Recent News
Jun 10, 2026: Alkami announced FDX API integration with Yodlee to expand open-banking connectivity. Jul 30, 2026: Alkami expanded a partnership with Plaid to enable account linking and enriched transaction data inside its platform. Aug 25, 2026: Alkami issued a release positioning itself as the leading digital-banking solution for credit unions while noting growth among bank customers.
Technical Analysis
ADX at 22.92 indicates an emerging trend strength that gives the current directional signals modest conviction for the near term.
Directional indicators show DI+ at 25.88 with a peak & reversal and DI- increasing at 18.85; that configuration implies recent loss of bullish momentum while downside pressure builds from sellers.
MACD sits at 0.37 with a decreasing trend and remains below the signal line at 0.51, signaling bearish momentum rather than a fresh bullish crossover.
MRO reads -6.41, placing price below target and therefore implying available upside to close that gap if momentum stabilizes.
RSI at 57.1 with a peak & reversal marks faded short-term strength but not overbought conditions, consistent with consolidation rather than a sharp reversal.
Price relationships: last close $19.69 trades under the 20-day average ($20.09) but above the 200-day average ($18.48), indicating short-term weakness inside a longer-term uptrend. Tenkan (19.96) sits above price while Kijun (19.23) resides below, suggesting short-term resistance near the Tenkan level and intraday support closer to the Kijun and the super-trend lower at $18.96.
Volume (707,052) remains below 10-, 50-, and 200-day averages, reflecting lighter participation during consolidation and reducing conviction behind recent price moves.
Fundamental Analysis
Revenue totaled $129,844,000 for the period ending 2026-06-30. YoY revenue growth shows -79.79% while the provided trailing revenue growth reads 2.94%; QoQ revenue movement registered -33.64%, indicating recent volatility in top-line comparisons across reporting periods.
Profitability metrics show operating margin at -5.93% and EBIT margin at -5.41%; both improved QoQ (EBIT margin QoQ +37.97 percentage points) but remain negative YoY (EBIT margin YoY -58.78 percentage points), indicating margin recovery from recent quarters but a materially lower profitability base versus the prior year. The company’s EBIT margin sits well below the industry peer mean of 39.755% and industry peer median of 49.869%.
EPS came in at $0.16, matching the $0.16 estimate and producing an EPS surprise ratio of 2%. Forward EPS equals $0.2717 with a forward P/E near 61.0, while the reported trailing P/E stands at 106.8 and the P/E YoY change shows -73.94%.
Balance-sheet and cash metrics remain supportive: cash and short-term investments $80,955,000, free cash flow $19,757,000 and free-cash-flow yield 1.08%, which sits above the industry peer mean yield of 0.749%. Current ratio 2.13 exceeds the industry peer mean of 1.733, reflecting ample near-term liquidity. Debt-to-equity near 0.99 shows higher leverage versus the industry peer mean of 0.2449.
Margins and returns lag peer central tendencies: gross margin 56.85% under the industry peer mean of 71.224%, return on equity -2.45% below the industry peer mean of 6.847% (expressed as 0.06847), and return on assets -1.07% below the industry peer mean. These gaps demonstrate ongoing operating leverage constraints despite improving QoQ trends in some margin metrics.
