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Jack Henry & Associates, Inc. Reports First Quarter Fiscal 2025 Results

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First quarter summary:

GAAP revenue increased 5.2% and GAAP operating income increased 14.0% for the fiscal three months ended September 30, 2024, compared to the prior fiscal year quarter.Non-GAAP adjusted revenue increased 5.3% and non-GAAP adjusted operating income increased 1.6% for the fiscal three months ended September 30, 2024, compared to the prior fiscal year quarter.1GAAP EPS was $1.63 per diluted share for the fiscal three months ended September 30, 2024, compared to $1.39 per diluted share in the prior fiscal year quarter.Cash and cash equivalents were $43 million at September 30, 2024, and $31 million at September 30, 2023.Debt outstanding related to credit facilities was $140 million at September 30, 2024, and $245 million at September 30, 2023.

Full year fiscal 2025 guidance:2

Current

GAAP

Low

High

Revenue

$2,369

$2,391

Operating margin3

23.0 %

23.2 %

EPS

$5.78

$5.87

Non-GAAP4

Adjusted revenue

$2,353

$2,375

Adjusted operating margin

22.7 %

22.8 %

 

 

MONETT, Mo., Nov. 5, 2024 /PRNewswire/ — Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading financial technology provider, today announced results for fiscal first quarter ended September 30, 2024.

According to Greg Adelson, President and CEO, “We are pleased to report another quarter of solid financial performance, which was slightly better than the outlook provided in August for FY Q1. Our sales team maintained positive momentum in the quarter with a new record sales attainment for Q1 and increased our sales pipeline to an all-time high. We had an outstanding Jack Henry Connect conference last month in Phoenix, where we strengthened relationships with clients and prospects and demonstrated our execution over the past year. We are energized and remain focused on our key differentiators: culture, service, and innovation.”

1 See tables below on page 4 reconciling non-GAAP financial measures to GAAP.
2 The full fiscal year guidance assumes no acquisitions or dispositions are made during fiscal year 2025.
3Operating margin is calculated by dividing operating income by revenue.
4 See tables below on page 7 reconciling fiscal year 2025 GAAP to non-GAAP guidance.
5See table below on page 12 reconciling net income to non-GAAP EBITDA.

Operating Results

Revenue, operating expenses, operating income, and net income for the three months ended September 30, 2024, compared to the three months ended September 30, 2023, were as follows:

Revenue

(Unaudited, In Thousands)

Three Months Ended

September 30,

%
Change

2024

2023

Revenue

Services and Support

$     356,679

$      342,205

4.2 %

Percentage of Total Revenue

59.3 %

59.9 %

Processing

244,303

229,163

6.6 %

Percentage of Total Revenue

40.7 %

40.1 %

REVENUE

$     600,982

$        571,368

5.2 %

 

Services and support revenue increased for the three months ended September 30, 2024, primarily driven by growth in data processing and hosting revenue of 12.6%, partially offset by a decrease in license and hardware revenue of 35.9%. Processing revenue increased for the three months ended September 30, 2024, primarily driven by growth in card revenue of 5.1% and transaction and digital revenue of 10.9%. Other drivers were increases in payment processing and remote capture and ACH revenues.For the three months ended September 30, 2024, core segment revenue increased 4.9%, payments segment revenue increased 6.3%, complementary segment revenue increased 6.4%, and corporate and other segment revenue decreased 10.2%. For the three months ended September 30, 2024, core segment non-GAAP adjusted revenue increased 5.2%, payments segment non-GAAP adjusted revenue increased 5.9%, complementary segment non-GAAP adjusted revenue increased 7.1%, and corporate and other non-GAAP adjusted segment revenue decreased 10.3% (see revenue lines of segment break-out tables on pages 5 and 6 below for a reconciliation of segment non-GAAP adjusted revenue to GAAP segment revenue).

