ALKTALKAMI TECHNOLOGY, INC.
Services-Prepackaged Software
- Revenue
- $444M
- 33% YoY
- Operating margin
- -12.1%
- 9.6% YoY
- EBITDA
- −$27M
- 22% YoY
- Market cap
- $1.3B
- Employees
- 1,225
- $362K revenue each
- Net debt / EBITDA
- —
- −$50M net debt
- AI in 10-K
- 8.6
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 3 of 7
- TSR below peersNo1 of 4 years3+ of last 5 years
- High CEO pay despite TSRNo$6M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes17% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes48% of assetsOver 40% of assets
- Shareholder dissentYes73% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$362K · 35th pctBottom quartile of its SIC industry
- Quiet on AINo8.6 per 10K words · 91st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.3B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes3 filingsActive-intent 13D in 18 months
- Net insider sellingNo$253M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $152M | $204M | $265M | $334M | $444M | 33% |
| Operating income | −$43M | −$58M | −$64M | −$45M | −$54M | 20% |
| Net income | −$47M | −$59M | −$63M | −$41M | −$48M | 17% |
| Operating cash flow | −$29M | −$38M | −$18M | $19M | $43M | 131% |
| Capex | $1M | $1M | $1M | $1M | $2M | 29% |
| Stock-based comp | $15M | $45M | $51M | $59M | $76M | 28% |
| Buybacks | $3M | $0 | $0 | — | — | |
| Dividends | $5M | $0 | $0 | — | — |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Oct 30, 2026 | JANA Partners Management, LP | SCHEDULE 13D/A | 5.0% | Passive |
| Oct 16, 2026 | JANA Partners Management, LP | SCHEDULE 13D/A | 6.3% | Active |
| Jun 29, 2026 | JANA Partners Management, LP | SCHEDULE 13D | 6.3% | Active |
| May 15, 2026 | GENERAL ATLANTIC, L.P. | SCHEDULE 13D/A | 18.1% | Passive |
| May 12, 2026 | JANA Partners Management, LP | SCHEDULE 13D/A | 5.0% | Passive |
| May 7, 2026 | GENERAL ATLANTIC, L.P. | SCHEDULE 13D/A | 16.3% | Active |
| Apr 1, 2026 | JANA Partners Management, LP | SCHEDULE 13D | 5.1% | Passive |
| Mar 11, 2026 | GENERAL ATLANTIC, L.P. | SCHEDULE 13D/A | 14.0% | Passive |
| Aug 20, 2025 | GENERAL ATLANTIC, L.P. | SCHEDULE 13D | 11.6% | Passive |
Insider trading
- Open-market buys, 12 mo
- $255M · 21
- Open-market sells, 12 mo
- $2M · 7
- Net
- $253M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $7M | −$652K | 115 | 123 |
| FY2025 | $8M | $17M | 183 | 117 |
| FY2024 | $4M | $11M | 121 | 107 |
| FY2023 | $998K | −$5M | 73 | 65 |