ACI Worldwide, Inc. Reports Financial Results for the Quarter and Full Year Ended December 31, 2024
ACI Worldwide (NASDAQ: ACIW) reported strong financial results for 2024, with total revenue growing 10% to $1.594 billion. Net income surged 67% to $203 million, while adjusted EBITDA increased 18% to $466 million. Cash flow from operating activities more than doubled, reaching $359 million.
Segment performance showed varied results: Bank segment revenue rose 14% with adjusted EBITDA up 20%, Merchant segment revenue increased 10% with adjusted EBITDA up 57%, while Biller segment revenue grew 6% but saw an 8% decrease in adjusted EBITDA. The company ended 2024 with $216 million in cash and $933 million in debt.
Looking ahead to 2025, ACI projects revenue growth of 7-9%, targeting $1.685-1.715 billion, with adjusted EBITDA expected between $480-495 million.
ACI Worldwide (NASDAQ: ACIW) ha riportato risultati finanziari solidi per il 2024, con un aumento del fatturato totale del 10% a 1,594 miliardi di dollari. L'utile netto è aumentato del 67% a 203 milioni di dollari, mentre l'EBITDA rettificato è cresciuto del 18% a 466 milioni di dollari. Il flusso di cassa dalle attività operative è più che raddoppiato, raggiungendo 359 milioni di dollari.
Le performance dei segmenti hanno mostrato risultati variabili: il fatturato del segmento bancario è aumentato del 14% con un EBITDA rettificato in crescita del 20%, il fatturato del segmento commercianti è aumentato del 10% con un EBITDA rettificato in aumento del 57%, mentre il fatturato del segmento fatturazione è cresciuto del 6% ma ha registrato una diminuzione dell'8% nell'EBITDA rettificato. L'azienda ha chiuso il 2024 con 216 milioni di dollari in contante e 933 milioni di dollari in debito.
Guardando al 2025, ACI prevede una crescita del fatturato del 7-9%, puntando a 1,685-1,715 miliardi di dollari, con un EBITDA rettificato previsto tra 480-495 milioni di dollari.
ACI Worldwide (NASDAQ: ACIW) reportó resultados financieros sólidos para 2024, con un crecimiento del ingreso total del 10% a 1,594 mil millones de dólares. El ingreso neto aumentó un 67% a 203 millones de dólares, mientras que el EBITDA ajustado creció un 18% a 466 millones de dólares. El flujo de efectivo de las actividades operativas se más que duplicó, alcanzando 359 millones de dólares.
El rendimiento de los segmentos mostró resultados variados: los ingresos del segmento bancario aumentaron un 14% con un EBITDA ajustado que subió un 20%, los ingresos del segmento comerciantes aumentaron un 10% con un EBITDA ajustado que subió un 57%, mientras que los ingresos del segmento de facturación crecieron un 6% pero vieron una disminución del 8% en el EBITDA ajustado. La compañía terminó 2024 con 216 millones de dólares en efectivo y 933 millones de dólares en deuda.
Mirando hacia 2025, ACI proyecta un crecimiento de ingresos del 7-9%, con un objetivo de 1,685-1,715 mil millones de dólares, y un EBITDA ajustado esperado entre 480-495 millones de dólares.
ACI Worldwide (NASDAQ: ACIW)는 2024년 강력한 재무 실적을 보고하며 총 수익이 10% 증가한 15억 9,400만 달러에 달했습니다. 순이익은 67% 증가하여 2억 3백만 달러에 도달했으며, 조정 EBITDA는 18% 증가하여 4억 6,600만 달러에 이르렀습니다. 운영 활동으로부터의 현금 흐름은 두 배 이상 증가하여 3억 5,900만 달러에 도달했습니다.
세그먼트 성과는 다양한 결과를 보여주었습니다: 은행 세그먼트 수익은 14% 증가하고 조정 EBITDA는 20% 증가했으며, 상인 세그먼트 수익은 10% 증가하고 조정 EBITDA는 57% 증가했습니다. 청구 세그먼트 수익은 6% 증가했지만 조정 EBITDA는 8% 감소했습니다. 이 회사는 2024년을 2억 1,600만 달러의 현금과 9억 3,300만 달러의 부채로 마감했습니다.
2025년을 바라보며 ACI는 7-9%의 수익 성장을 예상하며 16억 8,500만-17억 1,500만 달러를 목표로 하고, 조정 EBITDA는 4억 8,000만-4억 9,500만 달러 사이로 예상하고 있습니다.
