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Jack Henry & Associates logoJack Henry & Associates JKHY

The company said on April 29, 2024 that deconversion revenue for the fiscal third quarter ended March 31, 2024 was $0.8 million.

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary

  1. The company said on April 29, 2024 that deconversion revenue for the fiscal third quarter ended March 31, 2024 was $0.8 million.

  2. Based on Q3 results, Jack Henry said its deconversion revenue estimate for full-year fiscal 2024 guidance remains at $16 million.

  3. Jack Henry said most deconversion revenue is generated when a customer agrees to be acquired by another financial institution, terminating the customer's contract. It said the timing of this revenue recognition is driven by factors outside its control.

  4. Jack Henry said deconversion revenue does not represent the true operations of its ongoing business. It said it excludes deconversion revenue from non-GAAP revenue in its quarterly and annual earnings releases.

Summary

AI-written

Analysis 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.

Fiscal 2024 Q3 deconversion revenue $0.8 million

The company said on April 29, 2024 that deconversion revenue for the fiscal third quarter ended March 31, 2024 was $0.8 million.

Source · Based on the filing body and exhibits

Full-year deconversion revenue estimate of $16 million maintained

Based on Q3 results, Jack Henry said its deconversion revenue estimate for full-year fiscal 2024 guidance remains at $16 million.

Source · Based on the filing body and exhibits

Company explains how deconversion revenue arises

Jack Henry said most deconversion revenue is generated when a customer agrees to be acquired by another financial institution, terminating the customer's contract. It said the timing of this revenue recognition is driven by factors outside its control.

Source · Based on the filing body and exhibits

Deconversion revenue excluded from non-GAAP revenue

Jack Henry said deconversion revenue does not represent the true operations of its ongoing business. It said 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.

View the original filing on SEC EDGAR ↗
Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.