 

Operating Expenses and Operating Income

(Unaudited, In Thousands)

Three Months Ended

September 30,

%
Change

2024

2023

Cost of Revenue

$     343,432

$      323,002

6.3 %

Percentage of Total Revenue6

57.1 %

56.5 %

Research and Development

39,686

36,892

7.6 %

Percentage of Total Revenue6

6.6 %

6.5 %

Selling, General, and Administrative

66,588

78,774

(15.5) %

Percentage of Total Revenue6

11.1 %

13.8 %

OPERATING EXPENSES

449,706

438,668

2.5 %

OPERATING INCOME

$       151,276

$        132,700

14.0 %

Operating Margin6

25.2 %

23.2 %

 

Cost of revenue increased for the three months ended September 30, 2024, primarily due to higher direct costs generally consistent with increases in the related lines of revenue, higher personnel costs including benefits expenses from an increase in employee headcount in the trailing twelve months, higher internal licenses and fees from increased deployments and prices, and a rise in amortization from capital development projects placed into service in the trailing twelve months.Research and development expense increased for the three months ended September 30, 2024, primarily due to higher personnel costs (net of capitalization) including benefits expenses from an increase in employee headcount in the trailing twelve months.Selling, general, and administrative expense decreased for the three months ended September 30, 2024, primarily due to the decrease in non-recurring costs when compared to the prior fiscal year quarter.

Net Income

(Unaudited, In Thousands,

Except Per Share Data)

Three Months Ended

September 30,

%
Change

2024

2023

Income Before Income Taxes

$         156,798

$          133,248

17.7 %

Provision for Income Taxes

37,607

31,569

19.1 %

NET INCOME

$            119,191

$            101,679

17.2 %

Diluted earnings per share

$                 1.63

$                 1.39

17.1 %

 

Effective tax rates for the three months ended September 30, 2024, and 2023, were 24.0% and 23.7%, respectively.

 

According to Mimi Carsley, CFO and Treasurer, “For the first quarter of the fiscal year, revenue and operating margins were aligned with our plan and expectations and we continue to expect stronger performance in the second half of our fiscal year. Our private cloud revenue grew over 11% and processing services continued to drive strong revenue growth at over 6%, each contributing to our overall revenue expansion of over 5% and operating income increase of 2% on a non-GAAP basis.”

6Operating margin is calculated by dividing operating income by revenue. Operating margin plus operating expense components as a percentage of total revenue may not equal 100% due to rounding.

Impact of Non-GAAP Adjustments

The tables below show our revenue, operating income, and net income for the three months ended September 30, 2024, compared to the three months ended September 30, 2023, excluding the impacts of deconversions and the VEDIP program expense.*

(Unaudited, In Thousands)

Three Months Ended
September 30,

%
Change

2024

2023

GAAP Revenue**

$       600,982

$          571,368

5.2 %

Adjustments:

Deconversion revenue

(3,697)

(4,136)

NON-GAAP ADJUSTED REVENUE**

$        597,285

$         567,232

5.3 %

GAAP Operating Income

$          151,276

$          132,700

14.0 %

Adjustments:

Operating income from deconversions

(3,495)

(3,755)

VEDIP program expense*

16,443

NON-GAAP ADJUSTED OPERATING INCOME

$          147,781

$         145,388

1.6 %

Non-GAAP Adjusted Operating Margin***

24.7 %

25.6 %

GAAP Net Income

$            119,191

$           101,679

17.2 %

Adjustments:

Net income from deconversions

(3,495)

(3,755)

VEDIP program expense*

16,443

Tax impact of adjustments****

839

(3,045)

NON-GAAP ADJUSTED NET INCOME

$         116,535

$            111,322

4.7 %

*The VEDIP program expense for the fiscal three months ended September 30, 2024, was related to a Company voluntary separation program offered to certain eligible employees beginning in July 2023.

**GAAP revenue is comprised of services and support and processing revenues (see page 2). Reducing services and support revenue by deconversion revenue for the three months ended September 30, 2024, and 2023 which was $3,697 for the current fiscal year quarter and $4,136 for the prior fiscal year quarter, results in non-GAAP adjusted services and support revenue growth of 4.4% quarter over quarter. There were no non-GAAP adjustments to processing revenue for the three months ended September 30, 2024, or 2023.

***Non-GAAP adjusted operating margin is calculated by dividing non-GAAP adjusted operating income by non-GAAP adjusted revenue.

