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ACI Worldwide, Inc. Reports Financial Results for the
Quarter Ended September 30, 2025

HIGHLIGHTS
•Q3 revenue up 7% and recurring revenue up 10% versus prior year

•YTD revenue up 12%, across both Payment Software and Biller segments

•YTD net income up 55% versus prior year, adjusted EBITDA up 12%

•Signed first customer for ACI Connetic, ACI’s new cloud-native payments hub

•Announced $500 million share repurchase authorization

•Raising full-year 2025 guidance range for both revenue and adjusted EBITDA

Omaha, NE — November 6, 2025 — ACI Worldwide (NASDAQ: ACIW), a leading provider of global payments technology, reported strong third-quarter and year-to-date results, reflecting continued growth across its Payment Software and Biller segments. The company also raised its full-year 2025 outlook for revenue and adjusted EBITDA and announced an updated share repurchase authorization.

“Q3 continued our positive momentum, with strong revenue, adjusted EBITDA and bookings growth,” said Thomas Warsop, president and CEO of ACI. “Year-to-date, both Payment Software and Biller segment revenues have grown 12%. In Q3, we signed our first ACI Connetic customer and are encouraged by the early interest and demand for this industry-leading, cloud-native payments platform. Just recently, we hosted Payments Unleashed, ACI’s premier summit, bringing together thought leaders, innovators and visionaries to discuss the future of the payments industry, with hot topics such as stablecoin, real time payments and many others. We remain optimistic about the outlook for our industry and will continue to focus on increasing shareholder value through operational excellence.”

“With 12% year-to-date growth in both revenue and adjusted EBITDA, we are delivering strong results and are once again raising our 2025 guidance,” said Robert Leibrock, Chief Financial Officer of ACI. "Our commitment to innovation, demonstrated by the progress of ACI Connetic and Speedpay, together with disciplined operational execution, continues to drive high-value growth and strong underlying cash generation. This performance has enabled us to expand our share repurchase authorization to $500 million, reflecting our balanced approach to capital allocation and our focus on creating long-term value for investors. As we approach the end of 2025, we are confident in our ability to achieve our updated full-year outlook and enter 2026 on track to deliver growth consistent with our longer-term model.”


Q3 AND YEAR-TO-DATE 2025 FINANCIAL SUMMARY
In Q3 2025, revenue was $482 million, up 7% from Q3 2024. Recurring revenue in Q3 2025 of $298 million was up 10% from Q3 2024 and represented 62% of total revenue. Q3 2025 net income of $91 million compares to a net income of $81 million in Q3 2024. Q3 2025 adjusted EBITDA was $171 million, up 2% from Q3 2024. Q3 cash flow from operating activities was $73 million, versus $54 million in Q3 2024. Net new ARR bookings in Q3 increased 14% to $13 million and new license and services bookings in Q3 increased 21% to $81 million.
•In Q3 2025, Payment Software segment revenue increased 4% and segment adjusted EBITDA increased 1%, versus Q3 2024.
•In Q3 2025, Biller segment revenue increased 10% and segment adjusted EBITDA increased 4%, versus Q3 2024.

Year-to-date 2025 revenue was $1.28 billion, up 12% from year-to-date 2024. Recurring revenue in year-to-date 2025 of $906 million was up 11% from year-to-date 2024 and represented 71% of total revenue. Year-to-date 2025 net income of $162 million, which includes a $22 million after-tax gain on the sale of ACI's minority interest in India-based Mindgate, compares to net income of $105 million for year-to-date 2024. Adjusted EBITDA for year-to-date 2025 was $346 million, up 12% from year-to-date 2024. Cash flow from operating activities for year-to-date 2025 was $201 million, versus $232 million for year-to-date 2024. Net new ARR bookings year-to-date 2025 increased 50% to $46 million and new license and services bookings year-to-date 2025 increased 8% to $189 million.
•Year-to-date 2025, Payment Software segment revenue increased 12% and adjusted EBITDA increased 13%, versus year-to-date 2024.
•Year-to-date 2025, Biller segment revenue increased 12% and adjusted EBITDA increased 4%, versus year-to-date 2024.

ACI ended Q3 2025 with $199 million in cash on hand and a debt balance of $873 million, representing a net debt leverage ratio of 1.3x adjusted EBITDA. During Q3 2025, ACI repurchased approximately 0.4 million shares for $16 million in capital. Year-to-date 2025, repurchases totaled approximately 3.1 million shares for $150 million in capital.

INCREASED SHARE REPURCHASE AUTHORIZATION
Today ACI announced that its Board of Directors approved $500 million for the stock repurchase program in place of the remaining purchase amounts previously authorized.

