– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
Revenue of $323 million, up 13% versus Q1 2021
Adjusted EBITDA of $68 million, up 50% versus Q1 2021
New ARR bookings of $21 million, up 117% versus Q1 2021
Net income of $16 million
Repurchased 1.1 million shares in the quarter
Reiterating guidance for full-year 2022
MIAMI--(BUSINESS WIRE)--ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software, announced financial results today 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.
“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,” Almeida continued.
“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.
FINANCIAL SUMMARY
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.
2022 FULL-YEAR AND Q2 GUIDANCE
We reaffirm our guidance for the full year of 2022. We expect revenue growth to be in the mid-single digits on a constant currency basis, or in the range of $1.415 billion to $1.435 billion. We expect adjusted EBITDA to be in a range of $400 million to $415 million with net adjusted EBITDA margin expansion.
We expect Q2 2022 revenue to be between $325 million to $345 million and adjusted EBITDA of $55 million to $75 million. This excludes one-time charges to move our European data centers to the public cloud.
CONFERENCE CALL TO DISCUSS FINANCIAL RESULTS
Today, management will host a conference call at 8:30 AM ET to discuss these results. Interested persons may access a real-time webcast of the teleconference at http://investor.aciworldwide.com/ or use the following number for dial-in participation: toll-free (866) 914-7436. Please provide your name, the conference name of ACI Worldwide, Inc. and conference ID 9771443.
About ACI Worldwide
ACI Worldwide is the global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs, financial disruptors and merchants to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.
© Copyright ACI Worldwide, Inc. 2022.
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude significant transaction-related expenses, as well as other significant non-cash expenses such as depreciation, amortization, and stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. The presentation of these non-GAAP financial measures should be considered in addition to our GAAP results and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management generally compensates for limitations in the use of non-GAAP financial measures by relying on comparable GAAP financial measures and providing investors with a reconciliation of non-GAAP financial measures only in addition to and in conjunction with results presented in accordance with GAAP.
We believe that these non-GAAP financial measures reflect an additional way to view aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Certain non-GAAP measures include:
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words or phrases such as “believes,” “will,” “expects,” “anticipates,” “intends,” and words and phrases of similar impact. The forward-looking statements are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this press release include, but are not limited to: (i) expectations that the rigorous and disciplined management processes implemented in the last two years is making our business more predictable and our growth momentum clear, (ii) our progress and our financial flexibility, which support short- and long-term profitable growth while continuing our share buy-back program, (iii) expectations that our Step-Change Value Creation pillar is progressing as well, (iv) expectations for full year 2022 revenue, adjusted EBITDA, net adjusted EBITDA margin, and (iv) our expectations for Q2 2022 revenue and adjusted EBITDA.
All of the foregoing forward-looking statements are expressly qualified by the risk factors discussed in our filings with the Securities and Exchange Commission. Such factors include, but are not limited to, increased competition, business interruptions or failure of our information technology and communication systems, security breaches or viruses, our ability to attract and retain senior management personnel and skilled technical employees, future acquisitions, strategic partnerships and investments, implementation and success of our Three Pillar strategy, impact if we convert some or all on-premise licenses from fixed-term to subscription model, anti-takeover provisions, exposure to credit or operating risks arising from certain payment funding methods, customer reluctance to switch to a new vendor, our ability to adequately defend our intellectual property, litigation, our offshore software development activities, risks from operating internationally, including fluctuations in currency exchange rates, adverse changes in the global economy, compliance of our products with applicable legislation, governmental regulations and industry standards, the complexity of our products and services and the risk that they may contain hidden defects, complex regulations applicable to our payments business, our compliance with privacy regulations, our involvement in investigations, lawsuits and other expense and time-consuming legal proceedings, exposure to unknown tax liabilities, consolidations and failures in the financial services industry, volatility in our stock price, demand for our products, failure to obtain renewals of customer contracts or to obtain such renewals on favorable terms, delay or cancellation of customer projects or inaccurate project completion estimates, impairment of our goodwill or intangible assets, the accuracy of management’s backlog estimates, the cyclical nature of our revenue and earnings and the accuracy of forecasts due to the concentration of revenue-generating activity during the final weeks of each quarter, restrictions and other financial covenants in our debt agreements, our existing levels of debt, potential adverse effects from the impending replacement of LIBOR, the COVID-19 pandemic, and events outside of our control including natural disasters, wars, and outbreaks of disease. For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q.