****The tax impact of adjustments is calculated using a tax rate of 24% for the three months ended September 30, 2024, and 2023. The tax rate for non-GAAP adjustment items takes a broad look at our recurring tax adjustments and applies them to non-GAAP revenue that does not have its own specific tax impacts.

The tables below show the segment break-out of revenue and cost of revenue for each period presented, as adjusted for the items above, and include a reconciliation to non-GAAP adjusted operating income presented above.

Three Months Ended September 30, 2024

(Unaudited, In Thousands)

Core

Payments

Complementary

Corporate
and Other

Total

GAAP REVENUE

$ 195,624

$    211,923

$                  171,702

$       21,733

$ 600,982

Non-GAAP adjustments*

(1,287)

(1,914)

(473)

(23)

(3,697)

NON-GAAP ADJUSTED REVENUE

194,337

210,009

171,229

21,710

597,285

GAAP COST OF REVENUE

81,420

113,020

65,967

83,025

343,432

Non-GAAP adjustments*

(37)

(18)

(60)

(115)

NON-GAAP ADJUSTED COST OF REVENUE

81,383

113,002

65,907

83,025

343,317

GAAP SEGMENT INCOME

$   114,204

$   98,903

$                105,735

$    (61,292)

Segment Income Margin**

58.4 %

46.7 %

61.6 %

(282.0) %

NON-GAAP ADJUSTED SEGMENT INCOME

$   112,954

$    97,007

$                105,322

$     (61,315)

Non-GAAP Adjusted Segment Income Margin**

58.1 %

46.2 %

61.5 %

(282.4) %

Research and Development

39,686

Selling, General, and Administrative

66,588

Non-GAAP adjustments unassigned to a segment***

(87)

NON-GAAP TOTAL ADJUSTED OPERATING EXPENSES

449,504

NON-GAAP ADJUSTED OPERATING INCOME

$    147,781

*Revenue non-GAAP adjustments for all segments were deconversion revenue. Cost of revenue non-GAAP adjustments for all segments were deconversion costs.

**Segment income margin is calculated by dividing segment income by revenue for each segment. Non-GAAP adjusted segment income margin is calculated by dividing non-GAAP adjusted segment income by non-GAAP adjusted revenue for each segment.

***Non-GAAP adjustments unassigned to a segment were selling, general, and administrative deconversion costs.

 

Three Months Ended September 30, 2023

(Unaudited, In Thousands)

Core

Payments

Complementary

Corporate
and Other

Total

GAAP REVENUE

$  186,439

$  199,358

$                 161,366

$     24,205

$    571,368

Non-GAAP adjustments*

(1,665)

(1,006)

(1,451)

(14)

(4,136)

NON-GAAP ADJUSTED REVENUE

184,774

198,352

159,915

24,191

567,232

GAAP COST OF REVENUE

75,927

108,826

60,957

77,292

323,002

Non-GAAP adjustments*

(103)

(47)

(119)

(1)

(270)

NON-GAAP ADJUSTED COST OF REVENUE

75,824

108,779

60,838

77,291

322,732

GAAP SEGMENT INCOME

$     110,512

$    90,532

$               100,409

$   (53,087)

Segment Income Margin

59.3 %

45.4 %

62.2 %

(219.3) %

NON-GAAP ADJUSTED SEGMENT INCOME

$  108,950

$    89,573

$                 99,077

$    (53,100)

Non-GAAP Adjusted Segment Income Margin

59.0 %

45.2 %

62.0 %

(219.5) %

Research and Development

36,892

Selling, General, and Administrative

78,774

Non-GAAP adjustments unassigned to a segment** ***

(16,554)

NON-GAAP TOTAL ADJUSTED OPERATING EXPENSES

421,844

NON-GAAP ADJUSTED OPERATING INCOME

$    145,388

*Revenue non-GAAP adjustments for all segments were deconversion revenues. Cost of revenue non-GAAP adjustments for all segments were deconversion costs.

**Non-GAAP adjustments unassigned to a segment were selling, general, and administrative deconversion costs of $(111) and VEDIP program expense of $(16,443).

***The VEDIP program expense for the fiscal three months ended September 30, 2023, was related to a Company voluntary separation program offered to certain eligible employees beginning in July 2023.

