Recent News
On May 7, Alkami published the 2026 Digital Banking Performance Metrics Report, expanding benchmarks to include business banking and highlighting rising digital adoption and engagement.
On May 18–19 Alkami scheduled investor presentations at the J.P. Morgan Global Technology, Media & Communications conference and the William Blair Growth Stock Conference.
On May 20 Alkami hosted a webinar focused on advancing anticipatory business banking through connected digital experiences.
On April 26 Alkami published commentary on its Elements partnership and product positioning for financial institutions.
Technical Analysis
Directional indicators: ADX at 18.15 signals no established trend; DI+ at 27.58 with a decreasing trajectory signals waning bullish directional pressure, while DI- showing a peak-and-reversal signals retreating bearish pressure—collectively favor consolidation with a modest downward tilt versus prior momentum.
MACD: MACD at 0.24 sits below the signal line at 0.32 and the MACD trend shows a peak-and-reversal, indicating bearish momentum in the oscillator despite a small positive MACD value; this points toward near-term negative momentum pressure on price.
MRO: MRO equals -11.67 (negative), indicating the price sits below the MRO target and therefore carries potential for a corrective upside; the magnitude implies moderate mean-reversion potential while the MRO trend shows a peak-and-reversal.
RSI and short-term momentum: RSI at 52.51 with a peak-and-reversal shows momentum that recently topped and has begun to fade; price sits below the 12- and 20-day EMAs and below the 200-day average ($18.90), reinforcing short-to-intermediate term soft bias.
Price structure and bands: The close at $16.48 trades below the 20-day average ($17.83) and inside the lower Bollinger region (lower 1σ = $17.06, lower 2σ = $16.29), indicating short-term weakness but not an extreme oversold state; Ichimoku components (Senkou A/B ≈ $17.01) lie above price, implying resistance in the cloud area.
Fundamental Analysis
Profitability and margins: Operating income stands negative with EBIT of -$4,943,000 and an EBIT margin of -3.92%, versus an industry peer mean EBIT margin of 38.81% and an industry peer median of 48.40%, leaving Alkami materially below peer profitability benchmarks. QoQ EBIT margin contracted by 45.10% and YoY by 73.19%, reflecting near-term margin compression.
Revenue and growth: Reported total revenue equals $126,138,000. The dataset shows revenue growth at 4.43% for the referenced period while YoY revenue growth reads -51.47%; QoQ revenue growth registered -36.19%, indicating recent quarter-to-quarter softness despite pockets of sequential expansion in other periods.
Earnings and cash flow: Actual EPS reached $0.17 versus an estimate of $0.18, an EPS surprise of -5.56%. Net income recorded a loss of -$9,963,000 while EBITDA stayed positive at $3,181,000. Operating cash flow equaled -$4,800,000 and free cash flow equaled -$7,374,000, with free cash flow yield at -0.39% and free cash conversion metrics signaling cash absorption this period.
Balance sheet and leverage: Cash and short-term investments total $77,646,000 with cash of $40,412,000 and current ratio of 2.30, supporting near-term liquidity. Total debt equals $358,211,000 producing net debt of $296,294,000 and a debt-to-EBITDA ratio near 112.6x, indicating elevated leverage relative to operating earnings and sensitivity to profit recovery.
Unit economics and margins vs peers: Gross margin at 58.56% registers below the industry peer mean of 71.76% and median of 67.63%, while asset turnover stands at 0.1505 (slightly above an industry peer mean of 0.1285). Return metrics remain negative: return on assets -1.19% and return on equity -2.69%.
