CSG Systems Q2 2024: Revenue and Business Updates

TL;DR

CSG Q2 revenue $274.5M, broadband segment active. Acquisition details noted.

AI Summary

CSG Systems International Inc. reported its Q2 2024 results, with revenue from License and Service segments totaling $274.5 million for the period ending June 30, 2024. The company also provided financial data for the six months ended June 30, 2024, and June 30, 2023, showing activity in its Broadband, Cable, and Satellite business. Specific details on acquisitions and treasury stock are also included.

Why It Matters

This filing provides insight into CSG Systems' financial performance and strategic activities, impacting investors and stakeholders in the technology and services sector.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $274.5M — License and Service Revenue (Q2 2024)
• 20240630 — Reporting Period End Date (Quarterly Report)
• 20240808 — Filing Date (10-Q Submission)

Key Players & Entities

• CSG Systems International Inc. (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240808 (date) — Filing Date
• 169 Inverness Dr W, Suite 300, Englewood, CO 80112 (location) — Business Address
• $274.5 million (dollar_amount) — License and Service Revenue (Q2 2024)

FAQ

Key Financial Figures

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

Filing Documents

• csgs-20240630.htm (10-Q) — 1883KB
• csgs-ex10_28f.htm (EX-10.28F) — 23KB
• csgs-ex10_27y.htm (EX-10.27Y) — 337KB
• csgs-ex31_1.htm (EX-31.1) — 16KB
• csgs-ex31_2.htm (EX-31.2) — 16KB
• csgs-ex32_1.htm (EX-32.1) — 9KB
• 0000950170-24-093482.txt ( ) — 7736KB
• csgs-20240630.xsd (EX-101.SCH) — 1067KB
• csgs-20240630_htm.xml (XML) — 1174KB

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 (Unaudited) 3 Condensed Consolidated Statements of Income for the Quarters and Six Months Ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the Quarters and Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Quarters and Six Months Ended June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 25

- OTHER INFORMATION

Part II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5. Other Information 26 Item 6. Exhibits 26 Exhibit Index 27

Signatures

Signatures 28 2 CSG SYSTEMS INTERNATIONAL, INC. CONDENSED CONSOLIDATED BA LANCE SHEETS - UNAUDITED (in thousands) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 110,435 $ 186,264 Settlement and merchant reserve assets 232,054 274,699 Trade accounts receivable: Billed, net of allowance of $ 4,720 and $ 5,432 266,214 267,680 Unbilled 84,570 82,163 Income taxes receivable 10,028 1,345 Other current assets 55,740 50,075 Total current assets 759,041 862,226 Non-current assets: Property and equipment, net of depreciation of $ 131,573 and $ 121,816 59,111 65,545 Operating lease right-of-use assets 28,656 34,283 Software, net of amortization of $ 164,369 and $ 157,601 21,408 14,224 Goodwill 317,129 308,596 Acquired customer contracts, net of amortization of $ 128,867 and $ 126,469 46,818 35,879 Customer contract costs, net of amortization of $ 44,140 and $ 42,094 57,128 54,421 Deferred income taxes 54,934 57,855 Other assets 9,063 10,017 Total non-current assets 594,247 580,820 Total assets $ 1,353,288 $ 1,443,046 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 7,500 $ 7,500 Operating lease liabilities 14,841 15,946 Customer deposits 35,993 41,035 Trade accounts payable 52,862 46,406 Accrued employee compensation 49,765 84,380 Settlement and merchant reserve liabilities 229,636 273,817 Deferred revenue 56,145 54,199 Income taxes payable 645 4,104 Other current liabilities 29,057 33,449 Total current liabilities 476,444 560,836 Non-current liabilities: Long-term debt, net of unamortized discounts of $ 13,893 and $ 15,628 532,982 534,997 Operating lease liabilities 27,722 34,360 Deferred revenue 22,375 23,447 Income taxes payable 3,241 3,041 Deferred income taxes 122

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View this 10-Q filing on SEC EDGAR