ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended September 30, 2024

Q3 2024 HIGHLIGHTS

  • Revenue up 24% versus Q3 2023
  • Net income up 115% versus Q3 2023
  • Adjusted EBITDA up 61% versus Q3 2023
  • Cash flow from operating activities up 114% versus Q3 2023
  • Raising guidance range for full-year 2024

OMAHA, Neb.--()--ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, announced financial results today for the quarter ended September 30, 2024.

“We are very pleased with our third quarter results and the continued positive momentum in the business. We saw particular strength within our Bank and Merchant segments and are once again raising our full-year outlook,” said Thomas Warsop, president and CEO of ACI Worldwide. “This year the team has done a tremendous job signing renewal contracts earlier in the year. This initiative is enabling our commercial team to spend more time on prospects and winning new business, which has allowed us to outperform our forecasts. Further, signing these new contracts earlier in the year helps reduce the heavy seasonality we have historically seen and simply reduces the risk of attaining our full-year financial guidance.

“Our pipelines remain strong across our segments, and we are well-positioned for future growth as we continue to invest in innovation, execute on our strategy, and deliver value to our customers and shareholders.”

“Our cash flow from operating activities increased 114% over Q3 last year and we exited the quarter with net debt leverage ratio of 1.6x adjusted EBITDA, with approximately $650 million in liquidity,” said Scott Behrens, chief financial officer of ACI Worldwide. “Our strong cash flow growth and our lowest leverage in over a decade, combined with our improved outlook for 2024 and our expectations for continued strength in 2025, enable us to reduce our long-term stated leverage target from 2.5x to 2.0x. We will continue to maintain a disciplined, long-term focused capital allocation strategy that balances re-investment in the business, accretive M&A and share repurchases, while maintaining a strong balance sheet with ample liquidity and financial flexibility.”

FINANCIAL SUMMARY

In Q3 2024, revenue was $452 million, up 24% from Q3 2023. Net income was $81 million, up 115% from $38 million in Q3 2023. Adjusted EBITDA in Q3 2024 was $167 million, up 61% from Q3 2023. Cash flow from operating activities in Q3 2024 was $54 million, up 114% from $25 million in Q3 2023.

  • Bank segment revenue increased 43% in Q3 2024 and Bank segment adjusted EBITDA increased 69% versus Q3 2023.
  • Merchant segment revenue increased 38% in Q3 2024 and Merchant segment adjusted EBITDA increased 159% versus Q3 2023.
  • Biller segment revenue increased 5% in Q3 2024 and Biller segment adjusted EBITDA decreased 21%. Q3 2023 included certain one-time non-recurring margin benefits that did not recur in Q3 2024.

ACI ended Q3 2024 with $178 million in cash on hand and a debt balance of $1 billion, which represents a net debt leverage ratio of 1.6x adjusted EBITDA.

During the quarter the company repurchased approximately 200,000 shares for $8 million in capital and year-to-date 2024 has repurchased approximately 4 million shares for $128 million in capital. At the end of the quarter, the company had $372 million remaining available on the share repurchase authorization.

RAISING 2024 GUIDANCE

For the full year of 2024, we are raising our guidance for both revenue and adjusted EBITDA. We now expect revenue to be in the range of $1.567 billion to $1.601 billion, up from the range of $1.557 billion to $1.591 billion. We now expect adjusted EBITDA to be in the range of $433 million to $448 million, up from the range of $423 million to $438 million.

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 banksbillers, 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. 2024.

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 the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners.

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) the continued positive momentum in the business, (ii) our pipelines remain strong across our segments, and we are well-positioned for future growth as we continue to invest in innovation, execute on our strategy, and deliver value to our customers and shareholders, (iii) we will continue to maintain a disciplined, long-term focused capital allocation strategy that balances re-investment in the business, accretive M&A and share repurchases, while maintaining a strong balance sheet with ample liquidity and financial flexibility (iv) target leverage and full-year 2024 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 or failure of our information technology and communication systems, security breaches or viruses, 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, 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 Europe and the Middle East, adverse changes in the global economy, compliance of our products with applicable legislation, governmental regulations and industry standards, the complexity of our products and services and the risk that they may contain hidden defects, complex regulations applicable to our payments business, our compliance with privacy and cybersecurity regulations, exposure to unknown tax liabilities, changes in tax laws and regulations, consolidations and failures in the financial services industry, volatility in our stock price, demand for our products, failure to obtain renewals of customer contracts or to obtain such renewals on favorable terms, delay or cancellation of customer projects or inaccurate project completion estimates, impairment of our goodwill or intangible assets, the accuracy of management’s backlog estimates, the cyclical nature of our revenue and earnings and the accuracy of forecasts due to the concentration of revenue-generating activity during the final weeks of each quarter, restrictions and other financial covenants in our debt agreements, our existing levels of debt, events outside of our control including natural disasters, wars, and outbreaks of disease, and revenues or revenue mix. For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q.

