ALKAMI TECHNOLOGY INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
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Consolidated Statements of Operations
(in thousands, except share and per share data)
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenues | $264,831 | $204,270 | $152,159 |
| Cost of revenues(1)(2) | 120,720 | 95,946 | 68,352 |
| Gross profit | 144,111 | 108,324 | 83,807 |
| Operating expenses: | |||
| Research and development | 84,661 | 69,329 | 48,800 |
| Sales and marketing | 48,557 | 36,811 | 24,174 |
| General and administrative | 72,900 | 71,247 | 50,398 |
| Acquisition-related expenses, net | 263 | (12,529) | 2,983 |
| Amortization of acquired intangibles | 1,435 | 1,155 | 368 |
| Total operating expenses | 207,816 | 166,013 | 126,723 |
| Loss from operations | (63,705) | (57,689) | (42,916) |
| Non-operating income (expense): | |||
| Interest income | 8,095 | 2,696 | 487 |
| Interest expense | (7,384) | (3,850) | (1,186) |
| Gain (loss) on financial instruments | 534 | (200) | (3,035) |
| Loss on extinguishment of debt | (409) | (18) | — |
| Loss before income taxes | (62,869) | (59,061) | (46,650) |
| Provision (benefit) for income taxes | 44 | (461) | 172 |
| Net loss | $(62,913) | $(58,600) | $(46,822) |
| Less: cumulative dividends and adjustments to redeemable convertible preferred stock | — | — | (277) |
| Net loss attributable to common stockholders | $(62,913) | $(58,600) | $(47,099) |
| Net loss per share attributable to common stockholders: | |||
| Basic and diluted | $(0.67) | $(0.64) | $(0.73) |
| Weighted average number of shares of common stock outstanding: | |||
| Basic and diluted | 94,080,797 | 90,956,521 | 64,510,456 |
(1) Includes amortization of acquired technology of $5.4 million, $3.9 million, and $0.7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
(2) Includes fees paid to a related party of $6.2 million, $4.4 million, and $4.4 million for the years ended December 31, 2023, 2022, and 2021, respectively. See Note 17.
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