Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ____________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-25346 __________ ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ____________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-25346 _________ ...

Part I [Item 1. Business](index=6&type=section&id=Item%201.%20Business) ACI Worldwide develops and markets real-time digital payment software and solutions globally for banks, merchants, and billers - ACI's core business is providing software and solutions for real-time digital payments to a global customer base[15](index=15&type=chunk) - The company targets three key markets: Banks (large and mid-size globally), Merchants (Tier 1 & 2, online), and Billers (consumer finance, insurance, healthcare, etc.)[19](index=19&type=chunk)[20](index=20&type=chunk)[21](index=21&type=chunk) - ACI offers solutions through on-premise term licenses or on-demand cloud arrangements (SaaS/PaaS), typically with minimum contract terms of **three to five years**[28](index=28&type=chunk) - As of December 31, 2021, ACI served over **6,000 organizations**, including **19 of the top 20 banks** worldwide, with no single customer accounting for more than **10%** of consolidated revenues[50](index=50&type=chunk) Employee Distribution by Region (as of Dec 31, 2021) | Region | Number of Employees | | :--- | :--- | | Americas | 1,618 | | EMEA | 1,008 | | Asia Pacific | 984 | | **Total** | **3,610** | [Item 1A. Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks from intense competition, cybersecurity threats, debt covenants, and the COVID-19 pandemic - The company faces intense competition from larger firms with greater resources and from the in-house IT departments of potential customers[75](index=75&type=chunk)[41](index=41&type=chunk) - Security breaches or system failures could significantly harm the business by disrupting services, damaging its reputation, and leading to loss of customers[77](index=77&type=chunk)[79](index=79&type=chunk) - A significant portion of revenue comes from the Issuing and Acquiring solutions (including BASE24), making the company susceptible to reduced demand or increased competition in this area[123](index=123&type=chunk) - The company's debt contains restrictive covenants that limit operational flexibility, and failure to comply could trigger an event of default[131](index=131&type=chunk)[132](index=132&type=chunk) - The transition away from LIBOR to alternative reference rates like SOFR presents uncertainty and potential impact on the company's Credit Agreement, which is currently indexed to U.S.-dollar-LIBOR[134](index=134&type=chunk)[135](index=135&type=chunk) - The effects of the COVID-19 pandemic, including remote work arrangements and potential economic downturns affecting customers, remain a significant uncertainty for future financial performance[136](index=136&type=chunk)[137](index=137&type=chunk) [Item 2. Properties](index=25&type=section&id=Item%202.%20Properties) ACI leases its Florida headquarters and manages 721,000 square feet of global office and data center space - ACI leases its principal executive headquarters in Coral Gables, Florida[143](index=143&type=chunk) Total Office and Data Center Space (as of end of 2021) | Location | Square Feet | | :--- | :--- | | United States (Owned & Leased) | ~**323,000** | | International (Leased) | ~**398,000** | [Item 3. Legal Proceedings](index=25&type=section&id=Item%203.%20Legal%20Proceedings) Material pending legal proceedings are detailed in Note 13 of the Consolidated Financial Statements - Details on material legal proceedings are located in Note 13, Commitments and Contingencies, within the financial statements section of the report[145](index=145&type=chunk) Part II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=26&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) ACI's common stock trades on NASDAQ, with no dividends and an active $250 million stock repurchase program - The company's common stock (ACIW) is traded on The NASDAQ Global Select Market[147](index=147&type=chunk) - ACI has never declared or paid cash dividends and does not anticipate paying them in the future[149](index=149&type=chunk) - On December 1, 2021, the board approved a new stock repurchase authorization of up to **$250.0 million**, with approximately **$216.3 million** remaining available as of December 31, 2021[150](index=150&type=chunk) Issuer Purchases of Equity Securities (Q4 2021) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Oct 2021 | 0 | N/A | | Nov 2021 | 1,000,000 | $34.28 | | Dec 2021 | 1,000,000 | $33.69 | | **Total Q4** | **2,000,000** | **$33.98** | [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2021, revenue grew 6% to $1.37 billion, net income rose 76% to $127.8 million, with strong liquidity [Overview and Key Trends](index=27&type=section&id=Overview%20and%20Key%20Trends) ACI's strategy is shaped by digital payment growth, real-time payment adoption, cloud shifts, and fraud management needs - Key trends driving ACI's business include the growth in digital payment volumes, adoption of real-time payments, shift to cloud technology, increased digital fraud, demand for omni-commerce solutions, and the emergence of Request for Payment (RfP)[160](index=160&type=chunk)[161](index=161&type=chunk)[162](index=162&type=chunk) [Backlog](index=29&type=section&id=Backlog) The 60-month backlog totaled $6.11 billion as of December 31, 2021, comprising committed revenue and assumed renewals 60-Month Backlog by Segment (in millions) | Segment | Dec 31, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Banks | $2,272 | $2,167 | | Merchants | $754 | $808 | | Billers | $3,084 | $3,064 | | **Total** | **$6,110** | **$6,039** | 60-Month Backlog Composition (in millions) | Type | Dec 31, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Committed | $2,095 | $2,447 | | Renewal | $4,015 | $3,592 | | **Total** | **$6,110** | **$6,039** | [Results of Operations](index=32&type=section&id=Results%20of%20Operations) In 2021, total revenue grew 6% to $1.37 billion, operating income increased 45%, and net income rose 76% Consolidated Results of Operations (in thousands) | Metric | 2021 | 2020 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $1,370,598 | $1,294,322 | **6%** | | Operating Income | $209,897 | $144,744 | **45%** | | Net Income | $127,791 | $72,660 | **76%** | Revenue by Type (in thousands) | Revenue Type | 2021 | 2020 | % Change | | :--- | :--- | :--- | :--- | | SaaS and PaaS | $774,342 | $769,180 | **1%** | | License | $319,867 | $246,896 | **30%** | | Maintenance | $210,499 | $211,697 | (1)% | | Services | $65,890 | $66,549 | (1)% | - The increase in total revenue was primarily driven by the timing and size of license and capacity renewals during 2021 compared to 2020[185](index=185&type=chunk) - General and administrative expenses decreased by **19%** (**$28.7 million**), largely due to lower significant transaction-related expenses in 2021 (**$11.0 million**) compared to 2020 (**$39.3 million**)[200](index=200&type=chunk) [Segment Results](index=36&type=section&id=Segment%20Results) ACI realigned into Banks, Merchants, and Billers segments, with Banks leading in revenue and Adjusted EBITDA growth - In January 2021, the company changed its organizational and reporting structure to three new segments: Banks, Merchants, and Billers[208](index=208&type=chunk) Segment Financial Data (in thousands) | Metric | Segment | 2021 | 2020 | | :--- | :--- | :--- | :--- | | **Revenues** | Banks | $625,125 | $558,498 | | | Merchants | $152,988 | $149,342 | | | Billers | $592,485 | $586,482 | | **Segment Adjusted EBITDA** | Banks | $372,949 | $331,445 | | | Merchants | $54,266 | $53,383 | | | Billers | $129,048 | $135,144 | - The Banks segment's Adjusted EBITDA increased by **$41.5 million**, driven by a **$66.6 million** revenue increase[216](index=216&type=chunk) - The Billers segment's Adjusted EBITDA decreased by **$6.1 million**, primarily due to a **$12.1 million** increase in cash operating expenses that outpaced revenue growth[219](index=219&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) Total liquidity was $620.6 million as of December 31, 2021, with operating cash flow at $220.5 million Available Liquidity (in thousands) | Component | Dec 31, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $122,059 | $165,374 | | Availability under revolving credit facility | $498,500 | $443,500 | | **Total liquidity** | **$620,559** | **$608,874** | Summary of Cash Flows (in thousands) | Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash from Operating | $220,473 | $314,895 | | Net cash used in Investing | ($45,368) | ($30,699) | | Net cash used in Financing | ($256,878) | ($159,889) | - During 2021, the company repurchased **3.0 million shares** for **$107.4 million** under its stock repurchase program[227](index=227&type=chunk) [Critical Accounting Policies and Estimates](index=40&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Critical accounting policies involve significant judgments in revenue recognition, goodwill impairment, and stock-based compensation - For revenue recognition, significant judgment is required to determine the stand-alone selling price (SSP) for each performance obligation, using the residual approach for software licenses due to their highly variable pricing[241](index=241&type=chunk) - Goodwill is assessed for impairment annually at the reporting unit level (Banks, Merchants, Billers) using a discounted cash flow model, with calculated fair value substantially exceeding carrying value in the last test[250](index=250&type=chunk)[251](index=251&type=chunk) - The fair value of Total Shareholder Return (TSR) awards is determined using a Monte Carlo simulation model, which requires assumptions about stock price volatility and risk-free interest rates[256](index=256&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency exchange rates and interest rate fluctuations on its floating-rate debt - The company is exposed to foreign currency exchange rate risk due to its global operations but has not entered into any hedging transactions[263](index=263&type=chunk) - The company has interest rate risk on its **$678.2 million** floating-rate Credit Facility, where a hypothetical **10% change** in effective interest rates would impact annual interest expense by approximately **$1.4 million**[265](index=265&type=chunk) [Item 9A. Controls and Procedures](index=45&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded disclosure controls and internal control over financial reporting were effective as of December 31, 2021 - Management concluded that the company's disclosure controls and procedures were effective as of December 31, 2021[269](index=269&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of December 31, 2021, an assessment audited and confirmed by Deloitte & Touche, LLP[271](index=271&type=chunk)[272](index=272&type=chunk)[276](index=276&type=chunk) Part III [Items 10-14](index=47&type=section&id=Items%2010-14) Information on directors, executive compensation, and security ownership is incorporated by reference from the 2022 Proxy Statement - Information regarding Directors, Executive Officers, Corporate