Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter and Full Year Ended December 31, 2019
2019 HIGHLIGHTS Revenue up 25% from 2018 Recurring revenue grew to 71% of total revenue from 65% in 2018 Net income of $67 million Adjusted EBITDA up 23%
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\n2019 HIGHLIGHTS\n\n\n\nRevenue up 25% from 2018\n\n\n\n\nRecurring revenue grew to 71% of total revenue from 65% in 2018\n\n\n\n\nNet income of $67 million\n\n\n\n\nAdjusted EBITDA up 23% from 2018\n\n\n\n\nOn Demand net adjusted EBITDA margin improved to 19% from 5% in 2018\n\n\n NAPLES, Fla.--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, announced financial results today for the quarter and full year ended December 31, 2019.\n\n\n“As previously announced, our 2019 results were impacted by a delayed contract. Notwithstanding the contract delay, 2019 was a positive year for ACI and we are very pleased with our business overall. The Speedpay acquisition brought us a leadership position in electronic bill payment and contributed to materially improved profitability in our On Demand segment. We also delivered strong growth in our Real-Time Payments and eCommerce solutions,” said Craig Saks, Interim President and CEO, ACI Worldwide. “We enter 2020 with a strong pipeline and solid growth expectations. Further, we are excited about the appointment of Odilon Almeida as our President and CEO and look forward to his leadership and contributions in realizing our long-term growth plans.”\n\n\nFULL YEAR 2019 FINANCIAL SUMMARY\n\n\nFull year 2019 revenue was $1.26 billion, up 25% from $1.0 billion in 2018. Adjusting for the Speedpay contribution, full year revenue grew 2% from 2018. Total recurring revenue increased 37% in the year to $891 million, or 71% of total revenue, from $652 million, or 65% of total revenue in 2018.\n\n\nNet income in 2019 was $67 million compared to $69 million in 2018. Adjusted EBITDA in 2019 was $308 million, up 23% from $251 million in 2018.\n\n\nIn 2019, revenue from ACI’s On Demand segment was $679 million, up 57% from $433 million in 2018. On Demand segment net adjusted EBITDA margin improved to 19% from 5% in 2018. On Demand segment net adjusted EBITDA margins are adjusted for pass through interchange revenue of $322 million and $170 million, for 2019 and 2018, respectively.\n\n\nACI’s On Premise segment revenue was $579 million, up slightly from $577 million in 2018. On Premise segment adjusted EBITDA margin was 55%.\n\n\nACI ended 2019 with a 12-month backlog of $1.1 billion and a 60-month backlog of $5.8 billion. After ad...