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Investor Relations | Alkami Technology , Inc. Alkami Announces Third Quarter 2021 Financial Results PLANO , Texas , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Alkami Technology , Inc. ( " Alkami " ) , a leading cloud - based digital banking solutions provider for U.S. - based financial institutions , announced today results for its third quarter ending September 30 , 2021 . Third Quarter 2021 Financial Highlights • GAAP total revenue of $ 39.8 million , an increase of 37 % year - over - year ; • GAAP gross margin of 56.3 % , an expansion of nearly 390 basis points year - over - year ; • Non - GAAP gross margin of 57.9 % , an expansion of over 520 basis points year - over - year ; • GAAP net loss of ( $ 11.2 ) million compared to a net loss of ( $ 21.3 ) million in the prior year ; and , Adjusted EBITDA loss of ( $ 6.1 ) million compared to a loss of ( $ 5.4 ) million in the prior year quarter . • Comments on the News " Third quarter financial results strength underscores our goal of being the best - of - breed digital banking platform for our industry , " said Mike Hansen , Chief Executive Officer . " We continue to focus on our key innovation areas of UI / UX , business banking , open platform capabilities and data solutions . We further strengthened our commitment to these areas with the acquisition of MK Decision which expands our total addressable market by over $ 2.5 billion while gaining new cross - selling opportunities among a larger installed base . MK's solutions unlock digital account opening and loan origination innovations previously reserved for the largest technology companies , megabanks and fintechs in the market . We believe this innovation mindset helped us secure six new digital banking clients during the quarter that possess significantly higher product adoption levels than we've seen historically . " " Third quarter financial results were strong , " said Bryan Hill , Chief Financial Officer . " We added over 675,000 digital banking users to our platform during the third quarter , exited the quarter with 11.4 million digital banking users on our platform , annual recurring revenue of $ 155 million and revenue per user of $ 13.57 . " 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 is providing the following guidance for its fourth quarter ending December 31 , 2021 . • GAAP total revenue in the range of $ 40.3 million to $ 41.3 million ; • Adjusted EBITDA loss in the range of ( $ 6.0 ) million to ( $ 5.0 ) million . Alkami management is providing the following guidance for its calendar year ending December 31 , 2021 . • GAAP total revenue in the range of $ 150.0 million to $ 151.0 million ; Adjusted EBITDA loss in the range of ( $ 23.5 ) million to ( $ 22.5 ) 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 800-708-4540 and internationally at 847-619-6937 using passcode 50201363. A replay will be available on the " News & Events " page of 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 280 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 . Cautionary Statement Regarding Forward - Looking Statements This press release 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 for the fourth quarter ending December 31 , 2021 and for the full year ending December 31 , 2021. These forward - looking statements are based on management's beliefs and assumptions and on information currently available to management . Forward - looking statements include all statements that are not historical facts and may be identified by terms such as " expects , " " believes , " " plans , " or similar expressions and the negatives of those terms . These forward - looking statements involve known and unknown risks , uncertainties , and other factors that may cause actual results , performance or achievements to be materially different from any future results , performance or achievements , expressed or implied by the forward - looking statements , including the uncertainty associated with the potential impacts of the COVID - 19 pandemic on our business , financial