Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended March 31, 2020
Q1 HIGHLIGHTS Revenue of $291 million, up 42% from Q1 last year Recurring revenue was 84% of total revenue, up from 80% in Q1 last year Adjusted EBITDA of
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nQ1 HIGHLIGHTS\n\n\n\nRevenue of $291 million, up 42% from Q1 last year\n\n\n\n\nRecurring revenue was 84% of total revenue, up from 80% in Q1 last year\n\n\n\n\nAdjusted EBITDA of $38 million with net adjusted margin increasing to 19% from 5% in Q1 last year\n\n\n\n\nCash flow from operations of $58 million, up 36% from Q1 last year\n\n\n\n\nNet loss of $24 million was consistent with Q1 last year\n\n\n NAPLES, Fla.--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment solutions and software, today announced financial results for the quarter ended March 31, 2020.\n\n\n“I am pleased to report a solid start to the year. While the COVID-19 pandemic had limited impact on our first quarter results, we continue to assess the ongoing impact. Our top priorities are ensuring the health and safety of our employees as well as providing continuous customer support during this challenging time,” commented Odilon Almeida, President and CEO, ACI Worldwide. “While there are challenges and uncertainties around the duration and severity of the outbreak, digital payments are more critical than ever, and the long-term growth drivers in our business and industry remain strong. We are fortunate to have ample liquidity and a resilient business model with a large contractual backlog, substantial recurring revenue and a very stable customer base of large banks, financial intermediaries, billers and merchants with a strong presence in eCommerce payments. During this period, we are focused on maximizing profitability and cash while positioning the company to emerge even stronger. Despite any near-term headwinds, I am confident in ACI’s ability to serve our customers and the opportunity to create significant shareholder value through growth acceleration in the medium and long-term. We are building a nimble, agile, fit-for-growth structure and a customer-centric global sales process to better position the company for continuous profitable growth. R&D-focused investment on differentiating innovation coupled with strategic M&A will further accelerate the company’s growth and value creation for our shareholders.”\n\n\nQ1 2020 FINANCIAL SUMMARY\n\n\nNew bookings in the quarter were $120 million, up 72% compared to Q1 last year.\n\n\nRevenue in the quarter was $291 million, up 42% compared to Q1 2019 driven...