ACI Worldwide (NASDAQ: ACIW) a annoncé des résultats financiers solides pour 2024, avec une croissance du chiffre d'affaires total de 10% atteignant 1,594 milliard de dollars. Le bénéfice net a bondi de 67% à 203 millions de dollars, tandis que l'EBITDA ajusté a augmenté de 18% pour atteindre 466 millions de dollars. Le flux de trésorerie provenant des activités d'exploitation a plus que doublé, atteignant 359 millions de dollars.
La performance des segments a montré des résultats variés : les revenus du segment bancaire ont augmenté de 14% avec un EBITDA ajusté en hausse de 20%, les revenus du segment commerçant ont augmenté de 10% avec un EBITDA ajusté en hausse de 57%, tandis que les revenus du segment de facturation ont augmenté de 6% mais ont enregistré une baisse de 8% de l'EBITDA ajusté. L'entreprise a terminé 2024 avec 216 millions de dollars en liquidités et 933 millions de dollars de dettes.
En regardant vers 2025, ACI prévoit une croissance du chiffre d'affaires de 7 à 9%, visant 1,685-1,715 milliard de dollars, avec un EBITDA ajusté attendu entre 480-495 millions de dollars.
ACI Worldwide (NASDAQ: ACIW) meldete für 2024 starke finanzielle Ergebnisse, mit einem Umsatzwachstum von 10% auf 1,594 Milliarden Dollar. Der Nettogewinn stieg um 67% auf 203 Millionen Dollar, während das bereinigte EBITDA um 18% auf 466 Millionen Dollar zunahm. Der Cashflow aus operativen Tätigkeiten verdoppelte sich mehr als und erreichte 359 Millionen Dollar.
Die Segmentleistung zeigte unterschiedliche Ergebnisse: Der Umsatz im Bankensegment stieg um 14% und das bereinigte EBITDA um 20%, der Umsatz im Händlersegment stieg um 10% und das bereinigte EBITDA um 57%, während der Umsatz im Abrechnungssegment um 6% wuchs, aber ein Rückgang von 8% im bereinigten EBITDA verzeichnete. Das Unternehmen schloss 2024 mit 216 Millionen Dollar in bar und 933 Millionen Dollar an Schulden ab.
Für 2025 rechnet ACI mit einem Umsatzwachstum von 7-9%, mit einem Ziel von 1,685-1,715 Milliarden Dollar, und einem bereinigten EBITDA, das zwischen 480-495 Millionen Dollar erwartet wird.
- Revenue grew 10% to $1.594B
- Net income surged 67% to $203M
- Adjusted EBITDA increased 18% to $466M
- Operating cash flow up 113% to $359M
- Bank segment revenue up 14%, EBITDA up 20%
- Merchant segment revenue up 10%, EBITDA up 57%
- Strong 2025 guidance: 7-9% revenue growth
- Biller segment EBITDA decreased 8%
- $933M debt balance
Insights
ACI Worldwide delivered exceptional financial results for 2024, with performance that significantly exceeded expectations across all key metrics. Revenue grew
The dramatic improvement in cash flow from operations, which more than doubled to
Segment performance reveals important trends in ACI's business. The Bank segment's strong results (
ACI maintains a conservative financial position with a net debt leverage ratio of 1.5x adjusted EBITDA, providing substantial capacity for strategic acquisitions in the fragmented payments technology market. The company's robust share repurchase activity (
The 2025 guidance of
ACI Worldwide's strong financial performance validates their strategic pivot toward Intelligent Payments Orchestration, representing a significant evolution in the company's technological approach. Unlike traditional payment processing that simply routes transactions, orchestration platforms create a sophisticated middleware layer that intelligently manages the entire payment lifecycle across multiple channels, payment types, and processors.
The
ACI's orchestration strategy addresses several key market trends: the proliferation of payment methods requiring unified management, financial institutions' need to modernize legacy payment systems without full replacements, and merchants seeking to optimize payment routing for cost reduction. Their platform approach creates substantial barriers to entry through deep integration with client systems.
The company faces competition from both legacy payment processors evolving their offerings (FIS, Fiserv) and newer cloud-native payment technology providers. ACI's advantage lies in their extensive banking relationships, proven scalability handling massive transaction volumes, and comprehensive capabilities spanning multiple payment types.
