Alkami Technology Posts 29% Q1 Revenue Growth with $22M Adjusted EBITDA
Alkami Technology grew Q1 revenue 29% to $126.1M and generated over $22M in adjusted EBITDA while reporting a $10M GAAP loss and flat non-GAAP gross margin due to elevated database costs. The MANTL acquisition added 61 new clients and drove a 30% higher ARPU on DSSP deals.
1. Q1 Financial Results
Alkami reported Q1 2026 revenue of $126.1 million, a 29% year-over-year increase, with adjusted EBITDA exceeding $22 million. The company recorded a GAAP loss of $10 million (9 cents per share) and non-GAAP gross margin held flat due to elevated database technology costs forecast to decline by late 2026.
2. MANTL Acquisition Impact
The MANTL acquisition has added 61 clients since early 2025 and expanded platform functionality, leading to DSSP client count rising from 11 to 48. DSSP deals are delivering approximately 30% higher average revenue per user, highlighting the acquisition’s contribution to client expansion and revenue diversification.
3. Guidance and Market Outlook
For the quarter ending June, Alkami expects revenue of $128 million to $129 million and full-year revenue of $527.1 million to $530.9 million. With over 2,000 regional banks and credit unions as potential clients, high retention rates and platform upsells support long-term growth prospects.