TORONTO, March 07, 2024 (GLOBE NEWSWIRE) -- Altus Group Limited (ʺAltus Group" or the "Company") (TSX:AIF), a leading provider of asset and fund intelligence for commercial real estate ("CRE"), announced today the nomination of Thomas Warsop (President and CEO of ACI Worldwide Inc.) to stand for election to its Board of Directors (the "Board") at its upcoming annual general meeting of shareholders scheduled for May 1, 2024. "Tom Warsop is a seasoned technology executive with a proven track record of driving ...

OMAHA, Neb. & SINGAPORE--(BUSINESS WIRE)--Kiwibank has successfully gone live with ACI Worldwide’s Enterprise Payments Platform, a managed cloud solution that will process all of Kiwibank’s account-to-account real-time payments. “Aligned with our vision for transformation and to build a new, modern, flexible tech stack, the ACI Enterprise Payments Platform is vital for future-proofing our payments system. By moving everything to ACI’s platform, we’ve replaced over 50% of the tech underpinning our banking ...

OMAHA, Neb.--(BUSINESS WIRE)--ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, announced financial results today for the quarter and full year ended December 31, 2023. "2023 was another year of progress for ACI, with steady revenue growth and improving margins,” said Thomas Warsop, president and CEO of ACI Worldwide. “In the Bank segment, we saw particular strength in our real-time payments and anti-fraud product lines, and our Bank recurring revenue continu ...

[Executive Summary & Business Outlook](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Outlook) The company presents its strong 2023 financial results, strategic progress, and positive financial guidance for 2024 [Q4 & Full Year 2023 Highlights](index=1&type=section&id=Q4%20%26%20Full%20Year%202023%20Highlights) ACI Worldwide reported strong financial performance for Q4 and the full year 2023, with significant growth in revenue, net income, and operating cash flow **Q4 2023 Financial Highlights** | Metric | Value | YoY Growth | | :--- | :--- | :--- | | Total Revenue | $477 million | 5% | | Total Recurring Revenue | $275 million | 7% | | Net Income | $123 million | 36% | | Total Adjusted EBITDA | $210 million | 8% | | Cash Flow from Operating Activities | $86 million | 107% | **Full Year 2023 Financial Highlights** | Metric | Value | YoY Growth (Adjusted) | | :--- | :--- | :--- | | Total Revenue | $1.45 billion | 5% | | Recurring Revenue | $1.1 billion | 8% | | Net Income | $122 million | 7% | | Total Adjusted EBITDA | $395 million | 10% | | Cash Flow from Operating Activities | $169 million | 18% | - The company repurchased **1 million shares for $28 million** in 2023 and an additional **2 million shares for $62 million** year-to-date in 2024, with **$110 million remaining** on the authorization[2](index=2&type=chunk)[5](index=5&type=chunk) [CEO's Strategic Commentary](index=1&type=section&id=CEO's%20Strategic%20Commentary) The CEO highlighted steady revenue growth, improving margins, and key appointments to support future SaaS and AI initiatives - Bank segment showed particular strength in **real-time payments** and **anti-fraud product lines**, with accelerating recurring revenue[3](index=3&type=chunk) - Biller business performed well, benefiting from **new customer onboarding** and **interchange improvement efforts**[3](index=3&type=chunk) - Two new board members, Katrinka McCallum and Juan Benitez, were appointed to support **SaaS business expansion** and **artificial intelligence initiatives**[3](index=3&type=chunk) [2024 Financial Guidance](index=2&type=section&id=2024%20Financial%20Guidance) ACI Worldwide provided its financial outlook for Q1 and the full year 2024, projecting continued revenue and Adjusted EBITDA growth **2024 Financial Guidance** | Metric | Full Year 2024 | Q1 2024 | | :--- | :--- | :--- | | Revenue Growth | 7% to 9% (constant currency) | N/A | | Revenue Range | $1.547 billion to $1.576 billion | $300 million to $310 million | | Adjusted EBITDA Range | $418 million to $428 million | $25 million to $30 million | | Adjusted EBITDA Margin | Net adjusted EBITDA margin expansion | N/A | [Company Overview](index=3&type=section&id=Company%20Overview) This section details ACI Worldwide's position as a global leader in real-time payments software and its core service offerings [About ACI Worldwide](index=3&type=section&id=About%20ACI%20Worldwide) ACI Worldwide provides mission-critical, real-time payments software to a global client base of corporations, fintechs, and financial institutions - ACI Worldwide is a global leader in **mission-critical, real-time payments software**[8](index=8&type=chunk) - The company's software solutions enable processing and managing **digital payments**, powering **omni-commerce payments**, presenting and processing **bill payments**, and managing **fraud and risk**[8](index=8&type=chunk) - ACI combines its global footprint with a local presence to drive the **real-time digital transformation** of payments and commerce[8](index=8&type=chunk) [Detailed Financial Performance - Q4 2023](index=1&type=section&id=Detailed%20Financial%20Performance%20-%20Q4%202023) This chapter provides a detailed breakdown of the company's consolidated and segment-level financial results for the fourth quarter of 2023 [Consolidated Financial Results (Q4 2023)](index=1&type=section&id=Consolidated%20Financial%20Results%20(Q4%202023)) In Q4 2023, ACI Worldwide achieved a 5% increase in total revenue, driven by growth across its service offerings and improved operational efficiency **Q4 2023 Consolidated Financial Results** | Metric | Q4 2023 (in millions) | Q4 2022 (in millions) | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenues | $476.6 | $451.8 | 5.5% | | Software as a service and platform as a service | $223.2 | $205.8 | 8.5% | | License | $178.5 | $179.9 | -0.8% | | Maintenance | $51.6 | $48.9 | 5.5% | | Services | $23.2 | $17.2 | 34.9% | | Operating Income | $172.3 | $148.2 | 16.3% | | Net Income | $122.6 | $90.2 | 35.9% | | Adjusted EBITDA | $209.7 | $193.9 | 8.1% | | Cash Flow from Operating Activities | $85.7 | $41.4 | 107.0% | [Segment Performance (Q4 2023)](index=1&type=section&id=Segment%20Performance%20(Q4%202023)) The Biller segment demonstrated strong growth in Q4 2023, while the Bank and Merchant segments also posted positive revenue improvements **Q4 2023 Segment Performance** | Segment | Revenue (in millions) | YoY Growth | Recurring Revenue (in millions) | YoY Growth | Adjusted EBITDA (in millions) | YoY Growth | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Banks | $254.9 | 3% | $58.2 | 8% | $188.2 | 1% | | Merchants | $43.0 | 4% | $37.9 | 2.2% | $17.5 | 2% | | Billers | $178.7 | 9% | $178.7 | 9% | $42.2 | 60% | - Biller segment's Adjusted EBITDA growth was driven by **new customer onboarding** and progress with **interchange improvement programs**[5](index=5&type=chunk) [Recurring Revenue (Q4 2023)](index=1&type=section&id=Recurring%20Revenue%20(Q4%202023)) Total recurring revenue for Q4 2023 reached $274.8 million, marking a 7% increase driven by strong performance in the Bank and Biller segments **Q4 2023 Recurring Revenue (in millions)** | Category | Q4 2023 | Q4 2022 | YoY Change | | :--- | :--- | :--- | :--- | | SaaS and PaaS fees | $223.2 | $205.8 | 8.5% | | Maintenance fees | $51.6 | $48.9 | 5.5% | | **Total Recurring Revenue** | **$274.8** | **$254.7** | **7.9%** | **Q4 2023 Segment Recurring Revenue (in millions)** | Segment | Q4 2023 | Q4 2022 | | :--- | :--- | :--- | | Banks | $58.2 | $53.6 | | Merchants | $37.9 | $37.1 | | Billers | $178.7 | $164.0 | [EPS Impact of Non-cash and Significant Transaction-related