The expansion of adjusted EBITDA margins to
Key technological challenges include maintaining security and compliance across diverse payment systems, ensuring real-time performance at scale, and integrating with increasingly complex client environments. ACI's focus on orchestration rather than processing positions them to benefit from payment innovation rather than being disrupted by it, as they can integrate new payment types into their platform as they emerge.
2024 HIGHLIGHTS
-
Total revenue of
$1.59 4 billion10% -
Net income of
$203 million 67% -
Total adjusted EBITDA of
$466 million 18% -
Cash flow from operating activities of
$359 million 113% -
Expect 7
-9% revenue growth in 2025
"We are proud to have finished 2024 with stronger results than we expected across our key financial metrics, and that strength has continued as we start 2025. In 2024, we grew revenue
“Building on our momentum and track record of success, we are entering 2025 from a position of strength, both financially and operationally,” Warsop added. “We are confident in our ability to continue driving strong financial performance and focused on increasing shareholder value.”
FINANCIAL SUMMARY
Full-year 2024 total revenue was
-
Bank segment revenue increased
14% and Bank segment adjusted EBITDA increased20% versus 2023. -
Merchant segment revenue increased
10% and Merchant segment adjusted EBITDA increased57% versus 2023. -
Biller segment revenue increased
6% and Biller segment adjusted EBITDA decreased8% versus 2023 due to certain one-time margin benefits that did not recur in 2024.
ACI ended 2024 with
Q1 AND FULL-YEAR 2025 GUIDANCE
For the full year of 2025, we expect revenue growth to be in the
CONFERENCE CALL TO DISCUSS FINANCIAL RESULTS
Today, management will host a conference call at 8:30 a.m. ET to discuss these results. Interested persons may access a real-time audio broadcast of the teleconference at http://investor.aciworldwide.com/ or use the following number for dial-in participation: toll-free 1 (888) 660-6377 and conference code 3153574.
About ACI Worldwide
ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With nearly 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities.
© Copyright ACI Worldwide, Inc. 2025
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in
To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude significant transaction-related expenses, as well as other significant non-cash expenses such as depreciation, amortization, and stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. The presentation of these non-GAAP financial measures should be considered in addition to our GAAP results and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management generally compensates for limitations in the use of non-GAAP financial measures by relying on comparable GAAP financial measures and providing investors with a reconciliation of non-GAAP financial measures only in addition to and in conjunction with results presented in accordance with GAAP.
We believe that these non-GAAP financial measures reflect an additional way to view aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Certain non-GAAP measures include:
- Adjusted EBITDA: net income (loss) plus income tax expense (benefit), net interest income (expense), net other income (expense), depreciation, amortization and stock-based compensation, as well as significant transaction-related expenses. Adjusted EBITDA should be considered in addition to, rather than as a substitute for, net income (loss).
- Net Adjusted EBITDA Margin: Adjusted EBITDA divided by revenue net of pass-through interchange revenue. Net Adjusted EBITDA Margin should be considered in addition to, rather than as a substitute for, net income (loss).
- Diluted EPS adjusted for non-cash and significant transaction related items: diluted EPS plus tax effected significant transaction related items, amortization of acquired intangibles and software, and non-cash stock-based compensation. Diluted EPS adjusted for non-cash and significant transaction related items should be considered in addition to, rather than as a substitute for, diluted EPS.
- Recurring Revenue: revenue from software as a service and platform as a service fees and maintenance fees. Recurring revenue should be considered in addition to, rather than as a substitute for, total revenue.
- ARR: New annual recurring revenue expected to be generated from new accounts, new applications, and add-on sales bookings contracts signed in the period.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words or phrases such as “believes,” “will,” “expects,” “anticipates,” “intends,” and words and phrases of similar impact. The forward-looking statements are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release include, but are not limited to: (i) our strength continuing as we start 2025, (ii) our execution on the strategy we launched in 2024 to become the global leader in Intelligent Payments Orchestration, (iii) building on our momentum and track record of success, we are entering 2025 from a position of strength, both financially and operationally, (iv) we are confident in our ability to continue driving strong financial performance and focused on increasing shareholder value, and (v) Q1 2025 and full-year 2025 revenue and adjusted EBITDA financial guidance.