Governance, Executive Compensation, Security Ownership, and Principal Accounting Fees is incorporated by reference from the company's 2022 Proxy Statement[284](index=284&type=chunk)[285](index=285&type=chunk)[286](index=286&type=chunk) Part IV [Item 15. Exhibits, Financial Statement Schedules](index=48&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section presents consolidated financial statements and notes on revenue, debt, segments, and legal contingencies [Consolidated Financial Statements](index=51&type=section&id=Consolidated%20Financial%20Statements) As of December 31, 2021, total assets were $3.16 billion, liabilities $1.91 billion, with $1.37 billion revenue and $127.8 million net income Key Balance Sheet Figures (in thousands) | Account | Dec 31, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Total Current Assets | $937,434 | $1,154,914 | | Goodwill | $1,280,226 | $1,280,226 | | Total Assets | $3,158,741 | $3,386,903 | | Total Current Liabilities | $754,155 | $905,605 | | Long-term Debt | $1,019,872 | $1,120,742 | | Total Liabilities | $1,913,964 | $2,180,306 | Key Income Statement Figures (in thousands) | Account | 2021 | 2020 | 2019 | | :--- | :--- | :--- | :--- | | Total Revenues | $1,370,598 | $1,294,322 | $1,258,294 | | Operating Income | $209,897 | $144,744 | $123,756 | | Net Income | $127,791 | $72,660 | $67,062 | | Diluted EPS | $1.08 | $0.62 | $0.57 | [Notes to Consolidated Financial Statements](index=58&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail revenue recognition, $1.08 billion debt, segment performance, income taxes, and legal proceedings including an ACH incident - The company's revenue recognition policy involves significant judgments, especially for multi-element arrangements including software licenses, maintenance, and services[353](index=353&type=chunk)[367](index=367&type=chunk) - As of Dec 31, 2021, total debt outstanding was approximately **$1.08 billion**, comprising **$678.2 million** in Term Loans and a **$400.0 million** in 5.750% Senior Notes due 2026[390](index=390&type=chunk)[405](index=405&type=chunk) - In **April 2021**, an inadvertent ACH file transmission during a system test led to investigations by the U.S. Consumer Finance Protection Bureau and state agencies, as well as seven class action lawsuits, with potential for material fines or penalties[480](index=480&type=chunk)[481](index=481&type=chunk) - The company's effective tax rate was **27%** in 2021, compared to **26%** in 2020, with significant impacts from operations in Colombia, Ireland, and Singapore[205](index=205&type=chunk)[457](index=457&type=chunk)

[PART I – FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited condensed consolidated financial statements for ACI Worldwide, Inc. as of June 30, 2021, and for the three and six-month periods then ended, including Balance Sheets, Statements of Operations, Comprehensive Income, Stockholders' Equity, and Cash Flows, with detailed notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $3.18 billion from $3.39 billion, primarily due to lower cash and receivables, while total liabilities decreased to $2.00 billion from $2.18 billion, mainly from reduced long-term debt Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$3,175,180** | **$3,386,903** | | Cash and cash equivalents | $146,213 | $165,374 | | Goodwill | $1,280,226 | $1,280,226 | | **Total Liabilities** | **$1,996,620** | **$2,180,306** | | Long-term debt | $1,071,822 | $1,120,742 | | **Total Stockholders' Equity** | **$1,178,560** | **$1,206,597** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2021 revenues slightly increased to $301.7 million, but net income decreased to $6.5 million, while H1 2021 revenues slightly decreased to $586.9 million, resulting in a net income of $4.6 million, a significant improvement from a prior-year net loss Three Months Ended June 30, (in thousands, except per share data) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Total Revenues | $301,669 | $299,910 | | Operating Income | $15,424 | $29,138 | | Net Income | $6,501 | $14,075 | | Diluted EPS | $0.05 | $0.12 | Six Months Ended June 30, (in thousands, except per share data) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Total Revenues | $586,855 | $591,395 | | Operating Income | $19,114 | $17,855 | | Net Income (Loss) | $4,556 | $(10,352) | | Diluted EPS (Loss) | $0.04 | $(0.09) | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Q2 2021 comprehensive income was $8.0 million, down from $13.5 million, while H1 2021 comprehensive income was $2.9 million, recovering from a $17.1 million loss, driven by net income and foreign currency adjustments Comprehensive Income (Loss) (in thousands) | Period | 2021 | 2020 | | :--- | :--- | :--- | | **Three Months Ended June 30** | | | | Net income (loss) | $6,501 | $14,075 | | Other comprehensive income (loss) | $1,466 | $(582) | | Comprehensive income (loss) | $7,967 | $13,493 | | **Six Months Ended June 30** | | | | Net income (loss) | $4,556 | $(10,352) | | Other comprehensive income (loss) | $(1,650) | $(6,751) | | Comprehensive income (loss) | $2,906 | $(17,103) | [Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity decreased to $1.18 billion from $1.21 billion, primarily due to **$39.4 million** in stock repurchases and tax withholdings, partially offset by net income and stock-based compensation - For the six months ended June 30, 2021, the company repurchased **1,000,000 shares** of common stock for **$39.4 million**[21](index=21&type=chunk) - Net income of **$4.6 million** and stock-based compensation of **$14.4 million** increased equity, while stock repurchases