jkhy-20260331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026


OR
☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
			For the transition period from ______________ to ________________

Commission file number 0-14112

JACK HENRY & ASSOCIATES, INC.

(Exact name of registrant as specified in its charter)


Delaware						43-1128385
(State or Other Jurisdiction of Incorporation)						(I.R.S. Employer Identification No.)

663 Highway 60, P.O. Box 807, Monett, MO 65708

(Address of Principal Executive Offices)

(Zip Code)

417-235-6652

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock ($0.01 par value)	JKHY	Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” ”accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐

Non-accelerated filer	☐	Smaller reporting company	☐

Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes ☐ No ☒

As of April 24, 2026, the Registrant had 71,050,780 shares of Common Stock outstanding ($0.01 par value).

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		Page Reference

PART I	FINANCIAL INFORMATION

ITEM 1.	Condensed Consolidated Balance Sheets as of March 31, 2026, and June 30, 2025 (Unaudited)	4

	Condensed Consolidated Statements of Income for the Three and Nine Months Ended March 31, 2026 and 2025 (Unaudited)	5

	Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended March 31, 2026 and 2025 (Unaudited)	6

	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2026 and 2025 (Unaudited)	7

	Notes to Condensed Consolidated Financial Statements (Unaudited)	8

ITEM 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	21

ITEM 3.	Quantitative and Qualitative Disclosures about Market Risk	31

ITEM 4.	Controls and Procedures	31

PART II	OTHER INFORMATION	31

ITEM 1.	Legal Proceedings	31



ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	32

ITEM 5.	Other Information	32

ITEM 6.	Exhibits	33

	Signatures	34

In this report, all references to “Jack Henry,” the “Company,” “we,” “us,” and “our,” refer to Jack Henry & Associates, Inc., and its wholly owned subsidiaries.

FORWARD LOOKING STATEMENTS

Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, 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 (the “Exchange Act”). Forward-looking statements may appear throughout this report, including without limitation, in Management's Discussion and Analysis of Financial Condition and Results of Operations. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “seek,” “anticipate,” “estimate,” “future,” “intend,” “plan,” “strategy,” “predict,” “likely,” “should,” “will,” “would,” “could,” “can,” “may,” and similar expressions. Forward-looking statements are based only on management’s current beliefs, expectations and assumptions regarding the future of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. 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 this Quarterly Report on Form 10-Q, those discussed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, in particular, those included in Item 1A, “Risk Factors” of such report, and those discussed in other documents we file with the Securities and Exchange Commission (“SEC”). Any forward-looking statement made in this report speaks only as of the date of this report, 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.

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

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JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In Thousands, Except Share and Per Share Data)

	March 31, 2026		June 30, 2025

ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	20,573	$	101,953
Receivables, net	282,463		317,977
Income tax receivable	3,532		—
Prepaid expenses and other	201,321		180,151
Deferred costs	81,218		75,777
Assets held for sale	5,732		5,606
Total current assets	594,839		681,464
PROPERTY AND EQUIPMENT, net	214,005		220,964
OTHER ASSETS:
Non-current deferred costs	218,507		207,861
Computer software, net of amortization	651,709		617,029
Other non-current assets	480,758		443,624
Customer relationships, net of amortization	44,453		48,440
Other intangible assets, net of amortization	18,546		19,791
Goodwill	827,740		804,797
Total other assets	2,241,713		2,141,542
Total assets	$	3,050,557	$	3,043,970
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	19,923	$	28,186
Accrued expenses	192,210		207,434

Accrued income taxes	—		9,679

Deferred revenues	128,999		290,485
Total current liabilities	341,132		535,784
LONG-TERM LIABILITIES:
Non-current deferred revenues	79,743		72,889
Deferred income tax liability	340,373		240,026
Debt	90,000		—
Other long-term liabilities	64,498		64,439
Total long-term liabilities	574,614		377,354
Total liabilities	915,746		913,138
STOCKHOLDERS' EQUITY
Preferred stock - $1 par value; 500,000 shares authorized, none issued	—		—
Common stock - $0.01 par value; 250,000,000 shares authorized; 104,569,731 shares issued at March 31, 2026; 104,415,989 shares issued at June 30, 2025	1,046		1,044
Additional paid-in capital	676,517		652,218
Retained earnings	3,636,886		3,372,794
Less treasury stock at cost 33,360,668 shares at March 31, 2026; 31,579,598 shares at June 30, 2025	(2,179,638)		(1,895,224)
Total stockholders' equity	2,134,811		2,130,832
Total liabilities and equity	$	3,050,557	$	3,043,970

See notes to condensed consolidated financial statements.