ACI WORLDWIDE, INC. AND SUBSIDIARIES
|
|||||||
March 31, 2022 |
|
December 31, 2021 |
|||||
ASSETS |
|
|
|
||||
Current assets |
|
|
|
||||
Cash and cash equivalents |
$ |
114,754 |
|
|
$ |
122,059 |
|
Receivables, net of allowances |
|
310,778 |
|
|
|
320,405 |
|
Settlement assets |
|
531,804 |
|
|
|
452,396 |
|
Prepaid expenses |
|
33,465 |
|
|
|
24,698 |
|
Other current assets |
|
18,926 |
|
|
|
17,876 |
|
Total current assets |
|
1,009,727 |
|
|
|
937,434 |
|
Noncurrent assets |
|
|
|
||||
Accrued receivables, net |
|
276,731 |
|
|
|
276,164 |
|
Property and equipment, net |
|
60,770 |
|
|
|
63,050 |
|
Operating lease right-of-use assets |
|
47,161 |
|
|
|
47,825 |
|
Software, net |
|
146,952 |
|
|
|
157,782 |
|
Goodwill |
|
1,280,226 |
|
|
|
1,280,226 |
|
Intangible assets, net |
|
273,527 |
|
|
|
283,004 |
|
Deferred income taxes, net |
|
51,243 |
|
|
|
50,778 |
|
Other noncurrent assets |
|
64,108 |
|
|
|
62,478 |
|
TOTAL ASSETS |
$ |
3,210,445 |
|
|
$ |
3,158,741 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
38,929 |
|
|
$ |
41,312 |
|
Settlement liabilities |
|
531,148 |
|
|
|
451,575 |
|
Employee compensation |
|
32,316 |
|
|
|
51,379 |
|
Current portion of long-term debt |
|
50,778 |
|
|
|
45,870 |
|
Deferred revenue |
|
92,518 |
|
|
|
84,425 |
|
Other current liabilities |
|
67,923 |
|
|
|
79,594 |
|
Total current liabilities |
|
813,612 |
|
|
|
754,155 |
|
Noncurrent liabilities |
|
|
|
||||
Deferred revenue |
|
27,790 |
|
|
|
25,925 |
|
Long-term debt |
|
1,036,380 |
|
|
|
1,019,872 |
|
Deferred income taxes, net |
|
32,519 |
|
|
|
36,122 |
|
Operating lease liabilities |
|
41,718 |
|
|
|
43,346 |
|
Other noncurrent liabilities |
|
33,759 |
|
|
|
34,544 |
|
Total liabilities |
|
1,985,778 |
|
|
|
1,913,964 |
|
Commitments and contingencies |
|
|
|
||||
Stockholders’ equity |
|
|
|
||||
Preferred stock |
|
— |
|
|
|
— |
|
Common stock |
|
702 |
|
|
|
702 |
|
Additional paid-in capital |
|
685,354 |
|
|
|
688,313 |
|
Retained earnings |
|
1,146,771 |
|
|
|
1,131,281 |
|
Treasury stock |
|
(506,513 |
) |
|
|
(475,972 |
) |
Accumulated other comprehensive loss |
|
(101,647 |
) |
|
|
(99,547 |
) |
Total stockholders’ equity |
|
1,224,667 |
|
|
|
1,244,777 |
|
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ |
3,210,445 |
|
|
$ |
3,158,741 |
|
ACI WORLDWIDE, INC. AND SUBSIDIARIES
|
|||||||
|
Three Months Ended March 31, |
||||||
|
2022 |
|
2021 |
||||
Revenues |
|
|
|
||||
Software as a service and platform as a service |
$ |
194,562 |
|
|
$ |
195,746 |
|
License |
|
60,285 |
|
|
|
21,202 |
|
Maintenance |
|
51,418 |
|
|
|
52,363 |
|
Services |
|
16,815 |
|
|
|
15,875 |
|
Total revenues |
|
323,080 |
|
|
|
285,186 |
|
Operating expenses |
|
|
|
||||
Cost of revenue (1) |
|
166,286 |
|
|
|
159,485 |
|
Research and development |
|
37,807 |
|
|
|
34,514 |
|
Selling and marketing |
|
34,608 |
|
|
|
28,138 |
|
General and administrative |
|
25,875 |
|
|
|
27,775 |
|
Depreciation and amortization |
|
30,838 |
|
|
|
31,584 |
|
Total operating expenses |
|
295,414 |
|
|
|
281,496 |
|
Operating income |
|
27,666 |
|
|
|
3,690 |
|
Other income (expense) |
|
|
|
||||
Interest expense |
|
(10,894 |
) |
|
|
(11,475 |
) |
Interest income |
|
3,159 |
|
|
|
2,854 |
|
Other, net |
|
2,250 |
|
|
|
(1,382 |
) |
Total other income (expense) |
|
(5,485 |
) |
|
|
(10,003 |
) |
Income (loss) before income taxes |
|
22,181 |
|
|
|
(6,313 |
) |
Income tax expense (benefit) |
|
6,691 |
|
|
|
(4,368 |
) |
Net income (loss) |
$ |
15,490 |
|
|
$ |
(1,945 |
) |
Income (loss) per common share |
|
|
|
||||
Basic |
$ |
0.13 |
|
|
$ |
(0.02 |
) |
Diluted |
$ |
0.13 |
|
|
$ |
(0.02 |
) |
Weighted average common shares outstanding |
|
|
|
||||
Basic |
|
115,287 |
|
|
|
117,491 |
|
Diluted |
|
116,098 |
|
|
|
117,491 |
|
(1) The cost of revenue excludes charges for depreciation but includes amortization of purchased and developed software for resale.