All of the foregoing forward-looking statements are expressly qualified by the risk factors discussed in our filings with the Securities and Exchange Commission. Such factors include, but are not limited to, increased competition, business interruptions, cybersecurity incidents or failure of our information technology and communication systems, security breaches, our ability to attract and retain senior management personnel and skilled technical employees, future acquisitions, strategic partnerships and investments, divestitures and other restructuring activities, implementation and success of our strategy, impact if we convert some or all on-premise licenses from fixed-term to subscription model, anti-takeover provisions, exposure to credit or operating risks arising from certain payment funding methods, loss caused by theft or fraud, customer reluctance to switch to a new vendor, our ability to adequately defend our intellectual property, litigation, consent orders and other compliance agreements, our offshore software development activities, risks from operating internationally, including fluctuations in currency exchange rates, events in eastern
ACI WORLDWIDE, INC. AND SUBSIDIARIES |
|||||||
CONSOLIDATED BALANCE SHEETS |
|||||||
(unaudited and in thousands) |
|||||||
|
December 31, |
||||||
|
2024 |
|
2023 |
||||
ASSETS |
|
|
|
||||
Current assets |
|
|
|
||||
Cash and cash equivalents |
$ |
216,394 |
|
|
$ |
164,239 |
|
Receivables, net of allowances |
|
414,399 |
|
|
|
452,337 |
|
Settlement assets |
|
318,871 |
|
|
|
723,039 |
|
Prepaid expenses |
|
29,218 |
|
|
|
31,479 |
|
Other current assets |
|
11,940 |
|
|
|
35,551 |
|
Total current assets |
|
990,822 |
|
|
|
1,406,645 |
|
Noncurrent assets |
|
|
|
||||
Accrued receivables, net |
|
360,079 |
|
|
|
313,983 |
|
Property and equipment, net |
|
35,069 |
|
|
|
37,856 |
|
Operating lease right-of-use assets |
|
28,864 |
|
|
|
34,338 |
|
Software, net |
|
92,893 |
|
|
|
108,418 |
|
Goodwill |
|
1,226,026 |
|
|
|
1,226,026 |
|
Intangible assets, net |
|
165,377 |
|
|
|
195,646 |
|
Deferred income taxes, net |
|
72,713 |
|
|
|
58,499 |
|
Other noncurrent assets |
|
53,450 |
|
|
|
63,328 |
|
TOTAL ASSETS |
$ |
3,025,293 |
|
|
$ |
3,444,739 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
45,422 |
|
|
$ |
45,964 |
|
Settlement liabilities |
|
317,484 |
|
|
|
721,164 |
|
Employee compensation |
|
55,567 |
|
|
|
53,892 |
|
Current portion of long-term debt |
|
34,928 |
|
|
|
74,405 |
|
Deferred revenue |
|
75,419 |
|
|
|
59,580 |
|
Other current liabilities |
|
73,808 |
|
|
|
82,244 |
|
Total current liabilities |
|
602,628 |
|
|
|
1,037,249 |
|
Noncurrent liabilities |
|
|
|
||||
Deferred revenue |
|
19,304 |
|
|
|
24,780 |
|
Long-term debt |
|
889,649 |
|
|
|
963,599 |
|
Deferred income taxes, net |
|
39,920 |
|
|
|
40,735 |
|
Operating lease liabilities |
|
22,592 |
|
|
|
29,074 |
|
Other noncurrent liabilities |
|
26,873 |
|
|
|
25,005 |
|
Total liabilities |
|
1,600,966 |
|
|
|
2,120,442 |
|
