ACI Worldwide, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ACI Worldwide, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ACI WORLDWIDE, INC. (ACIW) filed a Annual Report (10-K) with the SEC on February 29, 2024. ACI Worldwide, Inc. filed its 2023 Form 10-K report for the fiscal year ending December 31, 2023. The company's primary business is in Services-Prepackaged Software (SIC 7372). ACI Worldwide, Inc. was formerly known as Transaction Systems Architects Inc. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. The company's principal executive offices are located in Elkhorn, Nebraska.

Why It Matters

For investors and stakeholders tracking ACI WORLDWIDE, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ACI Worldwide's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's current standing and future prospects. As a key player in the software and payment processing industry, the details within this filing are vital for understanding market trends, competitive positioning, and potential regulatory impacts on ACI Worldwide's business model.

Risk Assessment

Risk Level: medium — ACI WORLDWIDE, INC. shows moderate risk based on this filing. The company operates in the software industry, which is subject to rapid technological changes and intense competition, potentially impacting its market share and revenue streams.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand ACI Worldwide's performance and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-29 — Filing Date (Filed as of date)
• 0000935036-24-000007 — Accession Number (SEC filing accession number)
• 101 — Public Document Count (Number of documents in the filing)

Key Players & Entities

• ACI WORLDWIDE, INC. (company) — Filer name
• ACIW (company) — Ticker symbol
• 10-K (filing) — Form type
• 2023-12-31 (date) — Conformed period of report
• 2024-02-29 (date) — Filed as of date
• Elkhorn, Nebraska (location) — Business address city and state
• Transaction Systems Architects Inc (company) — Former company name
• 7372 (industry_code) — Standard Industrial Classification

FAQ

Risk Factors

• Intense Competition and Technological Changes [medium — market]: The software industry is characterized by rapid technological advancements and a highly competitive landscape, which could adversely affect the company's ability to compete and maintain market share.

Industry Context

ACI Worldwide operates in the software industry, specifically focusing on payment systems and transaction processing solutions.

Regulatory Implications

The company's operations are subject to various financial regulations and data security standards relevant to the payment processing industry.

What Investors Should Do

1. Analyze the detailed financial statements for revenue trends and profitability.
2. Review the risk factors section for potential challenges and mitigation strategies.
3. Assess the company's competitive positioning within the payment processing software market.

Key Dates

• 2023-12-31: Fiscal Year End — The end of the reporting period for the 10-K filing.
• 2024-02-29: Filing Date — The date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K; comparative data from previous filings would be needed for a full analysis.

Key Financial Figures

• $0.005 — ange on which registered Common Stock, $0.005 par value ACIW Nasdaq Global Select Mar
• $23.17 — ice of the common stock on that date of $23.17 was $ 1,932,768,415 . For purposes of t
• $100.0 m — liabilities to One Equity Partners for $100.0 million, and a net working capital adjust

Filing Documents

• aciw-20231231.htm (10-K) — 1840KB
• aciw-20231231xexx0404.htm (EX-4.04) — 13KB
• aciw-20231231xexx2101.htm (EX-21.01) — 8KB
• aciw-20231231xexx2301.htm (EX-23.01) — 2KB
• aciw-20231231xexx3101.htm (EX-31.01) — 8KB
• aciw-20231231xexx3102.htm (EX-31.02) — 8KB
• aciw-20231231xexx3201.htm (EX-32.01) — 5KB
• aciw-20231231xexx3202.htm (EX-32.02) — 4KB
• aciw-20231231xexx971.htm (EX-97.1) — 35KB
• aciw-20231231_g1.gif (GRAPHIC) — 95KB
• 0000935036-24-000007.txt (&nbsp;) — 10485KB
• aciw-20231231.xsd (EX-101.SCH) — 70KB
• aciw-20231231_cal.xml (EX-101.CAL) — 115KB
• aciw-20231231_def.xml (EX-101.DEF) — 354KB
• aciw-20231231_lab.xml (EX-101.LAB) — 985KB
• aciw-20231231_pre.xml (EX-101.PRE) — 634KB
• aciw-20231231_htm.xml (XML) — 1505KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 22

C

Item 1 C . Cybersecurity 22 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety Disclosures 23 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 25 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 43 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 43 Item 9A.

Controls and Procedures

Controls and Procedures 43 Item 9B. Other Information 45 PART III Item 10. Directors, Executive Officers, and Corporate Governance 45 Item 11.

Executive Compensation

Executive Compensation 45 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 45 Item 13. Certain Relationships and Related Transactions, and Director Independence 45 Item 14. Principal Accounting Fees and Services 45 PART IV Item 15. Exhibits, Financial Statement Schedules 46

Signatures

Signatures 84 Table of Contents

Forward-Looking Statements

Forward-Looking Statements For purposes of this Annual Report on Form 10-K, the terms "ACI," "ACI Worldwide," the "Company," "we," "us," and "our" refer to ACI Worldwide, Inc. and its consolidated subsidiaries. This report 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, as amended. Forward-looking statements in this report include, but are not limited to, statements regarding future operations, business strategy, business environment, key trends, and, in each case, statements related to expected financial and other benefits. Many of these factors will be important in determining our actual future results. Any or all of the forward-looking statements in this report may turn out to be incorrect. They may be based on inaccurate assumptions or may not account for known or unknown risks and uncertainties. Consequently, no forward-looking statement can be guaranteed. Actual future results may vary materially from those expressed or implied in any forward-looking statements, and our business, financial condition and results of operations could be materially and adversely affected. In addition, we disclaim any obligation to update any forward-looking statements after the date of this report, except as required by law. All forward-looking statements in this report are expressly qualified by the risk factors discussed in our filings with the Securities and Exchange Commission ("SEC"). The cautionary statements in this report expressly qualify all of our forward-looking statements. Factors that could cause actual results to differ from those express

BUSINESS

ITEM 1. BUSINESS General ACI develops, markets, installs, and supports a broad line of software products and solutions primarily focused on facilitating real-time digital payments. ACI's enterprise payments capabilities target any channel, any network, and any payment type and our solutions empower customers to regain control, choice, and flexibility in today's complex payments environment, get to market more quickly, and reduce operational costs. ACI's solutions and services are used globally by banks, intermediaries, merchants, and billers, such as third-party digital payment processors, payment associations, switch interchanges, and a wide range of transaction-generating endpoints, including automated teller machines ("ATM"), merchant point-of-sale ("POS") terminals, bank branches, mobile phones, tablets, corporations, and internet commerce sites. The authentication, authorization, switching, settlement, fraud-checking, and reconciliation of digital payments is a complex activity due to the large number of locations and variety of sources from which transactions can be generated, the large number of participants in the market, high transaction volumes, geographically dispersed networks, differing types of authorization, and varied reporting requirements. These activities are typically performed online and are conducted 24 hours a day, seven days a week. ACI combines a global perspective with local presence to tailor digital payment solutions for our customers. We believe that we have one of the most diverse and robust digital payment solution portfolios in the industry with application software spanning the entire payments value chain. We also believe that our financial performance has been attributable to our ability to design and deliver quality products and solutions coupled with our ability to identify and successfully complete and integrate strategic acquisitions. ACI is a Delaware corporation incorporated in November 1993 under the name ACI Holding,

View Full Filing

View this 10-K filing on SEC EDGAR