Alkami Technology reports $134.91M revenue

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For the quarterly period ended June September 30, 2026

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The number of shares of registrant s common stock outstanding as of June September 30, 2026 was 106,941,980 107,042,319 .

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Financial statements 261 changes

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Marketable securities 35,443 35,635

Intangibles, net 145,704 158,943

June September 30, December 31,

Cash and cash equivalents $ 45,512 50,320 $ 63,457

Marketable securities 34,908 35,635

Accounts receivable, net 56,718 61,510 51,494

Deferred costs, current 17,464 18,683 15,894

Prepaid expenses and other current assets 22,318 20,363 20,736

Total current assets 177,455 185,784 187,216

Property and equipment, net 28,567 28,750 26,652

Right-of-use assets 17,208 16,662 13,462

Deferred costs, net of current portion 48,651 50,667 47,430

Intangibles, net 139,084 158,943

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Total assets $ 831,081 $ 847,227

Other assets 10,092 10,834 10,120

Total assets $ 835,185 $ 847,227

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Accounts payable $ 12,330 $ 5,842

Accrued liabilities 35,176 47,359

Accounts payable $ 11,368 $ 5,842

Accrued liabilities 42,095 47,359

Deferred revenues, current portion 33,513 35,590 34,770

Lease liabilities, current portion 2,170 2,183 1,576

Total current liabilities 83,189 91,236 89,547

Deferred revenues, net of current portion 26,041 25,386 25,800

Deferred income taxes 2,940 2,853 2,625

Convertible senior notes, net 337,204 337,725 336,230

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Total liabilities 468,404 485,178

Accumulated deficit ( 542,716 ) ( 523,853 )

Lease liabilities, net of current portion 18,784 18,181 15,739

Other non-current liabilities 246 251 237

Total liabilities 475,632 485,178

Preferred stock, $ 0.001 par value, 10,000,000 shares authorized and 0 shares issued and outstanding as of June September 30, 2026 and December 31, 2025

Common stock, $ 0.001 par value, 500,000,000 shares authorized; and 106,941,980 107,042,319 and 106,101,875 shares issued and outstanding as of June September 30, 2026 and December 31, 2025, respectively

Additional paid-in capital 905,286 908,907 885,796

Accumulated deficit ( 549,461 ) ( 523,853 )

Total stockholders equity 362,677 359,553 362,049

Total liabilities and stockholders' equity $ 831,081 835,185 $ 847,227

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Six months ended June 30,

Revenues $ 129,844 $ 112,059 $ 255,982 $ 209,894

Three months ended June September 30,

Nine months ended September 30,

Revenues $ 134,911 $ 112,954 $ 390,893 $ 322,848

1 unchanged paragraph

Gross profit 73,813 65,618 147,682 123,378

Research and development 31,399 30,231 62,399 57,116

Sales and marketing 22,821 22,991 42,776 40,890

General and administrative 25,591 26,552 52,503 54,356

Amortization of acquired intangibles 1,707 1,707 3,414 2,275

Total operating expenses 81,518 81,481 161,092 154,637

Gross profit 77,579 64,142 225,261 187,520

Research and development 32,598 30,091 94,997 87,207

Sales and marketing 18,260 19,337 61,036 60,227

General and administrative 31,263 25,889 83,766 80,245

Amortization of acquired intangibles 1,706 1,706 5,120 3,981

Total operating expenses 83,827 77,023 244,919 231,660

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Interest income 684 1,164 1,446 2,260

Interest expense ( 2,091 ) ( 3,188 ) ( 4,358 ) ( 3,989 )

Loss before income taxes ( 9,112 ) ( 17,887 ) ( 16,322 ) ( 32,988 )

(Benefit from) provision for income taxes ( 212 ) ( 4,296 ) 2,541 ( 11,581 )

Net loss $ ( 8,900 ) $ ( 13,591 ) $ ( 18,863 ) $ ( 21,407 )

Interest income 628 1,026 2,074 3,286

Interest expense ( 2,092 ) ( 2,978 ) ( 6,450 ) ( 6,967 )

Loss before income taxes ( 7,712 ) ( 14,833 ) ( 24,034 ) ( 47,821 )

