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ACI Worldwide, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $451.8 million from $363.0 million in the same quarter the previous year. This increase was driven by higher license revenue and SaaS and PaaS revenue.
Operating expenses for the quarter were $329.2 million, representing 73% of revenues, compared to 82% in the same quarter of the previous year. This decrease in cost ratio is due to a higher increase in revenues compared to operating expenses.
The company reported an operating income of $122.6 million for the quarter, compared to $61.9 million in the previous year, with the increase attributed to higher revenues.
Interest expense for the quarter was $18.4 million, down from $19.8 million in the previous year, primarily due to repayments on the Term Loan.
Net income for the quarter was $81.4 million, up from $37.9 million in the previous year. The increase is attributed to higher operating income and lower interest expense.
Cash provided by operating activities was $232.3 million, while cash used in investing and financing activities was $31.6 million and $170.4 million, respectively.
ACI Worldwide had a total liquidity of $645.0 million as of September 30, 2024, including $177.9 million in cash and cash equivalents and $467.1 million available under the revolving credit facility.
The filing also details various financial agreements, including a refinance amendment to the credit agreement, which provides a $500 million term loan facility and a $600 million revolving credit facility.
ACI Worldwide repurchased 3,946,537 shares of common stock for $128.7 million during the nine months ended September 30, 2024, with $372.3 million remaining authorized for future repurchases.
The company continues to focus on expanding its digital payments solutions globally, leveraging growth in transaction volumes, and adopting real-time payments and cloud technology.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ACI Worldwide Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.