ACI Worldwide(ACIW) - 2024 Q3 - Quarterly Results

Financial Performance - Revenue for Q3 2024 was $452 million, representing a 24$81 million, up 115% from $38 million in Q3 2023[4] - Adjusted EBITDA for Q3 2024 was$167 million, a 61% increase from Q3 2023[4] - Cash flow from operating activities increased 114% to $54 million in Q3 2024, compared to$25 million in Q3 2023[4] - Total revenues for the three months ended September 30, 2024, reached $451,752 million, a 24.5$363,015 million in the same period of 2023[20] - Net income for the three months ended September 30, 2024, was $81,427 million, compared to$37,911 million in the same period of 2023, representing a 114.3% increase[20] - Operating income for the three months ended September 30, 2024, was $122,586 million, up from$61,924 million in the same period of 2023, reflecting a 97.5% increase[20] - Cash flows from operating activities for the three months ended September 30, 2024, were $54,008 million, compared to$25,266 million in the same period of 2023, indicating a 113.0% increase[21] - Net income for the nine months ended September 30, 2024, was $104.6 million, a significant recovery from a net loss of$1.1 million in the same period of 2023[22] Segment Performance - Bank segment revenue increased 43% in Q3 2024, with adjusted EBITDA up 69%[5] - Merchant segment revenue rose 38% in Q3 2024, with adjusted EBITDA increasing 159%[5] - Revenue from the Banks segment for Q3 2024 was $222.0 million, up from$155.7 million in Q3 2023, a 42% increase[23] Guidance and Expectations - Full-year 2024 revenue guidance raised to a range of $1.567 billion to$1.601 billion, up from $1.557 billion to$1.591 billion[7] - Adjusted EBITDA guidance for 2024 increased to a range of $433 million to$448 million, up from $423 million to$438 million[7] - The company expects continued growth in revenue and profitability for the upcoming quarters, driven by strategic market expansions and new product developments[22] Shareholder Actions - Year-to-date 2024, the company repurchased approximately 4 million shares for $128 million[6] Cash and Liquidity - The company ended Q3 2024 with a net debt leverage ratio of 1.6x adjusted EBITDA and approximately$650 million in liquidity[3] - Cash and cash equivalents at the end of the period were $177,860 million, compared to$139,520 million at the end of the same period in 2023, representing a 27.5% increase[21] - Total cash and cash equivalents, including settlement deposits, at the end of the period were $268,670 million, up from$223,534 million in the same period of 2023, indicating a 20.2% increase[21] Expenses and Margins - Research and development expenses for the three months ended September 30, 2024, were $37,660 million, an increase from$33,739 million in the same period of 2023, showing an 8.6% rise[20] - Total operating expenses for the three months ended September 30, 2024, were $329,166 million, up from$301,091 million in the same period of 2023, reflecting a 9.3% increase[20] - The Adjusted EBITDA margin improved to 37% in Q3 2024 from 28% in Q3 2023[22] Other Key Metrics - The company reported a basic income per share of $0.78 for the three months ended September 30, 2024, compared to$0.35 in the same period of 2023, marking a 122.9% increase[20] - Recurring revenue for Q3 2024 was $270.9 million, slightly up from$263.3 million in Q3 2023, indicating a 2% increase[24] - Annual recurring revenue (ARR) bookings for Q3 2024 were $11.1 million, down from$20.5 million in Q3 2023, reflecting a 46% decline[25] - Total bookings for License and services in Q3 2024 were $67.0 million, an increase from$54.1 million in Q3 2023, representing a 24% growth[25] - Significant transaction-related expenses for Q3 2024 amounted to $4.5 million, compared to$3.3 million in Q3 2023[24]