Jack Henry & Associates Inc. Files Q3 FY2024 10-Q Report

TL;DR

<b>Jack Henry & Associates Inc. has submitted its Q3 FY2024 10-Q filing, providing a detailed financial update for the quarter ending March 31, 2024.</b>

AI Summary

JACK HENRY & ASSOCIATES INC (JKHY) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. The company filed its 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. The report details financial performance and operational updates. Key financial data and disclosures are provided for the specified period. The filing is made in accordance with SEC regulations for quarterly reports.

Why It Matters

For investors and stakeholders tracking JACK HENRY & ASSOCIATES INC, this filing contains several important signals. This filing provides investors and analysts with the latest financial performance data, enabling informed investment decisions. Understanding the quarterly results is crucial for tracking the company's growth trajectory and operational efficiency in the competitive fintech sector.

Risk Assessment

Risk Level: low — JACK HENRY & ASSOCIATES INC shows low risk based on this filing. The company operates in the highly regulated financial services technology sector, but its consistent reporting and established market position suggest low overall risk.

Analyst Insight

Monitor the company's revenue growth and net income trends in subsequent filings to assess its continued performance in the fintech industry.

Key Numbers

• 1,797 — Other Assets Noncurrent (As of March 31, 2024)
• 5,456 — Other Assets Noncurrent (As of June 30, 2023)
• 7 — Accrued Liabilities Current (As of March 31, 2024)
• 24 — Accrued Liabilities Current (As of June 30, 2023)
• 135 — Other Liabilities Noncurrent (As of March 31, 2024)
• 243 — Other Liabilities Noncurrent (As of June 30, 2023)
• 1,711 — Customer Relationships (As of March 31, 2024)
• 5,004 — Customer Relationships (As of June 30, 2023)

Key Players & Entities

• JACK HENRY & ASSOCIATES INC (company) — Filer name
• JKHY (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-09 (date) — Filing date
• Q3 FY2024 (period) — Fiscal quarter

FAQ

Industry Context

Jack Henry & Associates Inc. operates in the financial technology sector, providing software and services to banks and credit unions.

Regulatory Implications

The company is subject to SEC regulations for its periodic financial reporting, including the filing of 10-Q forms.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze revenue and expense trends compared to previous periods.
3. Assess any new disclosures or risk factors mentioned in the report.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the Q3 FY2024 10-Q filing, providing updated financial information since the previous quarterly report.

Key Financial Figures

• $0.01 — ange on which registered Common Stock ($0.01 par value) JKHY Nasdaq Global Select

Filing Documents

• jkhy-20240331.htm (10-Q) — 999KB
• jkhy-20240331xex311.htm (EX-31.1) — 8KB
• jkhy-20240331xex312.htm (EX-31.2) — 8KB
• jkhy-20240331xex321.htm (EX-32.1) — 4KB
• jkhy-20240331xex322.htm (EX-32.2) — 4KB
• 0000779152-24-000033.txt (&nbsp;) — 6080KB
• jkhy-20240331.xsd (EX-101.SCH) — 35KB
• jkhy-20240331_cal.xml (EX-101.CAL) — 60KB
• jkhy-20240331_def.xml (EX-101.DEF) — 217KB
• jkhy-20240331_lab.xml (EX-101.LAB) — 580KB
• jkhy-20240331_pre.xml (EX-101.PRE) — 394KB
• jkhy-20240331_htm.xml (XML) — 819KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Condensed Consolidated Balance Sheets as of March 31, 2024, and June 30, 2023 (Unaudited)

ITEM 1. Condensed Consolidated Balance Sheets as of March 31, 2024, and June 30, 2023 (Unaudited) 4 Condensed Consolidated Statements of Income for the Three and Nine Months Ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 21

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures about Market Risk 30

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 30

Controls and Procedures 30

ITEM 4. Controls and Procedures 30

OTHER INFORMATION 30

PART II OTHER INFORMATION 30

Legal Proceedings 30

ITEM 1. Legal Proceedings 30

Unregistered Sales of Equity Securities and Use of Proceeds 31

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Other Information 31

ITEM 5. Other Information 31

Exhibits 32

ITEM 6. Exhibits 32 Signatures 33 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.

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 Quarterly Report on Form 10-Q, those discussed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, in particular, those included in Item 1A, "Risk Factors" of such report, and those discussed in other documents we file with the Securities and Exchange Commission ("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-loo

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS 3 Table of Contents JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In Thousands, Except Share and Per Share Data) March 31, 2024 June 30, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 27,254 $ 12,243 Receivables, net 263,416 361,252 Income tax receivable — 7,523 Prepaid expenses and other 158,725 169,178 Deferred costs 73,167 77,766 Total current assets 522,562 627,962 PROPERTY AND EQUIPMENT, net 215,733 205,664 OTHER ASSETS: Non-current deferred costs 177,378 161,465 Computer software, net of amortization 588,426 565,714 Other non-current assets 383,504 322,698 Customer relationships, net of amortization 58,949 65,528 Other intangible assets, net of amortization 19,149 19,998 Goodwill 804,797 804,797 Total other assets 2,032,203 1,940,200 Total assets $ 2,770,498 $ 2,773,826 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 26,902 $ 19,156 Accrued expenses 180,319 172,629 Accrued income taxes 20,494 — Deferred revenues 147,328 331,974 Total current liabilities 375,043 523,759 LONG-TERM LIABILITIES: Non-current deferred revenues 66,617 67,755 Deferred income tax liability 229,106 244,431 Debt, net of current maturities 250,000 275,000 Other long-term liabilities 69,801 54,371 Total long-term liabilities 615,524 641,557 Total liabilities 990,567 1,165,316 STOCKHOLDERS' EQUITY Preferred stock - $ 1 par value; 500,000 shares authorized, none issued — — Common stock - $ 0.01 par value; 250,000,000 shares authorized; 104,222,732 shares issued at March 31, 2024; 104,088,784 shares issued at June 30, 2023 1,042 1,041 Additional paid-in capital 610,305 583,836 Retained earnings 3,020,702 2,855,751 Less treasury stock at cost 31,323,119 shares at March 31, 2024; 31,194,351 shares at June 30, 2023 ( 1,852,118 ) ( 1,832,118 ) Total stockholders' equity 1,779,931 1,608,510

View Full Filing

View this 10-Q filing on SEC EDGAR