Alkami Technology: A SaaS Concern Under A Cloud

Alkami Technology shares fell roughly 65% over 18 months due to AI-driven SaaS concerns. The company reported FY25 revenue of $443.6 million, up 33%, and adjusted EBITDA of $59.1 million, up 120%. ALKT raised FY26 guidance, maintains 70-month contracts and 115% net dollar retention, and trades at 18.1x FY26E EPS.