Stockholders’ equity |
|
|
|
||||
Preferred stock |
|
— |
|
|
|
— |
|
Common stock |
|
702 |
|
|
|
702 |
|
Additional paid-in capital |
|
731,927 |
|
|
|
712,994 |
|
Retained earnings |
|
1,598,085 |
|
|
|
1,394,967 |
|
Treasury stock |
|
(784,914 |
) |
|
|
(674,896 |
) |
Accumulated other comprehensive loss |
|
(121,473 |
) |
|
|
(109,470 |
) |
Total stockholders’ equity |
|
1,424,327 |
|
|
|
1,324,297 |
|
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ |
3,025,293 |
|
|
$ |
3,444,739 |
|
ACI WORLDWIDE, INC. AND SUBSIDIARIES |
|||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||||||||||
(unaudited and in thousands, except per share amounts) |
|||||||||||||||
|
Three Months Ended
|
|
Years Ended December 31, |
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Revenues |
|
|
|
|
|
|
|
||||||||
Software as a service and platform as a service |
$ |
223,481 |
|
|
$ |
223,172 |
|
|
$ |
897,979 |
|
|
$ |
849,147 |
|
License |
|
159,322 |
|
|
|
178,543 |
|
|
|
412,306 |
|
|
|
321,224 |
|
Maintenance |
|
46,717 |
|
|
|
51,632 |
|
|
|
190,763 |
|
|
|
205,068 |
|
Services |
|
23,518 |
|
|
|
23,216 |
|
|
|
93,240 |
|
|
|
77,140 |
|
Total revenues |
|
453,038 |
|
|
|
476,563 |
|
|
|
1,594,288 |
|
|
|
1,452,579 |
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
Cost of revenue (1) |
|
200,087 |
|
|
|
181,689 |
|
|
|
791,783 |
|
|
|
719,211 |
|
Research and development |
|
38,614 |
|
|
|
34,636 |
|
|
|
146,677 |
|
|
|
140,758 |
|
Selling and marketing |
|
34,360 |
|
|
|
34,473 |
|
|
|
118,352 |
|
|
|
132,639 |
|
General and administrative |
|
33,437 |
|
|
|
24,515 |
|
|
|
118,379 |
|
|
|
117,190 |
|
Depreciation and amortization |
|
24,252 |
|
|
|
28,934 |
|
|
|
110,962 |
|
|
|
122,373 |
|
Total operating expenses |
|
330,750 |
|
|
|
304,247 |
|
|
|
1,286,153 |
|
|
|
1,232,171 |
|
Operating income |
|
122,288 |
|
|
|
172,316 |
|
|
|
308,135 |
|
|
|
220,408 |
|
Other income (expense) |
|
|
|
|
|
|
|
||||||||
Interest expense |
|
(16,634 |
) |
|
|
(19,845 |
) |
|
|
(72,471 |
) |
|
|
(78,486 |
) |
Interest income |
|
4,093 |
|
|
|
3,757 |
|
|
|
15,926 |
|
|
|
14,215 |
|
Other, net |
|
511 |
|
|
|
(2,107 |
) |
|
|
(1,181 |
) |
|
|
(8,510 |
) |
Total other income (expense) |
|
(12,030 |
) |
|
|
(18,195 |
) |
|
|
(57,726 |
) |
|
|
(72,781 |
) |
Income before income taxes |
|
110,258 |
|
|
|
154,121 |
|
|
|
250,409 |
|
|
|
147,627 |
|
Income tax expense |
|
11,703 |
|
|
|
31,505 |
|
|
|
47,291 |
|
|
|
26,118 |
|
Net income |
$ |
98,555 |
|
|
$ |
122,616 |
|
|
$ |
203,118 |
|
|
$ |
121,509 |
|
Income per common share |
|
|
|
|
|
|
|
||||||||
Basic |
$ |
0.94 |
|
|
$ |
1.13 |
|
|
$ |
1.93 |
|
|
$ |
1.12 |
|
Diluted |
$ |
0.93 |
|
|
$ |
1.12 |
|
|
$ |
1.91 |
|
|
$ |
1.12 |
|
Weighted average common shares outstanding |
|
|
|
|
|
|
|
||||||||
Basic |
|
105,104 |
|
|
|
108,703 |
|
|
|
105,491 |
|
|
|
108,497 |
|
Diluted |
|
106,318 |
|
|
|
109,147 |
|
|
|
106,493 |
|
|
|
108,857 |
|
(1) The cost of revenue excludes charges for depreciation and amortization.
