MONETT,
Mo., Jan. 27, 2025 /PRNewswire/ -- Jack Henry & Associates, Inc.®
(Nasdaq: JKHY) announced today that deconversion revenue for the
fiscal second quarter, ended December 31,
2024, was $0.1 million.
Deconversion revenue estimates remain at $16
million for full year fiscal 2025 guidance. For more
information about how guidance will be further updated for
deconversion revenue estimates, please see Jack Henry's Current Report on Form 8-K filed
with the Securities and Exchange Commission on August 3, 2023.
The majority of deconversion revenue is generated when one of
Jack Henry's clients agrees to be
acquired by another financial institution, resulting in the
termination of the client's contract with Jack Henry. In these circumstances, Jack Henry's recognition of deconversion revenue
is driven by factors outside Jack
Henry's control, and this revenue does not represent the
true operations of Jack Henry's
ongoing business of providing services to clients. As a result,
Jack Henry
excludes deconversion revenue from non-GAAP revenue reported
in its quarterly and annual earnings releases.
Statements made in this press release that are not historical
facts 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. 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
Jack Henry's Securities and Exchange
Commission filings, including Jack
Henry's most recent reports on Form 10-K and Form 10-Q,
particularly under the heading Risk Factors. Any forward-looking
statement made in this current report speaks only as of the date of
the current report, and Jack Henry's
expressly disclaims any obligation to publicly update or revise any
forward-looking statement, whether because of new information,
future events or otherwise.
About Jack Henry &
Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology
company that strengthens connections between financial institutions
and the people and businesses they serve. We are an S&P 500
company that prioritizes openness, collaboration, and user
centricity – offering banks and credit unions a vibrant ecosystem
of internally developed modern capabilities as well as the ability
to integrate with leading fintechs. For more than 48 years,
Jack Henry has provided technology
solutions to enable clients to innovate faster, strategically
differentiate, and successfully compete while serving the evolving
needs of their accountholders. We empower approximately 7,500
clients with people-inspired innovation, personal service, and
insight-driven solutions that help reduce the barriers to financial
health. Additional information is available at
www.jackhenry.com.
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SOURCE Jack Henry &
Associates, Inc.