ACI WORLDWIDE, INC. AND SUBSIDIARIES
|
|||||||
|
|||||||
|
Three Months Ended March 31, |
||||||
|
2022 |
|
2021 |
||||
Cash flows from operating activities: |
|
|
|
||||
Net income (loss) |
$ |
15,490 |
|
|
$ |
(1,945 |
) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: |
|
|
|
||||
Depreciation |
|
4,981 |
|
|
|
5,416 |
|
Amortization |
|
26,508 |
|
|
|
28,167 |
|
Amortization of operating lease right-of-use assets |
|
2,716 |
|
|
|
2,345 |
|
Amortization of deferred debt issuance costs |
|
1,153 |
|
|
|
1,182 |
|
Deferred income taxes |
|
(3,367 |
) |
|
|
(6,078 |
) |
Stock-based compensation expense |
|
7,958 |
|
|
|
6,703 |
|
Other |
|
601 |
|
|
|
(106 |
) |
Changes in operating assets and liabilities: |
|
|
|
||||
Receivables |
|
9,660 |
|
|
|
76,135 |
|
Accounts payable |
|
(2,748 |
) |
|
|
(2,808 |
) |
Accrued employee compensation |
|
(19,138 |
) |
|
|
(12,725 |
) |
Deferred revenue |
|
9,949 |
|
|
|
8,152 |
|
Other current and noncurrent assets and liabilities |
|
(24,889 |
) |
|
|
(34,681 |
) |
Net cash flows from operating activities |
|
28,874 |
|
|
|
69,757 |
|
Cash flows from investing activities: |
|
|
|
||||
Purchases of property and equipment |
|
(2,280 |
) |
|
|
(4,346 |
) |
Purchases of software and distribution rights |
|
(6,207 |
) |
|
|
(8,053 |
) |
Net cash flows from investing activities |
|
(8,487 |
) |
|
|
(12,399 |
) |
Cash flows from financing activities: |
|
|
|
||||
Proceeds from issuance of common stock |
|
906 |
|
|
|
1,052 |
|
Proceeds from exercises of stock options |
|
1,022 |
|
|
|
2,799 |
|
Repurchase of stock-based compensation awards for tax withholdings |
|
(5,537 |
) |
|
|
(14,206 |
) |
Repurchases of common stock |
|
(37,860 |
) |
|
|
— |
|
Proceeds from revolving credit facility |
|
40,000 |
|
|
|
— |
|
Repayment of revolving credit facility |
|
(10,000 |
) |
|
|
(15,000 |
) |
Repayment of term portion of credit agreement |
|
(9,738 |
) |
|
|
(9,738 |
) |
Payments on or proceeds from other debt, net |
|
(4,186 |
) |
|
|
(3,600 |
) |
Net decrease in settlement assets and liabilities |
|
(605 |
) |
|
|
(71,264 |
) |
Net cash flows from financing activities |
|
(25,998 |
) |
|
|
(109,957 |
) |
Effect of exchange rate fluctuations on cash |
|
(2,464 |
) |
|
|
(41 |
) |
Net decrease in cash and cash equivalents |
|
(8,075 |
) |
|
|
(52,640 |
) |
Cash and cash equivalents, including settlement deposits, beginning of period |
|
184,142 |
|
|
|
265,382 |
|
Cash and cash equivalents, including settlement deposits, end of period |
$ |
176,067 |
|
|
$ |
212,742 |
|
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets |
|
|
|
||||
Cash and cash equivalents |
$ |
114,754 |
|
|
$ |
184,364 |
|
Settlement deposits |
|
61,313 |
|
|
|
28,378 |
|
Total cash and cash equivalents |
$ |
176,067 |
|
|
$ |
212,742 |
|
|
Three Months Ended March 31, |
||||||
Adjusted EBITDA (millions) |
2022 |
2021 |
|||||
Net income (loss) |
$ |
15.5 |
|
|
$ |
(1.9 |
) |
Plus: |
|
|
|
||||
Income tax expense (benefit) |
|
6.7 |
|
|
|
(4.4 |
) |
Net interest expense |
|
7.7 |
|
|
|
8.6 |
|
Net other income (expense) |
|
(2.3 |
) |
|
|
1.4 |
|
Depreciation expense |
|
5.0 |
|
|
|
5.4 |
|
Amortization expense |
|
26.5 |
|
|
|
28.2 |
|
Non-cash stock-based compensation expense |
|
8.0 |
|
|
|
6.7 |
|
Adjusted EBITDA before significant transaction-related expenses |
$ |
67.1 |
|
|
$ |
44.0 |
|
Significant transaction-related expenses: |
|
|
|
||||
Employee related actions |
$ |
— |
|
|
$ |
0.8 |
|
Other |
|
0.5 |
|
|
|
0.4 |
|
Adjusted EBITDA |
$ |
67.6 |
|
|
$ |
45.2 |
|
Revenue, net of interchange: |
|
|
|
||||
Revenue |
$ |
323.1 |
|
|
$ |
285.2 |
|
Interchange |
|
93.2 |
|
|
|
87.3 |
|
Revenue, net of interchange |
$ |
229.9 |
|
|
$ |
197.9 |
|
|
|
|
|
||||
Net Adjusted EBITDA Margin |
|
29 |
% |
|
|
23 |
% |
|
Three Months Ended March 31, |
||||
Segment Information (millions) |
2022 |
|
2021 |
||
Revenue |
|
|
|
||
Banks |
$ |
132.2 |
|
$ |
95.9 |
Merchants |
|
41.0 |
|
|
38.7 |
Billers |
|
149.9 |
|
|
150.6 |
Total |
$ |
323.1 |
|
$ |
285.2 |
Recurring Revenue |
|
|
|
||
Banks |
$ |
61.3 |
|
$ |
62.3 |
Merchants |
|
34.8 |
|
|
35.3 |
Billers |
|
149.9 |
|