Items (Q4 2023)](index=10&type=section&id=EPS%20Impact%20of%20Non-cash%20and%20Significant%20Transaction-related%20Items%20(Q4%202023)) Adjusting for non-cash and significant transaction-related items, diluted EPS for Q4 2023 increased from $1.12 to $1.27 **Q4 2023 EPS Impact of Non-cash and Significant Transaction-related Items** | Metric | EPS Impact | $ in Millions (Net of Tax) | | :--- | :--- | :--- | | GAAP Net Income | $1.12 | $122.6 | | Adjustments: | | | | Significant transaction-related expenses | $0.01 | $1.1 | | Amortization of acquisition-related intangibles | $0.06 | $6.4 | | Amortization of acquisition-related software | $0.03 | $3.5 | | Non-cash stock-based compensation | $0.05 | $5.3 | | **Diluted EPS adjusted for non-cash and significant transaction-related items** | **$1.27** | **$138.9** | [Detailed Financial Performance - Full Year 2023](index=2&type=section&id=Detailed%20Financial%20Performance%20-%20Full%20Year%202023) This chapter reviews the company's consolidated financial results, segment performance, and capital management activities for the full year 2023 [Consolidated Financial Results (Full Year 2023)](index=2&type=section&id=Consolidated%20Financial%20Results%20(Full%20Year%202023)) For the full year 2023, ACI Worldwide reported growth in revenue, Adjusted EBITDA, and operating cash flow **Full Year 2023 Consolidated Financial Results** | Metric | FY 2023 (in millions) | FY 2022 (in millions) | YoY Change (Adjusted) | | :--- | :--- | :--- | :--- | | Total Revenues | $1,452.6 | $1,421.9 | 5% | | Software as a service and platform as a service | $849.1 | $802.9 | 5.8% | | License | $321.2 | $348.1 | -7.7% | | Maintenance | $205.1 | $200.0 | 2.5% | | Services | $77.1 | $70.8 | 8.9% | | Operating Income | $220.4 | $203.8 | 8.1% | | Net Income | $121.5 | $142.2 | 7% | | Adjusted EBITDA | $395.4 | $373.4 | 10% | | Cash Flow from Operating Activities | $168.5 | $143.4 | 18% | [Segment Performance (Full Year 2023)](index=9&type=section&id=Segment%20Performance%20(Full%20Year%202023)) For the full year 2023, the Biller segment showed significant growth in both revenue and Adjusted EBITDA **Full Year 2023 Segment Performance** | Segment | Revenue (in millions) | FY 2022 Revenue (in millions) | Recurring Revenue (in millions) | FY 2022 Recurring Revenue (in millions) | Adjusted EBITDA (in millions) | FY 2022 Adjusted EBITDA (in millions) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Banks | $616.1 | $638.6 | $229.4 | $232.9 | $355.5 | $371.0 | | Merchants | $150.6 | $153.9 | $138.9 | $140.6 | $44.3 | $49.0 | | Billers | $685.9 | $629.4 | $685.9 | $629.4 | $142.3 | $107.4 | [Recurring Revenue (Full Year 2023)](index=2&type=section&id=Recurring%20Revenue%20(Full%20Year%202023)) Total recurring revenue for the full year 2023 grew by 8%, primarily driven by an increase in SaaS and PaaS fees **Full Year 2023 Recurring Revenue (in millions)** | Category | FY 2023 | FY 2022 | YoY Change | | :--- | :--- | :--- | :--- | | SaaS and PaaS fees | $849.1 | $802.9 | 5.8% | | Maintenance fees | $205.1 | $200.0 | 2.5% | | **Total Recurring Revenue** | **$1,054.2** | **$1,002.9** | **5.1%** | [Share Repurchase, Debt, and Cash Position (Full Year 2023)](index=2&type=section&id=Share%20Repurchase%2C%20Debt%2C%20and%20Cash%20Position%20(Full%20Year%202023)) ACI Worldwide ended 2023 with a healthy cash position, reduced net debt leverage, and an active share repurchase program **Key Financial Position Metrics (End of 2023)** | Metric | Value | | :--- | :--- | | Cash on Hand | $164 million | | Debt Balance | $1 billion | | Net Debt Leverage Ratio | 2.2x (down from 2.4x) | - The company repurchased approximately **1 million shares for $28 million** in 2023 and an additional **2 million shares for $62 million** year-to-date in 2024[5](index=5&type=chunk) - There is **$110 