RAISING FULL-YEAR 2025 OUTLOOK
ACI is raising guidance for the full-year 2025. ACI now expects that total revenue for the full-year 2025 will be in the range of $1.730 billion to $1.754 billion, ahead of the previously issued guidance of $1.710 billion to $1.740 billion. ACI currently expects adjusted EBITDA for the full-year 2025 will be in the range of $495 million to $510 million, ahead of the previously issued guidance of $490 million to $505 million.

CONFERENCE CALL TO DISCUSS FINANCIAL RESULTS
Today, management will host a conference call at 8:30 a.m. ET to discuss these results. Interested persons may access a real-time teleconference webcast at http://investor.aciworldwide.com/. To join the live audio call, please dial +1 (800) 715-9871, provide your name, the conference name of ACI Worldwide, Inc. and conference ID 88945; alternatively, to reduce operator assisted delays joining the call, we invite you to register in advance by visiting https://registrations.events/direct/Q4I889455. This process will provide you with a unique passcode allowing you to join the call without operator assistance.


About ACI Worldwide
ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With over 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities.
© Copyright ACI Worldwide, Inc. 2025.
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.
For more information contact:

Investor Relations
John Kraft
SVP, Head of Strategy and Finance
305-894-2223 / john.kraft@aciworldwide.com







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:

•Adjusted EBITDA: net income (loss) plus income tax expense (benefit), net interest income (expense), net other income (expense), depreciation, amortization and stock-based compensation, as well as significant transaction-related expenses. Adjusted EBITDA should be considered in addition to, rather than as a substitute for, net income (loss).

•Net adjusted EBITDA margin: Adjusted EBITDA divided by revenue net of pass-through interchange revenue. Net adjusted EBITDA margin should be considered in addition to, rather than as a substitute for, net income (loss).

•Diluted EPS adjusted for non-cash and significant transaction related items: diluted EPS plus tax effected significant transaction related items, amortization of acquired intangibles and software, and non-cash stock-based compensation. Diluted EPS adjusted for non-cash and significant transaction related items should be considered in addition to, rather than as a substitute for, diluted EPS.

•Recurring revenue: revenue from software as a service and platform as a service fees and maintenance fees. Recurring revenue should be considered in addition to, rather than as a substitute for, total revenue.

•ARR: New annual recurring revenue expected to be generated from new accounts, new applications, and add-on sales bookings contracts signed in the period.



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) we signed our first ACI Connetic customer and are encouraged by the early interest and demand for this industry-leading, cloud-native payments platform, (ii) we remain optimistic about the outlook for our industry and will continue to focus on increasing shareholder value through operational excellence, (iii) we are delivering strong results and are once again raising our 2025 guidance (iv) as we approach the end of 2025, we are confident in our ability to achieve our updated full-year outlook and enter 2026 on track to deliver growth consistent with our longer-term model, and (v) and full-year 2025 revenue and adjusted EBITDA financial guidance.
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, cybersecurity incidents or failure of our information technology and communication systems, security breaches, our ability to attract and retain senior management personnel and skilled technical employees, future acquisitions, strategic partnerships and investments, divestitures and other restructuring activities, implementation and success of our 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, loss caused by theft or fraud, customer reluctance to switch to a new vendor, our ability to adequately defend our intellectual property, litigation, consent orders and other compliance agreements, our offshore software development activities, risks from operating internationally, including fluctuations in currency exchange rates, events in eastern Europe and the Middle East, 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, legal and business risks from artificial intelligence technology incorporated into our products, risks to our business from the use of artificial intelligence by our workforce, complex regulations applicable to our payments business, our compliance with privacy and cybersecurity regulations, compliance with requirements of the payment card networks and Nacha, exposure to unknown tax liabilities, changes in tax laws and regulations, 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, changes in card association and debit network fees or products, 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, incurring additional debt, events outside of our control including natural disasters, wars, and outbreaks of disease, and revenues or revenue mix below expectations. 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
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited and in thousands)
September 30, 2025December 31, 2024
ASSETS
Current assets
Cash and cash equivalents$199,268 $216,394 
Receivables, net of allowances460,526 414,399 
Settlement assets446,494 318,871 
Prepaid expenses33,336 29,218 
Other current assets23,915 11,940 
Total current assets1,163,539 990,822 
Noncurrent assets
Accrued receivables, net363,064 360,079 
Property and equipment, net33,323 35,069 
Operating lease right-of-use assets28,947 28,864 
Software, net79,716 92,893 
Goodwill1,226,026 1,226,026 
Intangible assets, net151,192 165,377 
Deferred income taxes, net84,316 72,713 
Other noncurrent assets30,780 53,450 
TOTAL ASSETS$3,160,903 $3,025,293 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable$55,279 $45,422 
Settlement liabilities445,927 317,484 
Employee compensation47,347 55,567 
Current portion of long-term debt40,925 34,928 
Deferred revenue65,081 75,419 
Other current liabilities82,541 73,808 
Total current liabilities737,100 602,628 
Noncurrent liabilities
Deferred revenue14,580 19,304 
Long-term debt826,892 889,649 
Deferred income taxes, net50,111 39,920 
Operating lease liabilities23,213 22,592 
Other noncurrent liabilities29,825 26,873 
Total liabilities1,681,721 1,600,966 
Commitments and contingencies
Stockholders’ equity
Preferred stock— — 
Common stock702 702 
Additional paid-in capital745,347 731,927 
Retained earnings1,760,407 1,598,085 
Treasury stock(924,013)(784,914)
Accumulated other comprehensive loss(103,261)(121,473)
Total stockholders’ equity1,479,182 1,424,327 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$3,160,903 $3,025,293 




