ACI WORLDWIDE, INC.
For the period ended Jun 30, 2026. Filed Aug 6, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 6, 2026
ACIW$60.02+0.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-07.
0000935036-26-000021
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0000935036-26-000028
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 145 previous paragraphs and 207 current paragraphs.
92 unchanged; 36 reworded; 72 added; 15 removed; 2 previous and 7 current paragraphs rearranged.
Tables are not compared: 5 previous and 6 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (72)
Current report
Total revenue for the three months ended June 30, 2026, increased $29.2 million, or 7%, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, total revenue for the three months ended June 30, 2026, increased $25.7 million, or 6%, as compared to the same period in 2025.
Current report
License revenue increased $12.1 million, or 21%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $2.1 million increase in license revenue during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The increase was driven by license renewal timing as well as the relative size of new license and capacity events during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
Services revenue increased $2.4 million, or 11%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The increase was primarily driven by the timing and magnitude of project-related work during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
Total operating expenses for the three months ended June 30, 2026, increased $19.4 million, or 5%, as compared to the same period in 2025.
Current report
•Total operating expenses for the three months ended June 30, 2026, included $0.4 million for cost reduction strategies and $3.1 million of other significant transaction-related expenses during the period, compared to $5.1 million for cost reduction strategies and $0.4 million of other significant transaction-related expenses for the same period in 2025.
Current report
•Adjusted for the impact of cost reduction strategies, significant transaction-related expenses, and foreign currency, total operating expenses for the three months ended June 30, 2026, increased $20.3 million, or 6%, as compared to the same period in 2025.
Current report
Cost of revenue increased $14.1 million, or 6%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
R&D expense increased $6.8 million, or 17%, during the three months ended June 30, 2026, as compared to the same period in 2025. The increase was primarily due to higher personnel and related expenses, including a $1.3 million increase in stock-based compensation expense.
Current report
Selling and marketing expense increased $1.9 million, or 6%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, selling and marketing expenses for the three months ended June 30, 2026, increased $1.5 million, or 5%, as compared to the same period in 2025.
Current report
•The increase was primarily due to higher personnel and related expenses and advertising and professional fees of $0.9 million and $0.6 million, respectively.
Current report
•General and administrative expenses for the three months ended June 30, 2026, included $0.4 million for cost reduction strategies and $3.1 million of other significant transaction-related expenses, compared to $5.1 million for cost reduction strategies and $0.4 million of other significant transaction-related expenses in the same period in 2025.
Current report
Depreciation and amortization decreased $0.2 million, or 1%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report
Other, net is primarily comprised of foreign currency transaction gains and losses. Other, net was $0.7 million of income and $6.4 million of expense for the three months ended June 30, 2026 and 2025, respectively. During the three months ended June 30, 2025, other, net also included the $1.1 million loss on extinguishment of debt as a result of the redemption of the 2026 Notes.
Current report
RESULTS OF OPERATIONS
Current report
Revenues
Current report
Total revenue for the six months ended June 30, 2026, increased $60.3 million, or 8%, as compared to the same period in 2025.
Current report
•The impact of certain foreign currencies strengthening against the U.S. dollar resulted in a $11.1 million increase in total revenue during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, total revenue for the six months ended June 30, 2026, increased $49.2 million, or 6%, as compared to the same period in 2025.
Current report
SaaS and PaaS revenue increased $38.4 million, or 8%, during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The impact of certain foreign currencies strengthening against the U.S. dollar resulted in $1.7 million increase in SaaS and PaaS revenue during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, SaaS and PaaS revenue for the six months ended June 30, 2026, increased $36.7 million, or 7%, as compared to the same period in 2025.
Current report
License Revenue
Current report
License revenue increased $15.6 million, or 11%, during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The impact of certain foreign currencies strengthening against the U.S. dollar resulted in a $5.8 million increase in license revenue during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, license revenue for the six months ended June 30, 2026, increased $9.8 million, or 7%, as compared to the same period in 2025.