WMDST valuation: the current valuation as determined by WMDST registers as under-valued with an EV/Revenue and EVR reading of 16.21 and an enterprise value of $2,104,638,248, reflecting market pricing that treats growth and margin recovery as only partially priced in.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-29 |
| NEXT REPORT DATE: | 2026-10-28 |
| CASH FLOW | Begin Period Cash Flow | $ 40.4 M |
| Operating Cash Flow | $ 22.0 M | |
| Capital Expenditures | $ -2.26 M | |
| Change In Working Capital | $ 4.6 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 5.1 M | |
| End Period Cash Flow | $ 45.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 129.8 M | |
| Forward Revenue | $ -105.97 M | |
| COSTS | ||
| Cost Of Revenue | $ 56.0 M | |
| Depreciation | $ 6.6 M | |
| Depreciation and Amortization | $ 8.3 M | |
| Research and Development | $ 31.4 M | |
| Total Operating Expenses | $ 137.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 73.8 M | |
| EBITDA | $ 1.3 M | |
| EBIT | $ -7.02 M | |
| Operating Income | $ -7.71 M | |
| Interest Income | $ 684.0 K | |
| Interest Expense | $ 2.1 M | |
| Net Interest Income | $ -1.41 M | |
| Income Before Tax | $ -9.11 M | |
| Tax Provision | $ -212.00 K | |
| Tax Rate | 2.327 % | |
| Net Income | $ -8.90 M | |
| Net Income From Continuing Operations | $ -8.90 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.16 | |
| EPS Actual | $ 0.16 | |
| EPS Difference | $ 0.00 | |
| EPS Surprise | 2.0 % | |
| Forward EPS | $ 0.27 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 831.1 M | |
| Intangible Assets | $ 549.1 M | |
| Net Tangible Assets | $ -186.43 M | |
| Total Current Assets | $ 177.5 M | |
| Cash and Short-Term Investments | $ 81.0 M | |
| Cash | $ 45.5 M | |
| Net Receivables | $ 49.7 M | |
| Inventory | — | |
| Long-Term Investments | $ 10.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 12.3 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 83.2 M | |
| Net Debt | $ 291.7 M | |
| Total Debt | $ 358.2 M | |
| Total Liabilities | $ 468.4 M | |
| EQUITY | ||
| Total Equity | $ 362.7 M | |
| Retained Earnings | $ -542.72 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.39 | |
| Shares Outstanding | 106.942 M | |
| Revenue Per-Share | $ 1.21 | |
| VALUATION | Market Capitalization | $ 1.8 B |
| Enterprise Value | $ 2.1 B | |
| Enterprise Multiple | 1657.195 | |
| Enterprise Multiple QoQ | 144.826 % | |
| Enterprise Multiple YoY | -483.176 % | |
| Enterprise Multiple IPRWA | ALKT: 1657.195 high: 477.541 mean: 78.424 median: 52.352 low: -246.135 |
|
| EV/R | 16.209 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.292 | |
| Asset To Liability | 1.774 | |
| Debt To Capital | 0.497 | |
| Debt To Assets | 0.431 | |
| Debt To Assets QoQ | -0.225 % | |
| Debt To Assets YoY | -10.2 % | |
| Debt To Assets IPRWA | high: 1.037 ALKT: 0.431 mean: 0.162 median: 0.075 low: 0.005 |
|
| Debt To Equity | 0.988 | |
| Debt To Equity QoQ | 2.184 % | |
| Debt To Equity YoY | -15.763 % | |
| Debt To Equity IPRWA | high: 3.078 ALKT: 0.988 mean: 0.245 median: 0.128 low: -2.107 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.039 | |
| Price To Book QoQ | -0.266 % | |
| Price To Book YoY | -35.479 % | |
| Price To Book IPRWA | high: 19.185 mean: 7.652 median: 6.661 ALKT: 5.039 low: -10.151 |
|
| Price To Earnings (P/E) | 106.801 | |
| Price To Earnings QoQ | 3.761 % | |
| Price To Earnings YoY | -73.94 % | |
| Price To Earnings IPRWA | high: 359.099 mean: 107.286 ALKT: 106.801 median: 81.648 low: -196.279 |
|
| PE/G Ratio | -18.157 | |
| Price To Sales (P/S) | 14.074 | |
| Price To Sales QoQ | -5.198 % | |
| Price To Sales YoY | -41.296 % | |
| Price To Sales IPRWA | high: 81.172 mean: 34.03 median: 32.739 ALKT: 14.074 low: 0.213 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 60.996 | |
| Forward PE/G | -10.37 | |
| Forward P/S | -17.265 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 14.309 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.156 | |
| Asset Turnover Ratio QoQ | 3.941 % | |
| Asset Turnover Ratio YoY | 17.066 % | |
