ALKAMI TECHNOLOGY, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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Consolidated Statements of Operations
(in thousands, except share and per share data)
| Year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenues | $443,639 | $333,849 | $264,831 |
| Cost of revenues(1)(2) | 187,040 | 137,219 | 120,720 |
| Gross profit | 256,599 | 196,630 | 144,111 |
| Operating expenses: | |||
| Research and development | 118,396 | 96,211 | 84,661 |
| Sales and marketing | 80,141 | 59,765 | 48,557 |
| General and administrative | 100,892 | 83,650 | 72,900 |
| Acquisition-related expenses | 3,463 | 195 | 263 |
| Amortization of acquired intangibles | 5,688 | 1,435 | 1,435 |
| Loss on impairment of intangible assets | 1,655 | — | — |
| Total operating expenses | 310,235 | 241,256 | 207,816 |
| Loss from operations | (53,636) | (44,626) | (63,705) |
| Non-operating income (expense): | |||
| Interest income | 4,160 | 4,560 | 8,095 |
| Interest expense | (9,486) | (461) | (7,384) |
| Gain on financial instruments | — | — | 534 |
| Loss on extinguishment of debt | — | — | (409) |
| Loss before income taxes | (58,962) | (40,527) | (62,869) |
| (Benefit from) provision for income taxes | (11,310) | 308 | 44 |
| Net loss | $(47,652) | $(40,835) | $(62,913) |
| Net loss per share attributable to common stockholders: | |||
| Basic and diluted | $(0.46) | $(0.41) | $(0.67) |
| Weighted average number of shares of common stock outstanding: | |||
| Basic and diluted | 103,895,195 | 98,892,692 | 94,080,797 |
(1) Includes amortization of acquired technology of $16.6 million, $5.4 million, and $5.4 million for the years ended December 31, 2025, 2024, and 2023, respectively.
(2) Includes fees paid to a related party of $6.2 million for the year ended December 31, 2023. See Note 17.
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