Current report
•The increase was driven by the relative size of new license and capacity events during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
Maintenance Revenue
Current report
Maintenance revenue increased $3.4 million, or 3%, during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The impact of certain foreign currencies strengthening against the U.S. dollar resulted in a $1.9 million increase in maintenance revenue during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, maintenance revenue for the six months ended June 30, 2026, increased $1.5 million, or 1%, as compared to the same period in 2025.
Current report
•The increase was primarily driven by consumer price index uplifts on contracted maintenance.
Current report
Services Revenue
Current report
Services revenue increased $2.9 million, or 6%, during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.7 million increase in services revenue during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report
•Adjusted for the impact of foreign currency, services revenue for the six months ended June 30, 2026, increased $1.2 million, or 3%, as compared to the same period in 2025.
Showing the first 40 of 72 passages. Open the source sections for the rest.
Removed paragraphs (15)
Previous report
Total revenue for the three months ended March 31, 2026, increased $31.2 million, or 8%, as compared to the same period in 2025.
Previous report
•Adjusted for the impact of foreign currency, total revenue for the three months ended March 31, 2026, increased $23.5 million, or 6%, as compared to the same period in 2025.
Previous report
SaaS and PaaS revenue increased $24.9 million, or 10%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
License revenue increased $3.5 million, or 4%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $3.7 million increase in license revenue during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
Total operating expenses for the three months ended March 31, 2026, increased $32.2 million, or 10%, as compared to the same period in 2025.
Previous report
•Total operating expenses for the three months ended March 31, 2026, included $5.4 million for cost reduction strategies.
Previous report
•Adjusted for the impact of cost reduction strategies and foreign currency, total operating expenses for the three months ended March 31, 2026, increased $22.5 million, or 7%, compared to the same period in 2025.
Previous report
Cost of revenue increased $15.1 million, or 7%, during the three months ended March 31, 2026, compared to the same period in 2025.
Previous report
R&D expense increased $5.2 million, or 13%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
Selling and marketing expense decreased $2.0 million, or 6%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
General and administrative expense increased $12.6 million, or 46%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
•General and administrative expenses for the three months ended March 31, 2026, included $5.4 million for cost reduction strategies.
Previous report
Depreciation and amortization increased $1.3 million, or 5%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Previous report
Cash flows provided by operating activities of $64.2 million were $14.0 million lower for the three months ended March 31, 2026, compared to $78.2 million for the same period in 2025. Operating cash flows for the current quarter decreased primarily due to the timing of customer billings and payments.
Reworded paragraphs (36)
Previous wording
The following discussion should be read together with our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and with our financial statements and related notes contained in this Form 10-Q. Results for the three months ended March 31, 2026, are not necessarily indicative of results that may be attained in the future.
Current wording
The following discussion should be read together with our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and with our financial statements and related notes contained in this Form 10-Q. Results for the three and six months ended June 30, 2026, are not necessarily indicative of results that may be attained in the future.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $7.7 million increase in total revenue during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of certain foreign currencies strengthening against the U.S. dollar resulted in a $3.5 million increase in total revenue during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
Maintenance revenue increased $2.3 million, or 5%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
SaaS and PaaS revenue increased $13.5 million, or 5%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.5 million increase in SaaS and PaaS revenue during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.3 million increase in SaaS and PaaS revenue during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, SaaS and PaaS revenue for the three months ended March 31, 2026, increased $23.4 million, or 10%, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, SaaS and PaaS revenue for the three months ended June 30, 2026, increased $13.2 million, or 5%, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, license revenue for the three months ended March 31, 2026, decreased $0.2 million, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, license revenue for the three months ended June 30, 2026, increased $10.0 million, or 17%, as compared to the same period in 2025.
