Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended June 30, 2020
Q2 HIGHLIGHTS Revenue of $300 million, up 1% from Q2 last year Recurring revenue was 78% of total revenue, up from 75% in Q2 last year Net income of $14
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nQ2 HIGHLIGHTS\n\n\n\nRevenue of $300 million, up 1% from Q2 last year\n\n\nRecurring revenue was 78% of total revenue, up from 75% in Q2 last year\n\n\nNet income of $14 million, up 146% from Q2 last year\n\n\nAdjusted EBITDA of $78 million, up 42% from Q2 last year\n\n\nCash flow from operations of $68 million, up 371% from Q2 last year\n\n\n NAPLES, Fla.--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced financial results for the quarter ended June 30, 2020.\n\n\n“Despite the continued challenges presented by the COVID-19 pandemic, our focus on maximizing profitability, coupled with our resilient business model, produced significant EBITDA growth of 42% and margin expansion of 1,000 basis points versus the second quarter of last year,” said Odilon Almeida, President and CEO of ACI Worldwide. “ACI’s substantial recurring revenue, reliable cash flows, and high customer retention continue to provide stability as we navigate the macroeconomic landscape. We are also making significant progress in developing and implementing our three-pillar strategy, namely, Fit for Growth, Focused on Growth, and Step Change Value Creation. Guided by these three fundamental pillars and with a sense of urgency, we will build an agile and nimble organization with a best in class global sales process; we will focus our investment on growing geographies, segments and products; and we will pursue M&A opportunities that will drive step-change value creation. We are confident that we have the right team, assets, and three-pillar strategy to build a financially stronger and operationally superior company that is well positioned for continuous profitable growth and significant value creation.”\n\n\nQ2 2020 FINANCIAL RESULTS\n\n\nNew bookings in the quarter were $136 million, up 6% compared to Q2 last year.\n\n\nRevenue in the quarter was $300 million, up 1% compared to Q2 2019, or up 2% after adjusting for foreign currency fluctuations. Total recurring revenue was up 4% compared to Q2 last year and comprised 78% of total revenue in Q2 2020 compared to 75% of total revenue in Q2 last year.\n\n\nNet income in the quarter was $14 million, up 146% compared to Q2 last year. Adjusted EBITDA in the quarter was $78 million, up 42% compared to Q2 last year. Net adjusted E...