The company said on August 12, 2024 that deconversion revenue for the fiscal fourth quarter ended June 30, 2024 was $6.7 million.

1. 01

   The company said on August 12, 2024 that deconversion revenue for the fiscal fourth quarter ended June 30, 2024 was $6.7 million.

2. 02

   The company said deconversion revenue for the full fiscal year ended June 30, 2024 was $16.6 million.

3. 03

   The company said most deconversion revenue is generated when a customer agrees to be acquired by another financial institution, which terminates the customer's contract with the company. The company said the recognition of this revenue is driven by factors outside its control and does not represent the true operations of its ongoing business.

4. 04

   The company said the revenue does not represent the true operations of its ongoing business of providing services to customers. It said it excludes deconversion revenue from non-GAAP revenue in its quarterly and annual earnings releases.

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.

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

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