Business
ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended September 30, 2021
Q3 2021 revenue of $317 million Q3 2021 net new ARR up 50% versus Q3 2020 Raising full year 2021 guidance MIAMI--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ:
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\nQ3 2021 revenue of $317 million\n\nQ3 2021 net new ARR up 50% versus Q3 2020\n\nRaising full year 2021 guidance\n\n MIAMI--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software, today announced financial results for the quarter ended September 30, 2021.\n\n“ACI delivered a solid third quarter, continuing a string of quarterly financial results within our guidance range,” said Odilon Almeida, president and CEO of ACI Worldwide.\n\n“This has been an important year in our transformation. We have streamlined our organization, sharpened our go-to-market, and continued our focus on ensuring customers remain at the center of what we do. As we near the end of 2021, these efforts show positive results, and I am pleased with our progress,” Almeida continued.\n\n“We have increased our full-year guidance, signed 99% of our guided 2021 full-year revenue and expect to achieve the Rule of 40 this year for the first time. All of this gives us high confidence in our increased outlook and indicates that the laser-focused execution of our three-pillar strategy – Fit-for-growth, Focused-on-growth, and Step-change value creation – is working. It sets ACI on a pathway towards predictable and profitable organic growth, shows consistent delivery of our financial promises, and makes us increasingly optimistic about our future growth prospects,” Almeida concluded.\n\nTHREE-PILLAR STRATEGY PROGRESS\n\nFit-for-Growth:\n\nThroughout 2020 and 2021, the company’s fit-for-growth pillar was about cementing the next steps in its evolution by changing its business approach, streamlining its organization, sharpening its go-to-market strategy, and focusing on discipline around costs and profitability improvement in an environment of COVID-19 pressures.\n\nIn optimizing the organization, ACI sourced annual cost savings of $60 million and bolstered the commercial function, increasing its customer-facing salesforce. The revamped salesforce is already generating success. For example, roughly one-third of the company’s pipeline in the Bill Payment segment originates from recent hires.\n\nThese actions contributed to adjusted EBITDA growth of 17% and increased net adjusted EBITDA margin by more than 450 basis points in 2020.\n\nFocused-on-Growth\n\nThe company’s focused-on-growth initiatives prioritize investme...