Alkami Technology, Inc. (ALKT) experienced a sharp decline of 5.79% in after-hours trading on Wednesday following the release of its first-quarter 2026 financial results.
The cloud-based digital banking solutions provider reported revenue of $126.1 million, a 28.9% increase year-over-year and slightly above analyst estimates. However, the company's GAAP net loss widened to $10.0 million from $7.8 million in the year-ago quarter. While adjusted EBITDA showed significant improvement to $22.3 million, the company's guidance for the second quarter indicated a sequential decline, with adjusted EBITDA forecast between $17.9 million and $18.7 million.
Alkami also announced a new $100 million share repurchase program. Market reaction suggests investor concern over the widening GAAP loss and the projected decrease in profitability for the upcoming quarter, overshadowing the positive revenue growth and capital return initiative.
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