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Investing.com -- Alkami Technology , Inc. (NASDAQ:ALKT), a cloud-based digital banking solutions provider, reported second quarter earnings that missed analyst expectations despite revenue growth, sending shares down 5.4% as the company’s forward guidance fell short of Wall Street estimates.
The company reported a second quarter loss of -$0.13 per share, significantly below the analyst estimate of $0.08 per share. Revenue came in at $112.1 million, exceeding the consensus estimate of $110.02 million and representing a 36.4% increase YoY.
For the third quarter, Alkami provided revenue guidance of $112.5-114.0 million, below the consensus estimate of $116 million. The company also issued full-year 2025 revenue guidance of $443.0-447.0 million.
"We are very pleased to report strong financial performance for the second quarter, with revenue growth of 36% and Adjusted EBITDA of $12 million," said Alex Shootman, Chief Executive Officer. "We exited the second quarter with 20.9 million users on the Alkami platform, up 2.3 million compared to the year-ago quarter."
The company reported adjusted EBITDA of $11.9 million for the quarter, compared to $4.6 million in the year-ago quarter. Non-GAAP gross margin improved to 65.1%, up from 63.2% in the same period last year.
Bryan Hill, Chief Financial Officer, noted, "We exited the second quarter with annual recurring revenue of $424 million, up 32%, and revenue per registered user of $20.28, up 17% compared to the year-ago quarter."
Despite the revenue beat, investors appeared focused on the earnings miss and lower-than-expected guidance, which contributed to the stock’s decline following the announcement.
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