ACI WORLDWIDE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited and in thousands, except per share amounts)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Revenues
Software as a service and platform as a service$246,916 $223,367 $755,257 $674,498 
License161,957 157,429 303,161 252,984 
Maintenance51,420 47,559 150,483 144,046 
Services22,066 23,397 69,281 69,722 
Total revenues482,359 451,752 1,278,182 1,141,250 
Operating expenses
Cost of revenue (1)223,138 197,351 671,316 591,696 
Research and development42,567 37,660 122,582 108,063 
Selling and marketing30,710 28,691 91,637 83,992 
General and administrative34,098 33,949 99,341 84,942 
Depreciation and amortization24,140 31,515 72,226 86,710 
Total operating expenses354,653 329,166 1,057,102 955,403 
Operating income127,706 122,586 221,080 185,847 
Other income (expense)
Interest expense(14,811)(18,356)(44,021)(55,837)
Interest income3,676 3,871 11,674 11,833 
Other, net1,551 (823)18,898 (1,692)
Total other income (expense)(9,584)(15,308)(13,449)(45,696)
Income before income taxes
118,122 107,278 207,631 140,151 
Income tax expense
26,872 25,851 45,309 35,588 
Net income
$91,250 $81,427 $162,322 $104,563 
Income per common share
Basic$0.88 $0.78 $1.56 $0.99 
Diluted$0.88 $0.77 $1.54 $0.98 
Weighted average common shares outstanding
Basic103,245 104,770 104,316 105,651 
Diluted103,895 106,018 105,264 106,552 
(1) The cost of revenue excludes charges for depreciation and amortization.


ACI WORLDWIDE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited and in thousands)
Three Months Ended September 30,Nine months ended September 30,
2025202420252024
Cash flows from operating activities:
Net income
$91,250 $81,427 $162,322 $104,563 
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation3,183 7,804 9,528 14,999 
Amortization20,957 23,711 62,698 71,711 
Amortization of operating lease right-of-use assets2,403 2,338 7,245 7,337 
Amortization of deferred debt issuance costs421 659 1,691 2,257 
Deferred income taxes5,341 (3,745)1,133 (2,229)
Stock-based compensation expense17,381 11,346 45,419 30,165 
Gain on sale of equity investment
— — (25,927)— 
Other1,119 2,247 1,992 180 
Changes in operating assets and liabilities:
Receivables(83,007)(95,899)(34,316)3,699 
Accounts payable(2,413)(4,091)9,998 758 
Accrued employee compensation6,748 8,759 (9,454)(11,125)
Deferred revenue(9,784)(6,433)(17,625)1,884 
Other current and noncurrent assets and liabilities19,439 25,885 (13,648)8,067 
Net cash flows from operating activities73,038 54,008 201,056 232,266 
Cash flows from investing activities:
Purchases of property and equipment(3,404)(3,509)(7,730)(8,463)
Purchases of software and distribution rights(6,501)(4,154)(18,643)(23,178)
Proceeds from sale of equity investment
— — 46,021 — 
Net cash flows from investing activities(9,905)(7,663)19,648 (31,641)
Cash flows from financing activities:
Proceeds from issuance of common stock871 732 2,503 2,129 
Proceeds from exercises of stock options466 1,202 1,262 1,954 
Repurchase of stock-based compensation awards for tax withholdings(3,628)(2,960)(23,854)(9,299)
Repurchases of common stock(16,253)(7,996)(150,023)(127,670)
Redemption of 2026 Notes
— — (400,000)— 
Proceeds from revolving credit facility— 20,000 290,000 184,000 
Repayment of revolving credit facility(20,000)(25,000)(120,000)(177,000)
Proceeds from term portion of credit agreement— — 200,000 500,000 
Repayment of term portion of credit agreement(10,625)(9,375)(29,375)(547,823)
Payments on or proceeds from other debt, net(1,301)(630)(11,965)(9,299)
Payments for debt issuance costs— — (134)(5,141)
Net increase (decrease) in settlement assets and liabilities(55,234)23,855 6,339 17,704 
Net cash flows from financing activities(105,704)(172)(235,247)(170,445)
Effect of exchange rate fluctuations on cash(2,973)(1,621)2,936 (331)
Net increase (decrease) in cash and cash equivalents
(45,544)44,552 (11,607)29,849 
Cash and cash equivalents, including settlement deposits, beginning of period298,955 224,118 265,018 238,821 
Cash and cash equivalents, including settlement deposits, end of period$253,411 $268,670 $253,411 $268,670 
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets
Cash and cash equivalents$199,268 $177,860 $199,268 $177,860 
Settlement deposits54,143 90,810 54,143 90,810 
Total cash and cash equivalents$253,411 $268,670 $253,411 $268,670 


