Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended September 30, 2020
FINANCIAL HIGHLIGHTS Q3 revenue of $316 million, adjusted EBITDA of $87 million and net income of $16 million Q3 recurring revenue was 77% of total revenue,
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nFINANCIAL HIGHLIGHTS\n\n\nQ3 revenue of $316 million, adjusted EBITDA of $87 million and net income of $16 million\n\n\nQ3 recurring revenue was 77% of total revenue, up from 69% in Q3 last year\n\n\nQ3 cash flow from operating activities of $67 million, up 107% from Q3 last year\n\n\nHosting Analyst Day November 10, 2020\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 September 30, 2020.\n\n“During the pandemic, ACI has focused on keeping our employees and their families safe, assuring continuity of service to our customers, and preparing the Company to emerge from this challenging time stronger than before.” said Odilon Almeida, President and CEO of ACI Worldwide. “We are advancing on all of those fronts and continue to drive toward our goal of creating significant value for our shareholders, which is demonstrated by our performance year-to-date. Our net EBITDA margin improved from 26% to 31% over last year, and adjusted EBITDA is up 25% on revenue growth of 6% compared to the same period last year. While our On Premise business – our most profitable segment – continues to be temporarily impacted by COVID-related delays, our team continues to focus on creating value for our shareholders.”\n\nMr. Almeida continued, “We recently finalized our Three Pillar Strategy and have started implementing it across our business. We are building an agile and nimble organization, focusing our investments on real-time payments, large sophisticated global merchants, and fast-growing emerging markets. We have the right team, assets, and strategy to build an organization well positioned for continuous profitable growth and significant value creation. We look forward to sharing more details of the new ACI strategy at our upcoming virtual analyst day on November 10, 2020.”\n\nQ3 2020 FINANCIAL RESULTS\n\nTotal bookings increased 43% compared to Q3 2019 while new bookings were down 5% compared to Q3 2019. Despite new bookings being up 71% in the Company’s On Demand business, new bookings were down 27% in the Company’s On Premise license software business due to COVID-related delays in purchasing decisions by ACI’s bank customers.\n\nRevenue in the quarter was $316 million, down 11% compared to ...