(Benefit from) provision for income taxes ( 967 ) ( 29 ) 1,574 ( 11,610 )

Net loss $ ( 6,745 ) $ ( 14,804 ) $ ( 25,608 ) $ ( 36,211 )

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Basic and diluted $ ( 0.08 ) $ ( 0.13 ) $ ( 0.18 ) $ ( 0.21 )

Basic and diluted $ ( 0.06 ) $ ( 0.14 ) $ ( 0.24 ) $ ( 0.35 )

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Basic and diluted 106,862,412 103,389,459 106,626,081 102,912,715 106,627,818 104,345,319 106,626,666 103,395,497 (1) Includes amortization of acquired technology of $ 4.9 million for both the three months ended June September 30, 2026 and 2025, and $ 9.8 14.7 million and $ 6.8 11.7 million for the six nine months ended June September 30, 2026 and 2025, respectively.

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Three months ended June September 30, 2026

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Balance March 31, 2026 107,019,174 $ 107 $ 904,363 $ ( 533,816 ) $ 370,654

Stock-based compensation 17,492 17,492

Common stock issued under Employee Stock Purchase Plan (ESPP) 219,125 3,094 3,094

Exercised stock options 47,134 367 367

Repurchases of common stock ( 884,575 ) ( 1 ) ( 14,999 ) ( 15,000 )

Net loss ( 8,900 ) ( 8,900 )

Balance June 30, 2026

Balance June 30, 2026 106,941,980 $ 107 $ 905,286 $ ( 542,716 ) $ 362,677

Stock-based compensation 19,406 19,406

Issuance of common stock upon restricted stock unit vesting 541,122 1 ( 1 ) 576,883

Exercised stock options 55,076 421 421

Payments for taxes related to net settlement of equity awards ( 5,030 6,206 ) ( 5,030 6,206 )

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and 181 more changes in the filing

Legal proceedings 32 changes

The Company may become party to various legal actions during the ordinary course of business. Defending such proceedings is costly and can impose a significant burden on management and employees, it the Company may receive unfavorable preliminary or interim rulings during litigation, and there can be no assurances that favorable final outcomes will be obtained. In addition, the Company s industry is characterized by the existence of a large number of patents, copyrights, trademarks, trade secrets and other intellectual property and proprietary rights. Companies in our industry are often required to defend against litigation claims based on allegations of infringement or other violations of intellectual property rights. Furthermore, client agreements typically require the Company to indemnify clients against liabilities incurred in connection with claims alleging its solutions infringe the intellectual property rights of a third party. From time to time, the Company has been involved in disputes related to patent and other intellectual property rights of third parties, none of which has resulted in material liabilities. The Company expects these types of disputes may continue to arise in the future. Based upon present information, the Company believes that its liability, if any, arising from such pending legal proceedings, asserted legal claims and known potential legal claims that are likely to be asserted, is not reasonably likely to be material to the Company s financial position, results of operations, or cash flows, taking into account established accruals for estimated liabilities.

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Six months ended June 30,

Three months ended June September 30,

Nine months ended September 30,

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Total lease expense $ 1,211 $ 1,022 $ 2,289 $ 1,869

Total lease expense $ 1,255 $ 941 $ 3,544 $ 2,810

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Six months ended June 30,

Nine months ended September 30,

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(1) For the six nine months ended June September 30, 2026, right-of-use assets obtained in exchange for operating lease obligations is related to the commencement of the Company s lease agreement in India.

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2026 (six months remaining) $ 1,920

(in thousands) June September 30, 2026

2026 (three months remaining) $ 959

Total minimum lease payments 27,385 26,362

Less: present value discount ( 6,431 5,998 )

Total lease liability balance $ 20,954 20,364

In September 2026, the Company entered into agreements to assign its remaining rights and obligations under the lease for its headquarters in Plano, Texas to a third party effective on July 1, 2027. In connection with the agreements, the Company has agreed to make incentive payments to the third party totaling approximately $ 4.0 million, due within 30 days after the assignment effective date. The assignment and the Company s payment obligation are contingent upon, among other things, the surrender of the premises on February 1, 2027, the landlord s release of the Company from obligations arising under the lease after the assignment effective date and the landlord s receipt of replacement security from the third party. Until the contingencies are resolved, the Company remains the primary obligor under the lease.