 

ACI WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited and in thousands)

 

 

September 30,
2024

 

December 31,
2023

ASSETS

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

177,860

 

 

$

164,239

 

Receivables, net of allowances

 

424,518

 

 

 

452,337

 

Settlement assets

 

428,479

 

 

 

723,039

 

Prepaid expenses

 

31,878

 

 

 

31,479

 

Other current assets

 

22,865

 

 

 

35,551

 

Total current assets

 

1,085,600

 

 

 

1,406,645

 

Noncurrent assets

 

 

 

Accrued receivables, net

 

338,977

 

 

 

313,983

 

Property and equipment, net

 

31,441

 

 

 

37,856

 

Operating lease right-of-use assets

 

29,181

 

 

 

34,338

 

Software, net

 

90,313

 

 

 

108,418

 

Goodwill

 

1,226,026

 

 

 

1,226,026

 

Intangible assets, net

 

172,310

 

 

 

195,646

 

Deferred income taxes, net

 

64,674

 

 

 

58,499

 

Other noncurrent assets

 

54,463

 

 

 

63,328

 

TOTAL ASSETS

$

3,092,985

 

 

$

3,444,739

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities

 

 

 

Accounts payable

$

47,912

 

 

$

45,964

 

Settlement liabilities

 

428,080

 

 

 

721,164

 

Employee compensation

 

42,806

 

 

 

53,892

 

Current portion of long-term debt

 

34,910

 

 

 

74,405

 

Deferred revenue

 

68,550

 

 

 

59,580

 

Other current liabilities

 

75,036

 

 

 

82,244

 

Total current liabilities

 

697,294

 

 

 

1,037,249

 

Noncurrent liabilities

 

 

 

Deferred revenue

 

19,315

 

 

 

24,780

 

Long-term debt

 

959,387

 

 

 

963,599

 

Deferred income taxes, net

 

38,439

 

 

 

40,735

 

Operating lease liabilities

 

23,601

 

 

 

29,074

 

Other noncurrent liabilities

 

25,319

 

 

 

25,005

 

Total liabilities

 

1,763,355

 

 

 

2,120,442

 

Commitments and contingencies

 

 

 

Stockholders’ equity

 

 

 

Preferred stock

 

 

 

 

 

Common stock

 

702

 

 

 

702

 

Additional paid-in capital

 

725,724

 

 

 

712,994

 

Retained earnings

 

1,499,530

 

 

 

1,394,967

 

Treasury stock

 

(791,353

)

 

 

(674,896

)

Accumulated other comprehensive loss

 

(104,973

)

 

 

(109,470

)

Total stockholders’ equity

 

1,329,630

 

 

 

1,324,297

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

3,092,985

 

 

$

3,444,739

 

 

ACI WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in thousands, except per share amounts)

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Revenues

 

 

 

 

 

 

 

Software as a service and platform as a service

$

223,367

 

 

$

211,369

 

 

$

674,498

 

 

$

625,975

 

License

 

157,429

 

 

 

79,679

 

 

 

252,984

 

 

 

142,681

 

Maintenance

 

47,559

 

 

 

51,942

 

 

 

144,046

 

 

 

153,436

 

Services

 

23,397

 

 

 

20,025

 

 

 

69,722

 

 

 

53,924

 

Total revenues

 

451,752

 

 

 

363,015

 

 

 

1,141,250

 

 

 

976,016

 

Operating expenses

 

 

 

 

 

 

 

Cost of revenue (1)

 

197,351

 

 

 

177,625

 

 

 

591,696

 

 

 

537,522

 

Research and development

 

37,660

 

 

 

33,739

 

 

 

108,063

 

 

 

106,122

 

Selling and marketing

 

28,691

 

 

 

29,442

 

 

 

83,992

 

 

 

98,166

 

General and administrative

 

33,949

 

 

 

29,821

 

 

 

84,942

 

 

 

92,675

 

Depreciation and amortization

 

31,515

 

 

 

30,464

 

 

 

86,710

 

