ACI Worldwide(ACIW) - 2025 Q1 - Quarterly Report

Financial Performance - Total revenues for the three months ended March 31, 2025, increased to $394.6 million, up 25$316.0 million in the same period of 2024[15] - Net income for the first quarter of 2025 was $58.9 million, compared to a net loss of$7.8 million in the first quarter of 2024[15] - Operating income rose significantly to $58.5 million, compared to$9.6 million in the prior year, reflecting improved operational efficiency[15] - The company reported a comprehensive income of $66.7 million for the first quarter of 2025, compared to a comprehensive loss of$10.2 million in the prior year[17] - Basic earnings per share for the first quarter of 2025 were $0.56, compared to a loss of$0.07 per share in the same quarter of 2024[15] - Net income for the three months ended March 31, 2025, was $58.87 million, a significant improvement compared to a net loss of$7.75 million in the same period of 2024[23] - Segment Adjusted EBITDA for the Payment Software segment was $106.6 million, while the Biller segment reported$30.9 million for the three months ended March 31, 2025[83] - The company’s diluted earnings per share for the three months ended March 31, 2025, was calculated based on 106,827 thousand weighted average shares outstanding[72] Cash and Liquidity - Cash and cash equivalents increased to $230.1 million as of March 31, 2025, from$216.4 million at the end of 2024[12] - Total cash and cash equivalents, including settlement deposits, increased to $366.77 million as of March 31, 2025, compared to$238.10 million at the end of the same period in 2024, representing a growth of approximately 54%[23] - Net cash flows from operating activities decreased to $78.22 million from$123.24 million year-over-year, reflecting a decline of approximately 36.5%[23] - The company had $598.1 million of unused borrowings under the revolving credit facility as of March 31, 2025[47] Assets and Liabilities - Total assets grew to$3.20 billion as of March 31, 2025, up from $3.03 billion at December 31, 2024[12] - Total liabilities increased to$1.72 billion, compared to $1.60 billion at the end of 2024, primarily due to higher settlement liabilities[12] - The company’s stockholders' equity increased to$1.48 billion as of March 31, 2025, from $1.42 billion at the end of 2024, reflecting strong financial performance[12] - Total receivables, net, decreased to$739.85 million as of March 31, 2025, down from $774.48 million at the end of 2024, indicating a decline of about 4.4$90.89 million, down from $94.72 million at the end of 2024, a decrease of approximately 4.4$38.9 million, up from $35.0 million in the same quarter of 2024, indicating continued investment in innovation[15] Taxation - The effective tax rate for the three months ended March 31, 2025, was 18$12.70 million in income taxes during the three months ended March 31, 2025, compared to $2.52 million in the same period of 2024[23] - Unrecognized tax benefits for uncertain tax positions were$21.1 million as of March 31, 2025, with a potential decrease of approximately $0.8 million expected within the next 12 months[91] Stock and Compensation - The Company granted 459,741 performance share awards during the three months ended March 31, 2025, with a grant date fair value of$59.78[65] - As of March 31, 2025, there were 2,180,947 nonvested restricted share units (RSUs) with a weighted average grant date fair value of $39.24[66] - The company reported stock-based compensation expense of$11.63 million for the three months ended March 31, 2025, compared to $8.10 million in 2024[23] - The unrecognized compensation expense related to RSUs was$80.3 million, expected to be recognized over 2.4 years, and $37.9 million related to TSRs over 1.9 years[67] Debt and Interest - As of March 31, 2025, total debt amounted to$845.9 million, a decrease from $924.6 million as of December 31, 2024[57] - The Company had$453.1 million in term loans and $400.0 million in senior notes outstanding, with no amounts drawn under the revolving credit facility[47] - The interest rate for the Credit Facility as of March 31, 2025, was 6.17$200.7 million, while the Biller segment generated $193.8 million, totaling$394.6 million for the three months ended March 31, 2025[83] - Revenue from the United States was $236.754 million, up from$228.107 million, while revenue from other regions increased significantly to $157.811 million from$87.912 million[87] - The Company’s revenue from Bill Payments was $193.840 million for the three months ended March 31, 2025, up from$174.862 million in 2024[86] - The Company’s revenue from Merchant Payments increased to $37.659 million in Q1 2025 from$35.728 million in Q1 2024[86] - The Company’s revenue from Fraud Management decreased to $9.574 million in Q1 2025 from$11.507 million in Q1 2024[86]