As of September 30, 2026, the Company continues to account for the lease, the related right-of-use asset and the related property and equipment (as disclosed in Note 3) under their existing terms, and no impairment has been identified related to the assignment. The Company will continue to monitor quarterly for impairment through the assignment effective date.

In September 2026, the Company incurred broker commissions of $ 2.1 million in connection with the assignment, which were included in general and administrative expenses for the three months ended September 30, 2026.

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Goodwill and intangible assets deemed to have an indefinite life are not amortized, but are reviewed annually for impairment of value or when indicators of a potential impairment are present. As part of the Company s business planning cycle, the Company performs an annual goodwill impairment test in the fourth quarter of the fiscal year. There were no indications of impairment of goodwill noted as of June September 30, 2026. Goodwill has a carrying value of $ 403.4 million as of both June September 30, 2026 and December 31, 2025.

Total intangible assets consisted of the following as of June September 30, 2026 and December 31, 2025:

As of September 30, 2026

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Customer Relationships $ 92,800 $ ( 12,407 ) $ 80,393

Developed Technology 99,200 ( 39,288 ) 59,912

Customer Relationships $ 92,800 $ ( 13,954 ) $ 78,846

Developed Technology 99,200 ( 44,201 ) 54,999

Tradenames 6,450 ( 1,076 1,236 ) 5,374 5,214

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Total intangible assets $ 198,475 $ ( 52,771 59,391 ) $ 145,704 139,084

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Amortization expense recognized on intangible assets was $ 6.6 6.7 million and $ 13.2 19.9 million for the three and six nine months ended June September 30, 2026, respectively, and $ 6.6 6.7 million and $ 9.0 15.7 million for the three and six nine months ended June September 30, 2025, respectively.

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2026 (six months remaining)

Note 15. Subsequent Event

In July 2026, the Company repurchased an additional 531,620 shares of its common stock under its authorized stock repurchase program for an aggregate consideration of $ 10.0 million.

2026 (three months remaining)

Forward-looking statements 182 changes

36 unchanged paragraphs

our ability to raise necessary funds to repurchase the 2030 Convertible Notes (as defined below) or to pay any cash amounts due upon their maturity or conversion of the 2030 Convertible Notes and dilution to our common stock upon the conversion of the 2030 Convertible Notes;

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counterparty risk with respect to the Capped Calls; (as defined below);

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During 2024, we established a subsidiary in India to support potential future operational needs. While our presence in India has grown since 2024, these operations remain immaterial to our Condensed Consolidated Financial Statements as of June September 30, 2026.

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Integrations : Scalability and extensibility driven by more than 350 400 real-time integrations to back-office systems and third-party fintech solutions as of June September 30, 2026, including core systems, payment cards, mortgages, bill pay, electronic documents, money movement, personal financial management and account opening.

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We derive our Platform revenues almost entirely from multi-year contracts that are based on an average contract life of approximately 70 months as of June September 30, 2026. We predominantly employ a per-registered-user pricing model, with incremental fees above certain contractual client minimum commitments for each licensed solution. In these cases, our pricing is tiered, with per-registered-user discounts applied as clients achieve higher levels of customer or member penetration, incentivizing our clients to internally market and promote digital engagement.

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For the three months ended June September 30, 2026 and 2025, our total revenues were $129.8 $134.9 million and $112.1 $113.0 million, respectively, representing a 15.9% 19.4% increase period-over-period. For the six nine months ended June September 30, 2026 and 2025, our total revenues were $256.0 $390.9 million and $209.9 $322.8 million, respectively, representing an increase of 22.0% 21.1% period-over-period. SaaS subscription revenues, as further described below, represented 94.7% 95.7% and 95.2% 95.4% of total revenues for the three and six nine months ended June September 30, 2026, respectively, and 94.5% 95.5% and 94.7% 94.9% of total revenues for the three and six nine months ended June September 30, 2025, respectively. We incurred net losses of $8.9 $6.7 million and $18.9 $25.6 million for the three and six nine months ended June September 30, 2026, respectively, and net losses of $13.6 $14.8 million and $21.4 $36.2 million for the three and six nine months ended June September 30, 2025, respectively, largely on the basis of significant continued investment in sales, marketing, product development and post-sales client activities.

