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EXHIBIT 99.1 Alkami Announces First Quarter 2021 Financial Results Total Revenue Grew 43 % YoY PLANO , Texas , May 11 , 2021 ( GLOBE NEWSWIRE ) -- Alkami Technology , Inc. ( Nasdaq : ALKT ) ( “ Alkami ” ) , a leading cloud - based digital banking solutions provider for U.S. - based financial institutions , announced today results for its first quarter ending March 31 , 2021 . First Quarter 2021 Financial Highlights • GAAP total revenue of $ 33.3 million , an increase of 43 % year - over - year ; • GAAP gross margin of 53.4 % , an expansion of nearly 470 basis points year - over - year ; • Non - GAAP gross margin of 54.5 % , an expansion of approximately 540 basis points year - over - year ; • GAAP net loss of ( $ 10.9 ) million compared to a net loss of ( $ 10.3 ) million in the prior year ; and , • Adjusted EBITDA loss of ( $ 6.1 ) million compared to a loss of ( $ 9.1 ) million in the prior year quarter . Comments on the News " The start to 2021 has been historic for Alkami , ” said Mike Hansen , Chief Executive Officer . " We completed a successful initial public offering during April while achieving strong year - over - year revenue growth of 43 % during the first quarter . Our end market continues to be strong , particularly our target market of the top 2,000 Financial Institutions ( FIs ) . We expect to leverage this strength as we continue to execute our growth strategy and we strive to be the gold standard in digital banking . During the quarter we also built off our recent innovation investments in the commercial banking space , and successfully signed our 10th bank . " “ Alkami is on strong financial footing as we begin to execute our plan for 2021 , ” said Bryan Hill , Chief Financial Officer . “ We exited the quarter with nearly 10 million digital banking users on our platform , annual recurring revenue of $ 134 million and revenue per user of $ 13.40 . We exceeded both our revenue and profitability objectives for the quarter as we march towards cash flow positive . Our financial plan for 2021 will focus on strategic investments in both our go - to - market and innovation areas of the business in order to accelerate the adoption of what we believe is the best - in - class digital banking platform for FIs . " First Quarter 2021 Business Highlights • Annual Recurring Revenue ( ARR ) of $ 133.8 million , an increase of 39 % year - over - year ; Registered Users of 10.0 million , an increase of 28 % year - over - year ; • • Revenue Per Registered User ( RPU ) of $ 13.40 , an increase of 9 % year - over - year ; and , • Six client wins , including Liberty Bank , aggregating to over 215,000 digital banking users . 2021 Financial Outlook Alkami's financial outlook is based on current expectations . The following statements are forward - looking and actual results could differ materially depending on market conditions and the factors set forth under “ Cautionary Statement Regarding Forward - Looking Statements . " Alkami management expects to achieve the following results during the second quarter ending June 30 , 2021 : • GAAP total revenue is expected to be in the range of $ 34.0 million to $ 35.0 million ; • Adjusted EBITDA loss is expected to be in the range of ( $ 7.5 ) million to ( $ 6.5 ) million . Alkami management expects to achieve the following results during the calendar year ending December 31 , 2021 : • GAAP total revenue is expected to be in the range of $ 144.0 million to $ 148.0 million ; • Adjusted EBITDA loss is expected to be in the range of ( $ 26.5 ) million to ( $ 23.5 ) million . Conference Call Information The Company will host a conference call at 5:00 p.m. ET today to discuss its financial results with investors . A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com . In addition , a live dial - in will be available domestically at 833-607-1667 and internationally at 914-987-7879 . A replay will be available at 855-859-2056 or 404- 537-3406 , using passcode 3774803 , and on the Alkami investor relations website . About Alkami Alkami Technology , Inc. is a leading cloud - based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently , adapt quickly and build thriving digital communities . The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 240 financial institutions . Alkami's investments have resulted in a premium platform that has enabled it to replace older , larger and better - funded incumbents and provide clients with world - class experiences reflecting their individual digital strategies .