Valuation: WMDST values the stock as over-valued. Key multiples include a trailing P/E of 102.93 and a forward P/E of 64.38; price-to-book sits near 5.05 versus an industry peer mean of 8.14, and price-to-sales at 14.85 versus an industry peer mean of 36.55. The enterprise-value-to-revenue and enterprise multiple metrics in the dataset also reflect a premium structure relative to revenue and earnings.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-29 |
| NEXT REPORT DATE: | 2026-07-29 |
| CASH FLOW | Begin Period Cash Flow | $ 63.5 M |
| Operating Cash Flow | $ -4.80 M | |
| Capital Expenditures | $ -2.57 M | |
| Change In Working Capital | $ -21.07 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -23.05 M | |
| End Period Cash Flow | $ 40.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 126.1 M | |
| Forward Revenue | $ -95.84 M | |
| COSTS | ||
| Cost Of Revenue | $ 52.3 M | |
| Depreciation | $ 6.4 M | |
| Depreciation and Amortization | $ 8.1 M | |
| Research and Development | $ 31.0 M | |
| Total Operating Expenses | $ 131.8 M | |
| PROFITABILITY | ||
| Gross Profit | $ 73.9 M | |
| EBITDA | $ 3.2 M | |
| EBIT | $ -4.94 M | |
| Operating Income | $ -5.71 M | |
| Interest Income | $ 762.0 K | |
| Interest Expense | $ 2.3 M | |
| Net Interest Income | $ -1.50 M | |
| Income Before Tax | $ -7.21 M | |
| Tax Provision | $ 2.8 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -9.96 M | |
| Net Income From Continuing Operations | $ -9.96 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.18 | |
| EPS Actual | $ 0.17 | |
| EPS Difference | $ -0.01 | |
| EPS Surprise | -5.556 % | |
| Forward EPS | $ 0.28 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 829.3 M | |
| Intangible Assets | $ 555.7 M | |
| Net Tangible Assets | $ -185.07 M | |
| Total Current Assets | $ 169.5 M | |
| Cash and Short-Term Investments | $ 77.6 M | |
| Cash | $ 40.4 M | |
| Net Receivables | $ 44.3 M | |
| Inventory | — | |
| Long-Term Investments | $ 10.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 4.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 73.8 M | |
| Net Debt | $ 296.3 M | |
| Total Debt | $ 358.2 M | |
| Total Liabilities | $ 458.7 M | |
| EQUITY | ||
| Total Equity | $ 370.7 M | |
| Retained Earnings | $ -533.82 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.46 | |
| Shares Outstanding | 107.019 M | |
| Revenue Per-Share | $ 1.18 | |
| VALUATION | Market Capitalization | $ 1.9 B |
| Enterprise Value | $ 2.2 B | |
| Enterprise Multiple | 676.888 | |
| Enterprise Multiple QoQ | -121.704 % | |
| Enterprise Multiple YoY | -329.227 % | |
| Enterprise Multiple IPRWA | ALKT: 676.888 high: 455.999 mean: 91.993 median: 60.198 low: -324.707 |
|
| EV/R | 17.07 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.237 | |
| Asset To Liability | 1.808 | |
| Debt To Capital | 0.491 | |
| Debt To Assets | 0.432 | |
| Debt To Assets QoQ | -0.708 % | |
| Debt To Assets YoY | -12.489 % | |
| Debt To Assets IPRWA | high: 0.882 ALKT: 0.432 mean: 0.158 median: 0.082 low: 0.001 |
|
| Debt To Equity | 0.966 | |
| Debt To Equity QoQ | -5.06 % | |
| Debt To Equity YoY | -21.869 % | |
| Debt To Equity IPRWA | high: 2.247 ALKT: 0.966 mean: 0.25 median: 0.137 low: -1.157 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.052 | |
| Price To Book QoQ | -13.57 % | |
| Price To Book YoY | -41.642 % | |
| Price To Book IPRWA | high: 18.357 mean: 8.14 median: 7.357 ALKT: 5.052 low: -12.497 |
|
| Price To Earnings (P/E) | 102.929 | |
| Price To Earnings QoQ | -53.557 % | |
| Price To Earnings YoY | -78.0 % | |
| Price To Earnings IPRWA | high: 392.443 mean: 104.22 ALKT: 102.929 median: 96.098 low: -222.082 |
|
| PE/G Ratio | 1.158 | |
| Price To Sales (P/S) | 14.846 | |
| Price To Sales QoQ | -15.267 % | |
| Price To Sales YoY | -49.776 % | |
| Price To Sales IPRWA | high: 85.311 median: 36.777 mean: 36.549 ALKT: 14.846 low: 0.499 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 64.384 | |
| Forward PE/G | 0.724 | |
| Forward P/S | -19.474 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -9.639 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.15 | |