|
150.5 |
Total |
$ |
246.0 |
|
$ |
248.1 |
Segment Adjusted EBITDA |
|
|
|
||
Banks |
$ |
64.7 |
|
$ |
37.2 |
Merchants |
|
14.7 |
|
|
14.7 |
Billers |
|
26.4 |
|
|
34.0 |
|
Three Months Ended March 31, |
||||||||||||
|
2022 |
|
2021 |
||||||||||
EPS Impact of Non-cash and Significant Transaction-related Items (millions) |
EPS Impact |
|
$ in Millions
|
|
EPS Impact |
|
$ in Millions
|
||||||
GAAP net income (loss) |
$ |
0.13 |
|
$ |
15.5 |
|
$ |
(0.02 |
) |
|
$ |
(1.9 |
) |
Adjusted for: |
|
|
|
|
|
|
|
||||||
Significant transaction-related expenses |
|
— |
|
|
0.4 |
|
|
0.01 |
|
|
|
0.9 |
|
Amortization of acquisition-related intangibles |
|
0.06 |
|
|
7.0 |
|
|
0.06 |
|
|
|
7.0 |
|
Amortization of acquisition-related software |
|
0.04 |
|
|
5.0 |
|
|
0.06 |
|
|
|
6.7 |
|
Non-cash stock-based compensation |
|
0.05 |
|
|
6.0 |
|
|
0.04 |
|
|
|
5.1 |
|
Total adjustments |
$ |
0.15 |
|
$ |
18.4 |
|
$ |
0.17 |
|
|
$ |
19.7 |
|
Diluted EPS adjusted for non-cash and significant transaction-related items |
$ |
0.28 |
|
$ |
33.9 |
|
$ |
0.15 |
|
|
$ |
17.8 |
|
|
Three Months Ended March 31, |
||||
Recurring Revenue (millions) |
2022 |
|
2021 |
||
SaaS and PaaS fees |
$ |
194.6 |
|
$ |
195.7 |
Maintenance fees |
|
51.4 |
|
|
52.4 |
Recurring Revenue |
$ |
246.0 |
|
$ |
248.1 |
Annual Recurring Revenue (ARR) Bookings (millions) |
Three Months Ended March 31, |
||||
|
2022 |
|
2021 |
||
ARR bookings |
$ |
21.1 |
|
$ |
9.7 |
Выручка составила 323 миллиона долларов, что на 13% больше, чем в 1 квартале 2021 года
Скорректированная EBITDA составила 68 миллионов долларов, увеличившись на 50% по сравнению с 1 кварталом 2021 года
Новые заказы ARR составили 21 миллион долларов, что на 117% больше, чем в 1 квартале 2021 года
Чистая прибыль в размере 16 миллионов долларов
За квартал было выкуплено 1,1 млн акций
Подтверждая руководящие указания на весь 2022 год
МАЙАМИ -- (BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), мировой лидер в области критически важного программного обеспечения для платежей в режиме реального времени, объявила сегодня финансовые результаты за квартал, закончившийся 31 марта 2022 года. ACI продемонстрировала высокие результаты в первом квартале: выручка выросла на 13%, а количество новых бронирований ARR выросло на 117% по сравнению с 2021 годом.
“Мы продолжаем придерживаться строгих и дисциплинированных процессов управления, внедренных за последние два года, что делает наш бизнес более предсказуемым, а динамику роста - очевидной”, - сказал Одилон Алмейда, президент и главный исполнительный директор ACI Worldwide.
“Я доволен нашим прогрессом и нашей финансовой гибкостью, которые поддерживают краткосрочный и долгосрочный прибыльный рост, продолжая нашу программу обратного выкупа акций”, - продолжил Алмейда.
“Рост выручки в этом квартале и значительные новые победы в бизнесе демонстрируют продолжение реализации нашей стратегии Fit for Growth и нацеленности на рост. Наш компонент создания ценности с постепенными изменениями также развивается”, - заключил он.
финансовая сводка
В 1 квартале 2022 года выручка составила 323 миллиона долларов, что на 13%, или на 14% в пересчете на постоянную валюту, больше, чем в 1 квартале 2021 года. Чистая прибыль составила 16 миллионов долларов по сравнению с чистым убытком в размере 2 миллионов долларов в 1 квартале 2021 года. Скорректированная EBITDA в 1 квартале 2022 года составила 68 миллионов долларов, что на 50%, или на 49% в пересчете на постоянную валюту, больше, чем в 1 квартале 2021 года. Чистая скорректированная рентабельность по EBITDA в 1 квартале 2022 года составила 29% по сравнению с 23% в 1 квартале 2021 года. Общий объем новых бронирований ARR в первом квартале составил 21 миллион долларов, что на 117% больше, чем в первом квартале 2021 года.
ACI завершила квартал с наличностью в размере 115 миллионов долларов США и балансом долга в размере 1 миллиарда долларов, что представляет собой коэффициент чистого долгового плеча в 2,4 раза. В течение квартала компания выкупила 1,1 млн акций на 38 млн долларов. По состоянию на 31 марта 2022 года у ACI осталось 178 миллионов долларов на получение разрешения на выкуп акций.