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JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In Thousands, Except Per Share Data)

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2026		2025		2026		2025

REVENUE	$	636,245	$	585,087	$	1,900,316	$	1,759,916

EXPENSES
Cost of Revenue	363,922		340,586		1,063,476		1,016,868
Research and Development	45,110		39,411		126,615		120,192
Selling, General, and Administrative	72,166		66,350		211,965		209,839

Total Expenses	481,198		446,347		1,402,056		1,346,899

OPERATING INCOME	155,047		138,740		498,260		413,017

INTEREST INCOME
Interest Income	4,869		5,899		18,194		21,406
Interest Expense	(1,375)		(2,731)		(3,402)		(8,336)
Total Interest Income	3,494		3,168		14,792		13,070

INCOME BEFORE INCOME TAXES	158,541		141,908		513,052		426,087

PROVISION FOR INCOME TAXES	35,647		30,800		121,503		97,943

NET INCOME	$	122,894	$	111,108	$	391,549	$	328,144

Basic earnings per share	$	1.71	$	1.53	$	5.42	$	4.50
Basic weighted average shares outstanding	71,767		72,851		72,262		72,893

Diluted earnings per share	$	1.71	$	1.52	$	5.41	$	4.49
Diluted weighted average shares outstanding	71,978		73,013		72,433		73,058

See notes to condensed consolidated financial statements.

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JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited)
(In Thousands, Except Share and Per Share Data)

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
PREFERRED SHARES:	—		—		—		—

COMMON SHARES:
Shares, beginning of period	104,541,919		104,370,424		104,415,989		104,245,089
Shares issued for equity-based payment arrangements	1,778		1,052		87,469		90,267
Shares issued for Employee Stock Purchase Plan	26,034		23,333		66,273		59,453
Shares, end of period	104,569,731		104,394,809		104,569,731		104,394,809

COMMON STOCK - PAR VALUE $0.01 PER SHARE:
Balance, beginning of period	$	1,045	$	1,044	$	1,044	$	1,042
Shares issued for equity-based payment arrangements	—		—		1		1
Shares issued for Employee Stock Purchase Plan	1		—		1		1
Balance, end of period	$	1,046	$	1,044	$	1,046	$	1,044

ADDITIONAL PAID-IN CAPITAL:
Balance, beginning of period	$	665,004	$	633,211	$	652,218	$	619,805
Shares issued for equity-based payment arrangements	—		—		(1)		(1)
Tax withholding related to share-based compensation	(144)		(319)		(7,131)		(7,660)
Shares issued for Employee Stock Purchase Plan	3,461		3,477		8,480		8,686
Stock-based compensation expense	8,196		6,873		22,951		22,412
Balance, end of period	$	676,517	$	643,242	$	676,517	$	643,242

RETAINED EARNINGS:
Balance, beginning of period	$	3,557,470	$	3,218,533	$	3,372,794	$	3,081,690

Net income	122,894		111,108		391,549		328,144
Dividends	(43,478)		(42,271)		(127,457)		(122,464)
Balance, end of period	$	3,636,886	$	3,287,370	$	3,636,886	$	3,287,370

TREASURY STOCK:
Balance, beginning of period	$	(2,020,461)	$	(1,877,223)	$	(1,895,224)	$	(1,860,173)
Purchase of treasury shares	(159,177)		(18,002)		(284,414)		(35,052)
Balance, end of period	$	(2,179,638)	$	(1,895,225)	$	(2,179,638)	$	(1,895,225)

TOTAL STOCKHOLDERS' EQUITY	$	2,134,811	$	2,036,431	$	2,134,811	$	2,036,431

Dividends declared per share	$	0.61	$	0.58	$	1.77	$	1.68

See notes to condensed consolidated financial statements.