The table below shows our GAAP to non-GAAP guidance for the fiscal year ending June 30, 2025. Fiscal year 2025 non-GAAP guidance excludes the impacts of deconversion revenue and related operating expenses and assumes no acquisitions or dispositions are made during the fiscal year.

GAAP to Non-GAAP GUIDANCE (In Millions, except per share data)

Annual FY25

Low

High

GAAP REVENUE

$  2,369

$   2,391

     Growth

6.9 %

7.9 %

Deconversions*

$         16

$         16

NON-GAAP ADJUSTED REVENUE**

$  2,353

$  2,375

     Non-GAAP Adjusted Growth

7.0 %

8.0 %

GAAP OPERATING EXPENSES

$   1,823

$   1,836

     Growth

5.6 %

6.4 %

Deconversion costs*

$          3

$          3

NON-GAAP ADJUSTED OPERATING EXPENSES**

$   1,820

$   1,833

     Non-GAAP Adjusted Growth

6.7 %

7.4 %

GAAP OPERATING INCOME

$     546

$     555

     Growth

11.6 %

13.3 %

GAAP OPERATING MARGIN

23.0 %

23.2 %

NON-GAAP ADJUSTED OPERATING INCOME**

$     533

$     542

     Non-GAAP Adjusted Growth

8.2 %

9.9 %

NON-GAAP ADJUSTED OPERATING MARGIN

22.7 %

22.8 %

GAAP EPS***

$     5.78

$     5.87

     Growth

10.6 %

12.3 %

Non-GAAP EPS***

$    5.65

$    5.74

Growth

7.3 %

9.0 %

*Deconversion revenue and related operating expenses are based on actual results for the three months ended September 30, 2024, and estimates for the remainder of fiscal year 2025, based on the lowest actual recent historical results. See the Company’s Form 8-K filed with the Securities and Exchange Commission on October 28, 2024.

**GAAP to Non-GAAP revenue, operating expenses, and operating income may not foot due to rounding.

***The GAAP to Non-GAAP EPS reconciliation table is below on page 13.

Balance Sheet and Cash Flow Review

 

Cash and cash equivalents were $43 million at September 30, 2024, and $31 million at September 30, 2023.Trade receivables were $307 million at September 30, 2024, compared to $289 million at September 30, 2023.The Company had $140 million of borrowings at September 30, 2024 compared to $245 million of borrowings at September 30, 2023.Deferred revenue decreased to $320 million at September 30, 2024, compared to $333 million at September 30, 2023.Stockholders’ equity increased to $1,925 million at September 30, 2024, compared to $1,660 million at September 30, 2023.

 

*See table below for Net Cash Provided by Operating Activities and on page 12 for Return on Average Shareholders’ Equity. Tables reconciling the non-GAAP measures Free Cash Flow and Return on Invested Capital (ROIC) to GAAP measures are also on page 12. See the Use of Non-GAAP Financial Information section below for the definitions of Free Cash Flow and ROIC.

The following table summarizes net cash from operating activities:

(Unaudited, In Thousands)

Three Months Ended September 30,

2024

2023

Net income

$                          119,191

$                         101,679

Depreciation

11,273

12,052

Amortization

39,221

37,183

Change in deferred income taxes

(4,087)

(10,178)

Other non-cash expenses

6,678

7,037

Change in receivables

26,373

72,519

Change in deferred revenue

(69,358)

(66,322)

Change in other assets and liabilities*

(12,395)

3,169

NET CASH FROM OPERATING ACTIVITIES

$                       116,896

$                         157,139

*For the year ended September 30, 2024, includes the change in income taxes of $38,576, the change in accrued expenses of $(23,067), and the change in prepaid expenses, prepaid cost of product and other of $(18,788). For the year ended September 30, 2023, includes the change in income taxes of $39,044, the change in prepaid expenses, prepaid cost of product and other of $(17,356), and the change in accrued expenses of $(17,285).

