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Jun 30, 2021
ACI Worldwide Q2 2021 Earnings Report
ACI Worldwide's financial results for the quarter ended June 30, 2021, were announced, revealing a mix of growth and decline across different segments.
Key Takeaways
ACI Worldwide reported a slight increase in total revenue, up 1% to $302 million, with recurring revenue growing by 7%. The company signed a multi-year strategic alliance with Microsoft and repurchased 1 million shares. However, net income decreased to $7 million, and adjusted EBITDA also declined due to the timing of non-recurring, high-margin license renewals.
Recurring revenue increased by 7% compared to Q2 2020, reaching $250 million.
Total revenue saw a modest increase of 1% compared to Q2 2020, totaling $302 million.
A strategic alliance was formed with Microsoft to enhance cloud-based payment solutions.
The company repurchased 1 million shares and reduced debt by $25 million.
ACI Worldwide
ACI Worldwide
Forward Guidance
For the full year 2021, ACI Worldwide expects revenue to be in the range of $1.335 billion to $1.345 billion and adjusted EBITDA to be in the range of $375 million to $385 million. For Q3 2021, the company expects revenue to be between $310 million and $320 million and adjusted EBITDA of $70 million to $80 million.
Positive Outlook
- Revenue expected to be between $1.335 billion and $1.345 billion for full year 2021.
- Adjusted EBITDA expected to be in the range of $375 million to $385 million for full year 2021.
- Revenue expected to be between $310 million and $320 million in Q3 2021.
- Adjusted EBITDA expected to be between $70 million and $80 million in Q3 2021.