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JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In Thousands)

	Nine Months Ended
	March 31,
	2026		2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$	391,549	$	328,144
Adjustments to reconcile net income from operations to net cash from operating activities:
Depreciation	31,238		33,125
Amortization	127,462		120,136
Change in deferred income taxes	100,347		(12,765)
Expense for stock-based compensation	22,951		22,412
Gain on disposal of assets	(1,439)		(1)
Changes in operating assets and liabilities:
Change in receivables	37,379		50,871
Change in prepaid expenses, deferred costs and other	(61,680)		(42,989)
Change in accounts payable	(6,370)		(9,541)
Change in accrued expenses	(19,137)		(23,436)
Change in income taxes	(8,383)		15,540
Change in deferred revenues	(154,631)		(167,104)
Net cash from operating activities	459,286		314,392

CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for acquisitions	(42,390)		—
Capital expenditures	(46,616)		(41,186)

Proceeds from sale of assets	24,572		—

Purchased software	(2,998)		(3,833)
Computer software developed	(140,003)		(130,298)
Proceeds from investments	1,000		1,000
Purchase of investments	(13,710)		(2,000)
Net cash from investing activities	(220,145)		(176,317)

CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on credit facilities	360,000		255,000
Repayments on credit facilities	(270,000)		(235,000)
Purchase of treasury stock	(284,414)		(35,052)
Dividends paid	(127,457)		(122,464)
Proceeds from stock issued for equity-based payment arrangements	1		2
Tax withholding payments related to share-based compensation	(7,131)		(7,661)
Proceeds from sale of common stock	8,480		8,686
Net cash from financing activities	(320,521)		(136,489)
NET CHANGE IN CASH AND CASH EQUIVALENTS	$	(81,380)	$	1,586
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	$	101,953	$	38,284
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	20,573	$	39,870

See notes to condensed consolidated financial statements.

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JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(In Thousands, Except Per Share Amounts)

NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of the Company

Jack Henry & Associates, Inc. and subsidiaries (“Jack Henry,” or the “Company”) is a well-rounded financial technology company. Jack Henry was founded in 1976 as a provider of core information processing solutions for banks. Today, the Company’s extensive array of products and services includes processing transactions, automating business processes, and managing information for approximately 7,400 banks, credit unions, and diverse corporate entities.

Consolidation

The condensed consolidated financial statements include the accounts of Jack Henry and all of its subsidiaries, which are wholly owned, and all intercompany accounts and transactions have been eliminated.

Comprehensive Income

Comprehensive income for the fiscal three and nine months ended March 31, 2026, and 2025, equals the Company’s net income.

Allowance for Credit Losses

The Company monitors trade and other receivable balances and contract assets and estimates the allowance for lifetime expected credit losses. Estimates of expected credit losses are based on historical collection experience and other factors, including those related to current market conditions and events.

The following table summarizes allowance for credit losses activity for the fiscal three and nine months ended March 31, 2026, and 2025:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2026		2025		2026		2025
Allowance for credit losses - beginning balance	$	6,489	$	6,872	$	6,659	$	7,477

Current provision for expected credit losses	480		680		1,440		1,640
Write-offs charged against allowance	(576)		(992)		(1,706)		(2,486)

Other	—		—		—		(71)
Allowance for credit losses - ending balance	$	6,393	$	6,560	$	6,393	$	6,560

Property and Equipment

Property and equipment is recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets. Accumulated depreciation at March 31, 2026, totaled $469,243 and at June 30, 2025, totaled $499,928.

During the fiscal three months ended March 31, 2026, the Company received an offer to purchase one of its facilities and management has committed to a plan to sell the facility. At March 31, 2026, the facility included assets with a carrying value of approximately $5,732. The Company expects to record a gain on the sale of this asset. At June 30, 2025, held for sale assets included two aircraft and related equipment with a carrying value of approximately $5,606. The sales of these assets were completed during the fiscal nine months ended March 31, 2026, which resulted in a gain of $6,829. Total assets held for sale by the Company at March 31, 2026, and June 30, 2025, were $5,732 and $5,606, respectively, and were included in assets held for sale on the Company's condensed consolidated balance sheets and were not included in property and equipment, net.

Intangible Assets

Intangible assets consist of goodwill, customer relationships, computer software, and trade names acquired in business acquisitions in addition to internally developed computer software. The amounts are amortized, with the exception of those intangible assets with an indefinite life (such as goodwill), over an estimated economic benefit period, generally 3 to 20 years. Accumulated amortization of intangible assets totaled $1,528,284 and $1,436,825 at March 31, 2026, and June 30, 2025, respectively.