 

 

93,439

 

Total operating expenses

 

329,166

 

 

 

301,091

 

 

 

955,403

 

 

 

927,924

 

Operating income

 

122,586

 

 

 

61,924

 

 

 

185,847

 

 

 

48,092

 

Other income (expense)

 

 

 

 

 

 

 

Interest expense

 

(18,356

)

 

 

(19,840

)

 

 

(55,837

)

 

 

(58,641

)

Interest income

 

3,871

 

 

 

3,495

 

 

 

11,833

 

 

 

10,458

 

Other, net

 

(823

)

 

 

1,084

 

 

 

(1,692

)

 

 

(6,403

)

Total other income (expense)

 

(15,308

)

 

 

(15,261

)

 

 

(45,696

)

 

 

(54,586

)

Income (loss) before income taxes

 

107,278

 

 

 

46,663

 

 

 

140,151

 

 

 

(6,494

)

Income tax expense (benefit)

 

25,851

 

 

 

8,752

 

 

 

35,588

 

 

 

(5,387

)

Net income (loss)

$

81,427

 

 

$

37,911

 

 

$

104,563

 

 

$

(1,107

)

Income (loss) per common share

 

 

 

 

 

 

 

Basic

$

0.78

 

 

$

0.35

 

 

$

0.99

 

 

$

(0.01

)

Diluted

$

0.77

 

 

$

0.35

 

 

$

0.98

 

 

$

(0.01

)

Weighted average common shares outstanding

 

 

 

 

 

 

 

Basic

 

104,770

 

 

 

108,667

 

 

 

105,651

 

 

 

108,428

 

Diluted

 

106,018

 

 

 

108,933

 

 

 

106,552

 

 

 

108,428

 

 

(1) The cost of revenue excludes charges for depreciation and amortization.

 

ACI WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited and in thousands)

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Cash flows from operating activities:

 

 

 

 

 

 

 

Net income (loss)

$

81,427

 

 

$

37,911

 

 

$

104,563

 

 

$

(1,107

)

Adjustments to reconcile net income (loss) to net cash flows from operating activities:

 

 

 

 

 

 

 

Depreciation

 

7,804

 

 

 

5,631

 

 

 

14,999

 

 

 

18,722

 

Amortization

 

23,711

 

 

 

24,832

 

 

 

71,711

 

 

 

74,716

 

Amortization of operating lease right-of-use assets

 

2,338

 

 

 

2,699

 

 

 

7,337

 

 

 

9,190

 

Amortization of deferred debt issuance costs

 

659

 

 

 

923

 

 

 

2,257

 

 

 

3,415

 

Deferred income taxes

 

(3,745

)

 

 

(2,566

)

 

 

(2,229

)

 

 

(25,207

)

Stock-based compensation expense

 

11,346

 

 

 

6,822

 

 

 

30,165

 

 

 

17,537

 

Other

 

2,247

 

 

 

1,857

 

 

 

180

 

 

 

2,168

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Receivables

 

(95,899

)

 

 

(39,844

)

 

 

3,699

 

 

 

42,012

 

Accounts payable

 

(4,091

)

 

 

(5,244

)

 

 

758

 

 

 

(7,198

)

Accrued employee compensation

 

8,759

 

 

 

1,749

 

 

 

(11,125

)

 

 

(2,879

)

Deferred revenue

 

(6,433

)

 

 

(8,296

)

 

 

1,884

 

 

 

4,404

 

Other current and noncurrent assets and liabilities

 

25,885

 

 

 

(1,208

)

 

 

8,067

 

 

 

(52,999

)

Net cash flows from operating activities

 

54,008

 

 

 

25,266

 

 

 

232,266

 

 

 

82,774

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchases of property and equipment

 

(3,509

)

 

 

(3,380

)

 

 

(8,463

)

 

 

(7,956

)

Purchases of software and distribution rights

 

(4,154

)

 

 

(7,550

)

 

 

(23,178

)

 

 

(22,571

)

Net cash flows from investing activities

 

(7,663

)

 

 

(10,930

)

 

 

(31,641

)

 

 

(30,527

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from issuance of common stock

 

732

 

 

 

696

 

 

 

2,129

 

 

 

2,122

 

Proceeds from exercises of stock options

 

1,202

 

 

 

263

 

 

 

1,954

 

 

 

3,132

 

Repurchase of stock-based compensation awards for tax withholdings

 

(2,960

)

 

 

(883

)

 

 

(9,299

)

