Business
Jack Henry & Associates, Inc. Reports First Quarter Fiscal 2024 Results
First quarter summary: GAAP revenue increased 8.0% and GAAP operating income decreased 5.7% for the fiscal three months ended September 30, 2023, compared to
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":" \n\nFirst quarter summary:\nGAAP revenue increased 8.0% and GAAP operating income decreased 5.7% for the fiscal three months ended September 30, 2023, compared to the prior fiscal year quarter.Non-GAAP adjusted revenue increased 7.7% and non-GAAP adjusted operating income increased 13.0% for the fiscal three months ended September 30, 2023, compared to the prior fiscal year quarter.1GAAP EPS was $1.39 per diluted share for the fiscal three months ended September 30, 2023, compared to $1.46 in the prior fiscal year quarter.Cash was $31 million at September 30, 2023, and $32 million at September 30, 2022.Debt related to credit facilities was $245 million at September 30, 2023, and $245 million at September 30, 2022.Full year fiscal 2024 guidance:2\nCurrent\nPrevious\nGAAP\nLow\nHigh\nLow\nHigh\nRevenue updated\n$2,211\n$2,232\n$2,208\n$2,229\nOperating margin updated\n21.8 %\n21.9 %\n21.6 %\n21.7 %\nEPS updated\n$4.98\n$5.04\n$4.92\n$4.99\nNon-GAAP3\nAdjusted revenue updated\n$2,193\n$2,214\n$2,190\n$2,210\nAdjusted operating margin updated\n22.2 %\n22.3 %\n22.1 %\n22.2 %\n \n\n \nMONETT, Mo., Nov. 7, 2023 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading financial technology provider, today announced results for the fiscal first quarter ended September 30, 2023.\nAccording to David Foss, Board Chair and CEO, \"We are very pleased to report overall strong financial performance for the first quarter of our new fiscal year. Our sales teams continue to see strong demand for our innovative financial technology solutions, including the Banno Business™ and AI-powered Financial Crimes Defender™ cloud-native solutions that we introduced in the first quarter. Our sales pipeline is the highest it's ever been, and we recently hosted a record number of clients and prospects at our annual Jack Henry Connect conference in Indianapolis. We are proud to help community and regional financial institutions across the U.S. innovate, compete, and strengthen connections with their accountholders through delivering a broad range of modern technology and exceptional service.\"\n1 See tables below on page 3 reconciling non-GAAP financial measures to GAAP.\n2 The full year guidance assumes no acquisitions are made during fiscal year 2024.\n3 See tables below on page 5 reconciling fiscal year 2024 GAAP to non-GAAP guidance.\n4 See tab...