ALKAMI TECHNOLOGY Reports Positive Fiscal Year 2023 Second Quarter Earnings Results
August 27, 2023
☀️Earnings Overview
On August 2, 2023, ALKAMI TECHNOLOGY ($NASDAQ:ALKT) released its fiscal year 2023 second quarter earnings results with total revenue of USD 65.8 million, a 30.1% increase from the same period in the previous year. Net income was reported at USD -17.8 million, indicating an improvement over the -20.2 million in the same quarter of the previous fiscal year.
Stock Price
The company opened at a price of $16.6 and closed at $16.2, representing a 3.5% decrease from its prior closing price of $16.7. The company also reported a decrease in operating expenses of 3%, indicating that it is successfully reducing costs to remain competitive in the market. Overall, ALKAMI TECHNOLOGY’s second quarter earnings report is an encouraging sign that the company is well-positioned to meet its financial goals for the year. With their current suite of products and services, the company is well-placed to capitalize on the growing demand for digital banking solutions and other cloud-based products. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Alkami Technology. More…
| Total Revenues | Net Income | Net Margin |
| 234.71 | -59.69 | -30.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Alkami Technology. More…
| Operations | Investing | Financing |
| -33.64 | 35.37 | -5.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Alkami Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 472.93 | 150.4 | 3.42 |
Key Ratios Snapshot
Some of the financial key ratios for Alkami Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 40.6% | – | -22.9% |
| FCF Margin | ROE | ROA |
| -16.4% | -10.3% | -7.1% |
Analysis
GoodWhale is conducting an analysis of ALKAMI TECHNOLOGY‘s fundamentals, and based on our Risk Rating, ALKAMI TECHNOLOGY is a high risk investment when considering the financial and business aspects. We have detected 3 risk warnings in its balance sheet, cashflow statement, and financial journal. If you’re interested in learning more about these risk warnings, we invite you to register on goodwhale.com. Once you do, you’ll be able to access our detailed report and gain a better understanding of ALKAMI TECHNOLOGY’s potential investment risk. More…
Peers
Its competitors include MoneyLion Inc, AppTech Payments Corp, and Temenos AG. Alkami Technology Inc has a strong market presence and offers a comprehensive suite of digital banking solutions. Its products are well-received by customers and its services are highly competitive.
– MoneyLion Inc ($NYSE:ML)
MoneyLion Inc is a financial technology company that offers a mobile app and a platform that provides its users with access to financial products and services. The company has a market cap of 252.47M as of 2022 and a return on equity of -14.08%. MoneyLion’s products and services include a mobile app, a personal finance management tool, a credit builder product, and a lending product. The company was founded in 2013 and is headquartered in New York, NY.
– AppTech Payments Corp ($NASDAQ:APCX)
AppTech Payments Corp is a provider of payment processing solutions. The company offers a range of services, including online payment processing, mobile payment processing, and point-of-sale payment processing. AppTech Payments Corp has a market cap of 13.55M as of 2022, a Return on Equity of -88.5%. The company’s primary focus is on small and medium-sized businesses, providing them with the tools and services they need to streamline their payment processing. AppTech Payments Corp is headquartered in Atlanta, Georgia.
– Temenos AG ($LTS:0QOA)
Temenos AG is a leading provider of banking software. The company has a market cap of 4.07B as of 2022 and a return on equity of 27.62%. Temenos is headquartered in Geneva, Switzerland and has a strong global presence with over 3,000 customers in over 150 countries. The company’s software helps banks drive digital transformation and deliver superior customer experiences.
Summary
ALKAMI TECHNOLOGY reported strong second-quarter fiscal year 2023 earnings results, with total revenue of USD 65.8 million, a 30.1% increase from the same period last year. Net income also improved from the previous fiscal year’s second quarter result of -20.2 million to -17.8 million. Despite this positive news, the stock price moved down the same day, signifying a cautious outlook from investors.
For those considering investing in ALKAMI TECHNOLOGY, due diligence is recommended in order to craft a sound investment strategy. Investors should pay close attention to the company’s future performance, financial health, and competitive position in the market before deciding on an investment decision.
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