Slide 1: Alkami Technology Fourth Quarter 2025
Alkami Technology Fourth Quarter 2025 Alkami Technology, Inc. Proprietary Information.
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements 2 This presentation contains “forward-looking” statements relating to Alkami Technology, Inc.’s strategy, goals, future focus areas, and expected, possible or assumed future results, including its future cash flows and its financial outlook.
Slide 3: Alkami Technology, Inc. Financial Institutions: Who We Are
3 Alkami Technology, Inc. Financial Institutions Who We Are • Cloud-based digital banking platform serving U.S. financial institutions What We Do • Empower FIs to grow, drive user engagement and improve © Alkami Technology, Inc. operational efficiency • Leverage broad product set enabling retail and
Slide 4: Alkami's Addressable Market: User Characteristics
Alkami’s Addressable Market: User Characteristics 4 250M+ digital users, excluding megabanks Legacy Providers: 210M+ Historical User Growth: 5-8% Total market digital users growing 5-8% historically, driven by: © Alkami Technology, Inc. ● Increasing number of accounts per customer ● Ease of new acco
Slide 5: Large, Fast-Growing Addressable Market
Large, Fast-Growing Addressable Market 5 Approximately $14 billion TAM Alkami Today 250M digital users x $35 RPU Core Platform Existing client digital penetration of <80% expected to converge to near 100% © Alkami Technology, Inc. ACH Fraud Prevention - Acquired in 2020 Alert Segmint Managed Marketi
Slide 6: Go-To-Market Cadence
Go-To-Market Cadence 6 Highly targeted annual renewal class allows us to focus sales resources Over 9,000 FIs in the United © Alkami Technology, Inc. 9,000+ States • Sales team drives outbound FIs lead generation, cross selling v and account management • Client success team supports 2,500 We focus o
Slide 7: Alkami Digital Sales & Service Platform
Alkami Digital Sales & Service Platform 7 Digital Banking Unify digital banking by connecting user experience, sales and service on a configurable platform. © Alkami Technology, Inc. Confidential Onboarding & Account Opening Data & Marketing Drive consumer and commercial Power acquisition and engage
Slide 8: Multiple Levers Driving Growth
Multiple Levers Driving Growth 8 ● Clients driven by new logo wins, historically among credit unions with a © Alkami Technology, Inc. growing presence among banks ● Registered users grow as we add new logos and as clients add users ● RPU driven by product penetration at initial sale and add-on sales
Slide 9: Alkami's Digital Sales & Service Platform
Alkami’s Digital Sales & Service Platform 9 Onboarding & Admin, Risk & Account Opening Reporting Business & © Alkami Technology, Inc. Marketing Commercial Banking Data Insights Retail Banking Account Management Financial Analytics Payments & Receivables Extensibility Guard Sales Service
Slide 10: MANTL Acquisition Positions Alkami as Premier Digital Banking Provider
MANTL Acquisition Positions Alkami as Premier Digital 10 Banking Provider Expands Market Positions Alkami as a leader with Digital Sales & Service Platform Position Unlocks and expands TAM © Alkami Technology, Inc. Stimulates Onboard + Engage + Grow strategy drives competitive advantage GTM Strategy
Slide 11: MANTL Extends Alkami's Product and Customer Footprint
MANTL Extends Alkami’s Product and Customer Footprint 11 Sales Channel Service Channel Clients Data Card Commercial Credit Marketing Banks Insights Management Services Unions Card Money Billing & Financial FinTech Experience Movement Receivables Wellness Partners © Alkami Technology, Inc. Retail Bus
Slide 12: Alkami + MANTL | One System
Alkami + MANTL | One System 12 SSO Integration One System Solution 1: Nail the First Impression Pain Point 1: ● Frictionless registration: New customers automatically registered and logged into OMB experience ● Instant activation: Immediate account use with digital card issuance and seamless integra
Slide 13: How We Achieve Our Long-term Objectives
How We Achieve Our Long-term Objectives 13 Market Leadership Drive Add-On Sales © Alkami Technology, Inc. Maintain Strong Credit Scale and Continued Union Position Cost Discipline Grow Bank Continuous Product Mindshare and and Platform Capabilities Improvement
Slide 14: Financial Overview
Financial Overview Alkami Technology, Inc. Proprietary Information.
Slide 15: Q4 2025 Financial Performance
Q4 2025 Financial Performance 15 $M ● Q4’25 revenue growth of 34.7% driven by MANTL acquisition, new clients, existing client user growth and ARPU © Alkami Technology, Inc. growth ● GM expansion consistent with plan to increase GM 200-300 bps per year through 2026 ● Adjusted EBITDA expansion driven
Slide 16: Operating and Financial Highlights
Operating and Financial Highlights 16 Digital Banking Clients Registered Users ● Signed 16 new digital banking platform clients in Q4 ● Implemented 11 clients in Q4, bringing digital platform 272 301 20.0M 22.4M client count to 301 Q4 2024 Q4 2025 Q4 2024 Q4 2025 ● 42 new clients in implementation b
Slide 17: Strong Historical Revenue Growth
Strong Historical Revenue Growth 17 $M © Alkami Technology, Inc.
Slide 18: Technology Demand and Product Expansion Drive ARR
Technology Demand and Product Expansion Drive ARR 18 Cohort ARR Expansion Via User Growth and Cross-Sell Success ARR Expansion Drivers © Alkami Technology, Inc. ● Long-term contracts ● Escalating contract minimums ● Gross client retention ● Growth in digital user adoption ● Product cross-sell As of
Slide 19: Gross Margin Expansion Driven by Scale and Efficiency
Gross Margin Expansion Driven by Scale and Efficiency 19 $M © Alkami Technology, Inc.
Slide 20: Best-in-Class GTM Efficiency
Best-in-Class GTM Efficiency 20 ● Long-term contract structure reduces annual GTM motion ● Alkami models annual client retention of © Alkami Technology, Inc. 97% - 98% ● 2026E reflects continued growth in S&M spend related to bank market expansion and increased product depth ● Historical high sales
Slide 21: Financial Guidance and Long-Term Profile
Financial Guidance and Long-Term Profile 21 2026 Guidance 2030 Financial Framework ● Gross margin approaching 70% in 2030 © Alkami Technology, Inc. ● Adjusted EBITDA margin expansion of approximately 300 basis points annually from 2026 to 2030 ● Rule of 45 in 2030 $ millions; 2026E reflects midpoint
Slide 22: Selected Historical Data
Selected Historical Data 22 2022 2023 2024 2025 Digital banking platform clients 199 236 272 301 Growth % 19% 15% 11% © Alkami Technology, Inc. Digital banking platform users (M) 14.5 17.5 20.0 22.4 Growth % 20% 14% 12% Live ARR ($M) $ 226.1 $ 291.0 $ 355.9 $ 480.3 Growth % 29% 22% 35% RPU $ 15.55 $
Slide 23: Non-GAAP Reconciliations
Non-GAAP Reconciliations 23 ($000s) © Alkami Technology, Inc.
Slide 24: Non-GAAP Reconciliations
Non-GAAP Reconciliations 24 ($000s) © Alkami Technology, Inc.
Slide 25: Non-GAAP Reconciliations
Non-GAAP Reconciliations 25 ($000s) © Alkami Technology, Inc.