After a long pause, IPOs start coming back with a nice digital | Primor Investment Group

After a long pause, IPOs start coming back with a nice digital banking platform –– Alkami, in which we are taking part.
*not an investment advice

AlkamiTechnology, Inc. –– company focusing on a cloud-based digital banking platform development. Alkami's customer base includes various banks and credit institutions that can use the platform to build offers for their retail and institutional clients.

Ticker –– ALKT
IPO listing date: 14/04/2021
IPO size: $150 million
Market cap: $2 billion
Listing price range: $26 – $28
Underwriters: Goldman Sachs, J.P.Morgan, Barclays, Citigroup, William Blair

Highlights
- Alkami services are subscription-based, which makes it a SaaS.
- The company caters to 160 clients, most of them have long term agreements with an average of 70 months;
- Alkami's average annual growth from 2018 to 2020 reached +53%
- As the application to SEC states, Alkami earnings amounted to $112M in 2020, which is 52% more than in 2019.
- The business value also increased in 2020: $52.90M against $43.10M in 2019.
- Since its inception in 2009, Alkami raised over $385M in investments, Crunchbase reports.
- It’s a “rising market”-friendly company, since it enables regional and supra-regional financial institutions in the United States to compete with large ones.


Downsides
- Very competitive market.
- The company is still unprofitable
- The placement of the company is small, only about $ 150 million, the allocation will be low


https://www.alkami.com/