Bryan is the Chief Financial Officer at Alkami. He brings over 25 years of accounting and finance experience at public and privately held companies to Alkami’s finance division. Bryan comes to Alkami from RealPage where he spent 12 years in the roles of Chief Financial Officer and Senior Vice President of Finance and made significant contributions to the business in the areas of financial disciplines and controls, operating efficiency, capital raising initiatives, and acquisitions.
PLANO, Texas, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced results for its third quarter ending September 30, 2023. Third Quarter 2023 Financial Highlights GAAP total revenue of $67.7 million, an increase of 27% compared to the year-ago quarter;GAAP gross margin of 54.0%, compared to 51.6% in the year-ago quarter;Non-GAAP gross margin of 58.7%,
We exited the quarter with 16.9 million digital banking users on the Alkami platform, up 23% from the year-ago quarter. We now have 35 new clients and significant add-on sales orders in implementation, representing a total of $42 million in Annual Recurring Revenue. We exited the quarter with Annual Recurring Revenue of $275 million, up 29% compared to the year-ago quarter. Our revenue per digital user continued to expand, ending the quarter at $16.28, driven by add-on sales and the addition of new clients who tend to onboard at a higher average RPU.