Abstract

Alkami Technology, Inc. will report quarterly results on February 25, 2026, Post Market; this preview consolidates the latest operating metrics, segment performance, and the most recent institutional commentary into a focused outlook for investors.

Market Forecast

Based on the most recent projections, Alkami Technology, Inc. is expected to deliver revenue of 120.32 million in the current quarter, reflecting 34.22% year-over-year growth, with adjusted EPS forecast at 0.14, indicating 68.68% year-over-year growth; EBIT is estimated at 15.74 million, up 96.63% year-over-year. While detailed margin guidance for the quarter is not provided, the company’s subscription-led model and cost scaling suggest operating leverage remains a supportive factor in the earnings setup.

The main business continues to be software-as-a-service subscription services, which accounted for 107.87 million last quarter and represented 95.50% of revenue; expansion in product modules and ongoing client implementations are the central highlights and forward-looking drivers. The most promising segment remains the subscription platform itself at 107.87 million last quarter; with company-wide revenue rising 31.49% year-over-year in the latest reported quarter, the trajectory for this segment’s growth is expected to trend in line with the overall revenue momentum.

Last Quarter Review

Alkami Technology, Inc. reported revenue of 112.95 million in the previous quarter, up 31.49% year-over-year, with a gross profit margin of 56.79%, a GAAP net loss attributable to the parent company of -14.80 million, a net profit margin of -13.11%, and adjusted EPS of 0.13, which increased 62.50% year-over-year.

A notable financial highlight was EBIT of 15.56 million, an increase of 97.18% year-over-year, which surpassed the prior estimate and underscored operating scale benefits. In terms of business mix, software-as-a-service subscription revenue reached 107.87 million and comprised 95.50% of the quarter’s revenue, with implementation services contributing 3.51 million and other services 1.58 million, collectively underpinning the 31.49% year-over-year revenue growth.

Current Quarter Outlook (with major analytical insights)

Core Subscription Platform

The subscription platform remains the core revenue engine, and incoming quarter expectations point to 120.32 million of revenue with year-over-year growth of 34.22%. This estimate is consistent with the company’s demonstrated ability to convert booked implementations into live subscription revenue and to expand existing client footprints through additional modules. With subscription accounting for 95.50% of the prior quarter’s revenue, scale effects are likely to continue, especially as new client deployments move from implementation to recurring billing. The forecasted adjusted EPS of 0.14 and an EBIT estimate of 15.74 million, with year-over-year growth of 68.68% and 96.63% respectively, indicate that unit economics are benefiting from operational leverage. Operating leverage on hosting, support, and R&D amortization tends to favor margin translation when top-line growth is in the 30%+ zone. While explicit gross margin guidance is not provided for the quarter, the previous quarter’s 56.79% gross margin forms a reasonable reference point for analyzing potential margin continuity subject to mix and scaling dynamics in the subscription base.

Implementation and Services

Implementation services and other services combined contributed 5.09 million last quarter, with implementation at 3.51 million and other services at 1.58 million. These categories are smaller in magnitude but strategically important, as they convert pipeline and signed contracts into live revenue streams and stabilize future subscription retention via effective onboarding. The timing of revenue recognition in implementation can introduce quarter-to-quarter variability, yet the directionality remains supportive for the subscription ramp when projects hit milestones and go live. A recent client development—Grow Financial Credit Union’s adoption of the Onboarding & Account Opening Solution—illustrates how non-subscription activities can catalyze subscription expansion by accelerating user acquisition and platform engagement. This kind of deployment typically boosts the likelihood of incremental module adoption and supports the revenue mix shift toward higher recurring revenue over time. As more clients broaden usage of onboarding, analytics, and engagement features, service activities contribute to overall platform stickiness, thereby reinforcing the forward revenue run rate.

Stock Price Drivers This Quarter

Three elements are poised to exert the greatest influence on the stock into and through the print: delivery against revenue and EPS forecasts, visibility on bookings and implementations transitioning to live subscription revenue, and management’s commentary on client wins and module cross-sell momentum. The consensus-style markers—revenue at 120.32 million (+34.22% year-over-year) and adjusted EPS at 0.14 (+68.68% year-over-year)—frame investor expectations and act as the immediate hurdle rate for the reaction. Beating or matching these levels, combined with evidence of sustained EBIT scaling (estimated 15.74 million, +96.63% year-over-year), would likely support positive sentiment. Beyond the headline numbers, investors will be sensitive to qualitative signals on demand durability and the pace at which implementations convert into subscription revenue. Updates on new deals like the Grow Financial Credit Union deployment and any commentary on expansion within existing accounts will be watched closely as confirmations of pipeline health. Additionally, clarity on churn, renewal pricing, and the uptake of modules such as onboarding and account opening may influence perceptions of the revenue trajectory and margin outlook, especially given the elevated growth rates implied by current-quarter estimates.

Analyst Opinions

Bullish vs bearish views among the most recent institutional commentaries collected within the current-year window skew toward the bullish side; based on the gathered items, the ratio of bullish to bearish opinions is 100% to 0%, so we present the bullish majority view. KeyBanc maintained an Overweight rating on Alkami Technology, Inc. while revising its price target to 25.00 on January 23, 2026, signaling continued positive stance despite recalibrated valuation assumptions. In conjunction, the latest roundup indicated an average rating of Buy with a mean price target of 31.89, reflecting supportive sentiment for the growth profile embedded in the near-term projections. From the perspective of incoming results, the bullish view rests on three pillars: sustained top-line expansion in the 30%+ range, improving earnings power evidenced by the estimated 68.68% year-over-year rise in adjusted EPS, and demonstrable client traction such as the Grow Financial Credit Union adoption of the Onboarding & Account Opening Solution. Analysts who remain constructive see margin leverage as increasingly apparent when subscription scale advances alongside controlled cost growth, aligning with the forecasted 96.63% year-over-year increase in EBIT. Additionally, the revenue contribution balance—where subscription revenue is already at 107.87 million and comprises 95.50% of the latest quarter’s mix—underpins visibility and reinforces confidence that implementations will continue to seed recurring revenue. The bullish argument acknowledges that valuation sensitivity can lead to target adjustments, yet positions the upcoming print as an opportunity to validate the trajectory indicated by revenue and EPS estimates. In short, the majority commentary anticipates that execution on bookings-to-live conversion, plus expansion within the installed base, will be sufficient to meet or exceed the guideposts embedded in current-quarter expectations.