and other items led to an overall decrease[21](index=21&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to $108.2 million, investing activities used $23.7 million, and financing activities used $103.3 million, resulting in a net cash decrease of $19.2 million for the six months ended June 30, 2021 Six Months Ended June 30, Cash Flow Summary (in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash from operating activities | $108,216 | $125,529 | | Net cash from investing activities | $(23,727) | $(25,672) | | Net cash from financing activities | $(103,262) | $(100,150) | | **Net increase (decrease) in cash** | **$(19,161)** | **$7,825** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes cover accounting policies, COVID-19 impact, revenue recognition, debt structure, segment reporting changes (Banks, Merchants, Billers), and stock-based compensation - The company highlights risks and uncertainties from the COVID-19 pandemic, noting its impact is highly uncertain and could adversely affect business through changes in customer transaction volumes and spending[30](index=30&type=chunk)[31](index=31&type=chunk) - In January 2021, the company changed its organizational and segment reporting structure to **Banks, Merchants, and Billers** to align with its strategic direction[80](index=80&type=chunk) - Total debt as of June 30, 2021, was approximately **$1.11 billion**, comprised of term loans, a revolving credit facility, and senior notes[58](index=58&type=chunk) - Revenue allocated to remaining performance obligations was **$804.2 million** as of June 30, 2021, with **53%** expected to be recognized in the next 12 months[48](index=48&type=chunk)[53](index=53&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance for Q2 and H1 2021, covering COVID-19 impact, business trends, 60-month backlog, detailed results by revenue and expense, segment performance (Banks, Merchants, Billers), and liquidity [COVID-19 Pandemic](index=24&type=section&id=COVID-19%20Pandemic) The ongoing COVID-19 pandemic creates uncertainty, impacting customer transaction volumes in Merchants and Billers segments, though management believes current liquidity of **$619.7 million** is sufficient - The company has seen changes in customer transaction volumes since March 2020, especially in the Merchants and Billers segments, and atypical fluctuations in Biller volumes due to changes in tax deadlines[105](index=105&type=chunk) - As of June 30, 2021, the company believes it has sufficient liquidity (**$619.7 million**) to continue operations during this period of uncertainty[104](index=104&type=chunk) [Overview and Key Trends](index=24&type=section&id=Overview%20and%20Key%20Trends) ACI Worldwide's strategy is shaped by key industry trends including accelerating digital payment volumes, global adoption of real-time payments and cloud technology, rising digital fraud, omni-commerce growth, and 'Request for Payment' services - Key market trends driving ACI's business include increasing digital payment volumes, adoption of real-time payments (like Zelle, FedNow), transition to cloud technology, rising digital fraud, and the need for omni-commerce solutions[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) [Backlog](index=26&type=section&id=Backlog) The 60-month backlog, including committed and assumed renewal revenues, increased to **$6.18 billion** as of June 30, 2021, up from **$6.04 billion**, with growth across all Banks, Merchants, and Billers segments 60-Month Backlog Estimate (in millions) | Segment | June 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Banks | $2,248 | $2,167 | | Merchants | $839 | $808 | | Billers | $3,094 | $3,064 | | **Total** | **$6,181** | **$6,039** | [Results of Operations - Three Months Ended June 30, 2021](index=28&type=section&id=Results%20of%20Operations%20-%20Three%20Months%20Ended%20June%2030,%202021) Q2 2021 total revenue increased 1% to **$301.7 million**, driven by a 9% rise in SaaS and PaaS revenue, offset by a 31% decline in License revenue, leading to a 47% decrease in operating income to **$15.4 million** - SaaS and PaaS revenue grew **$15.8 million (9%)**, primarily due to the timing of tax payments by customers in the Biller segment[129](index=129&type=chunk) - License revenue decreased **$15.4 million (31%)** due to the timing and relative size of license and capacity events compared to the prior year[132](index=132&type=chunk) - Cost of revenue increased by **$11.3 million (8%)**, mainly due to higher payment card interchange and processing fees[138](index=138&type=chunk) [Results of Operations - Six Months Ended June 30, 2021](index=33&type=section&id=Results%20of%20Operations%20-%20Six%20Months%20Ended%20June%2030,%202021) H1 2021 total revenue decreased 1% to **$586.9 million**, with SaaS and PaaS revenue up 5% offset by a 29% decline in License revenue, resulting in a 7% increase in operating income to **$19.1 million** and a net income of **$4.6 million** - SaaS and PaaS revenue increased **$18.6 million (5%)**, driven by changes in the timing of tax payments in the Biller segment[154](index=154&type=chunk) - License revenue decreased **$22.3 million (29%)** due to the timing and size of deals compared to H1 2020[155](index=155&type=chunk) - Operating income increased to **$19.1 million** from **$17.9 million**, and the company reported net income of **$4.6 million** compared to a net loss of **$10.4 million** in the prior-year period[151](index=151&type=chunk) [Segment Results](index=36&type=section&id=Segment%20Results) Q2 2021 saw decreased Banks segment revenue and Adjusted EBITDA, flat Merchants, and