Three Months Ended
September 30,		Nine Months Ended
September 30,
Adjusted EBITDA (millions)2025202420252024
Net income
$91.3 $81.4 $162.3 $104.6 
Plus:
Income tax expense
26.9 25.9 45.3 35.6 
Net interest expense11.1 14.5 32.3 44.0 
Net other (income) expense(1.6)0.8 (18.9)1.7 
Depreciation expense3.2 7.8 9.6 15.0 
Amortization expense21.0 23.7 62.7 71.7 
Non-cash stock-based compensation expense17.4 11.3 45.4 30.2 
Adjusted EBITDA before significant transaction-related expenses$169.3 $165.4 $338.7 $302.8 
Significant transaction-related expenses:
Cost reduction strategies1.2 1.2 6.3 4.3 
Other0.1 0.3 0.5 1.0 
Adjusted EBITDA$170.6 $166.9 $345.5 $308.1 
Revenue, net of interchange:
Revenue$482.4 $451.8 $1,278.2 $1,141.3 
Interchange135.3 117.1 417.1 353.6 
Revenue, net of interchange$347.1 $334.7 $861.1 $787.7 
Net Adjusted EBITDA Margin49 %50 %40 %39 %

Three Months Ended
September 30,		Nine Months Ended
September 30,
Segment Information (millions)2025202420252024
Revenue
Payment Software
$284.0 $272.2 $664.1 $595.0 
Biller
198.3 179.6 614.1 546.3 
Total$482.4 $451.8 $1,278.2 $1,141.3 
Recurring Revenue
Payment Software
$100.0 $91.3 $291.6 $272.2 
Biller
198.3 179.6 614.1 546.3 
Total$298.3 $270.9 $905.7 $818.5 
Segment Adjusted EBITDA
Payment Software
$181.7 $180.6 $371.5 $327.5 
Biller
32.1 30.9 102.8 99.1 

Note: Amounts may not recalculate due to rounding.


Three Months Ended September 30,
20252024
EPS Impact of Non-cash and Significant Transaction-related Items (millions)EPS Impact$ in Millions
(Net of Tax)		EPS Impact$ in Millions
(Net of Tax)
GAAP net income$0.88 $91.3 $0.77 $81.4 
Adjusted for:
Significant transaction-related expenses0.01 0.9 0.04 4.5 
Amortization of acquisition-related intangibles0.04 4.2 0.05 5.4 
Amortization of acquisition-related software0.03 3.2 0.03 3.4 
Non-cash stock-based compensation0.13 13.7 0.08 8.6 
Total adjustments$0.21 $22.0 $0.20 $21.9 
Diluted EPS adjusted for non-cash and significant transaction-related items$1.09 $113.3 $0.97 $103.3 

Nine Months Ended September 30,
20252024
EPS Impact of Non-cash and Significant Transaction-related Items (millions)EPS Impact$ in Millions
(Net of Tax)		EPS Impact$ in Millions
(Net of Tax)
GAAP net income
$1.54 $162.3 $0.98 $104.6 
Adjusted for:
Gain on sale of equity investment
(0.21)(21.7)— — 
Significant transaction-related expenses0.05 5.0 0.07 7.4 
Amortization of acquisition-related intangibles0.12 12.5 0.17 18.1 
Amortization of acquisition-related software0.09 9.7 0.09 10.1 
Non-cash stock-based compensation0.34 35.9 0.21 22.9 
Total adjustments$0.39 $41.4 $0.54 $58.5 
Diluted EPS adjusted for non-cash and significant transaction-related items$1.93 $203.7 $1.52 $163.1 

Three Months Ended
September 30,		Nine Months Ended
September 30,
Recurring Revenue (millions)2025202420252024
SaaS and PaaS fees$246.9 $223.4 $755.3 $674.5 
Maintenance fees51.4 47.5 150.5 144.0 
Recurring Revenue$298.3 $270.9 $905.7 $818.5 

New Bookings (millions)Three Months Ended
September 30,		TTM Ended September 30,
2025202420252024
Annual recurring revenue (ARR) bookings$12.6 $11.1 $81.1 $59.3 
License and services bookings81.4 67.0 304.5 281.5 

Note: Amounts may not recalculate due to rounding.