ACI Worldwide, Inc. ( (ACIW) ) has released its Q3 earnings. Here is a breakdown of the information ACI Worldwide, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
ACI Worldwide, Inc., a pioneer in global payments technology, provides innovative software solutions for real-time payments orchestration, serving banks, billers, and merchants globally.
The company has announced robust financial results for the third quarter of 2024, highlighting significant increases in revenue, net income, and adjusted EBITDA. The company has also raised its full-year guidance, reflecting strong performance across its segments.
In the third quarter of 2024, ACI Worldwide reported a 24% increase in revenue compared to the same period in 2023, reaching $452 million. Net income soared by 115%, and adjusted EBITDA rose by 61%. The Bank and Merchant segments were particularly strong, with revenues increasing by 43% and 38% respectively, while the Biller segment saw a more modest 5% rise. The company’s cash flow from operating activities more than doubled, and it concluded the quarter with a net debt leverage ratio of 1.6x adjusted EBITDA.
ACI Worldwide has also repurchased approximately 4 million shares year-to-date and remains focused on maintaining a disciplined capital allocation strategy. The company ended the quarter with $178 million in cash and plans to continue investing in innovation and strategic growth opportunities.
Looking ahead, ACI Worldwide is optimistic about its continued growth prospects, backed by robust pipelines and strategic investments. The company is well-positioned to deliver ongoing value to its customers and shareholders while maintaining a strong financial position and reducing its leverage target.