 

 

(4,203

)

Repurchases of common stock

 

(7,996

)

 

 

 

 

 

(127,670

)

 

 

 

Proceeds from revolving credit facility

 

20,000

 

 

 

20,000

 

 

 

184,000

 

 

 

75,000

 

Repayment of revolving credit facility

 

(25,000

)

 

 

(6,000

)

 

 

(177,000

)

 

 

(51,000

)

Proceeds from term portion of credit agreement

 

 

 

 

 

 

 

500,000

 

 

 

 

Repayment of term portion of credit agreement

 

(9,375

)

 

 

(19,475

)

 

 

(547,823

)

 

 

(53,556

)

Payments on or proceeds from other debt, net

 

(630

)

 

 

(643

)

 

 

(9,299

)

 

 

(12,473

)

Payments for debt issuance costs

 

 

 

 

 

 

 

(5,141

)

 

 

(2,160

)

Net increase (decrease) in settlement assets and liabilities

 

23,855

 

 

 

19,452

 

 

 

17,704

 

 

 

(4,635

)

Net cash flows from financing activities

 

(172

)

 

 

13,410

 

 

 

(170,445

)

 

 

(47,773

)

Effect of exchange rate fluctuations on cash

 

(1,621

)

 

 

(1,039

)

 

 

(331

)

 

 

4,388

 

Net increase in cash and cash equivalents

 

44,552

 

 

 

26,707

 

 

 

29,849

 

 

 

8,862

 

Cash and cash equivalents, including settlement deposits, beginning of period

 

224,118

 

 

 

196,827

 

 

 

238,821

 

 

 

214,672

 

Cash and cash equivalents, including settlement deposits, end of period

$

268,670

 

 

$

223,534

 

 

$

268,670

 

 

$

223,534

 

Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets

 

 

 

 

 

 

 

Cash and cash equivalents

$

177,860

 

 

$

139,520

 

 

$

177,860

 

 

$

139,520

 

Settlement deposits

 

90,810

 

 

 

84,014

 

 

 

90,810

 

 

 

84,014

 

Total cash and cash equivalents

$

268,670

 

 

$

223,534

 

 

$

268,670

 

 

$

223,534

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

Adjusted EBITDA (millions)

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Net income (loss)

$

81.4

 

 

$

37.9

 

 

$

104.6

 

 

$

(1.1

)

Plus:

 

 

 

 

 

 

 

Income tax expense (benefit)

 

25.9

 

 

 

8.7

 

 

 

35.6

 

 

 

(5.4

)

Net interest expense

 

14.5

 

 

 

16.4

 

 

 

44.0

 

 

 

48.2

 

Net other (income) expense

 

0.8

 

 

 

(1.1

)

 

 

1.7

 

 

 

6.4

 

Depreciation expense

 

7.8

 

 

 

5.6

 

 

 

15.0

 

 

 

18.7

 

Amortization expense

 

23.7

 

 

 

24.8

 

 

 

71.7

 

 

 

74.7

 

Non-cash stock-based compensation expense

 

11.3

 

 

 

6.8

 

 

 

30.2

 

 

 

17.5

 

Adjusted EBITDA before significant transaction-related expenses

$

165.4

 

 

$

99.1

 

 

$

302.8

 

 

$

159.0

 

Significant transaction-related expenses:

 

 

 

 

 

 

 

Cost reduction strategies

 

1.2

 

 

 

3.8

 

 

 

4.3

 

 

 

19.7

 

European datacenter migration

 

 

 

 

0.4

 

 

 

 

 

 

2.6

 

Other

 

0.3

 

 

 

0.1

 

 

 

1.0

 

 

 

4.4

 

Adjusted EBITDA

$

166.9

 

 

$

103.4

 

 

$

308.1

 

 

$

185.7

 

Revenue, net of interchange:

 

 

 

 

 

 

 

Revenue

$

451.8

 

 

$

363.0

 

 

$

1,141.3

 

 

$

976.0

 

Interchange

 

117.1

 

 

 

102.7

 

 

 

353.6

 

 

 

315.0

 

Revenue, net of interchange

$

334.7

 

 

$

260.3

 

 

$

787.7

 

 

$

661.0

 

 

 

 

 

 

 

 

 

Net Adjusted EBITDA Margin

 

50

%

 

 

40

%

 

 

39

%

 

 

28

%

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

Segment Information (millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

Revenue

 

 

 

 

 

 

 

Banks

$

222.0

 

