Slide 1: Alkami Technology First Quarter 2025
Alkami Technology, Inc. Proprietary Information. Alkami Technology First Quarter 2025
Slide 2: Forward-looking statements
2 © A lk am i T ec h n o lo gy , I n c. 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. These forward-lookin
Slide 3: Who We Are
3 © A lk am i T ec h n o lo gy , I n c. 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 operational efficiency • Leverage broad product set enabling retail and commercial banking How We Do It •
Slide 4: U.S. Digital Banking User Distribution
4 © A lk am i T ec h n o lo gy , I n c. U.S. Digital Banking User Distribution Users in millions by asset range, including megabanks Source: FI Navigator, December 2023
Slide 5: Alkami's Addressable Market: User Characteristics
5 © A lk am i T ec h n o lo gy , I n c. Alkami’s Addressable Market: User Characteristics 250M+ digital users, excluding megabanks Total market digital users growing 5-8% historically, driven by: ● Increasing number of accounts per customer ● Ease of new account opening via digital tools ● Demograph
Slide 6: Go-To-Market Cadence
6 © A lk am i T ec h n o lo gy , I n c. Go-To-Market Cadence We focus on the top 2,500 FIs excluding the megabanks Industry average contract length is 5 years, translating to approximately 500 contracts up for renewal annually 500 Annual Renewals 2,500 Target Clients v 9,000+ FIs Over 9,000 FIs in t
Slide 7: Alkami's Addressable Market: $14 billion TAM
7 © A lk am i T ec h n o lo gy , I n c. Alkami’s Addressable Market Growing, healthy $14 billion TAM Total Addressable Market • 250M digital users x $58 ARPU • Digital users growing 5% to 8% annually • 30+ products today vs. 9 in 2015 Digital Banking Platform • 250M digital users x $35 ARPU • Existi
Slide 8: Combination Expected to Position Alkami as Premier Digital Banking Provider
8 © A lk am i T ec h n o lo gy , I n c. Combination Expected to Position Alkami as Premier Digital Banking Provider Expands Market Position Expected to position Alkami as a leader in digital sales and service platform Unlocks and expands TAM Onboard + Engage + Grow strategy drives competitive advant
Slide 9: MANTL Extends Alkami's Product and Customer Footprint
9 © A lk am i T ec h n o lo gy , I n c. Partner Ecosystem Data & Marketing Security & Fraud Billing & Receivables Financial Wellness Card Management Commercial Services MANTL Extends Alkami’s Product and Customer Footprint Sales Channel Retail Account Opening Business Account Opening Customer LOS Bu
Slide 10: Multiple Levers Driving Growth
10 © A lk am i T ec h n o lo gy , I n c. Multiple Levers Driving Growth ● Clients driven by new logo wins, historically among credit unions, with a 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 an
Slide 11: Alkami Digital Sales & Service Platform
11 © A lk am i T ec h n o lo gy , I n c. C o n fi d en ti al Alkami Digital Sales & Service Platform Digital Banking Engage users with an intuitive experience that simplifies self service Data & Marketing Leverage data from digital banking and core to target relevant products and services Onboarding
Slide 12: Alkami's Digital Sales & Service Platform
12 © A lk am i T ec h n o lo gy , I n c. Alkami’s Digital Sales & Service Platform Onboard Engage Grow Guard Sales Service Digital Account Opening Marketing Data Insights Card Experience Customer Service Business Banking Financial Wellness Security & Fraud Protection Money Movement Extensibility Com
Slide 13: Product Strategy
13 © A lk am i T ec h n o lo gy , I n c. Product Strategy ● Lead with UX ● Deepen integrations with cores & third party systems ● Hyperfocus on Commercial Banking & DAO ● Data Integrity ● Integrating Flux, Segmint and Digital Banking further ● Monetizing data ● Streamlined, trackable and performant
Slide 14: How We Achieve Our Long-term Objectives
14 © A lk am i T ec h n o lo gy , I n c. How We Achieve Our Long-term Objectives Market Leadership Maintain Strong Credit Union Position Grow Bank Mindshare and Capabilities Drive Add-On Sales Scale and Continued Cost Discipline Continuous Product and Platform Improvement
