PLANO, Texas (AP) — PLANO, Texas (AP) — Alkami Technology Inc. (ALKT) on Wednesday reported a loss of $11.4 million in its fourth quarter.
The Plano, Texas-based company said it had a loss of 11 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 10 cents per share.
The provider of digital banking services posted revenue of $120.8 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $119.9 million.
For the year, the company reported that its loss widened to $47.7 million, or 46 cents per share. Revenue was reported as $443.6 million.
For the current quarter ending in March, Alkami said it expects revenue in the range of $124.7 million to $125.7 million.
The company expects full-year revenue in the range of $525.5 million to $530.5 million.
Alkami shares have fallen 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.34, a decline of 45% in the last 12 months.
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