growth in Billers revenue and Adjusted EBITDA, while H1 2021 showed Banks EBITDA decline and Merchants and Billers EBITDA growth Segment Revenue (in thousands) | Segment | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | | :--- | :--- | :--- | :--- | :--- | | Banks | $114,051 | $125,386 | $209,968 | $231,207 | | Merchants | $37,424 | $37,314 | $76,094 | $69,109 | | Billers | $150,194 | $137,210 | $300,793 | $291,079 | Segment Adjusted EBITDA (in thousands) | Segment | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | | :--- | :--- | :--- | :--- | :--- | | Banks | $54,465 | $68,385 | $91,660 | $110,821 | | Merchants | $13,041 | $12,838 | $27,766 | $19,256 | | Billers | $34,603 | $34,305 | $68,624 | $64,539 | [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2021, total liquidity was **$619.7 million**, comprising **$146.2 million** in cash and **$473.5 million** from the revolving credit facility, with management deeming it sufficient for the foreseeable future Available Liquidity (in thousands) | Component | June 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $146,213 | $165,374 | | Availability under revolving credit facility | $473,500 | $443,500 | | **Total liquidity** | **$619,713** | **$608,874** | - During the first six months of 2021, the company repurchased **1,000,000 shares** for **$39.4 million**, with **$72.7 million** remaining authorized under the stock repurchase program[189](index=189&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency fluctuations, with USD-denominated revenue and local currency expenses, and interest rate risk on its **$722.6 million** floating-rate debt - The company is exposed to foreign currency risk as it conducts business globally, with revenues primarily in USD and expenses in various local currencies[193](index=193&type=chunk) - The company has **$722.6 million** in floating-rate debt, where a hypothetical **10%** change in effective interest rates would impact annual interest expense by approximately **$1.5 million**[195](index=195&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2021, with no material changes in internal control over financial reporting during the quarter - Based on an evaluation as of the end of the period, the CEO and CFO concluded that the company's disclosure controls and procedures were effective[196](index=196&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[197](index=197&type=chunk) [PART II – OTHER INFORMATION](index=42&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any legal proceedings expected to have a material effect on its financial condition or results of operations - ACI is involved in various litigation matters in the ordinary course of business but does not believe any current proceedings would have a material adverse outcome[199](index=199&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) Updated risk factors include potential liability from software defects, specifically an April 2021 erroneous ACH file transmission incident leading to agency inquiries and potential fines, and challenges from transitioning to a new organizational structure - A new risk factor was added concerning an April 2021 incident where erroneous ACH files were transmitted during a system test, leading to inquiries from state and federal agencies that could result in material fines or penalties[202](index=202&type=chunk) - The company notes that recent changes to senior management and the realignment of its organizational structure under the 'Fit for Growth' strategy may pose operational challenges[203](index=203&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2021, the company repurchased **1,000,000 shares** of common stock for **$39.4 million**, with approximately **$72.7 million** remaining authorized for future repurchases Issuer Purchases of Equity Securities (Q2 2021) | Month | Total Shares Purchased | Average Price Paid | Shares Purchased as Part of Program | | :--- | :--- | :--- | :--- | | May 2021 | 1,000,000 | $39.41 | 1,000,000 | - As of June 30, 2021, the maximum remaining amount authorized for purchase under the stock repurchase program was approximately **$72.7 million**[208](index=208&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, CEO and CFO certifications, and XBRL data files - The report includes standard exhibits such as the CEO and CFO certifications pursuant to Sarbanes-Oxley Sections 302 and 906, and XBRL interactive data files[213](index=213&type=chunk)

Part I [Business](index=6&type=section&id=Item%201.%20Business) ACI Worldwide, Inc. is a global software company developing and supporting real-time digital payment products and solutions - ACI develops, markets, installs, and supports software products and solutions for real-time digital payments, serving banks, intermediaries, merchants, and billers globally[19](index=19&type=chunk)[20](index=20&type=chunk) - The company serves over 6,000 organizations, including 19 of the top 20 banks worldwide and over 80,000 merchants, with no single customer accounting for more than 10% of consolidated revenues in 2020[57](index=57&type=chunk) - In May 2019, ACI acquired Speedpay, a bill pay solutions provider, to expand its reach in the U.S. market and increase the scale of its ACI On Demand (AOD) platform business[22](index=22&type=chunk) - As of December 31, 2020, ACI had 3,768 employees worldwide, with **35% being women globally** and **33% of the executive team being women**[69](index=69&type=chunk) Executive Officers (as of Feb 25, 2021) | Name | Age | Position | | :--- | :--- | :--- | | Odilon Almeida | 59 | President and Chief Executive Officer | | Scott W. Behrens | 49 | Executive Vice President, Chief Financial Officer | | Evanthia (Eve) C. Aretakis | 61 | Executive Vice President, Chief Revenue Officer | | Jeremy M. Wilmot | 52 | Executive Vice President, Chief Product Officer | | Dennis P. Byrnes | 57 | Executive Vice President, Chief Legal Officer, General Counsel, and Secretary | [Risk Factors](index=19&type=section&id=Item%201A.