| Asset Turnover Ratio IPRWA | high: 0.368 ALKT: 0.156 mean: 0.128 median: 0.124 low: 0.002 |
|
| Receivables Turnover | 2.762 | |
| Receivables Turnover Ratio QoQ | -3.153 % | |
| Receivables Turnover Ratio YoY | -4.455 % | |
| Receivables Turnover Ratio IPRWA | high: 5.131 ALKT: 2.762 mean: 1.418 median: 1.277 low: 0.46 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 33.033 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 18.745 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 180.031 ALKT: 18.745 mean: -23.017 median: -60.051 low: -179.144 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.377 | |
| CapEx To Revenue | -0.017 | |
| CapEx To Depreciation | -0.344 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 699.9 M | |
| Net Invested Capital | $ 699.9 M | |
| Invested Capital | $ 699.9 M | |
| Net Tangible Assets | $ -186.43 M | |
| Net Working Capital | $ 94.3 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.973 | |
| Current Ratio | 2.133 | |
| Current Ratio QoQ | -7.193 % | |
| Current Ratio YoY | -20.339 % | |
| Current Ratio IPRWA | high: 7.228 ALKT: 2.133 mean: 1.733 median: 1.23 low: 0.314 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 282.014 | |
| Cost Of Debt | 0.57 % | |
| Interest Coverage Ratio | -3.358 | |
| Interest Coverage Ratio QoQ | 53.995 % | |
| Interest Coverage Ratio YoY | -27.176 % | |
| Interest Coverage Ratio IPRWA | high: 86.943 median: 53.499 mean: 37.412 ALKT: -3.358 low: -64.202 |
|
| Operating Cash Flow Ratio | 0.028 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 14.288 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.21 % | |
| Revenue Growth | 2.938 % | |
| Revenue Growth QoQ | -33.635 % | |
| Revenue Growth YoY | -79.792 % | |
| Revenue Growth IPRWA | high: 18.552 % median: 8.404 % mean: 8.144 % ALKT: 2.938 % low: -13.038 % |
|
| Earnings Growth | -5.882 % | |
| Earnings Growth QoQ | -106.617 % | |
| Earnings Growth YoY | -135.291 % | |
| Earnings Growth IPRWA | high: 66.142 % mean: 11.63 % median: 10.345 % ALKT: -5.882 % low: -83.333 % |
|
| MARGINS | ||
| Gross Margin | 56.847 % | |
| Gross Margin QoQ | -2.929 % | |
| Gross Margin YoY | -2.92 % | |
| Gross Margin IPRWA | high: 90.951 % mean: 71.224 % median: 67.197 % ALKT: 56.847 % low: 35.718 % |
|
| EBIT Margin | -5.407 % | |
| EBIT Margin QoQ | 37.969 % | |
| EBIT Margin YoY | -58.779 % | |
| EBIT Margin IPRWA | high: 80.922 % median: 49.869 % mean: 39.755 % ALKT: -5.407 % low: -59.854 % |
|
| Return On Sales (ROS) | -5.934 % | |
| Return On Sales QoQ | 31.196 % | |
| Return On Sales YoY | -56.68 % | |
| Return On Sales IPRWA | high: 77.678 % median: 45.111 % mean: 36.04 % ALKT: -5.934 % low: -67.154 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 19.8 M | |
| Free Cash Flow Yield | 1.081 % | |
| Free Cash Flow Yield QoQ | -374.365 % | |
| Free Cash Flow Yield YoY | -3021.622 % | |
| Free Cash Flow Yield IPRWA | high: 5.981 % ALKT: 1.081 % mean: 0.749 % median: 0.666 % low: -5.687 % |
|
| Free Cash Growth | -367.928 % | |
| Free Cash Growth QoQ | 142.911 % | |
| Free Cash Growth YoY | 323.846 % | |
| Free Cash Growth IPRWA | high: 215.912 % median: 24.274 % mean: 9.79 % low: -222.15 % ALKT: -367.928 % |
|
| Free Cash To Net Income | -2.22 | |
| Cash Flow Margin | 1.767 % | |
| Cash Flow To Earnings | -0.258 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.072 % | |
| Return On Assets QoQ | -9.84 % | |
| Return On Assets YoY | -33.827 % | |
| Return On Assets IPRWA | high: 11.61 % median: 4.924 % mean: 3.977 % ALKT: -1.072 % low: -13.501 % |
|
| Return On Capital Employed (ROCE) | -0.939 % | |
| Return On Equity (ROE) | -0.025 | |
| Return On Equity QoQ | -8.705 % | |
| Return On Equity YoY | -37.889 % | |
| Return On Equity IPRWA | high: 0.188 median: 0.081 mean: 0.068 ALKT: -0.025 low: -0.266 |
|
| DuPont ROE | -2.427 % | |
| Return On Invested Capital (ROIC) | -0.98 % | |
| Return On Invested Capital QoQ | 133.89 % | |
| Return On Invested Capital YoY | -36.031 % | |
| Return On Invested Capital IPRWA | high: 19.61 % median: 7.551 % mean: 6.135 % ALKT: -0.98 % low: -14.563 % |
|