In September 2026, we entered into agreements to assign our remaining rights and obligations under the lease for our headquarters in Plano, Texas to a third party effective on July 1, 2027. In connection with the agreements, we have agreed to make payments to the third party totaling approximately $4.0 million, due within 30 days after the assignment effective date. The assignment and our payment obligation are contingent on, among other things, the surrender the premises on February 1, 2027, the landlord s release of our obligations arising under the lease after the assignment effective date and the landlord s receipt of replacement security from the third party. Until the contingencies are resolved, we remain the primary obligor under the lease.

As of September 30, 2026, we continue to account for the lease, the related right-of-use asset and the related property and equipment (as disclosed in Note 3 to our Notes to the Unaudited Condensed Consolidated Financial Statements) under their existing terms, and no impairment has been identified related to the assignment. We will continue to monitor quarterly for impairment through the assignment effective date.

In September 2026, we incurred broker commissions of $2.1 million in connection with the assignment, which were included in general and administrative expenses for the three months ended September 30, 2026.

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Growing our FI Client Base. A key part of our strategy is to grow our FI client base. As of June September 30, 2026, we served 313 323 FIs through the Platform and more than 1,000 clients when including unique clients only subscribing to one or a combination of ACH Alert, Segmint, Onboarding & Account Opening, Data & Marketing or MANTL Fraud Prevention products. Each of our digital banking client wins is a competitive takeaway, and as such, our historical ability to grow our client base has been a function of product depth, technological excellence and a sales and marketing function able to match our solutions with the strategic objectives of our clients. Our future success will significantly depend on our ability to continue to grow our FI client base through competitive wins.

Deepening Client Customer or Member Penetration. We primarily generate revenues through a per-registered-user per-user pricing model. Once we onboard a client, our ability to help drive incremental client customer or member digital adoption translates to additional revenues with very limited additional spend. Our FI clients are incentivized to market and encourage digital account sign-up based on identifiable improvement in customer engagement, as well as discounts received based on certain levels of customer or member penetration. We expect to continue to support digital adoption by client customers or members through continued investments in new products and platform enhancements. Our future success will depend on our ability to continue to deepen client customer or member penetration.

Expanding our Product Suite. Product depth is a key determinant in winning new clients. In a replacement market, we win based on our ability to bring a product suite to market that is superior to the incumbent, as well as to our broader competition. Of equal importance is the ability to cohesively deliver a deep product suite with as little friction as possible to the client customer or member. The depth of our product suite is a function of technology and platform partnerships. Our platform model with more than 350 400 integrations as of June September 30, 2026 enables us to deliver thousands of configurations aligned with the digital platform strategies adopted by our clients. We expect our future success in winning new clients to be partially driven by our ability to continue to develop and deliver new, innovative products to FI clients in a timely manner. Furthermore, expanding our product suite expands our Revenue per Registered User ( RPU ) potential. For additional information regarding RPU, see Key Business Metrics.

Client Renewals. Our model and the stability of our revenue base is, in part, driven by our ability to renew our clients. In addition to extending existing relationships, renewals provide an opportunity to grow minimum contract value, as over the course of a contract term our clients often grow, or their needs evolve. Client renewals for our Platform are also an important lever in driving our long-term gross margin targets, as we generally achieve approximately 70% gross margin upon renewal. We had 7 9 and 11 20 client renewals in the three and six nine months ended June September 30, 2026, respectively. We expect client renewals to continue to play a key role in our future success.

Continued Leadership in Innovation. Our ability to maintain a differentiated platform and offering is dependent upon our pace of innovation. Our single code base, built on a multi-tenant infrastructure and combined with continuous software delivery, enables us to bring new, innovative products to market quickly and positions us with what we believe is market-leading breadth in terms of product offerings and feature sets. We remain committed to investing in our platform, notably through our research and development spend, which was 24.2% and 24.4% 24.3% of our revenues for the three and six nine months ended June September 30, 2026, respectively. Our future success will depend on our continued leadership in innovation.

