On today's call, we will discuss ACI Worldwide's Q4 and full year 2025 results, as well as our financial outlook for 2026. You can find the full text of these statements in our earnings press release and in our filings with the SEC. Tom will begin with an overview of our Q4 and full year performance, strategic highlights, and the progress we're making against our long-term plan. Bobby will then review our financial results in more detail, including segment performance, cash flow, and our outlook for 2026.
I appreciate you joining our Q4 and full year 2025 earnings call. For the full year 2025, we delivered $1.76 billion in total revenue. That's up 10% from 2024, and that was our second consecutive year of double-digit revenue growth. Adjusted EBITDA increased 9% to $507 million, and our adjusted net EBITDA margin expanded to 42%.
This gives us significant flexibility to continue executing on our growth agenda while also returning capital to shareholders. As a reminder, our strategy emphasizes growth within our core vertical markets, disciplined operational execution, and a return-driven approach to capital allocation. I also want to take a moment to discuss some of the important strategic successes we had at a segment level during 2025. In 2025, we took a major step forward in scaling our bank and merchant businesses by unifying them into a new segment we call Payment Software.
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