Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended March 31, 2021
Q1 HIGHLIGHTS Recurring revenue of $248 million, up 1% from Q1 2020 Revenue of $285 million, down 2% from Q1 2020 Adjusted EBITDA of $45 million, up 19% from
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nQ1 HIGHLIGHTS\n\n\nRecurring revenue of $248 million, up 1% from Q1 2020\n\n\nRevenue of $285 million, down 2% from Q1 2020\n\n\nAdjusted EBITDA of $45 million, up 19% from Q1 2020\n\n\nNet adjusted EBITDA margin increased to 23% from 19% in Q1 2020\n\n\nCash flow from operations of $70 million, up 22% from Q1 2020\n\n\nNet loss of $2 million compared to a net loss of $24 million in Q1 2020\n\n\n MIAMI--(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 March 31, 2021.\n\n“ACI’s focus on execution continues to pay off, as demonstrated by our first quarter results. Despite significant and expected pandemic-related headwinds, new contract signings, revenue and adjusted EBITDA were above our expectations in the quarter,” said Odilon Almeida, president and CEO of ACI Worldwide. “As we progress on our strategy amid an improving economic outlook, we anticipate strong second half 2021 performance which will enable us to achieve the Rule of 40 for the first year ever. We are pleased by the positive feedback we have received on our strategic initiatives from new and existing customers and are excited about our pipeline of mission-critical real-time payment solutions we are delivering globally. The implementation of our three-pillar strategy is taking hold and we remain committed to maximizing shareholder value.”\n\nQ1 2021 FINANCIAL SUMMARY\nAnnual recurring revenue “ARR”’ from new sales, defined as the annual revenue expected to be generated from new accounts, new applications, and add-on sales contracts signed in the quarter was $10 million, down from $14 million in Q1 2020 as last year’s bookings had minimal impact from COVID-19 delays.\n\nRecurring revenue was $248 million, up 1% from Q1 2020. Total revenue in the quarter was $285 million, down 2% compared to Q1 2020 primarily due to headwinds from the COVID-19 pandemic.\n\nAdjusted EBITDA in the quarter increased 19% to $45 million compared to $38 million in Q1 2020. Net adjusted EBITDA margin increased to 23% in the quarter, compared to 19% in Q1 2020. Net loss in the quarter of $2 million improved compared to a net loss of $24 million in Q1 2020.\n\nMerchant segment revenue grew 22% to $39 million and Merchant segment EBITDA increased 129% compared...