Alkami Technology Inc trading resumes 09:3505/1305/13/21
Alkami Technology Inc trading halted, volatility trading pause 09:3005/1305/13/21
Alkami announces early lock-up release » 16:3205/1105/11/21
Alkami Technology announced a partial early lock-up release with respect to shares of Alkami's common stock, pursuant to the terms of certain lock-up agreements entered into by certain of Alkami's directors, officers, greater than 1% stockholders and other security holders with the underwriters of Alkami's initial public offering. Pursuant to the terms of the lock-up agreements, the restricted period will end with respect to either 15% or 25% of the shares subject to each lock-up agreement, depending on whether such lock-up agreement pertains to directors, officers, other members of senior management and investors, or to employees and individual consultants, provided that certain conditions related to the closing trading price of Alkami common stock must be met for the restricted period to end with respect to shares owned by directors, officers, other members of senior management and investors, which conditions have been satisfied. The company currently estimates that up to approximately 14.3M shares will become eligible for sale in the public market at the open of trading on May 14. In addition, pursuant to the terms of the lock-up agreements, the restricted period will end on the third trading day after the date of Alkami's earnings release for the quarterly period ending June 30 with respect to additional shares subject to each lock-up agreement, either 15% or 25% depending on whether such lock-up agreement pertains to directors, officers, other members of senior management and investors, or to employees and individual consultants.
Alkami sees FY21 revenue $144M-$148M, Adjusted EBITDA ($26.5M)-($23.5M) » 16:2905/1105/11/21
"Alkami is on strong…
"Alkami is on strong financial footing as we begin to execute our plan for 2021. We exited the quarter with nearly 10 million digital banking users on our platform, annual recurring revenue of $134 million and revenue per user of $13.40. We exceeded both our revenue and profitability objectives for the quarter as we march towards cash flow positive. Our financial plan for 2021 will focus on strategic investments in both our go-to-market and innovation areas of the business in order to accelerate the adoption of what we believe is the best-in-class digital banking platform for FIs," said CFO Bryan Hill.
Alkami sees Q2 revenue $34M-$35M, Adjusted EBITDA ($7.5M)-($6.5M) 16:2905/1105/11/21
Alkami reports Q1 revenue $33.3M vs. $23.2M a year ago » 16:2805/1105/11/21
Reports Q1 adjusted…
Reports Q1 adjusted EBITDA loss of ($6.1M), compared to a loss of ($9.1M) in the prior year quarter. Reports Annual Recurring Revenue, or ARR, of $133.8M, an increase of 39% year-over-year; registered users of 10.0M, an increase of 28% year-over-year; Revenue Per Registered User, or RPU, of $13.40, an increase of 9% year-over-year; and six client wins, including Liberty Bank, aggregating to over 215,000 digital banking users. Mike Hansen, CEO, said, "We completed a successful initial public offering during April while achieving strong year-over-year revenue growth of 43% during the first quarter. Our end market continues to be strong, particularly our target market of the top 2,000 Financial Institutions. We expect to leverage this strength as we continue to execute our growth strategy and we strive to be the gold standard in digital banking. During the quarter we also built off our recent innovation investments in the commercial banking space, and successfully signed our 10th bank."
Fly Intel: Top five analyst initiations » 09:5805/1005/10/21
HARP, RTX, TSP, ALKT, APP
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Harpoon Therapeutics (HARP) assumed with an Overweight at Piper Sandler. 2. Raytheon Technologies initiated with a Buy rating at Redburn. 3. TuSimple (TSP) initiated with an Outperform at RBC Capital, Baird, Morgan Stanley, Piper Sandler, initiated with a Market Perform at Cowen, initiated with a Buy at Citi, and Needham and initiated with an Overweight at JPMorgan. 4. Alkami (ALKT) initiated with a Buy at Needham and Citi, initiated with an Outperform at JMP Securities and William Blair, initiated with a Neutral at Goldman Sachs, initiated with an Equal Weight at Barclays, initiated with an Overweight at KeyBanc. 5. AppLovin (APP) initiated with a Buy at Truist, Citi, BofA and UBS, initiated with an Overweight at Morgan Stanley and JPMorgan, initiated with an Outperform at Credit Suisse and William Blair and initiated with a Hold at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Alkami initiated with a Buy at Needham » 07:2805/1005/10/21
Needham analyst Mayank…
Needham analyst Mayank Tandon initiated coverage of Alkami with a Buy rating and $50 price target. The analyst is positive on the company's "large" total addressable market and his view that the pandemic has accelerated the adoption of digital banking. Tandon adds that Alkami should be able to generate annual organic revenue growth of over 25% over the next several years, and he sees room for long-term margin leverage as the model scales.
Alkami initiated with an Outperform at William Blair » 07:1905/1005/10/21
William Blair analyst…
William Blair analyst Robert Napoli initiated coverage of Alkami with an Outperform rating an no price target. The company provides a cloud-based digital banking platform that helps financial institutions embrace digital transformation, Napoli tells investors in a research note. Alkami has expanded its total addressable market to an estimated $7B today, versus $3B in 2015, the analyst points out. He believes the growth of financial institution investment in digital and software-as-a-service solutions should be a positive for the company.
Alkami initiated with an Outperform at JMP Securities » 06:4405/1005/10/21
JMP Securities analyst…
JMP Securities analyst Patrick Walravens initiated coverage of Alkami with an Outperform rating and $50 price target. The stock represents a "solid" long-term opportunity given its pursuit of a large and growing addressable market estimated at about $7B, its "attractive" growth profile, and its "best-of-breed" technology with multi-tenant, single codebase continuous delivery platform powered by a cloud infrastructure, the analyst tells investors in a research note.