million remaining** available on the share repurchase authorization[5](index=5&type=chunk) [New Bookings (Full Year 2023)](index=10&type=section&id=New%20Bookings%20(Full%20Year%202023)) For the full year 2023, ACI Worldwide reported strong License and services bookings, indicating continued customer acquisition and expansion **Full Year 2023 New Bookings (in millions)** | Booking Type | FY 2023 | FY 2022 | | :--- | :--- | :--- | | Annual recurring revenue (ARR) bookings | $73.5 | $109.7 | | License and services bookings | $239.2 | $204.7 | [EPS Impact of Non-cash and Significant Transaction-related Items (Full Year 2023)](index=10&type=section&id=EPS%20Impact%20of%20Non-cash%20and%20Significant%20Transaction-related%20Items%20(Full%20Year%202023)) Adjusting for non-cash and significant transaction-related items, diluted EPS for the full year 2023 increased from $1.12 to $1.86 **Full Year 2023 EPS Impact of Non-cash and Significant Transaction-related Items** | Metric | EPS Impact | $ in Millions (Net of Tax) | | :--- | :--- | :--- | | GAAP Net Income | $1.12 | $121.5 | | Adjustments: | | | | Gain on divestiture | — | — | | Significant transaction-related expenses | $0.19 | $21.1 | | Amortization of acquisition-related intangibles | $0.24 | $25.7 | | Amortization of acquisition-related software | $0.14 | $15.5 | | Non-cash stock-based compensation | $0.17 | $18.7 | | **Diluted EPS adjusted for non-cash and significant transaction-related items** | **$1.86** | **$202.5** | [Non-GAAP Financial Measures & Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section defines the non-GAAP financial measures used by the company and provides reconciliations to their nearest GAAP equivalents [Definitions of Non-GAAP Measures](index=4&type=section&id=Definitions%20of%20Non-GAAP%20Measures) ACI Worldwide utilizes several non-GAAP financial measures to provide additional insights into its underlying business performance - **Adjusted EBITDA** is defined as net income (loss) plus income tax expense (benefit), net interest income (expense), net other income (expense), depreciation, amortization, stock-based compensation, and significant transaction-related expenses[11](index=11&type=chunk) - **Net Adjusted EBITDA Margin** is calculated as Adjusted EBITDA divided by revenue net of pass-through interchange revenue[11](index=11&type=chunk) - **Recurring Revenue** includes revenue from software as a service (SaaS), platform as a service (PaaS) fees, and maintenance fees[12](index=12&type=chunk) [Adjusted EBITDA Reconciliation](index=9&type=section&id=Adjusted%20EBITDA%20Reconciliation) The reconciliation of net income to Adjusted EBITDA highlights adjustments for non-cash and significant transaction-related expenses **Adjusted EBITDA Reconciliation (Q4 2023 vs. Q4 2022, in millions)** | Metric | Q4 2023 | Q4 2022 | | :--- | :--- | :--- | | Net income | $122.6 | $90.2 | | Plus: Income tax expense (benefit) | $31.5 | $42.8 | | Plus: Net interest expense | $16.1 | $12.8 | | Plus: Net other (income) expense | $2.1 | $2.4 | | Plus: Depreciation expense | $5.0 | $6.1 | | Plus: Amortization expense | $23.9 | $25.3 | | Plus: Non-cash stock-based compensation expense | $7.0 | $7.9 | | Adjusted EBITDA before significant transaction-related expenses | $208.2 | $187.5 | | Significant transaction-related expenses: | | | | CEO transition | — | $3.6 | | Cost reduction strategies | $1.3 | — | | European datacenter migration | $0.2 | $2.4 | | Other | — | $0.4 | | **Adjusted EBITDA** | **$209.7** | **$193.9** | **Adjusted EBITDA Reconciliation (Full Year 2023 vs. Full Year 2022, in millions)** | Metric | FY 2023 | FY 2022 | | :--- | :--- | :--- | | Net income | $121.5 | $142.2 | | Plus: Income tax expense (benefit) | $26.1 | $64.5 | | Plus: Net interest expense | $64.3 | $40.6 | | Plus: Net other (income) expense | $8.5 | ($43.4) | | Plus: Depreciation expense | $23.7 | $23.2 | | Plus: Amortization expense | $98.6 | $104.1 | | Plus: Non-cash stock-based compensation expense | $24.5 | $29.8 | | Adjusted EBITDA before significant transaction-related expenses | $367.2 | $361.0 | | Significant transaction-related expenses: | | | | CEO transition | — | $3.6 | | Cost reduction strategies | $21.0 | — | | European datacenter migration | $2.8 | $5.8 | | Other | $4.4 | $3.0 | | **Adjusted EBITDA** | **$395.4** | **$373.4** | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) This chapter presents the company's audited consolidated balance sheets, statements of operations, and statements of cash flows [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) The consolidated balance sheets show ACI Worldwide's financial position at the end of 2023, with growth in total assets and stockholders' equity **Consolidated Balance Sheet Highlights (in thousands)** | Metric | December 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **ASSETS** | | | | Cash and cash equivalents | $164,239 | $124,981 | | Receivables, net | $452,337 | $403,781 | | Settlement assets | $723,039 | $540,667 | | Total current assets | $1,406,645 | $1,114,805 | | Goodwill | $1,226,026 | $1,226,026 | | Total Assets | $3,444,739 | $3,209,895 | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Settlement liabilities | $721,164 | $539,087 | | Current portion of long-term debt | $74,405 | $65,521 | | Total current liabilities | $1,037,249 | $858,842 | | Long-term debt | $963,599 | $1,024,351 | | Total Liabilities | $2,120,442 | $2,016,708 | | Total Stockholders' Equity | $1,324,297 | $1,193,187 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) The statements of operations detail ACI Worldwide's revenues and expenses, showing increased total revenues and operating income for Q4 and the full year 2023 **Consolidated Statements of Operations Highlights (in thousands)** | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Total revenues | $476,563 | $451,805 | $1,452,579 | $1,421,901 | | Cost of revenue | $181,689 | $178,699 | $719,211 | $696,071 | | Operating income | $172,316 | $148,223 | $220,408 | $203,835 | | Interest expense | ($19,845) | ($16,179) | ($78,486) | ($53,193) | | Net income | $122,616 | $90,228 | $121,509 | $142,177 | | Diluted EPS | $1.12 | $0.81 | $1.12 | $1.24 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The statements of cash flows indicate strong cash generation from operating activities, which significantly increased in both Q4 and the full year 2023 **Consolidated Statements of Cash Flows Highlights (in thousands)** | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net cash flows from operating activities | $85,743 | $41,415 | $168,517 | $143,381 | | Net cash flows from investing activities | ($7,250) | ($13,376) | ($37,777) | $60,246 | | Net cash flows from financing activities | ($63,779) | ($28,052) | ($111,552) | ($171,060) | | Net increase (decrease) in cash and cash equivalents | $15,287 | ($1,990) | $24,149 | $30,530 | | Cash and cash equivalents, end of period | $238,821 | $214,672 | $238,821 | $214,672 | [Legal & Administrative Information](index=3&type=section&id=Legal%20%26%20Administrative%20Information) This section provides details on the company's conference call, investor relations contacts, and important forward-looking statements [Conference Call Details](index=3&type=section&id=Conference%20Call%20Details) ACI Worldwide hosted a conference call on February 29, 2024, to discuss its fourth quarter and full year 2023 financial results - Management hosted a conference call on **February 29, 2024, at 8:30 a.m. ET** to discuss the financial results[7](index=7&type=chunk) - A real-time audio broadcast was accessible at **http://investor.aciworldwide.com/**[7](index=7&type=chunk) [Investor