Jack Henry reports Q1 deconversion revenue of $4.1M; guides FY24 to $16M

JACK HENRY & ASSOCIATES INC

Q1 fiscal 2024 deconversion revenue was $4.1 million.
Full-year fiscal 2024 deconversion revenue estimated at $16 million.
Deconversion revenue arises when a customer is acquired, resulting in contract termination.
Company excludes deconversion revenue from non-GAAP revenue as it is not operational.
Detailed guidance approach referenced in Aug 3, 2023 8-K.

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