Alkami Tech Shares Fall Premarket After Concluding Strategic Review Without Sale

Dow Jones09-23

Shares of Alkami Technology fell in premarket trading Wednesday after the company said it has decided to continue to pursue its long-term strategy as a public company after considering other options, including a potential sale.

Shares fell 19% to $14.74.

The digital sales and service platform for U.S. banks and credit unions said the decision follows a review of strategic opportunities which it conducted in conjunction with its financial and legal advisers.

Alkami said it determined that continuing to execute its long-range strategic plan as an independent, public company is the best course of action.

Alkami reiterated its guidance for the year which forecasts revenue of $528 million to $531 million and adjusted earnings before interest, taxes, depreciation and amortization of $96 million to $98 million.

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