Jack Henry & Associates Announces Fourth Quarter 2024 Deconversion Revenue Results
Jack Henry & Associates (Nasdaq: JKHY) reported its fourth quarter 2024 deconversion revenue results. The company announced $6.7 million in deconversion revenue for the fiscal fourth quarter ended June 30, 2024, and $16.6 million for the full fiscal year 2024. Deconversion revenue primarily occurs when a Jack Henry customer is acquired by another financial institution, leading to contract termination. The company excludes this revenue from non-GAAP reports as it doesn't represent ongoing business operations. For updated guidance on deconversion revenue estimates, investors are directed to Jack Henry's August 3, 2023 Form 8-K filing with the SEC.
Jack Henry & Associates (Nasdaq: JKHY) ha riportato i risultati delle entrate da deconversione per il quarto trimestre del 2024. L'azienda ha annunciato 6,7 milioni di dollari di entrate da deconversione per il quarto trimestre fiscale concluso il 30 giugno 2024, e 16,6 milioni di dollari per l'intero anno fiscale 2024. Le entrate da deconversione si verificano principalmente quando un cliente di Jack Henry viene acquisito da un'altra istituzione finanziaria, portando alla risoluzione del contratto. L'azienda esclude queste entrate dai rapporti non-GAAP poiché non rappresentano le operazioni aziendali continuative. Per aggiornamenti sulle stime delle entrate da deconversione, gli investitori sono invitati a consultare il modulo 8-K depositato da Jack Henry presso la SEC il 3 agosto 2023.
Jack Henry & Associates (Nasdaq: JKHY) informó sobre los resultados de ingresos por deconversiones del cuarto trimestre de 2024. La empresa anunció 6,7 millones de dólares en ingresos por deconversiones para el cuarto trimestre fiscal que finalizó el 30 de junio de 2024, y 16,6 millones de dólares para todo el año fiscal 2024. Los ingresos por deconversiones se producen principalmente cuando un cliente de Jack Henry es adquirido por otra institución financiera, lo que lleva a la terminación del contrato. La empresa excluye estos ingresos de los informes no GAAP ya que no representan las operaciones comerciales continuas. Para actualizaciones sobre las estimaciones de ingresos por deconversiones, se dirige a los inversores al formulario 8-K que Jack Henry presentó a la SEC el 3 de agosto de 2023.
잭 헨리 & 어소시에이츠(Nasdaq: JKHY)는 2024년 4 분기 디컨버전 수익 결과를 발표했습니다. 회사는 2024년 6월 30일에 종료된 회계 연도 4분기 동안 670만 달러의 디컨버전 수익을, 전체 회계 연도 2024 동안 1660만 달러의 수익을 발표했습니다. 디컨버전 수익은 주로 잭 헨리 고객이 다른 금융 기관에 인수될 때 발생하여 계약이 종료됩니다. 회사는 이러한 수익을 비 GAAP 보고서에서 제외하며, 이는 지속적인 사업 운영을 나타내지 않기 때문입니다. 디컨버전 수익 추정에 대한 업데이트된 지침은 투자자들에게 2023년 8월 3일 잭 헨리가 SEC에 제출한 8-K 양식을 참고하라고 안내하고 있습니다.
Jack Henry & Associates (Nasdaq: JKHY) a rapporté ses résultats de revenus de déconversion pour le quatrième trimestre 2024. L'entreprise a annoncé 6,7 millions de dollars de revenus de déconversion pour le quatrième trimestre fiscal se terminant le 30 juin 2024, et 16,6 millions de dollars pour l'ensemble de l'année fiscale 2024. Les revenus de déconversion se produisent principalement lorsqu'un client de Jack Henry est acquis par une autre institution financière, entraînant la résiliation du contrat. L'entreprise exclut ces revenus des rapports non-GAAP car ils ne représentent pas les opérations commerciales continues. Pour des mises à jour sur les estimations des revenus de déconversion, les investisseurs sont dirigés vers le formulaire 8-K de Jack Henry déposé auprès de la SEC le 3 août 2023.
Jack Henry & Associates (Nasdaq: JKHY) hat die Ergebnisse für die Deconversion-Einnahmen des vierten Quartals 2024 bekannt gegeben. Das Unternehmen meldete 6,7 Millionen Dollar an Deconversion-Einnahmen für das im Jahr 2024 am 30. Juni endende fiscale vierte Quartal und 16,6 Millionen Dollar für das gesamte fiskalische Jahr 2024. Deconversion-Einnahmen entstehen hauptsächlich, wenn ein Kunde von Jack Henry von einer anderen Finanzinstitution übernommen wird, was zur Beendigung des Vertrags führt. Das Unternehmen schließt diese Einnahmen aus den Nicht-GAAP-Berichten aus, da sie nicht die fortlaufenden Geschäftsoperationen darstellen. Für aktuelle Informationen zu den Schätzungen der Deconversion-Einnahmen werden die Investoren auf die 8-K-Einreichung von Jack Henry bei der SEC vom 3. August 2023 verwiesen.
- Deconversion revenue of $6.7 million for Q4 2024
- Full fiscal year 2024 deconversion revenue of $16.6 million
- Deconversion revenue is excluded from non-GAAP reports as it doesn't represent ongoing business operations
- Deconversion revenue is driven by factors outside Jack Henry's control
Insights
Jack Henry's Q4 2024 deconversion revenue of
The company's decision to separate deconversion revenue highlights its commitment to transparent financial reporting. This approach allows for a clearer picture of Jack Henry's ongoing business operations, unaffected by external factors like customer acquisitions. For investors, this means focusing on the company's recurring revenue streams and core service offerings when evaluating its financial health and growth prospects.
The deconversion revenue figures provide a glimpse into the dynamics of the financial services industry. The
Investors should consider how this industry consolidation might affect Jack Henry's long-term growth strategy. While deconversion revenue provides short-term gains, it also represents a loss of recurring revenue from departing customers. The company's ability to attract new clients and expand services to existing ones will be important in offsetting these losses and maintaining sustainable growth in an evolving market landscape.
The majority of deconversion revenue is generated when one of Jack Henry's customers agrees to be acquired by another financial institution, resulting in the termination of the customer's contract with Jack Henry. In these circumstances, Jack Henry's recognition of deconversion revenue is driven by factors outside Jack Henry's control, and this revenue does not represent the true operations of Jack Henry's ongoing business of providing services to customers. As a result, Jack Henry excludes deconversion revenue from non-GAAP revenue reported in its quarterly and annual earnings releases.
Statements made in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in Jack Henry's Securities and Exchange Commission filings, including Jack Henry's most recent reports on Form 10-K and Form 10-Q, particularly under the heading Risk Factors. Any forward-looking statement made in this current report speaks only as of the date of the current report, and Jack Henry's expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.
About Jack Henry & Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
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SOURCE Jack Henry & Associates, Inc.
FAQ
What was Jack Henry & Associates' (JKHY) deconversion revenue for Q4 2024?
How much deconversion revenue did JKHY generate for the full fiscal year 2024?
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