%20Risk%20Factors) The company identifies numerous risks, with significant uncertainty surrounding the ongoing impact of the COVID-19 pandemic on operations and financial performance - The effects of the COVID-19 pandemic have materially affected operations, and the duration and extent of its impact on future results remain uncertain, including risks to remote work productivity, cybersecurity, liquidity, and demand[82](index=82&type=chunk)[83](index=83&type=chunk) - The digital payments market is highly competitive, with many competitors being significantly larger and having greater financial, technical, and marketing resources[85](index=85&type=chunk) - The business is dependent on the uninterrupted operation of its data centers and IT systems, where failures could lead to loss of customers, damage to reputation, and reduced revenues[87](index=87&type=chunk)[88](index=88&type=chunk) - Security breaches or computer viruses could disrupt service delivery, damage the company's reputation, and lead to the loss of customers[89](index=89&type=chunk)[90](index=90&type=chunk) - The company faces challenges in integrating the Speedpay acquisition and implementing its new 'Three Pillar' strategy, which focuses on real-time payments, large global merchants, and emerging markets[100](index=100&type=chunk)[102](index=102&type=chunk) - Outstanding debt contains restrictive covenants that limit operational flexibility, and a failure to comply could result in an event of default and demand for immediate repayment[141](index=141&type=chunk)[142](index=142&type=chunk) [Unresolved Staff Comments](index=30&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments from the SEC - None[149](index=149&type=chunk) [Properties](index=30&type=section&id=Item%202.%20Properties) ACI leases its principal executive headquarters in Naples, Florida, and as of year-end 2020, owned and leased approximately 865,000 square feet globally - As of the end of 2020, the company owned and leased approximately **453,000 sq. ft.** in the United States and leased approximately **412,000 sq. ft.** internationally[149](index=149&type=chunk) [Legal Proceedings](index=30&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various litigation matters but is not currently a party to any legal proceedings expected to have a material effect on its financial condition - The company is not currently a party to any legal proceedings that are expected to have a material adverse outcome[150](index=150&type=chunk) [Mine Safety Disclosures](index=30&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[150](index=150&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=31&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) ACI's common stock trades on NASDAQ under ACIW, has never paid cash dividends, and had approximately **$112.1 million** remaining for stock repurchases as of December 31, 2020 - The company's common stock trades on The NASDAQ Global Select Market under the symbol ACIW[153](index=153&type=chunk) - ACI has never declared or paid cash dividends on its common stock and does not anticipate paying them in the future[154](index=154&type=chunk) - As of December 31, 2020, approximately **$112.1 million** remained authorized for purchase under the company's stock repurchase program[157](index=157&type=chunk) Issuer Purchases of Equity Securities (Q4 2020) | Period | Total Number of Shares Purchased | Average Price Paid per Share ($) | Total Number of Shares Purchased as Part of Publicly Announced Program | | :--- | :--- | :--- | :--- | | Oct 1 - Oct 31, 2020 | — | — | — | | Nov 1 - Nov 30, 2020 | — | — | — | | Dec 1 - Dec 31, 2020 | 10,875 | 38.43 | — | | **Total** | **10,875** | **38.43** | **—** | [Selected Financial Data](index=32&type=section&id=Item%206.%20Selected%20Financial%20Data) This section provides a five-year summary of key financial data, with 2020 total revenues at **$1.294 billion** and net income at **$72.7 million** Selected Income Statement Data (in thousands, except per share data) | | 2020 | 2019 | 2018 | 2017 | 2016 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | $1,294,322 | $1,258,294 | $1,009,780 | $1,024,191 | $1,005,701 | | **Net income** | $72,660 | $67,062 | $68,921 | $5,135 | $129,535 | | **Diluted EPS** | $0.62 | $0.57 | $0.59 | $0.04 | $1.09 | Selected Balance Sheet Data (in thousands) | | 2020 | 2019 | 2018 | 2017 | 2016 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total assets** | $3,386,903 | $3,257,534 | $2,122,455 | $1,861,639 | $1,902,295 | | **Total Debt (Current + Long-term)** | $1,163,071 | $1,384,740 | $679,369 | $686,142 | $746,386 | | **Stockholders' equity** | $1,206,597 | $1,129,968 | $1,048,231 | $764,597 | $754,917 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, key business trends, and liquidity, noting a **3%** revenue increase to **$1.29 billion** in 2020 and a **$6.04 billion** backlog [Overview and Key Trends](index=33&type=section&id=Overview%20and%20Key%20Trends) ACI's strategy is shaped by accelerating digital payment volumes, real-time payment adoption, cloud technology, fraud, omni-commerce, and Request for Payment technology - Key trends impacting ACI's strategy include: * **Increasing digital payment volumes**: Accelerated by digitization