AI English summary of an SEC filing — figures as filed
Jack Henry & Associates JKHYJack Henry & Associates said on December 31, 2023 that deconversion revenue for Q2 was $4.9 million.
Key points
AI summaryJack Henry & Associates said on December 31, 2023 that deconversion revenue for Q2 was $4.9 million.
Based on these results, the company said deconversion revenue estimates for fiscal 2024 full-year guidance remain at $16 million.
The company said most deconversion revenue is generated when one of its customers agrees to be acquired by another financial institution, resulting in the termination of that customer's contract with Jack Henry.
Jack Henry said deconversion revenue recognition is driven by factors outside its control and does not represent the operations of its ongoing business of serving customers, so it excludes deconversion revenue from non-GAAP revenue in its quarterly and annual earnings releases.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Deconversion revenue for Q2 at $4.9 million
Jack Henry & Associates said on December 31, 2023 that deconversion revenue for Q2 was $4.9 million.
Source · Based on the filing body and exhibits
Full-year deconversion revenue estimate held at $16 million
Based on these results, the company said deconversion revenue estimates for fiscal 2024 full-year guidance remain at $16 million.
Source · Based on the filing body and exhibits
How Deconversion Revenue Is Generated
The company said most deconversion revenue is generated when one of its customers agrees to be acquired by another financial institution, resulting in the termination of that customer's contract with Jack Henry.
Source · Based on the filing body and exhibits
Deconversion Revenue Excluded from Non-GAAP Revenue
Jack Henry said deconversion revenue recognition is driven by factors outside its control and does not represent the operations of its ongoing business of serving customers, so it excludes deconversion revenue from non-GAAP revenue in its quarterly and annual earnings releases.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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