CSG Systems International Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CSG Systems International Inc. filed its Q1 2024 10-Q report, detailing financial positions and key agreements.</b>

AI Summary

CSG SYSTEMS INTERNATIONAL INC (CSGS) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. CSG Systems International Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to common stock, treasury stock, and additional paid-in capital as of March 31, 2024. Financial instruments such as the 2021 Credit Agreement, 2021 Term Loan, and 2023 Senior Convertible Notes are referenced. Revenue segments include Software as a Service and Related Solutions, License and Service, and Broadband Cable Satellite. The company's fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking CSG SYSTEMS INTERNATIONAL INC, this filing contains several important signals. This filing provides an updated snapshot of CSG's financial health and capital structure as of the end of the first quarter of 2024. Investors can analyze the company's revenue streams and debt instruments to assess performance and financial risk.

Risk Assessment

Risk Level: medium — CSG SYSTEMS INTERNATIONAL INC shows moderate risk based on this filing. The filing is a standard 10-Q, which provides routine financial updates. Specific risks are not detailed in this header information, but the nature of a 10-Q implies ongoing business operations with inherent market and financial risks.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand revenue growth, profitability, and debt levels for Q1 2024.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 30-09-2028 — Maturity Date (csgs:TwoThousandTwentyThreeSeniorConvertibleNotesMember)
• 30-09-2026 — Maturity Date (csgs:TwoThousandTwentyOneTermLoanMember)

Key Players & Entities

• CSG SYSTEMS INTERNATIONAL INC (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-02 (date) — FILED AS OF DATE
• DE (jurisdiction) — STATE OF INCORPORATION
• 1934 Act (regulation) — SEC ACT
• 000-27512 (filing_id) — SEC FILE NUMBER
• 169 INVERNESS DR W (address) — BUSINESS ADDRESS STREET 1
• ENGLEWOOD (city) — BUSINESS ADDRESS CITY

FAQ

Key Financial Figures

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

Filing Documents

• csgs-20240331.htm (10-Q) — 1471KB
• csgs-ex10_28d.htm (EX-10.28D) — 339KB
• csgs-ex10_85.htm (EX-10.85) — 102KB
• csgs-ex10_28e.htm (EX-10.28E) — 37KB
• csgs-ex31_1.htm (EX-31.1) — 16KB
• csgs-ex31_2.htm (EX-31.2) — 15KB
• csgs-ex32_1.htm (EX-32.1) — 9KB
• 0000950170-24-051767.txt (&nbsp;) — 7006KB
• csgs-20240331.xsd (EX-101.SCH) — 1180KB
• csgs-20240331_htm.xml (XML) — 916KB

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (Unaudited) 3 Condensed Consolidated Statements of Income for the Quarters ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the Quarters ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Quarters ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Quarters ended March 31, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 24

- OTHER INFORMATION

Part II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 5. Other Information 25 Item 6. Exhibits 25 Exhibit Index 26

Signatures

Signatures 27 2 CSG SYSTEMS INTERNATIONAL, INC. CONDENSED CONSOLIDATED BA LANCE SHEETS - UNAUDITED (in thousands) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 120,810 $ 186,264 Settlement and merchant reserve assets 192,962 274,699 Trade accounts receivable: Billed, net of allowance of $ 5,692 and $ 5,432 275,359 267,680 Unbilled 84,347 82,163 Income taxes receivable 2,364 1,345 Other current assets 57,960 50,075 Total current assets 733,802 862,226 Non-current assets: Property and equipment, net of depreciation of $ 126,435 and $ 121,816 60,834 65,545 Operating lease right-of-use assets 31,472 34,283 Software, net of amortization of $ 160,580 and $ 157,601 13,406 14,224 Goodwill 306,581 308,596 Acquired customer contracts, net of amortization of $ 127,773 and $ 126,469 33,477 35,879 Customer contract costs, net of amortization of $ 39,539 and $ 42,094 54,535 54,421 Deferred income taxes 49,552 57,855 Other assets 9,293 10,017 Total non-current assets 559,150 580,820 Total assets $ 1,292,952 $ 1,443,046 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 7,500 $ 7,500 Operating lease liabilities 15,400 15,946 Customer deposits 36,967 41,035 Trade accounts payable 43,768 46,406 Accrued employee compensation 44,006 84,380 Settlement and merchant reserve liabilities 191,498 273,817 Deferred revenue 56,404 54,199 Income taxes payable 1,886 4,104 Other current liabilities 23,738 33,449 Total current liabilities 421,167 560,836 Non-current liabilities: Long-term debt, net of unamortized discounts of $ 14,764 and $ 15,628 533,986 534,997 Operating lease liabilities 31,099 34,360 Deferred revenue 23,382 23,447 Income taxes payable 3,117 3,041 Deferred income taxes 12

View Full Filing

View this 10-Q filing on SEC EDGAR