders' equity | $345M | $334M | $325M | $357M | $362M |
| Net debt (β = net cash) | β$284M | β$112M | β$92.1M | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Alkami Technology, Inc. passes 3 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 5 / 9 | 2 / 9 | 4 / 9 | 6 / 8 | 3 / 8 |
| Accruals ratio | β | β5.3% | β5.2% | β4.4% | β10.2% | β14.2% | β14.1% |
| Altman Z'' | β | β3.83 | 5.62 | 1.68 | 1.73 | 2.47 | β0.90 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $73.5M | $112M | $152M | $204M | $265M | $334M | $444M |
| Gross profit | $30.4M | $59.2M | $83.8M | $108M | $144M | $197M | $257M |
| Research and development | $32.7M | $40.2M | $48.8M | $69.3M | $84.7M | $96.2M | $118M |
| Operating income | β$42.5M | β$35.1M | β$42.9M | β$57.7M | β$63.7M | β$44.6M | β$53.6M |
| Interest expense | $0.1M | $0.5M | $1.2M | $3.9M | $7.4M | $0.5M | $9.5M |
| Pretax income | β | β$51.4M | β$46.7M | β$59.1M | β$62.9M | β$40.5M | β$59.0M |
| Income tax | $0.0M | $0.0M | $0.2M | β$0.5M | $0.0M | $0.3M | β$11.3M |
| Net income | β$41.9M | β$51.4M | β$46.8M | β$58.6M | β$62.9M | β$40.8M | β$47.7M |
| Net income to common | β$43.1M | β$56.6M | β$47.1M | β$58.6M | β$62.9M | β | β |
| Diluted EPS | β$9.91 | β$11.78 | β$0.73 | β$0.64 | β$0.67 | β$0.41 | β$0.46 |
| Diluted shares | 0.00B | 0.00B | 0.06B | 0.09B | 0.09B | 0.10B | 0.10B |
| Cash flow | |||||||
| Cash from operations | β$39.1M | β$38.1M | β$29.0M | β$38.0M | β$17.5M | $18.6M | $42.9M |
| Capital expenditure | $3.7M | $2.1M | $1.1M | $1.1M | $1.1M | $1.2M | $1.5M |
| Free cash flow | β$42.8M | β$40.3M | β$30.1M | β$39.1M | β$18.6M | $17.4M | $41.4M |
| Depreciation and amortization | $2.2M | $2.8M | $3.4M | $8.1M | $10.6M | $10.5M | $26.9M |
| Stock-based compensation | $1.3M | $2.0M | $14.5M | $44.6M | $51.2M | $59.4M | $76.2M |
| Acquisitions | β | $25.1M | $18.3M | $132M | $0.0M | $0.0M | $375M |
| Share buybacks | $0.0M | $3.2M | $3.5M | $0.0M | $0.0M | β | β |
| Dividends paid | $0.0M | $0.0M | $5.0M | $0.0M | $0.0M | β | β |
| Dividends and buybacks | $0.0M | $3.2M | $8.5M | $0.0M | $0.0M | β | β |
| Balance sheet | |||||||
| Cash and short-term investments | $12.0M | $167M | $309M | $196M | $92.1M | $94.4M | $63.5M |
| Total debt | β | $24.9M | $24.6M | $84.6M | $0.0M | β | β |
| Current assets | β | $193M | $345M | $242M | $149M | $181M | $187M |
| Current liabilities | β | $20.5M | $33.2M | $41.6M | $39.4M | $45.6M | $89.5M |
| Property and equipment, net | β | $10.5M | $11.8M | $13.6M | $16.9M | $22.1M | $26.7M |
| Goodwill | β | $16.2M | $48.1M | $148M | $148M | $148M | $403M |
| Intangible assets | β | $8.3M | $11.2M | $42.6M | $35.8M | $29.0M | $159M |
| Total assets | β | $249M | $437M | $489M | $400M | $437M | $847M |
| Total liabilities | β | $69.4M | $91.9M | $155M | $74.9M | $80.2M | $485M |
| Preferred stock | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | β$195M | β$264M | $345M | $334M | $325M | $357M | $362M |
| Margins | |||||||
| Gross margin | 41.4% | 52.8% | 55.1% | 53.0% | 54.4% | 58.9% | 57.8% |
| Operating margin | β57.8% | β31.3% | β28.2% | β28.2% | β24.1% | β13.4% | β12.1% |
| EBITDA margin | β54.8% | β28.8% | β25.9% | β24.3% | β20.0% | β10.2% | β6.0% |
| Net margin | β56.9% | β45.8% | β30.8% | β28.7% | β23.8% | β12.2% | β10.7% |
| FCF margin | β58.2% | β35.9% | β19.8% | β19.1% | β7.0% | 5.2% | 9.3% |
| Returns | |||||||
| Return on capital | β | β | β55.9% | β20.5% | β21.6% | β | β |
| Return on capital employed | β | β15.4% | β10.6% | β12.9% | β17.7% | β11.4% | β7.1% |
| Return on equity | β | β | β115.5% | β17.3% | β19.1% | β12.0% | β13.3% |
| Return on assets | β | β20.6% | β13.7% | β12.7% | β14.2% | β9.8% | β7.4% |
| Return on tangible equity | β | β | β16.5% | β40.9% | β44.6% | β22.7% | β |
| Growth | |||||||
| Revenue growth | β | 52.5% | 35.7% | 34.2% | 29.6% | 26.1% | 32.9% |
| FCF growth | β | β | β | β | β | β | 137.7% |
| Share count change | β | 10.6% | 1,241.3% | 41.0% | 3.4% | 5.1% | 5.1% |
| Financial health | |||||||
| Debt / equity | β | β | 0.1x | 0.3x | 0.0x | β | β |
| Interest coverage | β386.7x | β71.8x | β36.2x | β15.0x | β8.6x | β96.8x | β5.7x |
| Current ratio | β | 9.4x | 10.4x | 5.8x | 3.8x | 4.0x | 2.1x |
| Quick ratio | β | 9.4x | 10.4x | 5.8x | 3.8x | 4.0x | 2.1x |
| Capital allocation | |||||||
| Capex / revenue | 5.0% | 1.9% | 0.7% | 0.5% | 0.4% | 0.4% | 0.3% |
| Stock comp / revenue | 1.7% | 1.7% | 9.6% | 21.8% | 19.3% | 17.8% | 17.2% |
| Quality scores | |||||||
| Piotroski F-score | β | β | 5.0 | 2.0 | 4.0 | 6.0 | 3.0 |
| Altman Z'' | β | β3.8 | 5.6 | 1.7 | 1.7 | 2.5 | β0.9 |
| Accruals ratio | β | β5.3% | β5.2% | β4.4% | β10.2% | β14.2% | β14.1% |
Source: SEC EDGAR XBRL filings (CIK 0001529274). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
