Alkami Technology, Inc.
Our mission is to empower financial institutions to grow confidently, adapt quickly and build thriving digital communities.
Alkami is a cloud-based digital banking platform. We inspire and empower community, regional and super-regional financial institutions (“FIs”) to compete with large, technologically advanced and well-resourced banks in the United States. Our solution, the Alkami Platform, allows FIs to onboard and engage new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture. We cultivate deep relationships with our clients through long-term, subscription-based contractual arrangements, aligning our growth with our clients’ success and generating an attractive unit economic model.
In the early 2000s, digital engagement began revolutionizing industries overnight, forcing firms to invest and innovate or risk losing long-term relationships to well-resourced competitors. Within banking, many FIs were ill-equipped to compete with larger competitors, including the largest banks in the world, such as J.P. Morgan Chase, Bank of America, Citigroup and Wells Fargo (collectively, “megabanks”), primarily due to resource constraints and the resulting inability to keep pace, technologically, with evolving consumer preferences for digital engagement. This led to the first digital banking platforms.
We founded Alkami to help level the playing field for FIs. Our vision was to create a platform that combined premium technology and FinTech solutions in one integrated ecosystem, delivered as a SaaS solution and providing our clients’ customers with a single point of access to all things digital. (SaaS stands for Software-as-a-Service.)
(Note: Alkami Technology priced its IPO on April 13, 2021, at $30 – above its recently increased price range of $26 to $28 – on 6 million shares to raise $180. The company raised the price range to $26 to $28, up from $22 to $25 initially, on the same number of shares – 6 million – in an S-1/A filing dated April 12, 2021.)
|Industry:||SERVICES - PREPACKAGED SOFTWARE|
|Address||5601 Granite Parkway, Suite 120 Plano, Texas 75024|
|Phone Number||(877) 725-5264|
|View Prospectus:||Alkami Technology, Inc.|
|Revenues||$112.1 mil (last 12 months)|
|Net Income||$-51.4 mil (last 12 months)|
|Price range||$30.00 - $30.00|
|Est. $ Volume||$180.0 mil|
|Manager / Joint Managers||Goldman Sachs/ J.P. Morgan/ Barclays/ Citigroup/ William Blair|
|CO-Managers||JMP Securities/ KeyBanc Capital Markets/ Needham & Co.|
|Expected To Trade:||4/14/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|