ALKAMI TECHNOLOGY Business Summary

Alkami Technology, Inc. (ALKT) operates as a leading cloud-native digital banking platform provider, primarily serving U.S.-based community banks and credit unions. The company utilizes a high-margin Software-as-a-Service (SaaS) subscription model, which accounts for approximately 96% of its total revenue, supplemented by implementation services and professional consulting fees. Its primary business segments are categorized into SaaS Subscription Services, Implementation Services, and Other Services, supporting a platform that integrates retail and business banking, digital account opening, and data-driven marketing tools. Alkami competes directly with Q2 Holdings, nCino, and Lumin Digital, positioning itself as a premium, multi-tenant cloud alternative to legacy on-premise providers by offering superior scalability and a unified user experience for over 20 million registered users. The company was founded in 2009 by Stephen Bohanon, Gary Nelson, and S. Sean McElroy, with Bohanon continuing to serve as the Chief Strategy and Sales Officer. The leadership team is led by CEO Alex Shootman, who brings over 20 years of enterprise SaaS experience from his previous roles as CEO of Workfront and Apptio. Supporting the executive suite are CFO Cassandra Hudson, who joined in late 2025 from EngageSmart, and CTO Deep Varma, the former CTO of Varo Bank and a veteran of Zillow Group. Alkami is backed by prominent institutional investors including General Atlantic and S3 Ventures, with Board Chairperson Brian R. Smith (S3 Ventures) and Director Raph Osnoss (General Atlantic) providing significant strategic oversight.