of cash and COVID-19 * **Adoption of real-time payments**: Driven by consumer/business expectations and new standards like ISO 20022 * **Adoption of cloud technology**: Banks and merchants are moving to the cloud for cost, speed, and scalability * **Digital payments fraud and compliance**: Rising transaction volumes lead to increased fraud, creating demand for advanced detection solutions * **Omni-commerce**: Growth in contactless, click-and-collect, and other cross-channel payment experiences * **Request for Payment (RfP)**: An emerging technology for secure messaging and payment requests between consumers and billers/merchants[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk) [Backlog](index=35&type=section&id=Backlog) The company's 60-month backlog, including committed and estimated renewal revenues, increased to **$6.039 billion** as of December 31, 2020 60-Month Backlog Trend (in millions) | | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | :--- | :--- | :--- | | **ACI On Demand** | $3,965 | $3,868 | $3,863 | $3,781 | $3,855 | | **ACI On Premise** | $2,074 | $2,041 | $1,976 | $1,933 | $1,977 | | **Total** | **$6,039** | **$5,909** | **$5,839** | **$5,714** | **$5,832** | [Results of Operations (2020 vs. 2019)](index=37&type=section&id=Results%20of%20Operations) Total revenue increased **3%** to **$1.294 billion** in 2020, driven by SaaS and PaaS growth, while operating income rose **17%** to **$144.7 million** Consolidated Statement of Operations (in thousands) | | 2020 | 2019 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | **$1,294,322** | **$1,258,294** | **$36,028** | **3%** | | *SaaS and PaaS* | $769,180 | $677,669 | $91,511 | 14% | | *License* | $246,896 | $288,261 | ($41,365) | (14)% | | **Total operating expenses** | **$1,149,578** | **$1,134,538** | **$15,040** | **1%** | | **Operating income** | **$144,744** | **$123,756** | **$20,988** | **17%** | | **Net income** | **$72,660** | **$67,062** | **$5,598** | **8%** | - The Speedpay acquisition contributed an incremental **$123.3 million** in total revenue in 2020 compared to 2019[186](index=186&type=chunk) - Adjusted for Speedpay and foreign currency impacts, total revenue decreased by **$85.2 million (7%)**, primarily due to a decline in license revenue and lower transaction volumes in the Biller customer base from COVID-19's economic impact[186](index=186&type=chunk)[188](index=188&type=chunk) [Segment Results](index=41&type=section&id=Segment%20Results) ACI On Demand revenue grew to **$769.2 million** with doubled EBITDA, while ACI On Premise revenue declined to **$525.1 million** due to lower license revenue Segment Revenues (in thousands) | Segment | 2020 | 2019 | | :--- | :--- | :--- | | ACI On Demand | $769,180 | $678,960 | | ACI On Premise | $525,142 | $579,334 | | **Total revenue** | **$1,294,322** | **$1,258,294** | Segment Adjusted EBITDA (in thousands) | Segment | 2020 | 2019 | | :--- | :--- | :--- | | ACI On Demand | $149,610 | $66,501 | | ACI On Premise | $290,310 | $321,305 | - ACI On Demand Segment Adjusted EBITDA increased by **$83.1 million**, with **$30.0 million** attributed to the Speedpay acquisition and the remainder from decreased cash operating expenses[213](index=213&type=chunk) - ACI On Premise Segment Adjusted EBITDA decreased by **$31.0 million**, primarily due to a **$54.2 million** decrease in revenue, which was partially offset by a **$23.2 million** decrease in cash operating expenses[215](index=215&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) Total liquidity was **$608.9 million** as of December 31, 2020, supported by strong operating cash flow of **$336.3 million** and **$1.155 billion** in total debt Available Liquidity (in thousands) | | Dec 31, 2020 | Dec 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $165,374 | $121,398 | | Availability under revolving credit facility | 443,500 | 261,000 | | **Total liquidity** | **$608,874** | **$382,398** | Summary Cash Flow Data (in thousands) | | Year Ended Dec 31, 2020 | Year Ended Dec 31, 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $336,302 | $137,649 | | Net cash used in investing activities | ($30,699) | ($830,481) | | Net cash (used in) provided by financing activities | ($261,570) | $667,223 | Contractual Obligations as of Dec 31, 2020 (in thousands) | Obligation | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | | :--- | :--- | :--- | :--- | :--- | :--- | | Operating lease obligations | $59,677 | $15,116 | $23,427 | $9,561 | $11,573 | | Term loans | $717,110 | $38,950 | $120,337 | $557,823 | $— | | Revolving credit facility | $55,000 | $— | $— | $55,000 | $— | | Senior notes | $400,000 | $— | $— | $— | $400,000 | | **Total (excluding interest)** | **$1,231,787** | **$54,066** | **$143,764** | **$622,384** | **$411,573** | [Critical Accounting Policies and Estimates](index=47&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Management identifies critical accounting policies including Revenue Recognition, Intangible Assets and Goodwill, Business Combinations, Stock-Based Compensation, and Income Taxes, all requiring significant judgment - **Revenue Recognition**: Significant judgment is required to determine the stand-alone selling price (SSP) for performance obligations, using the residual approach for software licenses and a range of amounts for maintenance and services[241](index=241&type=chunk) - **Intangible Assets and Goodwill**: Goodwill of **$1.3 billion** is tested for impairment annually at the reporting unit level (ACI On Demand and ACI On Premise) using a discounted cash flow model, with no impairment recorded in 