прогноз на весь 2022 год и 2 квартал
Мы подтверждаем наши рекомендации на весь 2022 год. Мы ожидаем, что рост выручки составит средние однозначные цифры в пересчете на постоянную валюту, или в диапазоне от 1,415 млрд до 1,435 млрд долларов. Мы ожидаем, что скорректированная EBITDA составит от 400 до 415 миллионов долларов США с увеличением чистой скорректированной рентабельности по EBITDA.
Мы ожидаем, что выручка за 2 квартал 2022 года составит от 325 до 345 миллионов долларов, а скорректированная EBITDA составит от 55 до 75 миллионов долларов. Это исключает единовременную плату за перенос наших европейских центров обработки данных в общедоступное облако.
телефонная конференция для обсуждения финансовых результатов
Сегодня руководство проведет селекторное совещание в 8:30 утра по восточному времени, чтобы обсудить эти результаты. Заинтересованные лица могут получить доступ к веб-трансляции телеконференции в режиме реального времени по адресу http://investor.aciworldwide.com / или используйте следующий номер для участия в программе: бесплатный звонок (866) 914-7436. Пожалуйста, укажите свое имя, название конференции ACI Worldwide, Inc. и идентификатор конференции 9771443.
Об ACI Worldwide
ACI Worldwide - мировой лидер в области критически важного программного обеспечения для платежей в режиме реального времени. Наши проверенные, безопасные и масштабируемые программные решения позволяют ведущим корпорациям, финтехам, финансовым нарушителям и коммерсантам обрабатывать цифровые платежи и управлять ими, осуществлять платежи в электронной коммерции, представлять и обрабатывать платежи по счетам, а также управлять мошенничеством и рисками. Мы объединяем наше глобальное присутствие с местным присутствием, чтобы обеспечить цифровую трансформацию платежей и торговли в режиме реального времени.
© Copyright ACI Worldwide, Inc. 2022.
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay и все названия продуктов/решений ACI являются товарными знаками или зарегистрированными товарными знаками ACI Worldwide, Inc. или одной из ее дочерних компаний в США, других странах или в обеих странах. Упомянутые товарные знаки других сторон являются собственностью их соответствующих владельцев.
Чтобы дополнить наши финансовые результаты, представленные на основе GAAP, мы используем показатели, не относящиеся к GAAP, указанные в таблицах, которые исключают значительные расходы, связанные с транзакциями, а также другие значительные неденежные расходы, такие как износ, амортизация и компенсация на основе акций, которые, по нашему мнению, полезны для понимания нашей прошлые финансовые показатели и наши будущие результаты. Представление этих финансовых показателей, не относящихся к ОПБУ, следует рассматривать в дополнение к нашим результатам по ОПБУ, и они не предназначены для рассмотрения изолированно или в качестве замены финансовой информации, подготовленной и представленной в соответствии с ОПБУ. Руководство, как правило, компенсирует ограничения в использовании финансовых показателей, не относящихся к GAAP, полагаясь на сопоставимые финансовые показатели GAAP и предоставляя инвесторам сверку финансовых показателей, не относящихся к GAAP, только в дополнение и в сочетании с результатами, представленными в соответствии с GAAP.
Мы считаем, что эти финансовые показатели, не относящиеся к GAAP, отражают дополнительный способ взглянуть на аспекты нашей деятельности, которые, при рассмотрении с нашими результатами по GAAP, обеспечивают более полное понимание факторов и тенденций, влияющих на наш бизнес. Некоторые показатели, не относящиеся к GAAP, включают:
прогнозные заявления
Настоящий пресс-релиз содержит прогнозные заявления, основанные на текущих ожиданиях, которые связаны с рядом рисков и неопределенностей. Как правило, прогнозные заявления не относятся строго к историческим или текущим фактам и могут включать такие слова или фразы, как “полагает”, “будет”, “ожидает”, “ожидает”, “намеревается”, а также слова и фразы аналогичного значения. Прогнозные заявления сделаны в соответствии с положениями safe harbor Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года.
Заявления о перспективах в этом пресс-релизе включают, но не ограничиваются ими: (i) ожидания того, что строгие и дисциплинированные процессы управления, внедренные за последние два года, делают наш бизнес более предсказуемым, а динамику роста очевидной, (ii) наш прогресс и наша финансовая гибкость, которые поддерживают краткосрочные и долгосрочный прибыльный рост при продолжении нашей программы обратного выкупа акций, (iii) ожидания того, что наш компонент создания стоимости с поэтапным изменением также развивается, (iv) ожидания по выручке за весь 2022 год, скорректированной EBITDA, чистой скорректированной рентабельности по EBITDA, и (iv) наши ожидания по выручке за 2 квартал 2022 года и скорректированная EBITDA.