ACI WORLDWIDE, INC. AND SUBSIDIARIES |
|||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||||||||||
(unaudited and in thousands) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Years Ended
|
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
||||||||
Net income |
$ |
98,555 |
|
|
$ |
122,616 |
|
|
$ |
203,118 |
|
|
$ |
121,509 |
|
Adjustments to reconcile net income to net cash flows from operating activities: |
|
|
|
|
|
|
|
||||||||
Depreciation |
|
3,162 |
|
|
|
5,017 |
|
|
|
18,161 |
|
|
|
23,739 |
|
Amortization |
|
21,090 |
|
|
|
23,918 |
|
|
|
92,801 |
|
|
|
98,634 |
|
Amortization of operating lease right-of-use assets |
|
2,369 |
|
|
|
2,430 |
|
|
|
9,706 |
|
|
|
11,620 |
|
Amortization of deferred debt issuance costs |
|
655 |
|
|
|
908 |
|
|
|
2,912 |
|
|
|
4,323 |
|
Deferred income taxes |
|
(10,901 |
) |
|
|
21,122 |
|
|
|
(13,130 |
) |
|
|
(4,085 |
) |
Stock-based compensation expense |
|
11,116 |
|
|
|
7,010 |
|
|
|
41,281 |
|
|
|
24,547 |
|
Other |
|
1,740 |
|
|
|
(247 |
) |
|
|
1,920 |
|
|
|
1,921 |
|
Changes in operating assets and liabilities, net of impact of divestiture: |
|
|
|
|
|
|
|
||||||||
Receivables |
|
(27,282 |
) |
|
|
(105,010 |
) |
|
|
(23,583 |
) |
|
|
(62,998 |
) |
Accounts payable |
|
(1,026 |
) |
|
|
3,423 |
|
|
|
(268 |
) |
|
|
(3,775 |
) |
Accrued employee compensation |
|
14,012 |
|
|
|
11,025 |
|
|
|
2,887 |
|
|
|
8,146 |
|
Deferred revenue |
|
10,002 |
|
|
|
(1,699 |
) |
|
|
11,886 |
|
|
|
2,705 |
|
Other current and noncurrent assets and liabilities |
|
2,990 |
|
|
|
(4,770 |
) |
|
|
11,057 |
|
|
|
(57,769 |
) |
Net cash flows from operating activities |
|
126,482 |
|
|
|
85,743 |
|
|
|
358,748 |
|
|
|
168,517 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
||||||||
Purchases of property and equipment |
|
(6,939 |
) |
|
|
(968 |
) |
|
|
(15,402 |
) |
|
|
(8,924 |
) |
Purchases of software and distribution rights |
|
(6,471 |
) |
|
|
(6,282 |
) |
|
|
(29,649 |
) |
|
|
(28,853 |
) |
Net cash flows from investing activities |
|
(13,410 |
) |
|
|
(7,250 |
) |
|
|
(45,051 |
) |
|
|
(37,777 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
||||||||
Proceeds from issuance of common stock |
|
789 |
|
|
|
697 |
|
|
|
2,918 |
|
|
|
2,819 |
|
Proceeds from exercises of stock options |
|
4,375 |
|
|
|
3,594 |
|
|
|
6,329 |
|
|
|
6,726 |
|
Repurchase of stock-based compensation awards for tax withholdings |
|
(3,812 |
) |
|
|
(946 |
) |
|
|
(13,111 |
) |
|
|
(5,149 |
) |
Repurchases of common stock |
|
— |
|
|
|
(27,587 |
) |
|
|
(127,670 |
) |
|
|
(27,587 |
) |
Proceeds from revolving credit facility |
|
— |
|
|
|
59,000 |
|
|
|
184,000 |
|
|
|
134,000 |
|
Repayment of revolving credit facility |
|
(61,000 |
) |
|
|
(64,000 |
) |
|
|
(238,000 |
) |
|
|
(115,000 |
) |
Proceeds from term portion of credit agreement |
|
— |
|
|
|
— |
|
|
|
500,000 |
|
|
|
— |
|
Repayment of term portion of credit agreement |
|
(9,375 |
) |
|
|
(19,475 |
) |
|
|
(557,198 |
) |
|
|
(73,031 |
) |
Payments on or proceeds from other debt, net |
|
(5,555 |
) |
|
|
(4,293 |
) |
|
|
(14,854 |
) |
|
|
(16,766 |
) |
Payments for debt issuance costs |
|
— |
|
|
|
— |
|
|
|
(5,141 |
) |
|
|
(2,160 |
) |
Net decrease in settlement assets and liabilities |
|
(43,174 |
) |
|
|
(10,769 |
) |
|
|
(25,470 |
) |
|
|
(15,404 |
) |
Net cash flows from financing activities |
|
(117,752 |
) |
|
|
(63,779 |
) |
|
|
(288,197 |