The following table summarizes net cash from investing activities:

(Unaudited, In Thousands)

Three Months Ended September 30,

2024

2023

Capital expenditures

(12,801)

(7,612)

Proceeds from dispositions

852

Purchased software

(2,676)

(2,280)

Computer software developed

(42,259)

(41,486)

Purchase of investments

(2,000)

Proceeds from investments

1,000

NET CASH FROM INVESTING ACTIVITIES

$                      (58,736)

$                       (50,526)

The following table summarizes net cash from financing activities:

(Unaudited, In Thousands)

Three Months Ended September 30,

2024

2023

Borrowings on credit facilities

$                      75,000

$                     135,000

Repayments on credit facilities and financing leases

(85,000)

(165,000)

Purchase of treasury stock

(20,000)

Dividends paid

(40,104)

(37,863)

Net cash from issuance of stock and tax related to stock-based compensation

(3,128)

474

NET CASH FROM FINANCING ACTIVITIES

$                    (53,232)

$                     (87,389)

Use of Non-GAAP Financial Information

Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting in the United States. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, we have provided certain non-GAAP financial measures, including adjusted revenue, adjusted operating income, adjusted segment income, adjusted cost of revenue, adjusted operating expenses, adjusted operating margin, adjusted segment income margin, non-GAAP earnings before interest, taxes, depreciation, and amortization (non-GAAP EBITDA), free cash flow, return on invested capital (ROIC), non-GAAP adjusted net income, and non-GAAP earnings per share (EPS).

We believe non-GAAP financial measures help investors better understand the underlying fundamentals and true operations of our business. Adjusted revenue, adjusted operating income, adjusted operating margin, adjusted  segment income, adjusted segment income margin, adjusted cost of revenue, adjusted operating expenses, adjusted net income, and non-GAAP EPS eliminate one-time deconversion revenue and associated costs and the effects of the VEDIP program expense, which management believes are not indicative of the Company’s operating performance. Such adjustments give investors further insight into our performance. Non-GAAP EBITDA is defined as net income attributable to the Company before the effect of interest expense, taxes, depreciation, and amortization, adjusted for net income before the effect of interest expense, taxes, depreciation, and amortization attributable to eliminated one-time deconversions and the VEDIP program expense. Free cash flow is defined as net cash from operating activities, less capitalized expenditures, internal use software, and capitalized software, plus proceeds from the sale of assets. ROIC is defined as net income divided by average invested capital, which is the average of beginning and ending long-term debt and stockholders’ equity for a given period. Management believes that non-GAAP EBITDA is an important measure of the Company’s overall operating performance and excludes certain costs and other transactions that management deems one time or non-operational in nature; free cash flow is useful to measure the funds generated in a given period that are available for debt service requirements and strategic capital decisions; and ROIC is a measure of the Company’s allocation efficiency and effectiveness of its invested capital. For these reasons, management also uses these non-GAAP financial measures in its assessment and management of the Company’s performance.

Non-GAAP financial measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. Non-GAAP financial measures have no standardized meaning prescribed by GAAP and therefore, are unlikely to be comparable with calculations of similar measures for other companies.

Any non-GAAP financial measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP measures. Reconciliations of the non-GAAP financial measures to related GAAP measures are included.

Quarterly Conference Call

The Company will hold a conference call on November 6, 2024, at 7:45 a.m. Central Time, and investors are invited to listen at www.jackhenry.com. A webcast replay will be available approximately one hour after the event at ir.jackhenry.com/corporate-events-and-presentations and will remain available for one year.

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.

Statements made in this news 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 the Company’s Securities and Exchange Commission filings, including the Company’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 news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.

 

Condensed Consolidated Statements of Income (Unaudited)

(In Thousands, except per share data)

Three Months Ended
September 30,

%
Change

2024

2023

REVENUE

$         600,982

$            571,368

5.2 %

Cost of Revenue

343,432

323,002

6.3 %

Research and Development

39,686

36,892

7.6 %

Selling, General, and Administrative

66,588

78,774

(15.5) %

EXPENSES

449,706

438,668

2.5 %

OPERATING INCOME

151,276

132,700

14.0 %

Interest income

8,347

4,745

75.9 %

Interest expense

(2,825)

(4,197)

(32.7) %

Interest Income (Expense), net

5,522

548

907.7 %

INCOME BEFORE INCOME TAXES

156,798

133,248

17.7 %

Provision for Income Taxes

37,607

31,569

19.1 %

NET INCOME

$             119,191

$             101,679

17.2 %

Diluted net income per share

$                 1.63

$                   1.39

Diluted weighted average shares outstanding

73,078

73,014

Consolidated Balance Sheet Highlights (Unaudited)

