Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter and Full Year Ended December 31, 2022
2022 HIGHLIGHTS Revenue of $1.422 billion, up 7% from 2021 adjusted for FX and divestiture1 ARR2 bookings up 35% from 2021 Repurchased 8.6 million shares for
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\n2022 HIGHLIGHTS\n\n\nRevenue of $1.422 billion, up 7% from 2021 adjusted for FX and divestiture1\n\n\nARR2 bookings up 35% from 2021\n\n\nRepurchased 8.6 million shares for $207 million\n\n\nIncreased repurchase authorization up to $200 million\n\n\n MIAMI--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software, announced financial results today for the quarter and full year ended December 31, 2022.\n\n\"2022 was an important year for ACI, with significant new business wins, solid organic revenue growth and accelerating ARR bookings,” said Thomas Warsop, Interim President and CEO of ACI Worldwide. “Looking forward, we are excited about the opportunities across our businesses, particularly in Real Time and the Cloud, and confident in our ability to achieve our long term revenue growth target of 7-9% by 2024. We are making progress in our CEO search and expect to conclude the search in the coming months.”\n\nFINANCIAL SUMMARY\nIn Q4 2022, revenue was $452 million, down from $467 million in Q4 2021. Net income was $90 million, versus $109 million in Q4 2021. Adjusted EBITDA in Q4 2022 was $194 million, versus $205 million in Q4 2021.\n\nFull-year 2022 total revenue was $1.422 billion, up 4% from 2021, or 7% adjusted for FX and the divestiture. Net income of $142 million increased 11% from $128 million in 2021. Total adjusted EBITDA in 2022 was $373 million compared to $384 million in 2021. Consolidated ARR bookings for 2022 grew 35% over 2021.\n\n\nBank segment revenue increased 9% and Bank segment adjusted EBITDA increased 4%, versus 2021, adjusted for FX and the divestiture.\n\n\nMerchant segment revenue increased 5% and Merchant segment adjusted EBITDA decreased 4%, versus 2021 on a constant currency basis, driven by investment that is expected to increase growth in 2023.\n\n\nBiller segment revenue increased 6%, while Biller segment adjusted EBITDA decreased 17%, versus 2021, driven by increased interchange costs due to inflationary increases in average bill size.\n\n\nACI ended 2022 with $125 million in cash on hand and a debt balance of $1 billion, which represents a net debt leverage ratio of 2.6x. The company repurchased 8.6 million shares for $207 million during the year and the Board has approved an increase in the share repurchase authorization up to $200 mil...