$

155.7

 

$

471.1

 

$

361.2

Merchants

 

50.2

 

 

36.3

 

 

123.9

 

 

107.6

Billers

 

179.6

 

 

171.0

 

 

546.3

 

 

507.2

Total

$

451.8

 

$

363.0

 

$

1,141.3

 

$

976.0

Recurring Revenue

 

 

 

 

 

 

 

Banks

$

55.6

 

$

58.2

 

$

167.1

 

$

171.2

Merchants

 

35.7

 

 

34.1

 

 

105.1

 

 

101.0

Billers

 

179.6

 

 

171.0

 

 

546.3

 

 

507.2

Total

$

270.9

 

$

263.3

 

$

818.5

 

$

779.4

Segment Adjusted EBITDA

 

 

 

 

 

 

 

Banks

$

153.9

 

$

91.0

 

$

274.8

 

$

167.3

Merchants

 

26.7

 

 

10.3

 

 

52.7

 

 

26.8

Billers

 

30.9

 

 

39.2

 

 

99.1

 

 

100.1

 

Note: Amounts may not recalculate due to rounding.

 

 

Three Months Ended September 30,

 

2024

 

2023

EPS Impact of Non-cash and Significant Transaction-related Items (millions)

EPS Impact

 

$ in Millions

(Net of Tax)

 

EPS Impact

 

$ in Millions

(Net of Tax)

GAAP net income

$

0.77

 

$

81.4

 

$

0.35

 

$

37.9

Adjusted for:

 

 

 

 

 

 

 

Significant transaction-related expenses

 

0.04

 

 

4.5

 

 

0.03

 

 

3.3

Amortization of acquisition-related intangibles

 

0.05

 

 

5.4

 

 

0.06

 

 

6.4

Amortization of acquisition-related software

 

0.03

 

 

3.4

 

 

0.03

 

 

3.8

Non-cash stock-based compensation

 

0.08

 

 

8.6

 

 

0.05

 

 

5.2

Total adjustments

$

0.20

 

$

21.9

 

$

0.17

 

$

18.7

Diluted EPS adjusted for non-cash and significant transaction-related items

$

0.97

 

$

103.3

 

$

0.52

 

$

56.6

 

 

Nine Months Ended September 30,

 

2024

 

2023

EPS Impact of Non-cash and Significant Transaction-related Items (millions)

EPS Impact

 

$ in Millions

(Net of Tax)

 

EPS Impact

 

$ in Millions

(Net of Tax)

GAAP net income (loss)

$

0.98

 

$

104.6

 

$

(0.01

)

 

$

(1.1

)

Adjusted for:

 

 

 

 

 

 

 

Significant transaction-related expenses

 

0.07

 

 

7.4

 

 

0.19

 

 

 

20.4

 

Amortization of acquisition-related intangibles

 

0.17

 

 

18.1

 

 

0.18

 

 

 

19.3

 

Amortization of acquisition-related software

 

0.09

 

 

10.1

 

 

0.11

 

 

 

12.0

 

Non-cash stock-based compensation

 

0.21

 

 

22.9

 

 

0.12

 

 

 

13.3

 

Total adjustments

$

0.54

 

$

58.5

 

$

0.60

 

 

$

65.0

 

Diluted EPS adjusted for non-cash and significant transaction-related items

$

1.52

 

$

163.1

 

$

0.59

 

 

$

63.9

 

 

 

Three Months Ended

September 30,

 

Nine Months Ended

September 30,

Recurring Revenue (millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

SaaS and PaaS fees

$

223.4

 

$

211.4

 

$

674.5

 

$

626.0

Maintenance fees

 

47.5

 

 

51.9

 

 

144.0

 

 

153.4

Recurring Revenue

$

270.9

 

$

263.3

 

$

818.5

 

$

779.4

New Bookings (millions)

Three Months Ended

September 30,

 

TTM Ended September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

Annual recurring revenue (ARR) bookings

$

11.1

 

$

20.5

 

$

59.3

 

$

84.9

License and services bookings

 

67.0

 

 

54.1

 

 

281.5

 

 

224.5

 

Note: Amounts may not recalculate due to rounding.

 

Contacts

For more information contact:

Investor Relations
John Kraft
SVP, Head of Strategy and Finance
239-403-4627 / john.kraft@aciworldwide.com

Contacts

For more information contact:

Investor Relations
John Kraft
SVP, Head of Strategy and Finance
239-403-4627 / john.kraft@aciworldwide.com