CSG Systems International Inc. Files Q3 2024 10-Q

TL;DR

CSG Q3 10-Q filed. Financials and convertible notes detailed.

AI Summary

CSG Systems International Inc. reported its Q3 results for the period ending September 30, 2024. The company's filing details financial performance and operational updates, including information related to its common stock and convertible notes. Specific financial figures and dates are available within the detailed sections of the report.

Why It Matters

This filing provides investors with the latest financial performance data for CSG Systems International Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but specific details on convertible notes and potential contract terminations introduce moderate risk factors.

Key Numbers

• Q3 2024 — Reporting Period (Quarterly filing for the period ending September 30, 2024.)
• 2024-09-30 — End of Reporting Period (Specific date for the financial data presented.)
• 2024-11-07 — Filing Date (Date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• CSG SYSTEMS INTERNATIONAL INC (company) — Filer
• 20240930 (date) — Conformed Period of Report
• 20241107 (date) — Filed as of Date
• 169 INVERNESS DR W (address) — Business Address
• ENGLEWOOD (location) — City
• CO (location) — State
• 80112 (zip_code) — Business Zip Code
• 3037962850 (phone_number) — Business Phone
• TwoThousandTwentyThreeSeniorConvertibleNotesMember (financial_instrument) — Specific financial instrument mentioned
• ContractTerminationMember (event) — Mentioned in relation to financial periods

FAQ

Key Financial Figures

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

Filing Documents

• csgs-20240930.htm (10-Q) — 2108KB
• csgs-ex10_27z.htm (EX-10.27Z) — 51KB
• csgs-ex31_1.htm (EX-31.1) — 16KB
• csgs-ex31_2.htm (EX-31.2) — 16KB
• csgs-ex32_1.htm (EX-32.1) — 9KB
• 0000950170-24-122869.txt ( ) — 7712KB
• csgs-20240930.xsd (EX-101.SCH) — 1065KB
• csgs-20240930_htm.xml (XML) — 1220KB

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (Unaudited) 3 Condensed Consolidated Statements of Income for the Quarters and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the Quarters and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Quarters and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 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 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

- OTHER INFORMATION

Part II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 5. Other Information 29 Item 6. Exhibits 29 Exhibit Index 30

Signatures

Signatures 31 2 CSG SYSTEMS INTERNATIONAL, INC. CONDENSED CONSOLIDATED BA LANCE SHEETS - UNAUDITED (in thousands) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 118,444 $ 186,264 Settlement and merchant reserve assets 240,755 274,699 Trade accounts receivable: Billed, net of allowance of $ 4,810 and $ 5,432 279,930 267,680 Unbilled 82,585 82,163 Income taxes receivable 13,992 1,345 Other current assets 51,534 50,075 Total current assets 787,240 862,226 Non-current assets: Property and equipment, net of depreciation of $ 136,641 and $ 121,816 58,353 65,545 Operating lease right-of-use assets 25,842 34,283 Software, net of amortization of $ 168,808 and $ 157,601 22,953 14,224 Goodwill 323,449 308,596 Acquired customer contracts, net of amortization of $ 134,742 and $ 126,469 42,786 35,879 Customer contract costs, net of amortization of $ 46,641 and $ 42,094 60,490 54,421 Deferred income taxes 57,831 57,855 Other assets 8,502 10,017 Total non-current assets 600,206 580,820 Total assets $ 1,387,446 $ 1,443,046 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 7,500 $ 7,500 Operating lease liabilities 14,002 15,946 Customer deposits 37,716 41,035 Trade accounts payable 51,907 46,406 Accrued employee compensation 57,704 84,380 Settlement and merchant reserve liabilities 238,783 273,817 Deferred revenue 62,797 54,199 Income taxes payable 937 4,104 Other current liabilities 28,163 33,449 Total current liabilities 499,509 560,836 Non-current liabilities: Long-term debt, net of unamortized discounts of $ 13,014 and $ 15,628 531,986 534,997 Operating lease liabilities 24,427 34,360 Deferred revenue 22,968 23,447 Income taxes payable 2,684 3,041 Deferred income taxes 1

View Full Filing

View this 10-Q filing on SEC EDGAR