Alkami Technology, Inc. announced strong financial results for its first quarter ending March 31, 2025. The company reported total revenue of $97.8 million, a 28.5% increase year-over-year, and achieved Adjusted EBITDA of $12.1 million. Alkami exited Q1 with 20.5 million users on its platform, an increase of 2.3 million compared to the prior-year quarter, and reported Annual Recurring Revenue (ARR) of $404 million, up 33% year-over-year.
The MANTL acquisition, which closed on March 17, 2025, contributed $1.4 million to total revenue and a ($0.1 million) loss to Adjusted EBITDA in Q1. Alkami expects MANTL to contribute approximately $31.4 million in revenue and a $5.0 million Adjusted EBITDA loss to its 2025 full-year financial performance, with MANTL's ARR under contract projected to reach $60 million by the end of 2025.
Alkami also announced the planned retirement of its Chief Financial Officer, Bryan Hill, who will remain in his role until February 27, 2026, or 15 days after a successor is hired, and will then transition to a consultant role. Alex Shootman, CEO, acknowledged Hill's pivotal role in Alkami's IPO, capital expansion, and four acquisitions, noting the company's strong financial position under his leadership.
For the second quarter ending June 30, 2025, Alkami provided revenue guidance between $109.0 million and $110.5 million, representing 33% to 35% year-over-year growth, and Adjusted EBITDA guidance between $9.0 million and $10.0 million, which includes a full quarter of MANTL's expected loss. The full fiscal year 2025 guidance projects total revenue in the range of $443.0 million to $447.0 million, implying 33% to 34% growth, with Adjusted EBITDA between $49.5 million and $52.5 million.
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