(In Thousands)

September 30,

%
Change

2024

2023

Cash and cash equivalents

$             43,212

$              31,467

37.3 %

Receivables

306,660

288,733

6.2 %

Total assets

2,928,511

2,734,223

7.1 %

Accounts payable and accrued expenses

$            231,713

$          208,909

10.9 %

Current and long-term debt

140,000

245,000

(42.9) %

Deferred revenue

319,574

333,407

(4.1) %

Stockholders’ equity

1,925,028

1,659,948

16.0 %

 

Calculation of Non-GAAP Earnings Before Income Taxes, Depreciation and Amortization (Non-GAAP EBITDA)

Three Months Ended
September 30,

%
Change

(in thousands)

2024

2023

Net income

$             119,191

$             101,679

Net interest

(5,522)

(548)

Taxes

37,607

31,569

Depreciation and amortization

50,494

49,235

Less: Net income before interest expense, taxes, depreciation and

amortization attributable to eliminated one-time adjustments*

(3,495)

12,688

NON-GAAP EBITDA

$          198,275

$           194,623

1.9 %

*The fiscal first quarter 2025 adjustments for net income before interest expense, taxes, depreciation and amortization were for deconversions. The fiscal first quarter 2024 adjustments were for deconversions and the VEDIP program expense and were $(3,755) and $16,443, respectively.

 

Calculation of Free Cash Flow (Non-GAAP)

Three Months Ended
September 30,

(in thousands)

2024

2023

Net cash from operating activities

$           116,896

$             157,139

Capitalized expenditures

(12,801)

(7,612)

Internal use software

(2,676)

(2,280)

Proceeds from sale of assets

852

Capitalized software

(42,259)

(41,486)

FREE CASH FLOW

$            59,160

$           106,613

Calculation of the Return on Average Shareholders’ Equity

September 30,

(in thousands)

2024

2023

Net income (trailing four quarters)

$         399,328

$            361,776

Average stockholder’s equity (period beginning and ending balances)

1,792,488

1,560,543

RETURN ON AVERAGE SHAREHOLDERS’ EQUITY

22.3 %

23.2 %

Calculation of Return on Invested Capital (ROIC) (Non-GAAP)

September 30,

(in thousands)

2024

2023

Net income (trailing four quarters)

$         399,328

$            361,776

Average stockholder’s equity (period beginning and ending balances)

1,792,488

1,560,543

Average current maturities of long-term debt and financing leases

(period beginning and ending balances)

45,000

21

Average long-term debt (period beginning and ending balances)

147,500

245,000

Average invested capital

$      1,984,988

$        1,805,564

ROIC

20.1 %

20.0 %

 

GAAP to Non-GAAP EPS Reconciliation Table

FY25 Guidance

GAAP EPS

$5.78-$5.87

Excluded Activity, net of Tax:

Deconversion*

$0.13

Non-GAAP EPS

$5.65-$5.74

*We are not aware of any other discreet adjustments at this time. Deconversion revenue and related operating expenses are based on actual results for fiscal first quarter 2025 and estimates for the remainder of fiscal year 2025, based on the lowest actual recent historical results. See the Company’s Form 8-K filed with the Securities and Exchange Commission on October 28, 2024.

 

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SOURCE Jack Henry & Associates, Inc.

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Opus Technologies Named Among India’s Top 100 (Mid-Size) Best Workplaces for Women 2024 by Great Place To Work® India

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PUNE, India, Nov. 6, 2024 /PRNewswire/ — Opus Technologies has been recognized by Great Place To Work® India among – India’s Top 100 Best Workplaces for Women 2024

Opus Technologies has achieved a significant milestone, earning recognition as India’s Top 100 Best Workplaces™ for Women 2024 by Great Place to Work© India. This prestigious accolade underscores our commitment to creating an environment where women can thrive professionally and make substantial contributions.

At Opus, we recognize the immense value women bring to our organization. Our female employees consistently demonstrate leadership, drive innovation, and excel across all levels of the company. This recognition celebrates their achievements and reaffirms our dedication to fostering a workplace that empowers women in tech.