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We derive substantially all of our revenues from SaaS subscription services charged for the use of our digital sales and service solution. The majority of our client relationships revenues are predominantly based on derived from multi-year contracts for the Platform, that which have had an average contract life of approximately 70 months as of June September 30, 2026. Subscription services are recognized over time on a ratable basis over the client agreement term beginning on the date our solution is made available to our client. The promised consideration may include fixed or variable amounts. Our clients with enterprise license contracts are invoiced on an agreed upon monthly rate throughout the contract term, which may include fixed monthly or annual rate escalations. Fixed dollar or percentage escalations that are not based on registered users are considered part of the fixed transaction price and recognized on a straight-line basis over the SaaS subscription period evenly. The majority of our client contracts are based on registered users, for which clients are invoiced a monthly contractual minimum fee for each licensed solution. In addition, to the extent clients exceed their contractual minimum commitments, we invoice a monthly subscription fee based on (i) the number of registered users on each licensed solution and (ii) the number of bill-pay and certain other transactions conducted through our Platform. Our pricing is tiered, with per-registered-user discounts applied as clients achieve higher levels of customer or member penetration, incentivizing our clients to internally market our products and promote digital engagement. Variable consideration earned for subscription fees in excess of contractual minimums is recognized as revenues in the month of actual usage. Our SaaS subscription services also fees include annual and monthly charges for maintenance and support services, which are recognized together with the subscription on a straight-line basis over the contract term.

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Six months ended June 30,

The following table disaggregates our revenues for the three and six nine months ended June September 30, 2026 and 2025 by major source:

Three months ended June September 30,

Nine months ended September 30,

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SaaS subscription services $ 122,975 $ 105,859 $ 243,753 $ 198,667

Implementation services 3,326 3,244 6,985 5,516

Other services 3,543 2,956 5,244 5,711

Total revenues $ 129,844 $ 112,059 $ 255,982 $ 209,894

SaaS subscription services $ 129,086 $ 107,867 $ 372,839 $ 306,534

Implementation services 3,706 3,509 10,691 9,025

Other services 2,119 1,578 7,363 7,289

Total revenues $ 134,911 $ 112,954 $ 390,893 $ 322,848

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Six months ended June 30,

We intend to continue to increase our investments in our implementation, client support teams and technology infrastructure to serve our clients and support our growth. We expect cost of revenues to continue to grow in absolute dollars as we grow our business, but to vary as a percentage of revenues from period to period as a function of the efficiency and utilization of implementation and support personnel and the extent to which we recognize fees from bill-pay services and other third-party functionality integrated into our solutions. Our gross margin for the three and six nine months ended June September 30, 2026 was 56.8% 57.5% and 57.7%, 57.6%, respectively, and 58.6% 56.8% and 58.8% 58.1% for the three and six nine months ended June September 30, 2025, respectively.

The major components of cost of revenues are represented in the following table as percentages of revenues for the three and six nine months ended June September 30, 2026 and 2025, respectively:

Three months ended June September 30,

Nine months ended September 30,

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Stock-based compensation 1.4 % 1.5 % 1.3 % 2.1 %

Third-party hosting services 5.4 5.3 % 4.7 4.9 % 5.4 % 4.9 5.0 %

Direct costs of bill-pay and other third-party intellectual property 20.9 21.3 % 18.3 19.3 % 20.2 20.5 % 18.3 18.6 %

Implementation and client support teams 8.2 7.9 % 8.9 9.2 % 8.1 % 9.1 %

Development team (maintenance and updates) 2.6 2.5 % 3.0 2.9 % 2.6 % 2.9 %

Amortization 4.6 4.4 % 5.0 % 4.7 4.6 % 3.9 4.3 %

Stock-based compensation 1.1 % 1.9 % 1.2 % 2.0 %

Research and Development. Research and development costs consist primarily of personnel-related costs for our engineering, information technology and product employees, including salaries, bonuses, other incentive-related compensation, employee benefits and stock-based compensation. In addition, we also include third-party contractor expenses, software development and testing tools, allocated corporate expenses and other expenses related to developing new solutions and upgrading and enhancing existing solutions. We expect research and development costs to increase as we expand our platform with new features and functionality, as well as enhance the existing Alkami Digital Sales & Service Platform. However, we expect that research and development expenses will decrease as a percentage of revenue over the long term.

