ACI Worldwide Inc. (NASDAQ:ACIW) Q1 2024 Results Conference Call April 30, 2024 8:30 AM ET
Company Participants
John Kraft - Head of Strategy & Finance
Tom Warsop - CEO, President & Director
Scott Behrens - Executive VP, CFO & Chief Accounting Officer
Conference Call Participants
Pete Heckmann - D.A. Davidson
Jeff Cantwell - Seaport Research Partners
George Sutton - Craig-Hallum Capital
Trevor Williams - Jefferies
Charles Nabhan - Stephens
Operator
Thank you for standing by. My name is Eric, and I will be your conference operator today. At this time, I would like to welcome everyone to the ACI Worldwide Inc First Quarter 2024 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be question and answer session. [Operator Instructions] Thank you.
I would now like to turn the call over to John Kraft. Please go ahead.
John Kraft
Thank you, and good morning, everyone. On today's call, we will discuss the company's first quarter 2024 results and financial outlook for the rest of the year. We will then take your questions at the end. The slides accompanying this call and webcast can be found at aciworldwide.com under the Investor Relations tab and will remain available after the call.
Today's call is subject to safe harbor and forward-looking statements like all of our events. You can find the full text of both statements in our presentation deck and earnings release, both of which are available on our website and with the SEC.
On this morning's call is Tom Warsop our President and CEO; and Scott Behrens, our CFO.
With that, I'll turn the call over to Tom.
Tom Warsop
Thanks, John, and good morning, everyone. I appreciate you joining our first quarter 2024 earnings conference call. As usual, I'll start this morning with some brief comments on the quarter, then I'll hand it over to Scott to discuss the detailed financials and the outlook for the remainder of 2024, and then we'll open the line for questions.
Q1 results were ahead of our expectations. Total revenue was $316 million that was up 9% year-over-year. We were able to sign some expected contracts a little earlier than we forecast and some ramp-ups in our biller business tracked slightly better than we expected. I'd characterize these contracts as expansionary project specific deals with existing customers and then we also had opportunities that were in the pipeline and expected to sign a little bit later this year.