Previous wording
Services revenue increased $0.5 million, or 2%, during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
Maintenance revenue increased $1.1 million, or 2%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.5 million increase in maintenance revenue during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.4 million increase in maintenance revenue during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, maintenance revenue for the three months ended March 31, 2026, increased $0.8 million, or 2%, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, maintenance revenue for the three months ended June 30, 2026, increased $0.7 million, or 1%, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.0 million increase in services revenue during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.6 million increase in services revenue during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, services revenue for the three months ended March 31, 2026, decreased $0.5 million, or 2%, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, services revenue for the three months ended June 30, 2026, increased $1.8 million, or 8%, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $4.3 million increase in total operating expenses during the three months ended March 31, 2026, compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.1 million increase in total operating expenses during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.6 million increase in cost of revenue during the three months ended March 31, 2026, compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.5 million increase in cost of revenue during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, cost of revenue for the three months ended March 31, 2026, increased $13.5 million, or 6%, compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, cost of revenue for the three months ended June 30, 2026, increased $13.6 million, or 6%, as compared to the same period in 2025.
Previous wording
•The increase was primarily due to higher payment card interchange fees of $15.4 million, partially offset by lower personnel and related expenses of $1.9 million.
Current wording
•The increase was primarily due to higher payment card interchange fees of $14.6 million, partially offset by a decrease in personnel and related expenses of $1.0 million.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $1.2 million increase in selling and marketing expense during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.4 million increase in selling and marketing expenses during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.6 million increase in general and administrative expense during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.3 million increase in general and administrative expense during the three months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of cost reduction strategies and foreign currency, general and administrative expense increased $6.6 million, or 24%, for the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of cost reduction strategies, significant transaction-related expenses, and foreign currency, general and administrative expense for the three months ended June 30, 2026, decreased $1.5 million, or 5%, as compared to the same period in 2025.
Previous wording
•The increase was primarily due to higher professional and other legal fees of $5.4 million, and personnel and related expenses of $1.2 million.
Current wording
•The decrease was primarily due to a decrease in professional and other legal fees of $2.5 million, partially offset by an increase in personnel and related expenses of $1.0 million, including a $0.9 million increase in stock-based compensation expense.
Previous wording
Interest expense for the three months ended March 31, 2026, decreased $2.5 million, or 17% compared to the same period in 2025, primarily due to lower comparative debt balances as well as a decrease in interest rates.
Current wording
Interest expense for the three months ended June 30, 2026, decreased $2.5 million, or 18%, as compared to the same period in 2025, primarily due to lower comparative debt balances as well as a decrease in interest rates.
Previous wording
Interest income includes the portion of software license fees paid by customers under extended payment terms that is attributed to the significant financing component. Interest income for the three months ended March 31, 2026, decreased $0.5 million, or 11%, as compared to the same period in 2025.
Current wording
Interest income includes the portion of software license fees paid by customers under extended payment terms that is attributed to the significant financing component. Interest income for the three months ended June 30, 2026, increased $1.7 million, or 42%, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.7 million increase in R&D expenses during the three months ended March 31, 2026, compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.6 million increase in R&D expense during the six months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, R&D expenses for the three months ended March 31, 2026, increased $4.5 million, or 11%, compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, R&D expense for the six months ended June 30, 2026, increased $11.4 million, or 14%, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, selling and marketing expense decreased $3.2 million, or 10%, for the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, selling and marketing expense for the six months ended June 30, 2026, decreased $1.7 million, or 3%, as compared to the same period in 2025.
Previous wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.2 million increase in depreciation and amortization expense during the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•The impact of foreign currencies strengthening against the U.S. dollar resulted in a $0.2 million increase in depreciation and amortization expense during the six months ended June 30, 2026, as compared to the same period in 2025.
Previous wording
•Adjusted for the impact of foreign currency, depreciation and amortization expense increased $1.1 million, or 4%, for the three months ended March 31, 2026, as compared to the same period in 2025.
Current wording
•Adjusted for the impact of foreign currency, depreciation and amortization expenses for the six months ended June 30, 2026, increased $0.9 million, or 2%, as compared to the same period in 2025.
Previous wording
Other, net is primarily comprised of foreign currency transaction gains and losses. During the three months ended March 31, 2025, other, net also included the $25.9 million gain on the sale of the Company's equity method investment. Other, net was $1.5 million and $23.7 million of income for the three months ended March 31, 2026 and 2025, respectively.
Current wording
Other, net is primarily comprised of foreign currency transaction gains and losses. Other, net was $2.2 million and $17.3 million of income for the six months ended June 30, 2026 and 2025, respectively. During the six months ended June 30, 2025, other, net also included the $25.9 million gain on the sale of the Company's equity method investment and the $1.1 million loss on extinguishment of debt.