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General and Administrative . General and administrative expenses consist primarily of personnel-related costs for our executive, finance, legal, human resources, information technology, security and compliance and other administrative employees, including salaries, bonuses, commissions, other incentive-related compensation, employee benefits and stock-based compensation. General and administrative expenses also include accounting, auditing and legal professional services fees, acquisition-related expenses, loss on impairment of intangible assets, secondary offering related expenses, stockholder matters related expenses, lease assignment related expenses, travel and other unallocated corporate-related expenses, such as the cost of our facilities, employee relations, corporate telecommunication and software. We expect that general and administrative expenses will continue to increase as we scale our business and as we incur costs associated with being a publicly traded company, including legal, audit, business insurance and consulting fees. However, we expect that general and administrative expenses will decrease as a percentage of revenue over the long term.

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Non-operating income (expense) consists primarily of interest income from our cash balances, interest expense from borrowings under our revolving loan facility under the Amended Credit Agreement (the Revolving Facility ) and 2030 Convertible Notes, amortization of debt discount and deferred debt costs, unrealized gains or losses on marketable securities and realized gains on sales of marketable securities.

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Six months ended June 30,

The results of operations presented below should be reviewed in conjunction with the Unaudited Condensed Consolidated Financial Statements and notes included elsewhere in this filing. The following table presents our selected Unaudited Condensed Consolidated Statements of Operations data for the three and six nine months ended June September 30, 2026 and 2025.

Three months ended June September 30,

Nine months ended September 30,

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Revenues $ 129,844 $ 112,059 $ 255,982 $ 209,894

Revenues $ 134,911 $ 112,954 $ 390,893 $ 322,848

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Gross profit 73,813 65,618 147,682 123,378

Gross profit 77,579 64,142 225,261 187,520

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Research and development 31,399 30,231 62,399 57,116

Sales and marketing 22,821 22,991 42,776 40,890

General and administrative 25,591 26,552 52,503 54,356

Amortization of acquired intangibles 1,707 1,707 3,414 2,275

Total operating expenses 81,518 81,481 161,092 154,637

Research and development 32,598 30,091 94,997 87,207

Sales and marketing 18,260 19,337 61,036 60,227

General and administrative 31,263 25,889 83,766 80,245

Amortization of acquired intangibles 1,706 1,706 5,120 3,981

Total operating expenses 83,827 77,023 244,919 231,660

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Interest income 684 1,164 1,446 2,260

Interest expense (2,091) (3,188) (4,358) (3,989)

Interest income 628 1,026 2,074 3,286

Interest expense (2,092) (2,978) (6,450) (6,967)

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(Benefit from) provision for income taxes (212) (4,296) 2,541 (11,581)

(Benefit from) provision for income taxes (967) (29) 1,574 (11,610)

(1) Includes amortization of acquired technology of $4.9 million for both the three months ended June September 30, 2026 and 2025, and $9.8 $14.7 million and $6.8 $11.7 million for the six nine months ended June September 30, 2026 and 2025, respectively.

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Six months ended June 30,

Three months ended June September 30,

Nine months ended September 30,

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Cost of revenues $ 1,798 $ 1,706 $ 3,228 $ 4,342

Research and development 5,139 5,424 10,384 10,858

Sales and marketing 2,350 3,550 5,308 6,397

General and administrative 8,205 8,835 15,882 17,920

Total stock-based compensation expenses $ 17,492 $ 19,515 $ 34,802 $ 39,517

Cost of revenues $ 1,454 $ 2,103 $ 4,682 $ 6,445

Research and development 5,820 5,726 16,204 16,584

Sales and marketing 2,095 3,572 7,403 9,969

General and administrative 9,858 9,328 25,740 27,248

Total stock-based compensation expenses $ 19,227 $ 20,729 $ 54,029 $ 60,246

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and 102 more changes in the filing

Controls and procedures 1 change

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Disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the Exchange Act ), means controls and other procedures of a company that are designed to provide reasonable assurance that information required to be disclosed by a company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC s rules and forms, and that such information is accumulated and communicated to the company s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. Our management, with the participation of our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures at June September 30, 2026, the last day of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our principal executive officer and principal financial officer have concluded that, at June September 30, 2026, our disclosure controls and procedures were effective at the reasonable assurance level.

