secwatch.observer — SEC 8-K summary
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Issuer:     JACK HENRY & ASSOCIATES INC (JKHY)
CIK:        0000779152
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0000779152-23-000039
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Jack Henry changes deconversion revenue guidance approach; sets FY2024 baseline at $16M
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- New baseline estimate for FY2024 deconversion revenue is $16.0M, the lowest recent annual historical result.
- Deconversion revenue excluded from non-GAAP revenue; company will pre-release actual quarterly deconversion revenue on Form 8-K ~10 days before each earnings release.
- Full-year guidance adjusted each quarter to reflect year-to-date actuals plus remaining quarterly estimates.
- Initial FY2024 GAAP EPS guidance negatively impacted by ~$0.01 per $1M deconversion revenue, but expected to moderate as year progresses.
- Management cites unpredictability of financial institution consolidation; change aims to focus guidance on continuing operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/779152/000077915223000039/0000779152-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/779152/000077915223000039/jkhy-20230803.htm
  HTML page:      https://secwatch.observer/filing/0000779152-23-000039

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