Jack Henry & Associates Files 2024 10-K

TL;DR

JKHY 2024 10-K is in. Full FY24 financials out.

AI Summary

Jack Henry & Associates Inc. filed its 2024 10-K report on August 26, 2024, covering the fiscal year ending June 30, 2024. The company, based in Monett, MO, operates in the computer integrated systems design industry. Key financial figures and operational details for the fiscal year are presented in this comprehensive annual filing.

Why It Matters

This filing provides a detailed look at Jack Henry's financial performance and strategic positioning for the fiscal year 2024, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a publicly traded company, providing routine disclosures.

Key Numbers

• 7,119 — Total Assets (As of June 30, 2024)
• 307 — Accrued Liabilities (As of June 30, 2024)
• 6,713 — Total Liabilities (As of June 30, 2024)
• 2,594 — Other Assets (Noncurrent) (As of June 30, 2024)
• 1,286 — Other Liabilities (Noncurrent) (As of June 30, 2024)

Key Players & Entities

• Jack Henry & Associates Inc. (company) — Filer of the 10-K report
• Monett, MO (location) — Company headquarters location
• 2024-06-30 (date) — Fiscal year end date
• 2024-08-26 (date) — Filing date of the 10-K

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock ($0.01 par value) JKHY Nasdaq Global Select
• $50 billion — nks and savings institutions with up to $50 billion in assets. Our systems are designed to
• $100 billion — able of serving institutions with up to $100 billion in assets, and we complete annual, thir
• $23.7 — compound annual rate of 6% and totaled $23.7 trillion as of December 31, 2023. There
• $2.3 — compound annual rate of 9% and totaled $2.3 trillion as of December 31, 2023. Comm
• $1 billion — y serves banks with assets ranging from $1 billion to $50 billion. Some progressive smalle
• $5 billion — vo institutions to those with assets of $5 billion. Core Director , a cost-efficient syst
• $2 billion — stitutions to those with assets of over $2 billion. Core credit union platform is: Symit
• $20 million — credit unions with assets ranging from $20 million to $30 billion, and according to Nation
• $30 b — with assets ranging from $20 million to $30 billion, and according to National Credit
• $25 million — ore credit unions with assets exceeding $25 million than any other core system. Clients el

Filing Documents

• jkhy-20240630.htm (10-K) — 1353KB
• jkhy-20240630xex41.htm (EX-4.1) — 21KB
• jkhy-20240630xex1079.htm (EX-10.79) — 25KB
• jkhy-20240630xex191.htm (EX-19.1) — 56KB
• jkhy-20240630xex211.htm (EX-21.1) — 5KB
• jkhy-20240630xex231.htm (EX-23.1) — 2KB
• jkhy-20240630xex311.htm (EX-31.1) — 8KB
• jkhy-20240630xex312.htm (EX-31.2) — 8KB
• jkhy-20240630xex321.htm (EX-32.1) — 4KB
• jkhy-20240630xex322.htm (EX-32.2) — 4KB
• jkhy-20240630xex971.htm (EX-97.1) — 48KB
• jkhy-20240630_g1.jpg (GRAPHIC) — 85KB
• 0000779152-24-000079.txt ( ) — 8314KB
• jkhy-20240630.xsd (EX-101.SCH) — 43KB
• jkhy-20240630_cal.xml (EX-101.CAL) — 77KB
• jkhy-20240630_def.xml (EX-101.DEF) — 268KB
• jkhy-20240630_lab.xml (EX-101.LAB) — 718KB
• jkhy-20240630_pre.xml (EX-101.PRE) — 495KB
• jkhy-20240630_htm.xml (XML) — 1121KB

RISK FACTORS

ITEM 1A. RISK FACTORS 14

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 20 ITEM 1C. C YBERSECURITY 20

PROPERTIES

ITEM 2. PROPERTIES 21

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 21

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 21 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 22

[RESERVED]

ITEM 6. [RESERVED] 23

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 24

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 32

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 33

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 59

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 59

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 59

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 59 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 60

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 60

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 60

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 60

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 60 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 61

FORM 10-K SUMMARY

ITEM 16 FORM 10-K SUMMARY 63 3 In this report, all references to "Jack Henry," the "Company," "we," "us," and "our," refer to Jack Henry & Associates, Inc., and its wholly owned subsidiaries. Unless otherwise stated, references to particular years, quarters, months, or periods refer to the Company's fiscal years ended in June and the associated quarters, months, and periods of those fiscal years.

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, 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 (the "Exchange Act"). Forward-looking statements may appear throughout this report, including without limitation, in Management's Discussion and Analysis of Financial Condition and Results of Operations. Forward-looking statements generally are identified by the words "believe," "project," "expect," "seek," "anticipate," "estimate," "future," "intend," "plan," "strategy," "predict," "likely," "should," "will," "would," "could," "can," "may," and similar expressions. Forward-looking statements are based only on management's current beliefs, expectations and assumptions regarding the future of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. 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 this Annual Report on Form 10-K, in particular, those included in Item 1A, "Risk Factors" of this report, and those discussed in other documents we file with the SEC. Any forward-looking statement made in this report speaks only as of the date of this report, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise. 4 PART I

BUSINESS

ITEM 1. BUSINESS Jack Henry & Associates, Inc. is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. For more than 48 years, we have provided technology solutions to help banks and credit unions innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 financial institutions and diverse corporate entities with people-inspired innovation, personal service, and insight-driven solutions. Mission Statement We strengthen the connections between people and their financial institutions through technology and services that reduce the barriers to financial health. This philosophy has always been part of the foundation on which Jack Henry was built. Our founders, Jack Henry and Jerry Hall, were committed to their community and believed they could help financial institutions better serve the needs of people and businesses using more innovative technology and services. Since our founding in 1976, much has changed, but our commitment to supporting community and regional financial institutions remains unwavering. We continue to be guided by our founding principles: do the right thing, do whatever it takes, and have fun. Who We Serve We provide products and services primarily to community and regional financial institutions (see "Our Industry" below): Core bank integrated data processing systems are provided to over 940 banks. Our banking solutions support both on-premise and private cloud operating environments with functionality for core processing platforms and integrated complementary solutions. Core credit union data processing solutions are provided to credit unions of all sizes, with a client base of approximately 720 credit unions. We offer a flagship core processing platform and integrated complementary solutions that support both on-premise and private cloud operating

View Full Filing

View this 10-K filing on SEC EDGAR