Alkami Technology (ALKT) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NasdaqGS•Technology•Software - Application

AverageMetricSide Score: 51/100

ProfitabilityProfit6/25

GrowthGrowth16/25

Balance Sheet & Red FlagsBalance14/25

Cash & Earnings QualityCash15/25

Strongest: Growth (16/25); weakest: Profitability (6/25).

Price & Volume

Market Cap $1.94B

Alkami Technology, Inc. provides a cloud-based digital sales and service platform for financial institutions in the United States. The company offers the Alkami digital sales & service platform, which includes the Alkami digital banking platform, onboarding & account opening, and data & marketing modules. Its solutions enable financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of proprietary, cloud-based, and multi-tenant architecture. It serves community, regional, super-regional credit unions, and banks. The company was founded in 2009 and is based in Plano, Texas.

Moat Signals

Competitive analysis based on 22 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging -10.2%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Risk Signals

Data-driven red flags and warnings across 22 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.8x) — earnings may be inflated by non-cash items or aggressive accounting.

Leverage Risk

Healthy

D/E ratio is 0.9 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Share Dilution

Red Flag

Shares outstanding increased 7.5% — significant dilution, likely from stock compensation or capital raises.

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $489.73M
Q. Revenue: $129.84M
TTM EBITDA: $-3.65M
TTM Op. Income: $-35.79M
Q. Op. Income: $-7.71M
TTM Net Income: $-45.11M
Q. Net Income: $-8.90M
EPS: $-0.08
Shares Out.: $106.86M

$489.73M in TTM revenue grew 27.1% YoY, reaching $129.84M last quarter. TTM EBITDA of $-3.65M and TTM operating income of $-35.79M shows growth is flowing through. However, net income is negative at $45.11M — growth is not yet reaching the bottom line. Revenue is growing at a healthy pace — a signal to hold. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — a improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 56.8%
EBITDA Margin: 0.5%
Op. Margin: -5.9%
Net Margin: -6.9%

Op. margin of -5.9% is up 8.2% YoY — cost efficiency is improving. Net margin at -6.9% and gross margin of 56.8% — earnings take a bigger bite when COGS stays lean.. Over the past year, Operating margin is up 58% — a deteriorating trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 4.0x
P/B Ratio: 5.4x

P/S of 4.0x and P/B of 5.4x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $831.08M
Cash: $45.51M
Long-Term Debt: $337.20M
Book Value: $362.68M
D/E Ratio: 0.9
Debt/EBITDA: 575.4

With $831.08M in assets and $337.20M in long-term debt, the D/E of 0.9and book value of $362.68M — shows a conservative capital structure — the company has a strong financial cushion to weather downturns. Over the past year, Debt/equity is down 5% — a deteriorating trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $22.02M
TTM Free Cash Flow: $63.20M
FCF Margin: 12.9%
FCF / Net Income: -1.4

TTM FCF of $63.20M on $22.02M in operating cash flow. The FCF / Net Income ratio of -1.4x shows cash consumption — the business is not yet self-funding. Across the last 8 quarters, Free cash flow has risen for 5 consecutive quarters — a improving trend.