ACI Worldwide, Inc.

Good day and thank you for standing by. Welcome to the ACI Q1 earnings announcement. At this time, all participants' lines are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. Thank you. I would now like to hand the conference over to your speaker today, Mr. John Kraft. Please go ahead, sir.

Thank you, and good morning, everyone. Today's call, like all of our events, is subject to both safe harbor and forward-looking statements. You can find the full text of both statements on the first and final pages of our presentation deck today, a copy of which is available on our website as well as with the SEC. On this morning's call is Ocalan Almeida, our president and CEO, and Scott Behrens, our CFO. With that, I'd like to turn the call over to Ocalan.

Thank you, John. Hello, everyone, and thank you for joining our first quarter 2021 earnings conference call. When we last spoke in February, we discussed our strong Q4 results and that our three-pillar strategy was progressing and already making the difference. Today, I'm happy to report another strong quarter. with results coming in above our expectations. Let me start by providing some color on our financial results. As expected, and unlike Q1 last year, Q1 this year was impacted by COVID-19 related headwinds. Despite of these headwinds, we were very pleased with our results and execution against our three pillar strategic plan. Our Q1 revenue of 285 million was down slightly versus previous year, but came in above our forecasted guidance range. Importantly, our recurring revenue grew 1%. Adjustability in the quarter was 45 million, up 19%, which was also above the high end of our guidance. Our net adjustability margin was 23%, which, despite the revenue reduction, was up 400 base points, from last year as we remain focused on cost management and profitability. For the full year, we are reaffirming our guidance and as previously discussed, we expect to reach the rule of 40 this year for the first time ever. We had some exciting new wins in the quarter across all segments. Of note, we are pleased to sign a new SpeedPay deal with Cascade Financial, a home loan finance company, which will allow Cascade's customers to benefit from more ways to pay their mortgage, including via mobile wallet using our Walletron application. We are also increasing our focus on securing wins with large, sophisticated, and global merchants. In the quarter, we signed a new deal with Red Lobster to consolidate their payment infrastructure to one vendor for both their in-store and e-commerce businesses, creating a seamless payment experience across all channels. We also signed a notable contract with a Middle Eastern payments facilitator for our omni-channel commerce solution. In Europe, we signed an acquired agnostic e-commerce contract with a new UK-based payment service provider. In the banking sector, we signed a new real-time contract with STAT, the largest ACH processor in France, as well as an expansionary contract with Union Bank of India. Importantly, we are hearing positive feedback from our customers that we affirm the benefit of our new Fit for Growth organizational structure, which has allowed for faster decision-making and increased responsiveness. While we anticipate headwinds resulting from COVID-related delays to continue through Q2, our strong first quarter results reaffirm my confidence in our business. As we progress on our strategy amid an improving economic outlook, we anticipate a strong second half performance. In addition to organic value creation, We continue to make progress on a complete strategic review of our business portfolio to enhance ACI's growth profile and maximize long-term value to our shareholders. With that, I will turn it over to Scott to discuss the financials. Scott?