CSG Systems International Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>CSG Systems International Inc. has filed its 2023 10-K report detailing financial performance and operations.</b>

AI Summary

CSG SYSTEMS INTERNATIONAL INC (CSGS) filed a Annual Report (10-K) with the SEC on February 16, 2024. CSG Systems International Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing includes financial data and business operations for the period. Key financial instruments mentioned include the 2021 Credit Agreement, 2021 Term Loan, and 2016 Senior Convertible Notes. Customer concentration risk is noted, specifically with Charter. The company's fiscal year ends on December 31st.

Why It Matters

For investors and stakeholders tracking CSG SYSTEMS INTERNATIONAL INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of CSG Systems International Inc.'s financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors to assess the company's performance and future outlook. The report details specific financial instruments, customer relationships (like Charter), and revenue segments, offering insights into the company's business model and potential areas of growth or concern.

Risk Assessment

Risk Level: medium — CSG SYSTEMS INTERNATIONAL INC shows moderate risk based on this filing. The company faces customer concentration risk, particularly with Charter, which could impact revenue if this major client's business needs change.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand CSG Systems International Inc.'s revenue streams, debt obligations, and potential market challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-02-16 — Filing Date (Date of submission)
• 106 — Public Document Count (Number of documents in the filing)
• 000-27512 — SEC File Number (Company's SEC file number)

Key Players & Entities

• CSG SYSTEMS INTERNATIONAL INC (company) — Filer name
• Charter (company) — Customer concentration risk
• 2023-12-31 (date) — Fiscal year end
• 2024-02-16 (date) — Filing date
• 10-K (document) — Form type
• DE (location) — State of incorporation
• CO (location) — Business address state
• 3037962850 (phone) — Business phone

FAQ

Risk Factors

• Customer Concentration Risk [medium — market]: The company faces significant customer concentration risk, particularly with Charter, which could adversely affect its financial results if Charter's business needs change or its relationship with CSG is altered.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-16: Filing Date — Date the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview for CSG Systems International Inc.)

Customer Concentration Risk

The risk associated with having a significant portion of a company's revenue derived from a small number of customers. (Highlights potential vulnerability in CSG Systems International Inc.'s revenue base due to reliance on key clients like Charter.)

Key Financial Figures

• $0.01 — ch Registered Common Stock, Par Value $0.01 Per Share CSGS NASDAQ Stock Market

Filing Documents

• csgs-20231231.htm (10-K) — 3724KB
• csgs-ex10_27x.htm (EX-10.27X) — 68KB
• csgs-ex10_28c.htm (EX-10.28C) — 81KB
• csgs-ex21_01.htm (EX-21.01) — 33KB
• csgs-ex23_01.htm (EX-23.01) — 3KB
• csgs-ex31_01.htm (EX-31.01) — 19KB
• csgs-ex31_02.htm (EX-31.02) — 18KB
• csgs-ex32_01.htm (EX-32.01) — 12KB
• csgs-ex97_00.htm (EX-97.00) — 44KB
• img65008399_0.jpg (GRAPHIC) — 60KB
• 0000950170-24-016286.txt (&nbsp;) — 16100KB
• csgs-20231231.xsd (EX-101.SCH) — 2047KB
• csgs-20231231_htm.xml (XML) — 3284KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 20 Item 1C. Cybersecurity 20 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 25 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 69 Item 9A.

Controls and Procedures

Controls and Procedures 69 Item 9B. Other Information 69 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 69 PART III Item 10. Directors, Executive Officers and Corporate Governance 70 Item 11.

Executive Compensation

Executive Compensation 70 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 70 Item 13. Certain Relationships and Related Transactions, and Director Independence 70 Item 14. Principal Accounting Fees and Services 70 PART IV Item 15. Exhibits, Financial Statement Schedules 70 Item 16. Form 10-K Summary 70

Signatures

Signatures 78 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Form 10-K, including Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations", contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other reports filed with the Securities and Exchange Commission, in materials delivered to stockholders, and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Forward-looking statements relate to future events and typically address our expected future business and financial performance. Statements in this report that are not historical facts are forward-looking statements. Words such as "expect," "anticipate," "intend," "plan," "aspire," "believe," "seek," "see," "will," "would," "may," "target," and similar expressions and variations or negatives of these words, typically identify such forward-looking statements. These include, among others, statements relating to: relationships with and financial condition of our significant customers; fluctuations in credit market conditions, general global economic and political conditions, and foreign currency exchange rates; our ability to maintain a reliable, secure computing environment; continued market acceptance of our products and services; our ability to continuously develop and enhance products in a timely, cost-effective, technically advanced, and competitive manner; our ability to deliver our solutions in a timely fashion within budget, particularly large software implementations; our dependency on the industries in which we serve; our ability to meet our financial expectations; increasing competition in our market from companies of greater size and with broader presence; our ability to successfully integrate and manage acquired businesses or assets to achieve expected strategic, op

Business

Item 1. Business Who We Are CSG Systems International, Inc. (the "Company", "CSG", or forms of the pronoun "we") is a purpose-driven, SaaS platform company that enables global companies in a wide variety of industry verticals to tackle the ever-growing complexity of business in the digital age. Our cloud-first architecture and customer-centric approach empower companies to deliver unforgettable experiences for their B2B (business-to-business), B2C (business-to-consumer), and B2B2X (business-to-business-to-consumer) customers, making it easier for people and businesses to connect to, use and pay for the services they value most. CSG manages billions of critical customer interactions annually, and we do it with a singular focus – an obsession on our customers' success. As a global technology leader, we aspire to envision, invent, and shape a better, more future-ready world. Specifically, our mission is focused on helping some of the world's most recognizable brands compete and win in the digital age by making it easier for their customers to do business. Every company needs to make it easier for their consumer and enterprise customers to do business with them in the customers' preferred channel of choice. They need to make it easier for customers to identify which product or service is right for them; easier to buy, procure, provision, and pay for their goods and services; easier to communicate with or get updates from them; and easier to modify the goods/services they buy. This is exactly where CSG's SaaS platforms come in. Industry leaders in telecom, broadband cable, media, retail, healthcare, financial services, insurance, government, and other industries leverage the power of our technology to compete and win in the digital age. Our 6,000-plus employees around the globe have made CSG a trusted technology leader and SaaS platform company to some of the biggest and most innovative brands around the world. Our corporate headquarters is located at 169 Inv

View Full Filing

View this 10-K filing on SEC EDGAR