Here's Why Alkami Shares Fell 30% Last Month

Shares of Alkami Technology (NASDAQ: ALKT) fell 30.2% in May 2021, according to data from S&P Global Market Intelligence. The provider of cloud-based digital banking tools posted its first earnings report as a public company. Investors were not overly impressed.

Alkami's first-quarter sales rose 43.5% year over year to $33.3 million. The company recorded a net loss of $2 per share, up from a $2.31 loss per share in the year-ago period. The client list added up to 10 million names, a 28% annual increase. Revenue per registered user rose by 9% to $13.40 per quarter.

This report covered the first three calendar months of 2021, predating Alkami's initial public offering on April 14. The IPO added approximately $180 million to Alkami's balance sheet.

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Source Fool.com