As a global authority on workplace culture, Great Place To Work has been studying employee experience and people practices across organizations for over three decades. Every year, more than 100 million employees from over 150 countries worldwide take the Great Place To Work for assessment, benchmarking, and planning of actions to strengthen their workplace culture.

In this year for India, based on a rigorous evaluation methodology, 200 organizations among India’s Best Workplaces for Women 2024 have been recognized. These organizations, among other practices, particularly excel both in people practices that they have crafted for their employees and proactively acting on the feedback to create a High Trust Culture. The report and the complete list (in alphabetical order) of India’s Best Workplaces for   2024 can be viewed on our website.

“In today’s dynamic business landscape, we’ve long recognized that when people feel truly supported and valued, businesses don’t just survive—they thrive. This rings especially true for women in the workplace. By fostering environments that prioritize flexibility, equity, and inclusion, we empower all employees to bring their full potential to work every day.

However, we find ourselves at a critical juncture. Despite years of progress, women’s representation in the workforce has plateaued at 26%, with a mere 122% in executive or C-level positions. More concerning is the declining workplace sentiment among women, signaling a growing disconnect in their work environments.

Our research unequivocally shows that when women experience a sense of belonging, they are 6 times more likely to consider their workplace great. This stark statistic underscores the immense potential waiting to be unlocked in organizations that prioritize inclusivity and equality.

As we launch India’s Best Workplaces™ for Women 2024 report, we celebrate the companies leading the charge in creating truly inclusive environments. These organizations understand that championing women isn’t just about meeting quotas—it’s about cultivating a culture where everyone can thrive.

To all the winners of India’s Best Workplaces for Women: congratulations on setting the gold standard. Your commitment to fostering environments where women feel valued, heard, and empowered serves as an inspiration and a call to action for us all. Together, let’s continue to build workplaces where every individual, regardless of gender, can reach their full potential.”

–          Balbir Singh, CEO, Great Place To Work®️ India

Praveen TM, CEO of Opus Technologies, stated, “Being recognized as one of the Best Workplaces™ for Women by Great Place to Work© India is a significant milestone for us. This honor highlights our commitment to building a workplace where every woman feels valued and empowered to lead. We firmly believe that our diverse workforce is key to our innovation and growth, and we will continue to champion equality and inclusivity in all aspects of our organization.”

Speaking about the achievement, Babitha P, Chief People Officer at Opus Technologies, said, “This recognition reflects our ongoing commitment to diversity, equity, and inclusion. At Opus, we are dedicated to creating an environment where everyone, particularly women, can thrive and feel empowered. Embracing diverse perspectives is at the heart of our culture and a key driver of our success.”

Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index™ Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification™ and highly competitive Best Workplaces Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Opus Technologies:

With nearly three decades of experience, Opus Technologies is a global provider of outcome-driven payment strategies. Opus combines its deep technology proficiency with unmatched domain expertise in payments and fintech to deliver unparalleled quality and value in its work.

Visit https://opustechglobal.com/ to learn more. Follow Opus Technologies on LinkedIn.

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Vasant Masala enters a new era with Anil Kapoor as brand new, unveiling new logo and identity

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AHMEDABAD, India , Nov. 6, 2024 /PRNewswire/ —  Vasant Masala, a prominent name in the spices industry for over 54 years, is proud to unveil Bollywood icon Anil Kapoor as its new brand ambassador, alongside their new positioning: ‘Pyaar Toh Hona Hi Tha.’ The tagline encapsulates how Vasant Masala enhances the flavours of every dish, creating meals that not only satisfy taste buds but also strengthen the bonds of love within families, making every moment around the table one filled with warmth and togetherness.

An exciting collaboration will feature Anil Kapoor alongside his brother Sanjay Kapoor for the first time on-screen with Vasant Masala’s TVC. Their sibling bond exemplifies the essence of Vasant Masala’s new message: love isn’t just a sentiment, but an experience that unites us, especially in the context of family life and cherished traditions.

As part of this exciting evolution, Vasant Masala is also unveiling a refreshed brand identity, complete with a modernised logo. The revamped identity represents Vasant Masala’s dedication to connecting with the tastes and preferences of its customers.

