Alkami Tech Shares Fall Premarket After Concluding Strategic Review Without Sale
Dow Jones
Sep 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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