ACI Worldwide (ACIW) FY2022 results: revenue $1.4 billion, up 3.7% on the year

ACI Worldwide, Inc. (ACIW) reported revenue of $1.4 billion for fiscal 2022, the year ended 31 December 2022, up 3.7% on the year before. Net income was $142 million, up 11.3%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.

Revenue

$1.4 billion

+3.7% on the year

FY2015FY2022

Operating margin

14.3%

15.3% a year earlier

FY2015FY2022

Net income

$142 million

+11.3% on the year

FY2015FY2022

Diluted EPS

$1.24

+14.8% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,422	1,371	1,294	+3.7%
Cost of revenue	696	639	622	+9.0%
Gross profit	726	732	672	-0.8%
Gross margin	51.0%	53.4%	51.9%
Operating income	204	210	145	-2.9%
Operating margin	14.3%	15.3%	11.2%
Interest expense	53.2	45.1	56.6	+18.0%
Pre-tax income	207	175	98.6	+18.0%
Income tax	64.5	47.3	26.0	+36.3%
Effective tax rate	31.2%	27.0%	26.3%
Net income	142	128	72.7	+11.3%
Net margin	10.0%	9.3%	5.6%
Diluted EPS	$1.24	$1.08	$0.62	+14.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	143	220	315	-35.0%
Capital expenditure	13.1	20.6	17.8	-36.3%
Free cash flow	130	200	297	-34.8%
Free cash flow margin	9.2%	14.6%	23.0%
Cash from investing	60.2	-45.4	-30.7
Cash from financing	-171	-257	-160
Depreciation and amortisation	127	133	140	-4.5%
Share-based compensation	29.8	27.2	29.6	+9.2%
Buybacks	207	107	28.9	+92.3%
Diluted shares, weighted	114m	119m	118m	-3.7%
Shares outstanding at period end	108m	116m	117m	-6.6%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	1,193	1,245	1,207	-4.1%
Debt	1,090	1,066	1,155	+2.3%
Operating lease liabilities	33.9	43.3	40.0	-21.8%
Other liabilities	893	805	985	+10.9%
Total liabilities and equity	3,210	3,159	3,387	+1.6%
Fixed assets	52.5	63.0	64.7	-16.7%
Goodwill	1,226	1,280	1,280	-4.2%
Intangible assets	229	283	322	-19.2%
Cash and equivalents	125	122	165	+2.4%
Receivables	404	320	168	+26.0%
Other assets	1,174	1,090	1,387	+7.7%
Total assets	3,210	3,159	3,387	+1.6%

10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.