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Risk factors 1 change

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On April 23, 2026, our Board authorized a stock repurchase program to repurchase up to $100.0 million of our common stock. Repurchases under the stock repurchase program may be made from time to time, at management s discretion, using a variety of methods, including open market purchases, privately negotiated transactions, and other means all in accordance with federal securities laws and other applicable legal requirements, including pursuant to one or more Rule 10b5-1 trading plans. The timing and size of any repurchases will be determined by management based on prevailing share prices, general economic and market conditions, our liquidity and capital needs, and other factors deemed relevant. The stock repurchase program does not obligate us to repurchase any specific number of shares, has no expiration date, and may be modified, suspended, or terminated at any time at the discretion of the Board. The stock repurchase program has been authorized through December 31, 2028. Repurchases of shares of our common stock could affect the trading price of our common stock and could increase volatility of securities. Similarly, the future announcement of the modification, termination, or suspension of the stock repurchase program, or our decision not to utilize the full authorized repurchase amount under the stock repurchase program, could result in a decrease in the trading price of our common stock. In addition, the stock repurchase program could reduce our cash reserves, which may impact our ability to finance our growth, fund working capital, strategic acquisitions or business opportunities, execute our strategic plan or deploy cash for other general corporate purposes. Although the stock repurchase program is intended to enhance long-term stockholder value, there can be no assurance that it will do so, because the trading price of our common stock may decline below the levels at which we repurchased our shares, and short-term stock price fluctuations could reduce the effectiveness of the stock repurchase program.

Unregistered sales of stock 8 changes

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The following table provides information about our share purchase activity during the three months ended June September 30, 2026.

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April 1, 2026 - April 30, 2026

May 1, 2026 - May 31, 2026 884,575 $ 16.94 884,575 $ 85,000

June 1, 2026 - June 30, 2026

July 1, 2026 - July 31, 2026

August 1, 2026 - August 31, 2026

September 1, 2026 - September 30, 2026

(1) In April 2026, our Board authorized a stock repurchase program to repurchase up to $100.0 million of the Company s common stock. During the three months ended June September 30, 2026, the Company repurchased 884,575 on the open market 531,620 shares for $15 $ 10 million. For further information, see Note 8 of the Notes to the Unaudited Condensed Consolidated Financial Statements.

Other information 3 changes

In Item 9B of Part II of our Annual Report on Form 10-K for the year ended December 31, 2025, we inadvertently omitted the disclosure of a new Rule 10b5-1 trading arrangement (the Plan ) entered into by Brian R. Smith. To date, no transactions have occurred under the Plan. The terms of the Plan are described below.

On November 21, 2025, Brian Smith, our director, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. Subject to certain conditions, the Plan provides for the sale of up to 3,276,000 shares of our common stock through March 1, 2027, for a duration of 465 days.

During the three months ended September 30, 2026, no director or officer of the Company adopted or t erminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as each term is defined in Item 408 of Regulation S-K.

Exhibits 4 changes

2 unchanged paragraphs

10.1 Fourth Amendment to Amended and Restated Credit Agreement, among Alkami Technology, Inc. as the Borrower, the several Lenders from time to time party thereto and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as Administrative Agent, Issuing Lender and Swingline Lender, dated as of April 3, 2026

10.2 Fifth Amendment to Amended and Restated Credit Agreement, among Alkami Technology, Inc. as the Borrower, the several Lenders from time to time party thereto and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as Administrative Agent, Issuing Lender and Swingline Lender, dated as of May 1, 2026

14 unchanged paragraphs

Date: July 30, October 29, 2026 By: /s/ Alex Shootman

2 unchanged paragraphs

Date: July 30, October 29, 2026 By: /s/ Cassandra Hudson

2 unchanged paragraphs