Все вышеуказанные прогнозные заявления прямо квалифицируются факторами риска, обсуждаемыми в наших заявках в Комиссию по ценным бумагам и биржам. Такие факторы включают, но не ограничиваются, усиление конкуренции, нарушение деловой активности или провал нашей информационных технологий и систем связи, безопасности, нарушений или вирусов, в нашей способности привлекать и удерживать старший руководящий персонал и умелые технические работники, будущие приобретения, стратегического партнерства и инвестиций, внедрения и успехах наш третий компонент стратегии, влияет ли мы преобразовать некоторые локальные лицензии с фиксированным сроком на подписной модели, направленные против поглощения, кредитных и операционных рисков, вытекающих из некоторых платежных методов финансирования, заказчик нежелание переключиться на нового поставщика, наша способность достойно защищать нашу интеллектуальную собственность, судебные споры, оффшорная разработка программного обеспечения деятельность, риски от действующих на международном уровне, в том числе колебания валютных курсов, неблагоприятные изменения в мировой экономике, соответствие наших изделий с действующим законодательством, постановлениями правительства и отраслевых стандартов, трудоемкость продукции и услуг, а риск того, что они могут содержать скрытые дефекты, комплексные нормативные акты, применимые к нашей платежи, соблюдение конфиденциальности, правил, участие в расследованиях исков и других расходов и длительных судебных тяжб, воздействия неизвестного налоговых обязательств, консолидации и неудачи в индустрии финансовых услуг, волатильность на нашем складе цене, спрос на нашу продукцию, невозможность получить продление договоров с клиентами, или для получения такого продления на выгодных условиях, задержки или отмены поддержки проектов или неточна завершения проекта оценки, обесценения наш гудвила или нематериальных активов, точность управления отставание оценок цикличность наши доходы и точности прогнозирования за счет концентрации приносящей доход деятельности в течение последних недель каждого квартала, ограничения и другие финансовые ковенанты в нашем долговых соглашений, наш существующий уровень государственного долга, возможные негативные последствия от надвигающейся замена ЛИБОР, на COVID-19 пандемией, и события вне нашего контроля, включая стихийные бедствия, войны и эпидемий. Для подробного обсуждения этих факторов риска сторонам, которые полагаются на прогнозные заявления, следует ознакомиться с нашими заявками в Комиссию по ценным бумагам и биржам, включая наш последний поданный Годовой отчет по форме 10-K и наши Квартальные отчеты по форме 10-Q.
ACI Worldwide, INC. AND SUBSIDIARIES
|
|||||||
March 31, 2022 |
|
December 31, 2021 |
|||||
ASSETS |
|
|
|
||||
Current assets |
|
|
|
||||
Cash and cash equivalents |
$ |
114,754 |
|
|
$ |
122,059 |
|
Receivables, net of allowances |
|
310,778 |
|
|
|
320,405 |
|
Settlement assets |
|
531,804 |
|
|
|
452,396 |
|
Prepaid expenses |
|
33,465 |
|
|
|
24,698 |
|
Other current assets |
|
18,926 |
|
|
|
17,876 |
|
Total current assets |
|
1,009,727 |
|
|
|
937,434 |
|
Noncurrent assets |
|
|
|
||||
Accrued receivables, net |
|
276,731 |
|
|
|
276,164 |
|
Property and equipment, net |
|
60,770 |
|
|
|
63,050 |
|
Operating lease right-of-use assets |
|
47,161 |
|
|
|
47,825 |
|
Software, net |
|
146,952 |
|
|
|
157,782 |
|
Goodwill |
|
1,280,226 |
|
|
|
1,280,226 |
|
Intangible assets, net |
|
273,527 |
|
|
|
283,004 |
|
Deferred income taxes, net |
|
51,243 |
|
|
|
50,778 |
|
Other noncurrent assets |
|
64,108 |
|
|
|
62,478 |
|
TOTAL ASSETS |
$ |
3,210,445 |
|
|
$ |
3,158,741 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
38,929 |
|
|
$ |
41,312 |
|
Settlement liabilities |
|
531,148 |
|
|
|
451,575 |
|
Employee compensation |
|
32,316 |
|
|
|
51,379 |
|
Current portion of long-term debt |
|
50,778 |
|
|
|
45,870 |
|
Deferred revenue |
|
92,518 |
|
|
|
84,425 |
|
Other current liabilities |
|
67,923 |
|
|
|
79,594 |
|
Total current liabilities |
|
813,612 |
|
|
|
754,155 |
|