Relations Contact](index=3&type=section&id=Investor%20Relations%20Contact) Contact information for investor relations is provided for inquiries regarding the company's financial performance and strategy - Investor Relations contact: **John Kraft, SVP, Head of Strategy and Finance**, at 239-403-4627 or john.kraft@aciworldwide.com[9](index=9&type=chunk) [Forward-Looking Statements & Risk Factors](index=4&type=section&id=Forward-Looking%20Statements%20%26%20Risk%20Factors) This press release contains forward-looking statements that are subject to various risks and uncertainties as detailed in SEC filings - Forward-looking statements are based on current expectations and involve risks and uncertainties, made pursuant to **safe harbor provisions of the Private Securities Litigation Reform Act of 1995**[13](index=13&type=chunk) - Key forward-looking statements include positioning for 2024, benefits from customer onboarding, support from new board members for **SaaS and AI expansion**, pipeline strength, and **2024 financial guidance**[14](index=14&type=chunk) - Risk factors include increased competition, business interruptions, security breaches, ability to attract talent, future acquisitions, divestitures, strategy implementation, impact of license conversions, international operating risks, and compliance with regulations[15](index=15&type=chunk)

Financial Performance - Total revenue for the year ended December 31, 2023, was $1,452.6 million, an increase from $1,421.9 million in 2022[212]. - Total revenue for the year ended December 31, 2023, increased by $30.7 million, or 2%, compared to 2022, with adjusted revenue growth of 5% after accounting for divestiture and foreign currency impacts[177]. - SaaS and PaaS revenue increased by $46.3 million, or 6%, during the year ended December 31, 2023, with an adjusted increase of 8% after considering divestiture and foreign currency effects[180]. - License revenue decreased by $26.9 million, or 8%, during the year ended December 31, 2023, with an adjusted decrease of 8% after accounting for foreign currency impacts[182]. - Maintenance revenue increased by $5.0 million, or 3%, during the year ended December 31, 2023, with an adjusted increase of 7% after considering divestiture and foreign currency effects[186]. - Services revenue increased by $6.3 million, or 9%, during the year ended December 31, 2023, with an adjusted increase of 21% after accounting for divestiture and foreign currency impacts[187]. - Operating income for the year ended December 31, 2023, was $220.4 million, representing 15% of total revenue, an increase of 8% compared to the previous year[1]. - Net income for the year ended December 31, 2023, was $121.5 million, or 8% of total revenue, a decrease of 15% compared to 2022[1]. Backlog and Growth Opportunities - The company's 60-month backlog as of December 31, 2023, totals $6.52 billion, an increase from $6.43 billion as of September 30, 2023[173]. - Committed backlog is $2.18 billion as of December 31, 2023, compared to $2.15 billion on September 30, 2023[173]. - Renewal backlog stands at $4.34 billion as of December 31, 2023, up from $4.29 billion as of September 30, 2023[173]. - The adoption of digital payments continues to grow, driven by eCommerce and real-time payment systems, with significant opportunities for ACI in both domestic and international markets[158]. - ACI's strategic partnerships with Mastercard, Microsoft, and Mindgate Solutions enhance its position in the real-time payments sector[159]. Expenses and Cost Management - Total operating expenses for the year ended December 31, 2023, increased by $14.1 million, or 1%, with a significant reduction of $18.2 million related to divestiture[189]. - Cost of revenue increased by $23.1 million, or 3%, during the year ended December 31, 2023, with an adjusted