| Asset Turnover Ratio QoQ | 4.791 % | |
| Asset Turnover Ratio YoY | -1.993 % | |
| Asset Turnover Ratio IPRWA | high: 0.444 ALKT: 0.15 mean: 0.128 median: 0.122 low: 0.0 |
|
| Receivables Turnover | 2.852 | |
| Receivables Turnover Ratio QoQ | 4.029 % | |
| Receivables Turnover Ratio YoY | 0.713 % | |
| Receivables Turnover Ratio IPRWA | high: 5.779 ALKT: 2.852 mean: 1.476 median: 1.422 low: 0.049 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 31.992 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 93.892 ALKT: 0 mean: -46.76 median: -63.272 low: -113.017 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.317 | |
| CapEx To Revenue | -0.02 | |
| CapEx To Depreciation | -0.401 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 707.4 M | |
| Net Invested Capital | $ 707.4 M | |
| Invested Capital | $ 707.4 M | |
| Net Tangible Assets | $ -185.07 M | |
| Net Working Capital | $ 95.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.053 | |
| Current Ratio | 2.298 | |
| Current Ratio QoQ | 9.938 % | |
| Current Ratio YoY | -16.522 % | |
| Current Ratio IPRWA | high: 8.529 ALKT: 2.298 mean: 1.773 median: 1.283 low: 0.085 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 112.61 | |
| Cost Of Debt | 0.533 % | |
| Interest Coverage Ratio | -2.18 | |
| Interest Coverage Ratio QoQ | -36.297 % | |
| Interest Coverage Ratio YoY | -87.787 % | |
| Interest Coverage Ratio IPRWA | high: 200.8 median: 51.566 mean: 34.879 ALKT: -2.18 low: -179.73 |
|
| Operating Cash Flow Ratio | -0.052 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 8.718 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.111 % | |
| Revenue Growth | 4.427 % | |
| Revenue Growth QoQ | -36.192 % | |
| Revenue Growth YoY | -51.474 % | |
| Revenue Growth IPRWA | high: 26.52 % ALKT: 4.427 % mean: 4.114 % median: 1.985 % low: -29.126 % |
|
| Earnings Growth | 88.889 % | |
| Earnings Growth QoQ | -388.891 % | |
| Earnings Growth YoY | -295.554 % | |
| Earnings Growth IPRWA | high: 200.0 % ALKT: 88.889 % mean: 5.239 % median: 3.14 % low: -160.0 % |
|
| MARGINS | ||
| Gross Margin | 58.562 % | |
| Gross Margin QoQ | 2.401 % | |
| Gross Margin YoY | -0.806 % | |
| Gross Margin IPRWA | high: 92.309 % mean: 71.756 % median: 67.633 % ALKT: 58.562 % low: 17.339 % |
|
| EBIT Margin | -3.919 % | |
| EBIT Margin QoQ | -45.097 % | |
| EBIT Margin YoY | -73.187 % | |
| EBIT Margin IPRWA | high: 98.427 % median: 48.401 % mean: 38.807 % ALKT: -3.919 % low: -155.928 % |
|
| Return On Sales (ROS) | -4.523 % | |
| Return On Sales QoQ | -40.424 % | |
| Return On Sales YoY | -69.054 % | |
| Return On Sales IPRWA | high: 78.153 % median: 46.326 % mean: 36.964 % ALKT: -4.523 % low: -140.43 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -7.37 M | |
| Free Cash Flow Yield | -0.394 % | |
| Free Cash Flow Yield QoQ | -158.198 % | |
| Free Cash Flow Yield YoY | 49.81 % | |
| Free Cash Flow Yield IPRWA | high: 6.823 % median: 0.518 % mean: 0.386 % ALKT: -0.394 % low: -13.691 % |
|
| Free Cash Growth | -151.466 % | |
| Free Cash Growth QoQ | 204.748 % | |
| Free Cash Growth YoY | -45.237 % | |
| Free Cash Growth IPRWA | high: 233.063 % median: 168.667 % mean: 108.151 % ALKT: -151.466 % low: -262.02 % |
|
| Free Cash To Net Income | 0.74 | |
| Cash Flow Margin | -3.025 % | |
| Cash Flow To Earnings | 0.383 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.189 % | |
| Return On Assets QoQ | -12.574 % | |
| Return On Assets YoY | -3.097 % | |
| Return On Assets IPRWA | high: 16.11 % median: 4.675 % mean: 3.993 % ALKT: -1.189 % low: -21.642 % |
|
| Return On Capital Employed (ROCE) | -0.654 % | |
| Return On Equity (ROE) | -0.027 | |
| Return On Equity QoQ | -14.937 % | |
| Return On Equity YoY | 14.872 % | |
| Return On Equity IPRWA | high: 0.245 median: 0.077 mean: 0.064 ALKT: -0.027 low: -0.411 |
|
| DuPont ROE | -2.719 % | |
| Return On Invested Capital (ROIC) | -0.419 % | |
| Return On Invested Capital QoQ | -56.126 % | |
| Return On Invested Capital YoY | -64.401 % | |
| Return On Invested Capital IPRWA | high: 14.663 % median: 7.128 % mean: 5.659 % ALKT: -0.419 % low: -11.709 % |
|