Previous wording
Payment Software Segment Adjusted EBITDA increased $6.8 million for the three months ended March 31, 2026, compared to the same period in 2025, due to a $12.7 million increase in revenue, primarily due to an increase in SaaS and PaaS and license revenues, partially offset by a $5.9 million increase in cash operating expense.
Current wording
Payment Software Segment Adjusted EBITDA increased $10.3 million for the three months ended June 30, 2026, compared to the same period in 2025, due to a $17.0 million increase in revenue primarily related to an increase in license revenues, partially offset by a $6.7 million increase in cash operating expense.
Previous wording
Biller Segment Adjusted EBITDA increased $3.1 million for the three months ended March 31, 2026, compared to the same period in 2025, due to a $18.4 million increase in revenue, partially offset by a $15.3 million increase in cash operating expense, primarily payment card interchange and processing fees.
Current wording
Biller Segment Adjusted EBITDA decreased $5.0 million for the three months ended June 30, 2026, compared to the same period in 2025, due to a $17.1 million increase in cash operating expense primarily for payment card interchange and other processing fees, partially offset by a $12.1 million increase in revenue.
Previous wording
Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. As of March 31, 2026, we had $161.8 million of cash and cash equivalents, of which $79.9 million was held by our foreign subsidiaries. The Company has recognized deferred income taxes for local country income and withholding taxes that could be incurred on distributions of certain non-U.S. earnings in foreign subsidiaries, as these earnings are not intended to be indefinitely reinvested.
Current wording
Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. As of June 30, 2026, we had $167.4 million of cash and cash equivalents, of which $77.4 million was held by our foreign subsidiaries. The Company has recognized deferred income taxes for local country income and withholding taxes that could be incurred on distributions of certain non-U.S. earnings in foreign subsidiaries, as these earnings are not intended to be indefinitely reinvested.
Previous wording
The decrease in total liquidity is primarily attributable to stock repurchase activity and payments on the Term Loan Facility, partially offset by cash generated from operations.
Current wording
The decrease in total liquidity was primarily attributable to share repurchase activity and payments on the Term Loan Facility, partially offset by cash generated from operations. Share repurchases under the Company's authorized repurchase program are executed throughout the year as market and business conditions warrant.
Previous wording
We repurchased 1,549,291 shares for $65.8 million under the program during the three months ended March 31, 2026. Under the program to date, we have repurchased 68,596,875 shares for approximately $1.4 billion. As of March 31, 2026, the maximum remaining amount authorized for purchase under the stock repurchase program was approximately $390.5 million. See Note 6, Common Stock and Treasury Stock, to our unaudited condensed consolidated financial statements in Part I of this Form 10-Q for additional information.
Current wording
We repurchased 2,497,220 shares for $107.4 million under the program during the six months ended June 30, 2026. Under the program to date, we have repurchased 69,544,804 shares for approximately $1.4 billion. As of June 30, 2026, the maximum remaining amount authorized for purchase under the stock repurchase program was approximately $349.0 million. See Note 6, Common Stock and Treasury Stock, to our unaudited condensed consolidated financial statements in Part I of this Form 10-Q for additional information.
Previous wording
During the first three months of 2026, we used cash of $14.5 million to purchase software, property, and equipment, as compared to $8.9 million during the same period in 2025. In addition, during the first three months of 2025, we received net proceeds of $46.0 million from the sale of our equity method investment.
Current wording
During the first six months of 2026, we used cash of $28.2 million to purchase software, property, and equipment, as compared to $16.5 million during the same period in 2025. In addition, during the first six months of 2025, we received net proceeds of $46.0 million from the sale of our equity method investment.
