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Sep 30, 2020
ACI Worldwide Q3 2020 Earnings Report
ACI Worldwide reported financial results for Q3 2020, with revenue of $316 million and net income of $16 million.
Key Takeaways
ACI Worldwide reported a decrease in revenue by 11% compared to Q3 2019, primarily due to lower non-recurring license fee revenue in the On Premise business, which was impacted by COVID-related delays. Net income also decreased to $16 million from $32 million in Q3 2019. However, cash flow from operating activities increased by 107% compared to the same period last year.
Q3 revenue reached $316 million, with adjusted EBITDA at $87 million and net income at $16 million.
Recurring revenue accounted for 77% of total revenue, increasing from 69% in Q3 of the previous year.
Cash flow from operating activities increased by 107% from Q3 last year, reaching $67 million.
Total bookings increased 43% compared to Q3 2019, while new bookings were down 5% compared to Q3 2019.
ACI Worldwide
ACI Worldwide
Forward Guidance
ACI has suspended guidance regarding its financial outlook for the full year 2020 due to the uncertainty caused by the COVID-19 pandemic.