Alexei Gogolev
JPMorgan Chase & Co, Research Division

Good morning, everyone. Thank you for being here. I'm delighted to have Alex Shootman, CEO of Alkami Technology; and Cassandra Hudson, recently appointed CFO of Alkami. Thank you so much for being here with us today.

Alex Shootman
CEO, President & Director

You don't get to play being new anymore.

Alexei Gogolev
JPMorgan Chase & Co, Research Division

That's true.

Cassandra Hudson
Chief Financial Officer & Treasurer

You said that 4 weeks in, I think.

Alexei Gogolev
JPMorgan Chase & Co, Research Division

Time flies when you're having fun.

Alexei Gogolev
JPMorgan Chase & Co, Research Division

Great. So we're going to get through a lot today. We're going to talk about the market opportunity, competitive position, growth algorithm, AI. But first on the market because I think that's one of the most interesting parts about your business, honestly. And Alex, you've identified that over 900 credit unions and 1,000 banks are in your ideal client portfolio and that they are still on legacy technology. You said that this is a replacement market governed by 5- to 7-year contract cycles with fewer than 300 potential clients renewing in a given year. Given those dynamics, is the addressable pool of jump balls per year, is it growing? Is it shrinking? Is it holding steady? And what would cause that to change?

Alex Shootman
CEO, President & Director

Yes. Right now, it's holding steady. So if you think about our customer set, I won't make you raise your hand, but most