Previous wording
During the first three months of 2026, we used $65.3 million to repurchase common stock and $3.8 million for the repurchase of stock-based compensation awards for tax withholdings. In addition, we repaid a net $10.6 million on the Incremental Term Loan and $3.5 million of other debt payments. We received net proceeds of $1.0 million from the exercise of stock options and the issuance of common stock under our 2017 Employee Stock Purchase Plan, as amended, and $18.1 million for settlement assets and liabilities due to processing timing. During the first three months of 2025, we repaid a net $9.4 million on the Term Loan under the Amendment, $70.0 million on the Revolving Credit Facility, and $4.2 million of other debt payments. In addition, we used $14.4 million to repurchase common stock and $7.1 million for the repurchase of stock-based compensation awards for tax withholdings. We received net proceeds of $1.4 million from the exercise of stock options and the issuance of common stock under our 2017 Employee Stock Purchase Plan, as amended, and $88.3 million for settlement assets and liabilities due to processing timing.
Current wording
During the first six months of 2026, we used $106.8 million to repurchase common stock, $19.1 million for the repurchase of stock-based compensation awards for tax withholdings, and $6.6 million for settlement assets and liabilities due to processing timing. In addition, we repaid a net $21.3 million on the Term Loan and $10.7 million of other debt payments. We received net proceeds of $25.0 million on the Revolving Credit Facility and $3.1 million from the exercise of stock options and the issuance of common stock under our 2017 Employee Stock Purchase Plan, as amended. During the first six months of 2025, we repaid $400.0 million for the redemption of the 2026 Notes and $10.7 million of other debt payments. In addition, we used $133.8 million to repurchase common stock and $20.2 million for the repurchase of stock-based compensation awards for tax withholdings. We received net proceeds of $190.0 million on the Revolving Credit Facility and $181.3 million on the Term Loan, used for the redemption of the 2026 Notes. In addition, we received proceeds of $2.4 million from the exercise of stock options and the issuance of common stock under our 2017 Employee Stock Purchase Plan, as amended, and $61.6 million for settlement assets and liabilities due to processing timing.
Previous wording
For the three months ended March 31, 2026, there have been no material changes to the contractual obligations and commercial commitments disclosed in Item 7 of our Form 10-K for the fiscal year ended December 31, 2025.
Current wording
For the six months ended June 30, 2026, there have been no material changes to the contractual obligations and commercial commitments disclosed in Item 7 of our Form 10-K for the fiscal year ended December 31, 2025.
Previous wording
During the three months ended March 31, 2026, there were no significant changes to our critical accounting policies and estimates. Please refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in Part II, Item 7 of our Annual Report on Form 10-K for our fiscal year ended December 31, 2025, for a more complete discussion of our critical accounting policies and estimates.
Current wording
During the six months ended June 30, 2026, there were no significant changes to our critical accounting policies and estimates. Please refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in Part II, Item 7 of our Annual Report on Form 10-K for our fiscal year ended December 31, 2025, for a more complete discussion of our critical accounting policies and estimates.
Rearranged current paragraphs (7)
Current report — wording carried from elsewhere
General and administrative expense decreased $3.2 million, or 8%, during the three months ended June 30, 2026, as compared to the same period in 2025.
Current report — wording carried from elsewhere
The following table presents the condensed consolidated statements of operations, as well as the percentage relationship to total revenues for items included in our condensed consolidated statements of operations (in thousands):
Current report — wording carried from elsewhere
Six Month Period Ended June 30, 2026 Compared to the Six Month Period Ended June 30, 2025
Current report — wording carried from elsewhere
Software as a Service (“SaaS”) and Platform as a Service (“PaaS”) Revenue
Current report — wording carried from elsewhere
•The increase was primarily driven by new customer go-lives since June 30, 2025, and higher transaction volumes during the six months ended June 30, 2026, as compared to the same period in 2025.
Current report — wording carried from elsewhere
Interest expense for the six months ended June 30, 2026, decreased $5.0 million, or 17%, as compared to the same period in 2025, primarily due to lower comparative debt balances as well as a decrease in interest rates.
Current report — wording carried from elsewhere
See Note 10, Income Taxes, to our unaudited condensed consolidated financial statements in Part I of this Form 10-Q for additional information.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
•The increase was primarily due to higher personnel and related expenses.
Previous report — wording carried elsewhere
•The decrease was primarily due to lower personnel and related expenses.