Noncurrent liabilities |
|
|
|
||||
Deferred revenue |
|
27,790 |
|
|
|
25,925 |
|
Long-term debt |
|
1,036,380 |
|
|
|
1,019,872 |
|
Deferred income taxes, net |
|
32,519 |
|
|
|
36,122 |
|
Operating lease liabilities |
|
41,718 |
|
|
|
43,346 |
|
Other noncurrent liabilities |
|
33,759 |
|
|
|
34,544 |
|
Total liabilities |
|
1,985,778 |
|
|
|
1,913,964 |
|
Commitments and contingencies |
|
|
|
||||
Stockholders’ equity |
|
|
|
||||
Preferred stock |
|
— |
|
|
|
— |
|
Common stock |
|
702 |
|
|
|
702 |
|
Additional paid-in capital |
|
685,354 |
|
|
|
688,313 |
|
Retained earnings |
|
1,146,771 |
|
|
|
1,131,281 |
|
Treasury stock |
|
(506,513 |
) |
|
|
(475,972 |
) |
Accumulated other comprehensive loss |
|
(101,647 |
) |
|
|
(99,547 |
) |
Total stockholders’ equity |
|
1,224,667 |
|
|
|
1,244,777 |
|
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
$ |
3,210,445 |
|
|
$ |
3,158,741 |
|
ACI Worldwide, INC. AND SUBSIDIARIES
|
|||||||
|
Three Months Ended March 31, |
||||||
|
2022 |
|
2021 |
||||
Revenues |
|
|
|
||||
Software as a service and platform as a service |
$ |
194,562 |
|
|
$ |
195,746 |
|
License |
|
60,285 |
|
|
|
21,202 |
|
Maintenance |
|
51,418 |
|
|
|
52,363 |
|
Services |
|
16,815 |
|
|
|
15,875 |
|
Total revenues |
|
323,080 |
|
|
|
285,186 |
|
Operating expenses |
|
|
|
||||
Cost of revenue (1) |
|
166,286 |
|
|
|
159,485 |
|
Research and development |
|
37,807 |
|
|
|
34,514 |
|
Selling and marketing |
|
34,608 |
|
|
|
28,138 |
|
General and administrative |
|
25,875 |
|
|
|
27,775 |
|
Depreciation and amortization |
|
30,838 |
|
|
|
31,584 |
|
Total operating expenses |
|
295,414 |
|
|
|
281,496 |
|
Operating income |
|
27,666 |
|
|
|
3,690 |
|
Other income (expense) |
|
|
|
||||
Interest expense |
|
(10,894 |
) |
|
|
(11,475 |
) |
Interest income |
|
3,159 |
|
|
|
2,854 |
|
Other, net |
|
2,250 |
|
|
|
(1,382 |
) |
Total other income (expense) |
|
(5,485 |
) |
|
|
(10,003 |
) |
Income (loss) before income taxes |
|
22,181 |
|
|
|
(6,313 |
) |
Income tax expense (benefit) |
|
6,691 |
|
|
|
(4,368 |
) |
Net income (loss) |
$ |
15,490 |
|
|
$ |
(1,945 |
) |
Income (loss) per common share |
|
|
|
||||
Basic |
$ |
0.13 |
|
|
$ |
(0.02 |
) |
Diluted |
$ |
0.13 |
|
|
$ |
(0.02 |
) |
Weighted average common shares outstanding |
|
|
|
||||
Basic |
|
115,287 |
|
|
|
117,491 |
|
Diluted |
|
116,098 |
|
|
|
117,491 |
|
(1) Стоимость выручки исключает расходы на амортизацию, но включает амортизацию приобретенного и разработанного программного обеспечения для перепродажи.
ACI Worldwide, INC. AND SUBSIDIARIES
|
|||||||
|
|||||||
|
Three Months Ended March 31, |
||||||
|
2022 |
|
2021 |
||||
Cash flows from operating activities: |
|
|
|
||||
Net income (loss) |
$ |
15,490 |
|
|
$ |
(1,945 |
) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: |
|
|
|
||||
Depreciation |
|
4,981 |
|
|
|
5,416 |
|
Amortization |
|
26,508 |
|
|
|
28,167 |
|
Amortization of operating lease right-of-use assets |
|
2,716 |
|
|
|
2,345 |
|
Amortization of deferred debt issuance costs |
|
1,153 |
|
|
|
1,182 |
|
Deferred income taxes |
|
(3,367 |
) |
|
|
(6,078 |
) |
Stock-based compensation expense |
|
7,958 |
|
|
|
6,703 |
|
Other |
|
601 |
|
|
|
(106 |
) |
Changes in operating assets and liabilities: |
|
|
|
||||
Receivables |
|
9,660 |
|
|
|
76,135 |
|
Accounts payable |
|
(2,748 |
) |
|
|
(2,808 |
) |
Accrued employee compensation |
|
(19,138 |
) |
|
|
(12,725 |
) |
Deferred revenue |
|
9,949 |
|
|
|
8,152 |
|
Other current and noncurrent assets and liabilities |
|
(24,889 |
) |
|
|
(34,681 |
) |
Net cash flows from operating activities |
|
28,874 |
|
|
|
69,757 |
|
Cash flows from investing activities: |
|
|
|
||||
Purchases of property and equipment |
|
(2,280 |
) |
|
|
(4,346 |
) |
Purchases of software and distribution rights |
|
(6,207 |
) |
|
|
(8,053 |
) |
Net cash flows from investing activities |
|
(8,487 |
) |
|
|
(12,399 |
) |
Cash flows from financing activities: |
|
|
|
||||
Proceeds from issuance of common stock |
|
906 |
|
|
|
1,052 |
|
Proceeds from exercises of stock options |