) |
|
|
(111,552 |
) |
Effect of exchange rate fluctuations on cash |
|
1,028 |
|
|
|
573 |
|
|
|
697 |
|
|
|
4,961 |
|
Net increase (decrease) in cash and cash equivalents |
|
(3,652 |
) |
|
|
15,287 |
|
|
|
26,197 |
|
|
|
24,149 |
|
Cash and cash equivalents, including settlement deposits, beginning of period |
|
268,670 |
|
|
|
223,534 |
|
|
|
238,821 |
|
|
|
214,672 |
|
Cash and cash equivalents, including settlement deposits, end of period |
$ |
265,018 |
|
|
$ |
238,821 |
|
|
$ |
265,018 |
|
|
$ |
238,821 |
|
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets |
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents |
$ |
216,394 |
|
|
$ |
164,239 |
|
|
$ |
216,394 |
|
|
$ |
164,239 |
|
Settlement deposits |
|
48,624 |
|
|
|
74,582 |
|
|
|
48,624 |
|
|
|
74,582 |
|
Total cash and cash equivalents |
$ |
265,018 |
|
|
$ |
238,821 |
|
|
$ |
265,018 |
|
|
$ |
238,821 |
|
Adjusted EBITDA (millions) |
Three Months Ended
|
|
Years Ended
|
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net income |
$ |
98.6 |
|
|
$ |
122.6 |
|
|
$ |
203.1 |
|
|
$ |
121.5 |
|
Plus: |
|
|
|
|
|
|
|
||||||||
Income tax expense |
|
11.7 |
|
|
|
31.5 |
|
|
|
47.3 |
|
|
|
26.1 |
|
Net interest expense |
|
12.5 |
|
|
|
16.1 |
|
|
|
56.5 |
|
|
|
64.3 |
|
Net other (income) expense |
|
(0.5 |
) |
|
|
2.1 |
|
|
|
1.2 |
|
|
|
8.5 |
|
Depreciation expense |
|
3.2 |
|
|
|
5.0 |
|
|
|
18.2 |
|
|
|
23.7 |
|
Amortization expense |
|
21.1 |
|
|
|
23.9 |
|
|
|
92.8 |
|
|
|
98.6 |
|
Non-cash stock-based compensation expense |
|
11.1 |
|
|
|
7.0 |
|
|
|
41.3 |
|
|
|
24.5 |
|
Adjusted EBITDA before significant transaction-related expenses |
$ |
157.7 |
|
|
$ |
208.2 |
|
|
$ |
460.4 |
|
|
$ |
367.2 |
|
Significant transaction-related expenses: |
|
|
|
|
|
|
|
||||||||
Cost reduction strategies |
|
— |
|
|
|
1.3 |
|
|
|
4.3 |
|
|
|
21.0 |
|
European datacenter migration |
|
— |
|
|
|
0.2 |
|
|
|
— |
|
|
|
2.8 |
|
Other |
|
— |
|
|
|
— |
|
|
|
1.0 |
|
|
|
4.4 |
|
Adjusted EBITDA |
$ |
157.7 |
|
|
$ |
209.7 |
|
|
$ |
465.7 |
|
|
$ |
395.4 |
|
Revenue, net of interchange: |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
453.0 |
|
|
$ |
476.6 |
|
|
$ |
1,594.3 |
|
|
$ |
1,452.6 |
|
Interchange |
|
115.7 |
|
|
|
106.1 |
|
|
|
469.4 |
|
|
|
421.1 |
|
Revenue, net of interchange |
$ |
337.3 |
|
|
$ |
370.5 |
|
|
$ |
1,124.9 |
|
|
$ |
1,031.5 |
|
|
|
|
|
|
|
|
|
||||||||
Net adjusted EBITDA Margin |
|
47 |
% |
|
|
57 |
% |
|
|
41 |
% |
|
|
38 |
% |
Segment Information (millions) |
Three Months Ended
|
|
Years Ended
|
||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
Revenue |
|
|
|
|
|
|
|
||||
Banks |
$ |
230.8 |
|
$ |
254.9 |
|
$ |
701.9 |
|
$ |
616.1 |
Merchants |
|
42.0 |
|
|
43.0 |
|
|
165.9 |
|
|
150.6 |
Billers |
|
180.2 |
|
|
178.7 |
|
|
726.5 |
|
|
685.9 |
Total |
$ |
453.0 |
|
$ |
476.6 |
|
$ |
1,594.3 |
|
$ |
1,452.6 |
Recurring revenue |
|
|
|
|
|
|
|
||||
Banks |
$ |
54.7 |
|
$ |
58.2 |
|
$ |
221.8 |
|
$ |
229.4 |
Merchants |
|
35.3 |
|
|
37.9 |
|
|
140.4 |
|
|
138.9 |
Billers |
|
180.2 |
|
|
178.7 |
|
|
726.5 |
|
|
685.9 |
Total |
$ |
270.2 |
|
$ |
274.8 |
|
$ |
1,088.7 |
|
$ |
1,054.2 |
Segment adjusted EBITDA |
|
|
|
|
|
|
|
||||
Banks |
$ |
150.7 |
|
$ |
188.2 |
|
$ |
425.5 |
|
$ |
355.5 |
Merchants |
|
16.8 |
|
|
17.5 |
|
|
69.5 |
|
|
44.3 |
Billers |
|
32.1 |
|
|
42.2 |
|
|
131.2 |
|
|
142.3 |
Note: Amounts may not recalculate due to rounding.