Slide 15: Financial Overview
Alkami Technology, Inc. Proprietary Information. Financial Overview
Slide 16: Q1 2025 Financial Performance
16 © A lk am i T ec h n o lo gy , I n c. Q1 2025 Financial Performance $M ● Q1’25 revenue growth of 28.5% driven by new clients, existing client user growth and ARPU growth ● GM expansion consistent with our plan to increase GM 200-300 bps per year through 2026 ● Adjusted EBITDA expansion driven by
Slide 17: Operating and Financial Highlights Q1 2025
17 © A lk am i T ec h n o lo gy , I n c. Operating and Financial Highlights Q1 2025 $404M ARR Subscription Revenue Mix as of 3/31/25 95% Subscription Revenue 12/31/24 113% Net Dollar Retention Remaining Performance Obligation as of 3/31/25 $1.6B RPO Digital Banking Clients 278 Q1 2025 244 Q1 2024 Re
Slide 18: Client Base Expansion
18 © A lk am i T ec h n o lo gy , I n c. Client Base Expansion 2020 151 177 199 236 37 57 67 89 2021 2022 2023 ARR growth driven by larger new logos and increased product penetration 272 104 2024 Total Digital Banking Platform Clients Clients with ARR > $1M
Slide 19: Technology Demand and Product Expansion Drive ARR Cohort
19 © A lk am i T ec h n o lo gy , I n c. Technology Demand and Product Expansion Drive ARR Cohort ARR Expansion Via User Growth and Cross-Sell Success ARR Expansion Drivers ● Long-term contracts ● Escalating contract minimums ● Gross client retention ● Growth in digital user adoption ● Product cross
Slide 20: Land and Expand Strategy Drives Same-Client Growth
20 © A lk am i T ec h n o lo gy , I n c. Land and Expand Strategy Drives Same-Client Growth ARR $M at go-live and current
Slide 21: Strong Historical Revenue Growth
21 © A lk am i T ec h n o lo gy , I n c. Strong Historical Revenue Growth $M Note: Q1’25 includes MANTL revenue of $1.4 million based on acquisition closing date of March 17, 2025
Slide 22: Gross Margin Expansion Driven by Scale and Efficiency
22 © A lk am i T ec h n o lo gy , I n c. Gross Margin Expansion Driven by Scale and Efficiency $M
Slide 23: Best-in-Class GTM Efficiency
23 © A lk am i T ec h n o lo gy , I n c. Best-in-Class GTM Efficiency ● Long-term contract structure reduces annual GTM motion ● Alkami models annual client retention of 97% - 98% ● 2026E reflects continued growth in S&M spend related to bank market expansion and increased product depth ● Historical
Slide 24: Clear Path to Manage Equity Dilution
24 © A lk am i T ec h n o lo gy , I n c. Clear Path to Manage Equity Dilution Using equity as a strategic element to drive executive and shareholder alignment Actively managing the use of equity compensation and the resulting SBC and shareholder dilution Key drivers include: ● Operating leverage ● C
Slide 25: 2025 Financial Guidance
25 © A lk am i T ec h n o lo gy , I n c. 2025 Financial Guidance ● Full year 2025 revenue guidance of $443 million to $447 million and Adj EBITDA guidance of $49.5 million to $52.5 million ● Second quarter 2025 revenue guidance of $109.0 million to $110.5 million, and adjusted EBITDA guidance of $9.
Slide 26: Attractive Long-Term Profile
26 © A lk am i T ec h n o lo gy , I n c. Attractive Long-Term Profile Expect margin improvement through scale, product mix and operational efficiency
Slide 27: Selected Historical Data
27 © A lk am i T ec h n o lo gy , I n c. Selected Historical Data 2021 2022 2023 2024 Q1’25 Digital banking platform clients 177 199 236 272 278 Growth % 12% 19% 15% 14% Digital banking platform users (M) 12.4 14.5 17.5 20.0 20.5 Growth % 18% 20% 14% 13% Live ARR ($M) $ 169.0 $ 226.1 $ 291.0 $ 355.9
Slide 28: Non-GAAP Reconciliations ($000s)
28 © A lk am i T ec h n o lo gy , I n c. Non-GAAP Reconciliations ($000s)
Slide 29: Non-GAAP Reconciliations ($000s)
29 © A lk am i T ec h n o lo gy , I n c. Non-GAAP Reconciliations ($000s)
Slide 30: Non-GAAP Reconciliations ($000s)
30 © A lk am i T ec h n o lo gy , I n c. Non-GAAP Reconciliations ($000s)