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Purchase of Investments

At March 31, 2026, and June 30, 2025, the Company had $33,460 and $25,750 in non-current investments, respectively. These investments were recorded at cost and are included within other non-current assets on the Company's condensed consolidated balance sheets. There have been no events or changes in circumstances that would indicate an impairment and no price changes resulting from observing a similar or identical investment. An impairment and/or an observable price change would be an adjustment to recorded cost. Fair values will not be estimated unless there are identified events or changes in circumstances that may have a significant effect on the fair values of the investments.

Common Stock

The Board of Directors has authorized the Company to repurchase shares of its common stock. Under this authorization, the Company may finance its share repurchases with available cash reserves or borrowings on its existing credit facilities. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. At March 31, 2026, there were 33,361 shares in treasury stock and the Company had the remaining authority to repurchase up to 1,630 additional shares. The total cost of treasury stock at March 31, 2026, was $2,179,638. During the first nine months of fiscal 2026, the Company repurchased 1,781 shares. At June 30, 2025, there were 31,580 shares in treasury stock and the Company had the remaining authority to repurchase up to 3,411 additional shares. The total cost of treasury stock at June 30, 2025, was $1,895,224. During the first nine months of fiscal 2025, the Company repurchased 207 shares.

Income Taxes

Deferred tax liabilities and assets are recognized for the tax effects of differences between the financial statement and tax basis of assets and liabilities. A valuation allowance would be established to reduce deferred tax assets if it is more likely than not that a deferred tax asset will not be realized.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based upon the technical merits of the position. The tax benefit recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Also, interest and penalties expenses are recognized on the full amount of unrecognized benefits for uncertain tax positions. The Company's policy is to include interest and penalties related to unrecognized tax benefits in income tax expense.

Interim Financial Statements

The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the SEC and in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to interim condensed consolidated financial statements, and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes, which are included in its Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended June 30, 2025.

In the opinion of the management of the Company, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary (consisting of normal recurring adjustments) to state fairly in all material respects the financial position of the Company as of March 31, 2026, the results of its operations for the fiscal three and nine months ended March 31, 2026 and 2025, changes in stockholders' equity for the fiscal three and nine months ended March 31, 2026 and 2025, and its cash flows for the fiscal nine months ended March 31, 2026 and 2025. The condensed consolidated balance sheet at June 30, 2025, was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements.

The results of operations for the fiscal three and nine months ended March 31, 2026, are not necessarily indicative of the results to be expected for the entire fiscal year.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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Significant Accounting Policies

The accounting policies followed by the Company are set forth in Note 1 to the Company's consolidated financial statements included in its Form 10-K for the fiscal year ended June 30, 2025. For the fiscal three and nine months ended March 31, 2026, there have been no new or material changes to the significant accounting policies discussed in the Company’s Form 10-K for the fiscal year ended June 30, 2025, that are of significance, or potential significance, to the Company.

NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS

Recently Adopted Accounting Guidance

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures about a public entity's reportable segments through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. The ASU was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and should be applied retrospectively to all prior periods presented in the financial statements. The Company adopted this ASU effective for the fiscal year ended June 30, 2025, with retrospective application of the additional segment information for the fiscal years ended June 30, 2024, and 2023. Additional information regarding the Company's reportable segments, including the application of this ASU for the fiscal three and nine months ended March 31, 2026, and 2025, is included in Note 11 to the condensed consolidated financial statements.

Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The ASU requires additional disclosure related to rate reconciliation, income taxes paid, and other disclosures to improve the effectiveness of income tax disclosures. The ASU is effective for annual periods beginning after December 15, 2024, and applied on a prospective basis. Early adoption and retrospective application is permitted. The Company will adopt this ASU for the fiscal year ending June 30, 2026.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires more detailed disclosures of certain categories of expenses such as employee compensation, depreciation, and intangible asset amortization that are components of existing expense captions presented on the face of the consolidated statements of income. The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which amends guidance related to the accounting for internal-use software development costs. The amendments are intended to modernize the recognition and capitalization framework to reflect current software development practices, including iterative and agile methodologies, by removing references to "development stages". It also clarifies the criteria for capitalization, which begins when both of the following occur: (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

NOTE 3. REVENUE AND DEFERRED COSTS

Revenue Recognition

The Company generates revenue from data processing and hosting, transaction processing, software licensing and related services, professional services, and hardware sales.

SEC Form 10-Q filed by Jack Henry & Associates Inc.