EPS Impact of Non-cash and Significant Transaction-related Items (millions) |
Three Months Ended December 31, |
||||||||||
|
2024 |
|
2023 |
||||||||
|
EPS Impact |
|
$ in Millions (Net of Tax) |
|
EPS Impact |
|
$ in Millions (Net of Tax) |
||||
GAAP net income |
$ |
0.93 |
|
$ |
98.6 |
|
$ |
1.12 |
|
$ |
122.6 |
Adjusted for: |
|
|
|
|
|
|
|
||||
Significant transaction-related expenses |
|
— |
|
|
— |
|
|
0.01 |
|
|
1.1 |
Amortization of acquisition-related intangibles |
|
0.04 |
|
|
4.5 |
|
|
0.06 |
|
|
6.4 |
Amortization of acquisition-related software |
|
0.03 |
|
|
3.3 |
|
|
0.03 |
|
|
3.5 |
Non-cash stock-based compensation |
|
0.08 |
|
|
8.8 |
|
|
0.05 |
|
|
5.3 |
Total adjustments |
$ |
0.15 |
|
$ |
16.6 |
|
$ |
0.15 |
|
$ |
16.3 |
Diluted EPS adjusted for non-cash and significant transaction-related items |
$ |
1.08 |
|
$ |
115.2 |
|
$ |
1.27 |
|
$ |
138.9 |
EPS Impact of Non-cash and Significant Transaction-related Items (millions) |
Years Ended December 31, |
||||||||||
|
2024 |
|
2023 |
||||||||
|
EPS Impact |
|
$ in Millions (Net of Tax) |
|
EPS Impact |
|
$ in Millions (Net of Tax) |
||||
GAAP net income |
$ |
1.91 |
|
$ |
203.1 |
|
$ |
1.12 |
|
$ |
121.5 |
Adjusted for: |
|
|
|
|
|
|
|
||||
Significant transaction-related expenses |
|
0.07 |
|
|
7.4 |
|
|
0.19 |
|
|
21.1 |
Amortization of acquisition-related intangibles |
|
0.22 |
|
|
23.3 |
|
|
0.24 |
|
|
25.7 |
Amortization of acquisition-related software |
|
0.13 |
|
|
13.8 |
|
|
0.14 |
|
|
15.5 |
Non-cash stock-based compensation |
|
0.31 |
|
|
32.6 |
|
|
0.17 |
|
|
18.7 |
Total adjustments |
$ |
0.73 |
|
$ |
77.1 |
|
$ |
0.74 |
|
$ |
81.0 |
Diluted EPS adjusted for non-cash and significant transaction-related items |
$ |
2.64 |
|
$ |
280.2 |
|
$ |
1.86 |
|
$ |
202.5 |
Recurring Revenue (millions) |
Three Months Ended
|
|
Years Ended
|
||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
SaaS and PaaS fees |
$ |
223.5 |
|
$ |
223.2 |
|
$ |
898.0 |
|
$ |
849.1 |
Maintenance fees |
|
46.7 |
|
|
51.6 |
|
|
190.8 |
|
|
205.1 |
Recurring revenue |
$ |
270.2 |
|
$ |
274.8 |
|
$ |
1,088.7 |
|
$ |
1,054.2 |
New Bookings (millions) |
Three Months Ended
|
|
Years Ended
|
||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
Annual recurring revenue (ARR) bookings |
$ |
35.2 |
|
$ |
28.8 |
|
$ |
65.7 |
|
$ |
73.5 |
License and services bookings |
|
115.1 |
|
|
106.5 |
|
|
290.0 |
|
|
239.2 |
Note: Amounts may not recalculate due to rounding.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250227238651/en/
For more information contact:
Investor Relations
John Kraft
SVP, Head of Strategy and Finance
305-894-2223 / john.kraft@aciworldwide.com
Source: ACI Worldwide
FAQ
What was ACI Worldwide's (ACIW) revenue growth in 2024?
How much did ACIW's net income increase in 2024?
What is ACIW's revenue guidance for 2025?
How much stock did ACIW repurchase in 2024?
What was ACIW's cash position and debt leverage at the end of 2024?