2020[248](index=248&type=chunk)[250](index=250&type=chunk) - **Business Combinations**: Accounting for acquisitions requires estimating the fair value of assets acquired and liabilities assumed, which is inherently uncertain and subject to refinement during the measurement period[251](index=251&type=chunk) - **Stock-Based Compensation**: Expense is estimated using models like Black-Scholes and Monte Carlo, which require judgmental assumptions about volatility, expected life, and performance outcomes[255](index=255&type=chunk)[256](index=256&type=chunk) - **Income Taxes**: Significant judgments are made regarding the realizability of deferred tax assets, the adequacy of valuation allowances, and the resolution of uncertain tax positions[258](index=258&type=chunk)[259](index=259&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to foreign currency and interest rate risks, with a hypothetical **10%** interest rate change impacting annual interest expense by approximately **$1.7 million** - The company is exposed to foreign currency exchange rate risk as it conducts business globally, but does not currently use hedging instruments[262](index=262&type=chunk) - The company has **$1.2 billion** of debt outstanding, with **$772.1 million** being floating-rate, where a hypothetical **10%** increase or decrease in effective interest rates would change annual interest expense by approximately **$1.7 million**[264](index=264&type=chunk) [Financial Statements and Supplementary Data](index=51&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for 2020, with an unqualified opinion from Deloitte & Touche LLP - The independent auditor, Deloitte & Touche LLP, issued an unqualified opinion on the consolidated financial statements and on the effectiveness of internal control over financial reporting as of December 31, 2020[272](index=272&type=chunk)[288](index=288&type=chunk) - The auditor's report identifies Revenue Recognition as a Critical Audit Matter due to the significant judgments involved in determining contract term, performance obligations, financing components, variable consideration, and standalone selling prices for software license arrangements[294](index=294&type=chunk)[295](index=295&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=51&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[265](index=265&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2020 - Management concluded that the company's disclosure controls and procedures were effective as of December 31, 2020[266](index=266&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of December 31, 2020, an assessment audited by Deloitte & Touche, LLP[267](index=267&type=chunk)[268](index=268&type=chunk) [Other Information](index=53&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[278](index=278&type=chunk) Part III [Directors, Executive Officers, and Corporate Governance](index=53&type=section&id=Item%2010.%20Directors,%20Executive%20Officers,%20and%20Corporate%20Governance) Information regarding executive officers, directors, and corporate governance is incorporated by reference from the company's 2021 Proxy Statement - Information required by this item is incorporated by reference from the company's definitive Proxy Statement for the Annual Meeting of Shareholders to be held on June 2, 2021[278](index=278&type=chunk) [Executive Compensation](index=53&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding director and executive compensation is incorporated by reference from the company's 2021 Proxy Statement - Information required by this item is incorporated by reference from the company's 2021 Proxy Statement[279](index=279&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=53&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership and equity compensation plans is incorporated by reference from the company's 2021 Proxy Statement - Information required by this item is incorporated by reference from the company's 2021 Proxy Statement[280](index=280&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=53&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) Information regarding certain relationships, related party transactions, and director independence is incorporated by reference from the company's 2021 Proxy Statement - Information required by this item is incorporated by reference from the company's 2021 Proxy Statement[280](index=280&type=chunk) [Principal Accounting Fees and Services](index=53&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding principal accounting fees and services is incorporated by reference from the company's 2021 Proxy Statement - Information required by this item is incorporated by reference from the company's 2021 Proxy Statement[281](index=281&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=54&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section lists the financial statements, schedules, and exhibits filed as part of the Form 10-K, including an index of all exhibits - This section contains the index to the consolidated financial statements and notes, which are filed as part of the annual report[283](index=283&type=chunk)[284](index=284&type=chunk) - A list of all exhibits filed or furnished with the Form 10-K, or incorporated by reference, is provided in the Exhibit Index[285](index=285&type=chunk)

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-25346 ___________________________ ACI WORLDWIDE, INC ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-25346 ___________________________ ACI WORLDWIDE, INC. (Ex ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-25346 ___________________________ ACI WORLDWIDE, INC. (E ...