|
1,022 |
|
|
|
2,799 |
|
Repurchase of stock-based compensation awards for tax withholdings |
|
(5,537 |
) |
|
|
(14,206 |
) |
Repurchases of common stock |
|
(37,860 |
) |
|
|
— |
|
Proceeds from revolving credit facility |
|
40,000 |
|
|
|
— |
|
Repayment of revolving credit facility |
|
(10,000 |
) |
|
|
(15,000 |
) |
Repayment of term portion of credit agreement |
|
(9,738 |
) |
|
|
(9,738 |
) |
Payments on or proceeds from other debt, net |
|
(4,186 |
) |
|
|
(3,600 |
) |
Net decrease in settlement assets and liabilities |
|
(605 |
) |
|
|
(71,264 |
) |
Net cash flows from financing activities |
|
(25,998 |
) |
|
|
(109,957 |
) |
Effect of exchange rate fluctuations on cash |
|
(2,464 |
) |
|
|
(41 |
) |
Net decrease in cash and cash equivalents |
|
(8,075 |
) |
|
|
(52,640 |
) |
Cash and cash equivalents, including settlement deposits, beginning of period |
|
184,142 |
|
|
|
265,382 |
|
Cash and cash equivalents, including settlement deposits, end of period |
$ |
176,067 |
|
|
$ |
212,742 |
|
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets |
|
|
|
||||
Cash and cash equivalents |
$ |
114,754 |
|
|
$ |
184,364 |
|
Settlement deposits |
|
61,313 |
|
|
|
28,378 |
|
Total cash and cash equivalents |
$ |
176,067 |
|
|
$ |
212,742 |
|
|
Three Months Ended March 31, |
||||||
Adjusted EBITDA (millions) |
2022 |
2021 |
|||||
Net income (loss) |
$ |
15.5 |
|
|
$ |
(1.9 |
) |
Plus: |
|
|
|
||||
Income tax expense (benefit) |
|
6.7 |
|
|
|
(4.4 |
) |
Net interest expense |
|
7.7 |
|
|
|
8.6 |
|
Net other income (expense) |
|
(2.3 |
) |
|
|
1.4 |
|
Depreciation expense |
|
5.0 |
|
|
|
5.4 |
|
Amortization expense |
|
26.5 |
|
|
|
28.2 |
|
Non-cash stock-based compensation expense |
|
8.0 |
|
|
|
6.7 |
|
Adjusted EBITDA before significant transaction-related expenses |
$ |
67.1 |
|
|
$ |
44.0 |
|
Significant transaction-related expenses: |
|
|
|
||||
Employee related actions |
$ |
— |
|
|
$ |
0.8 |
|
Other |
|
0.5 |
|
|
|
0.4 |
|
Adjusted EBITDA |
$ |
67.6 |
|
|
$ |
45.2 |
|
Revenue, net of interchange: |
|
|
|
||||
Revenue |
$ |
323.1 |
|
|
$ |
285.2 |
|
Interchange |
|
93.2 |
|
|
|
87.3 |
|
Revenue, net of interchange |
$ |
229.9 |
|
|
$ |
197.9 |
|
|
|
|
|
||||
Net Adjusted EBITDA Margin |
|
29 |
% |
|
|
23 |
% |
|
Three Months Ended March 31, |
||||
Segment Information (millions) |
2022 |
|
2021 |
||
Revenue |
|
|
|
||
Banks |
$ |
132.2 |
|
$ |
95.9 |
Merchants |
|
41.0 |
|
|
38.7 |
Billers |
|
149.9 |
|
|
150.6 |
Total |
$ |
323.1 |
|
$ |
285.2 |
Recurring Revenue |
|
|
|
||
Banks |
$ |
61.3 |
|
$ |
62.3 |
Merchants |
|
34.8 |
|
|
35.3 |
Billers |
|
149.9 |
|
|
150.5 |
Total |
$ |
246.0 |
|
$ |
248.1 |
Segment Adjusted EBITDA |
|
|
|
||
Banks |
$ |
64.7 |
|
$ |
37.2 |
Merchants |
|
14.7 |
|
|
14.7 |
Billers |
|
26.4 |
|
|
34.0 |
|
Three Months Ended March 31, |
||||||||||||
|
2022 |
|
2021 |
||||||||||
EPS Impact of Non-cash and Significant Transaction-related Items (millions) |
EPS Impact |
|
$ in Millions
|
|
EPS Impact |
|
$ in Millions
|
||||||
GAAP net income (loss) |
$ |
0.13 |
|
$ |
15.5 |
|
$ |
(0.02 |
) |
|
$ |
(1.9 |
) |
Adjusted for: |
|
|
|
|
|
|
|
||||||
Significant transaction-related expenses |
|
— |
|
|
0.4 |
|
|
0.01 |
|
|
|
0.9 |
|
Amortization of acquisition-related intangibles |
|
0.06 |
|
|
7.0 |
|
|
0.06 |
|
|
|
7.0 |
|
Amortization of acquisition-related software |
|
0.04 |
|
|
5.0 |
|
|
0.06 |
|
|
|
6.7 |
|
Non-cash stock-based compensation |
|
0.05 |
|
|
6.0 |
|
|
0.04 |
|
|
|
5.1 |
|
Total adjustments |
$ |
0.15 |
|
$ |
18.4 |
|
$ |
0.17 |
|
|
$ |
19.7 |
|
Diluted EPS adjusted for non-cash and significant transaction-related items |
$ |
0.28 |
|
$ |
33.9 |
|
$ |
0.15 |
|
|
$ |
17.8 |
|
|
Three Months Ended March 31, |
||||
Recurring Revenue (millions) |
2022 |
|
2021 |
||
SaaS and PaaS fees |
$ |
194.6 |
|
$ |
195.7 |
Maintenance fees |
|
51.4 |
|
|
52.4 |
Recurring Revenue |
$ |
246.0 |
|
$ |
248.1 |
Annual Recurring Revenue (ARR) Bookings (millions) |
Three Months Ended March 31, |
||||
|
2022 |
|
2021 |
||
ARR bookings |
$ |
21.1 |
|
$ |
9.7 |
