HIGHBuilt-inProduct / Revenue mix
95%
SaaS subscription services
“10-K Item 1: 'SaaS subscription services, as further described below, represented 95.0%, 95.6%, and 95.3% of total revenues for'”
ALKT · Concentration risk · 10-K extracted
Alkami Technology (ALKT) concentration risks
Updated
The most significant concentration Alkami Technology discloses is SaaS subscription services at 95%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Alkami Technology’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
AWS
“10-K Item 1A: 'We primarily serve our clients from third-party data center hosting facilities provided by AWS ... we cannot easily switch our AWS operations to another cloud provider'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24Alkami Technology's disclosed concentration profile pairs a high-share structural revenue tilt with a high-share infrastructure dependency, and the two together define the risk perimeter of this SaaS business with unusual clarity. On the revenue side, SaaS subscription services represented 95.0% of total revenues in the most recently disclosed year, with similar ratios in prior periods. This is a structural exposure by character — the company is organized as a subscription software business, and this revenue share reflects the model's design rather than a contingent customer dependency. However, it also means that the durability of the business is almost entirely a function of subscription retention, contract renewal rates, and net revenue expansion, with virtually no non-recurring revenue to buffer churn. On the infrastructure side, the company primarily serves clients from hosting facilities provided by AWS and explicitly discloses that it cannot easily switch its AWS operations to another cloud provider. This is a high-share dependency by disclosed size, and its character is a concentrated infrastructure reliance: unlike most cloud-exposed businesses that could in principle migrate over time, the company's own filing suggests that operational switching costs are prohibitive in the near term. The interaction between these two exposures is the key risk observation: a nearly pure-subscription revenue model run on a single cloud provider that cannot readily be replaced means that AWS service disruptions, pricing changes, or contractual terms are infrastructure-level variables that would be difficult to hedge. Together these disclosures describe a business that is structurally sound on the revenue side but tightly dependent on one external provider for delivery.
For the engine’s reasoning on ALKT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Software - Application
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ALKT● | Alkami Technology, Inc. | 2 | 0 | 0 | 2 |
| ADSK | Autodesk, Inc. | 1 | 1 | 1 | 3 |
| ADEA | Adeia Inc. | 1 | 0 | 0 | 1 |
| AGYS | Agilysys, Inc. | 0 | 2 | 0 | 2 |
| ADBE | Adobe Inc. | 0 | 0 | 0 | 0 |
| ADP | Automatic Data Processing, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.