Elaborating on Anil Kapoor’s association as Vasant Masala’s brand ambassadorship, Chandrakant Bhandari, CMD of Vasant Masala, stated, “For decades, delivering purity to Indian households has been the cornerstone of Vasant Masala. With ‘Pyaar Toh Hona Hi Tha,’ we are not only enriching this foundation but also strengthening the bond that goes beyond taste to touch the heart. Anil Kapoor’s association perfectly blends tradition, modernity, and universal appeal, resonating across generations. This campaign celebrates our legacy while reaching a wider audience, bringing Vasant Masala into more homes and fueling our growth for years to come.”

Anil Kapoor, expressing his excitement about this partnership, shared, “I am thrilled to be part of this new chapter in Vasant Masala’s journey. This brand is known for its uncompromising quality and I have complete faith in its commitment to delivering the best. This story is about more than just promoting a product; it’s a celebration of love, family, and the bonds we hold dear. What’s more, this will be the first time I’ll share the screen with my brother Sanjay, which makes this even more exciting for me. I can’t wait to see how this heartfelt campaign connects with people.”

About Vasant Masala:

As a leading brand in the Indian spices market, Vasant Masala remains dedicated to providing high-quality products while deepening its emotional connection with its consumers. Vasant Masala has been delighting millions of families across Gujarat, Rajasthan, Madhya Pradesh, and beyond for the past 54 years. With its diverse range of products such as blended spices, Hing, basic spices, whole spices, and powdered spices, Vasant Masala has gained recognition on a global scale. Exported to five continents, Vasant Masala is known for its unparalleled quality and widespread popularity. This trusted brand has consistently provided consumers with the finest spices, making it the top choice of housewives for the last five decades due to its unmatched flavor and health benefits.

For Trade, Marketing & Other enquiries:
E-mail: info@vasantmasala.com
Call: +91 94265 06390
Know more about the brand at www.vasantmasala.com.

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Sinopec Hosts Forum Session at 7th China International Import Expo

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US$40.9 billion in purchasing contracts signed with 38 partners, bringing the total of seven sessions of CIIE to US$285 billion

SHANGHAI, Nov. 5, 2024 /PRNewswire/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”) has hosted a forum titled “Building Global Energy Partnerships” and a signing ceremony at the 7th China International Import Expo (CIIE 2024) in Shanghai. The exhibition, running from November 5 to 10, is focused on the global energy transition and fostering an open, green, and low-carbon ecosystem.

At the signing ceremony, Sinopec signed purchasing contracts with 38 partners from 18 countries, which totaled US$40.9 billion, including 27 products from 10 major categories, including crude oil, chemicals, equipment, materials, consumer goods and more. Since the first CIIE in 2018, Sinopec has signed orders exceeding a total of US$285 billion in seven sessions.

Ma Yongsheng, chairman of Sinopec, remarked in a keynote speech at the forum that the global energy supply as well as demand pattern and governance system are in need of real changes, and the transformational development of energy and chemical industry is already in a new stage.

“In the face of the great momentum of development, Sinopec unswervingly commits to promoting high-quality, intelligent, and green development leveraging advanced technologies,” said Ma. “We also understand deeply that the energy and chemical industries can only achieve sustainable development through cooperation. Sinopec has always adhered to open cooperation and achieve mutual wins with all our partners.”

Sinopec aims to enhance collaboration on oil and gas resources, working with various stakeholders to establish a more stable industry alliance. The company is also committed to expanding its green energy initiatives to further its low-carbon transformation goals. Additionally, Sinopec seeks to foster technology partnerships to unite innovative efforts, aiming to create a harmonious balance between humanity and nature, address climate challenges effectively, and build a cleaner, more sustainable world for future generations.

At CIIE 2024, Sinopec also signed cooperation and procurement agreements with a number of companies at the event. It has signed a framework agreement with TotalEnergies on long-term LNG supply, under which TotalEnergies will supply 2 million tons of LNG per year to Sinopec from 2028, for a total of 15 years. The partnership will enable both parties to further explore opportunities across the whole industry chain and promote global energy transformation.

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SOURCE SINOPEC

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