Jack Henry & Associates Inc. Q1 FY2025 results: revenue $601 million, up 5.2% on the year

Jack Henry & Associates Inc. (JKHY) reported revenue of $601 million for Q1 FY2025, the quarter ended 30 September 2024, up 5.2% on the same quarter a year earlier. Net income was $119 million, up 17.2% on the year, and diluted earnings per share $1.63. The figures are the company's own, from the 10-Q it filed with the SEC on 8 November 2024.

Revenue$601 millionup 5.2%

Net income$119 millionup 17.2%

Diluted EPS$1.63

QuarterQ1 FY2025ended 30 September 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2025	Q4 FY2024	Q1 FY2024	Change on the year
Revenue	601	560	571	+5.2%
Cost of revenue	343	327	323	+6.3%
Gross profit	258	233	248	+3.7%
Gross margin	42.9%	41.5%	43.5%
Research and development	39.7	39.9	36.9	+7.6%
Selling, general and administrative	66.6	67.1	78.8	-15.5%
Operating income	151	126	133	+14.0%
Operating margin	25.2%	22.4%	23.2%
Interest expense	n/a	n/a	4.2	n/a
Pre-tax income	157	130	133	+17.7%
Income tax	37.6	29.3	31.6	+19.1%
Effective tax rate	24.0%	22.5%	23.7%
Net income	119	101	102	+17.2%
Net margin	19.8%	18.1%	17.8%
Diluted EPS	$1.63	$1.39	$1.39	+17.3%

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2025	Q4 FY2024	Q1 FY2024	Change on the year
Operating cash flow	117	232	157	-25.6%
Capital expenditure	12.8	23.8	7.6	+68.2%
Free cash flow	104	208	150	-30.4%
Free cash flow margin	17.3%	37.2%	26.2%
Share-based compensation	6.7	6.5	7.1	-6.2%
Buybacks	0.0	8.1	20.0	n/a
Dividends paid	40.1	40.1	37.9	+5.9%
Dividend per share	$0.55	n/a	$0.52	+5.8%
Diluted shares, weighted	73m	73m	73m	+0.1%
Shares outstanding at period end	73m	73m	73m	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2025	Q4 FY2024	Q1 FY2024	Change on the year
Total assets	2,929	2,924	2,734	+7.1%
Cash and equivalents	43.2	38.3	31.5	+37.3%
Receivables	307	333	289	+6.2%
Goodwill	805	805	805	+0.0%
Long-term debt	50.0	60.0	n/a	n/a
Long-term debt including finance leases	n/a	n/a	245	n/a
Operating lease liabilities	48.9	51.1	38.0	+28.8%
Shareholders' equity	1,925	1,842	1,660	+16.0%

Quarterly results, the last 12 quarters

	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *
Revenue	571	546	539	560	601	574	585	615	645	619	636	644
Cost of revenue	323	321	328	327	343	333	341	344	349	351	364	370
Gross profit	248	225	210	233	258	241	245	271	296	268	272	274
Gross margin	43%	41%	39%	42%	43%	42%	42%	44%	46%	43%	43%	43%
R&D	36.9	35.5	36.0	39.9	39.7	41.1	39.4	42.6	39.3	42.2	45.1	49.8
SG&A	78.8	70.3	62.2	67.1	66.6	76.9	66.3	73.2	72.8	67.0	72.2	87.2
Operating income	133	119	112	126	151	123	139	156	184	159	155	137
Operating margin	23%	22%	21%	22%	25%	21%	24%	25%	29%	26%	24%	21%
Interest expense	4.2	3.9	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	133	120	114	130	157	127	142	160	190	164	159	140
Tax rate	24%	24%	24%	22%	24%	23%	22%	20%	24%	24%	22%	20%
Net income	102	92.0	87.1	101	119	97.8	111	128	144	125	123	111
Net margin	18%	17%	16%	18%	20%	17%	19%	21%	22%	20%	19%	17%
Diluted EPS	$1.39	$1.26	$1.19	$1.39	$1.63	$1.34	$1.52	$1.75	$1.97	$1.72	$1.71	$1.58
Operating cash flow	157	81.5	97.6	232	117	89.6	108	327	121	153	186	303
Capital expenditure	7.6	16.8	9.9	23.8	12.8	16.7	11.7	12.2	8.9	21.2	16.5	20.5
Free cash flow	150	64.7	87.7	208	104	73.0	96.1	315	112	131	170	282
Buybacks	20.0	0.0	0.0	8.1	0.0	17.1	18.0	-0.0	62.0	63.2	159	164
Dividends paid	37.9	37.9	40.1	40.1	40.1	40.1	42.3	42.2	42.1	41.8	43.5	42.9
Shares outstanding	73m	73m	73m	73m	73m	73m	73m	73m	72m	72m	71m	70m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2024, filed 8 November 2024, accession 0000779152-24-000111: the filing on EDGAR. All of Jack Henry & Associates Inc.'s filings: EDGAR company page.

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