increase of 6% after accounting for divestiture and foreign currency impacts[192]. - R&D expenses decreased by $5.6 million, or 4%, during the year ended December 31, 2023, with an adjusted decrease of 2% after considering divestiture and foreign currency effects[194]. - Selling and marketing expenses decreased by $2.2 million, or 2%, for the year ended December 31, 2023, compared to 2022, primarily due to lower personnel and travel expenses[196]. - General and administrative expenses increased by $3.0 million, or 3%, for the year ended December 31, 2023, including $21.0 million for cost reduction strategies and $2.6 million for significant transaction-related expenses[199]. - Interest expense increased by $25.3 million, or 48%, for the year ended December 31, 2023, primarily due to higher interest rates[201]. Cash Flow and Financial Position - Cash flows from operating activities increased by $25.1 million in 2023, totaling $168.5 million compared to $143.4 million in 2022[224]. - Cash collections from customers rose by $69.2 million, driven by higher prior year-end receivable balances, despite $25.0 million more in interest payments and $21.9 million in income tax payments[225]. - Cash used in investing activities was $37.8 million in 2023, slightly down from $39.9 million in 2022, with no significant divestiture proceeds in 2023[227]. - Cash flows from financing activities included $73.0 million in Term Loan repayments and $27.6 million for common stock repurchases in 2023[228]. - As of December 31, 2023, cash and cash equivalents were $164.2 million, an increase from $124.98 million as of December 31, 2022[219]. - The company has a stock repurchase program with a maximum remaining amount authorized for purchase of approximately $172.4 million as of December 31, 2023[221]. - The company entered into a Refinance Amendment providing a senior secured term loan facility of $500 million and a revolving credit facility of $600 million, extending the maturity date to February 26, 2029[220]. Debt and Risk Management - The company had approximately $1.0 billion of debt outstanding as of December 31, 2023, including $643.7 million under a Credit Facility with a floating rate of 7.21% and $400.0 million in fixed-rate 2026 Notes at 5.750%[255]. - A hypothetical 10% increase or decrease in effective interest rates would impact interest income from cash investments by $0.1 million annually[254]. - The company has not entered into any foreign currency hedging transactions, exposing it to risks from fluctuations in foreign currency exchange rates[253]. - The company has not reported any material changes to its market risk for the year ended December 31, 2023, excluding interest rate and inflation impacts[253]. Strategic Initiatives - ACI is focusing on cloud technology to improve scalability and operational efficiency, aligning with industry trends[160]. - The company is actively seeking acquisitions to enhance its solution offerings and expand into new markets[165]. - ACI's advanced machine learning capabilities are being leveraged to combat fraud in the growing real-time payments landscape[161]. Shareholder and Tax Considerations - Performance awards for 2023 are based on net revenue growth and net adjusted EBITDA margin, with a total shareholder return multiplier of up to ±20% and potential earnings of up to 200% of performance shares[247]. - The company recognizes compensation expense for restricted share unit awards (RSUs) on a straight-line basis over a three-year service period[248]. - The company estimates unrecognized tax benefits for probable assessments by taxing authorities, which could lead to tax liabilities exceeding current records[250]. - The company assesses the need for a valuation allowance on deferred tax assets based on future taxable income and tax planning strategies[251].

