ACI Worldwide Posts 13% YoY Jump in Q1 Revenue

ACI Worldwide, the global leader in mission-critical, real-time payments software, announced financial results for the quarter ended March 31, 2022. ACI delivered a strong first quarter, with revenue growth of 13% and new ARR bookings up 117% versus 2021.

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In Q1 2022, revenue was $323 million, up 13%, or 14% on a constant currency basis, from Q1 2021. Net income was $16 million, up from a net loss of $2 million in Q1 2021.

Adjusted EBITDA in Q1 2022 was $68 million, up 50%, or 49% on a constant currency basis, from Q1 2021. Net adjusted EBITDA margin in Q1 2022 was 29% compared to 23% in Q1 2021. Q1 total new ARR bookings of $21 million were up 117% over Q1 2021.

ACI ended the quarter with $115 million in cash on hand and a debt balance of $1 billion, which represents a net debt leverage ratio of 2.4x. The company repurchased 1.1 million shares for $38 million during the quarter. As of March 31, 2022, ACI has $178 million remaining on its share repurchase authorization.

"We continue to execute on the rigorous and disciplined management processes implemented in the last two years, making our business more predictable and our growth momentum clear,"said Odilon Almeida, president and CEO of ACI Worldwide."I am pleased with our progress and our financial flexibility, which support short- and long-term profitable growth while continuing our share buy-back program."

"This quarter's revenue growth and significant new business wins demonstrate continued execution of our Fit for Growth and Focused on Growth strategic pillars. Our Step-Change Value Creation pillar is progressing as well,"he concluded.