ALKAMI TECHNOLOGY INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(40,835) | $(62,913) | $(58,600) |
| Adjustments to reconcile net loss to net cash provide by (used in) operating activities: | |||
| Depreciation and amortization expense | 10,508 | 10,631 | 8,075 |
| Accrued interest on marketable securities, net | (1,075) | (3,231) | (369) |
| Stock-based compensation expense | 59,437 | 51,231 | 44,592 |
| Amortization of debt issuance costs | 210 | 138 | 134 |
| Gain from revaluation of contingent consideration | — | — | (15,500) |
| (Gain) loss on financial instruments | — | (532) | 200 |
| Loss on extinguishment of debt | — | 409 | 18 |
| Gain on lease modification | — | (375) | — |
| Deferred taxes | 109 | (32) | (690) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (3,240) | (9,253) | (4,013) |
| Prepaid expenses and other assets | (3,972) | 425 | (3,194) |
| Accounts payable and accrued liabilities | 3,322 | 91 | (1,374) |
| Deferred costs | (8,603) | (7,720) | (7,846) |
| Deferred revenues | 2,736 | 3,629 | 522 |
| Net cash provided by (used in) operating activities | 18,597 | (17,502) | (38,045) |
| Cash flows from investing activities: | |||
| Purchase of marketable securities | (40,416) | (140,816) | (187,217) |
| Proceeds from sales, maturities, and redemptions of marketable securities | 71,312 | 181,019 | 99,750 |
| Purchases of property and equipment | (1,195) | (1,058) | (1,057) |
| Capitalized software development costs(1) | (6,660) | (5,234) | (3,388) |
| Acquisition of business, net of cash acquired | — | — | (131,839) |
| Net cash provided by (used in) investing activities | 23,041 | 33,911 | (223,751) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | — | — | 85,000 |
| Principal payments on debt | — | (85,000) | (24,688) |
| Payment of holdback funds from acquisition | — | (3,600) | (1,000) |
| Payments for taxes related to net settlement of equity awards | (12,820) | (15,985) | (2,665) |
| Proceeds from stock option exercises | 20,241 | 12,983 | 2,399 |
| Proceeds from ESPP issuance | 4,736 | 4,124 | 2,906 |
| Debt issuance costs paid | (363) | (341) | (773) |
| Net cash provided by (used in) financing activities | 11,794 | (87,819) | 61,179 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 53,432 | (71,410) | (200,617) |
| Cash and cash equivalents and restricted cash, beginning of period | 40,927 | 112,337 | 312,954 |
| Cash and cash equivalents and restricted cash, end of period | $94,359 | $40,927 | $112,337 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $283 | $7,056 | $3,612 |
| Cash paid for taxes (states)(2) | $375 | $332 | $249 |
(1)See Note 3 for additional information regarding noncash investing activities for the years ended December 31, 2024, 2023, and 2022 related to capitalized software development costs.
(2)In 2024, material jurisdictions that are equal or greater than 5% of the total cash paid for taxes (in thousands) included Connecticut ($44), Idaho ($50), Minnesota ($35), New York ($31), New York City ($49), Pennsylvania ($34), and Texas ($58).
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