Core Insights - ACI Worldwide has extended its partnership with Kuvasz Solutions to enhance the adoption of Colombia's new domestic real-time payments ecosystem, which was announced in December 2023 [1][2][3] - The partnership aims to provide swift and secure implementation of ACI's payment solutions, leveraging Kuvasz's expertise in the Latin American market [2][3] - ACI Worldwide currently supports 26 real-time payment schemes globally, reaching approximately 1.8 billion people through various financial institutions and payment networks [3][4] Company Overview - ACI Worldwide is recognized as a global leader in mission-critical, real-time payments software, offering scalable solutions for digital payments, omni-commerce, bill payments, and fraud management [4] - The company has a significant presence in the real-time payments sector, powering 10 central infrastructures across six continents [3][4] Market Impact - The partnership is expected to facilitate the rapid adoption of real-time payment solutions among banks, fintechs, and merchants in Colombia, promoting economic growth and financial inclusion [3] - ACI's collaboration with Kuvasz Solutions is positioned as a model for future implementations in the Latin American region, potentially establishing Colombia as a leader in real-time payments [3]

Core Viewpoint - ACI Worldwide will host its first Analyst Day under the leadership of President and CEO Thomas Warsop on March 12, focusing on enhancing shareholder value through business strategy and financial outlook [1] Group 1: Analyst Day Details - The Analyst Day will take place from 8:30 a.m. to 3:30 p.m. Eastern time at Apella in New York [1] - The event will cover discussions on the company's business strategy, product and technology updates, and forward-looking financial outlook [1] - Registration for the event is available on the ACI Analyst Day 2024 event page, with a live webcast and presentation slides to be provided afterward [1] Group 2: Company Overview - ACI Worldwide is recognized as a global leader in mission-critical, real-time payments software [2] - The company's software solutions enable corporations, fintechs, and financial disruptors to process and manage digital payments, power omni-commerce payments, and manage fraud and risk [2] - ACI combines a global footprint with a local presence to facilitate the real-time digital transformation of payments and commerce [2]

MIAMI--(BUSINESS WIRE)--ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, today announced a collaboration with RYVYL EU, a leading payments service provider (PSP) and acquirer in Central Eastern Europe (CEE), to help merchants across the region increase revenues through higher transaction conversion rates. RYVYL EU is an EU-regulated electronic money institution based in Sofia, Bulgaria, and is a wholly owned subsidiary of RYVYL Inc. (NASDAQ: RVYL). Its servi ...

Core Viewpoint - ACI Worldwide will report its financial results for Q4 and the full year 2023 on February 29, 2024, with a conference call scheduled for discussion [1]. Company Overview - ACI Worldwide is a global leader in mission-critical, real-time payments software, providing secure and scalable solutions for corporations, fintechs, and financial disruptors [2]. - The company's software enables the processing and management of digital payments, omni-commerce payments, bill payments, and fraud and risk management [2]. - ACI Worldwide combines a global footprint with local presence to facilitate the real-time digital transformation of payments and commerce [2].

Core Insights - ACI Worldwide has been selected by Nepal Clearing House (NCHL) to implement the National Payment Switch (NPS) and the NEPALPAY card scheme, enhancing domestic payment capabilities in Nepal [1][2] - The NPS initiative aims to create a comprehensive payment ecosystem that supports both card and non-card transactions, with a rollout expected in the last quarter of 2024 [2][3] - The transition to digital payments in Nepal has significantly increased financial inclusion, with the percentage of adults using formal financial services rising from 61% in 2014 to 90% in 2022 [3] Company Overview - ACI Worldwide is a global leader in real-time payments software, providing scalable solutions for digital payments and financial services [5][8] - The ACI Enterprise Payments Platform serves as an end-to-end payments hub, supporting various payment schemes across six continents and reaching approximately 1.8 billion people [5] Industry Context - The establishment of the NPS and NEPALPAY is seen as a transformative step for Nepal's payment landscape, promoting secure and efficient payment methods [2][4] - NCHL plays a crucial role in advancing digital payments in Nepal, aiming to improve the efficiency and productivity of banking and financial institutions through technology-oriented services [6][7]