ACIW - ACI Worldwide beats Q2 top and bottom line estimates; reaffirms FY23 outlook

2023-08-03 06:04:05 ET

• ACI Worldwide press release ( NASDAQ: ACIW ): Q2 GAAP EPS of -$0.06 beats by $0.08 .
• Revenue of $323.33M (-5.0% Y/Y) beats by $17.36M .
• Total adjusted EBITDA in the quarter was $57 million compared to $66 million in Q2 2022.
• New ARR bookings for the quarter were $13 million and new ARR bookings for the trailing twelve months ( TTM ) were $91 million, which was up 2% from the TTM ending June 2022.
• For the full year of 2023, the company expects revenue growth to be in the mid-single digits on a constant currency and divestiture-adjusted basis, or in the range of $1.436 billion to $1.466 billion. The company expects adjusted EBITDA to be in the range of $380 million to $395 million with net adjusted EBITDA margin expansion. The company expects revenue to be between $335 million and $345 million and adjusted EBITDA of $70 million to $80 million in Q3 2023.
• “As previously discussed, our renewal calendar is seasonally stronger in the second half this year, and with our new bookings and implementations tracking to plan, we remain confident in our outlook for 2023, as well as our revenue growth target of 7-9% in 2024.”

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