Technology
Jack Henry & Associates, Inc. Reports Second Quarter Fiscal 2025 Results
Published
1 year agoon
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Second quarter summary:
GAAP revenue increased 5.2% and GAAP operating income increased 3.4% for the fiscal three months ended December 31, 2024, compared to the prior fiscal year quarter.Non-GAAP adjusted revenue increased 6.1% and non-GAAP adjusted operating income increased 7.3% for the fiscal three months ended December 31, 2024, compared to the prior fiscal year quarter.1GAAP EPS was $1.34 per diluted share for the fiscal three months ended December 31, 2024, compared to $1.26 per diluted share in the prior fiscal year quarter.
Fiscal year-to-date summary:
GAAP revenue increased 5.2% and GAAP operating income increased 9.0% for the fiscal year-to-date period ended December 31, 2024, compared to the prior fiscal year-to-date period.Non-GAAP adjusted revenue increased 5.7% and non-GAAP adjusted operating income increased 4.2% for the fiscal year-to-date period ended December 31, 2024, compared to the prior fiscal year-to-date period.1GAAP EPS was $2.97 per diluted share for the fiscal year-to-date period ended December 31, 2024, compared to $2.65 per diluted share in the prior fiscal year-to-date period.Cash and cash equivalents were $26 million at December 31, 2024, and $27 million at December 31, 2023.Debt outstanding related to credit facilities was $150 million at December 31, 2024, and $255 million at December 31, 2023.
Full year fiscal 2025 guidance (In millions):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., Feb. 4, 2025 /PRNewswire/ — Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading financial technology provider, today announced results for fiscal second quarter ended December 31, 2024.
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.
3 Operating margin is calculated by dividing operating income by revenue.
4 See tables below on page 9 reconciling fiscal year 2025 GAAP to non-GAAP guidance.
5 See table below on page 14 reconciling net income to non-GAAP EBITDA.
According to Greg Adelson, President and CEO, “We are pleased to report solid performance in the second quarter of our fiscal year. We continued our positive sales momentum with record sales attainment in Q2 for the second consecutive year while maintaining a robust sales pipeline for future opportunities. We are seeing strong demand for our products from both new and existing clients and are making substantial progress with our technology modernization strategy. Our focus on a people-first culture, service excellence, technology innovation, and a well-executed strategy continues to differentiate us in the market.”
Operating Results
Revenue, operating expenses, operating income, and net income for the three and six months ended December 31, 2024, compared to the three and six months ended December 31, 2023, were as follows:
Revenue
(Unaudited, in thousands)
Three Months Ended
December 31,
%
Change
Six Months Ended
December 31,
%
Change
2024
2023
2024
2023
Revenue
Services and Support
$ 323,027
$ 311,992
3.5 %
$ 679,706
$ 654,197
3.9 %
Percentage of Total Revenue
56.3 %
57.2 %
57.9 %
58.6 %
Processing
250,821
233,709
7.3 %
495,123
462,872
7.0 %
Percentage of Total Revenue
43.7 %
42.8 %
42.1 %
41.4 %
REVENUE
$ 573,848
$ 545,701
5.2 %
$ 1,174,829
$ 1,117,069
5.2 %
Services and support revenue increased for the three months ended December 31, 2024, primarily driven by growth in data processing and hosting revenue of 11.8%, partially offset by a decrease in deconversion revenue of $4,813. Processing revenue increased for the three months ended December 31, 2024, primarily driven by growth in card revenue of 6.5%, transaction and digital revenue of 10.0%, and payment processing revenue of 10.1%.Services and support revenue increased for the six months ended December 31, 2024, primarily driven by growth in data processing and hosting revenue of 12.2%, partially offset by a decrease in hardware and deconversion revenues of 31.1% and 58.2%, respectively. Processing revenue increased for the six months ended December 31, 2024, primarily driven by growth in card revenue of 5.8% and transaction and digital revenue of 10.4%. Another driver was an increase in payment processing revenues.For the three months ended December 31, 2024, core segment revenue increased 4.6%, payments segment revenue increased 5.4%, complementary segment revenue increased 5.6%, and corporate and other segment revenue increased 4.7%. For the three months ended December 31, 2024, core segment non-GAAP adjusted revenue increased 5.8%, payments segment non-GAAP adjusted revenue increased 6.2%, complementary segment non-GAAP adjusted revenue increased 6.5%, and corporate and other non-GAAP adjusted segment revenue increased 4.9% (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).For the six months ended December 31, 2024, core segment revenue increased 4.8%, payments segment revenue increased 5.8%, complementary segment revenue increased 6.0%, and corporate and other segment revenue decreased 2.8%. For the six months ended December 31, 2024, core segment non-GAAP adjusted revenue increased 5.5%, payments segment non-GAAP adjusted revenue increased 6.0%, complementary segment non-GAAP adjusted revenue increased 6.8%, and corporate and other non-GAAP adjusted segment revenue decreased 2.8% (see revenue lines of segment break-out tables on pages 7 and 8 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
December 31,
%
Change
Six Months Ended
December 31,
%
Change
2024
2023
2024
2023
Cost of Revenue
$ 332,850
$ 320,979
3.7 %
$ 676,282
$ 643,981
5.0 %
Percentage of Total Revenue6
58.0 %
58.8 %
57.6 %
57.6 %
Research and Development
41,095
35,478
15.8 %
80,780
72,370
11.6 %
Percentage of Total Revenue6
7.2 %
6.5 %
6.9 %
6.5 %
Selling, General, and Administrative
76,901
70,277
9.4 %
143,489
149,051
(3.7) %
Percentage of Total Revenue6
13.4 %
12.9 %
12.2 %
13.3 %
OPERATING EXPENSES
450,846
426,734
5.7 %
900,551
865,402
4.1 %
OPERATING INCOME
$ 123,002
$ 118,967
3.4 %
$ 274,278
$ 251,667
9.0 %
Operating Margin6
21.4 %
21.8 %
23.3 %
22.5 %
Cost of revenue increased for the three months ended December 31, 2024, primarily due to higher direct costs generally consistent with increases in the related lines of revenue and higher personnel costs including benefits expenses from an increase in employee headcount in the trailing twelve months. Cost of revenue increased for the six months ended December 31, 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 and six months ended December 31, 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 increased for the three months ended December 31, 2024, primarily due to higher personnel costs including benefits expenses from an increase in employee headcount in the trailing twelve months. Selling, general, and administrative expense decreased for the six months ended December 31, 2024, primarily due to the decrease in non-recurring personnel costs when compared to the prior fiscal year period.
Net Income
(Unaudited, in thousands,
except per share data)
Three Months Ended
December 31,
%
Change
Six Months Ended
December 31,
%
Change
2024
2023
2024
2023
Income Before Income Taxes
$ 127,381
$ 120,223
6.0 %
$ 284,179
$ 253,471
12.1 %
Provision for Income Taxes
29,536
28,258
4.5 %
67,143
59,827
12.2 %
NET INCOME
$ 97,845
$ 91,965
6.4 %
$ 217,036
$ 193,644
12.1 %
Diluted earnings per share
$ 1.34
$ 1.26
6.2 %
$ 2.97
$ 2.65
12.0 %
Effective tax rates for the three months ended December 31, 2024, and 2023, were 23.2% and 23.5%, respectively. Effective tax rates for the six months ended December 31, 2024, and 2023, were 23.6% and 23.6%, respectively.
According to Mimi Carsley, CFO and Treasurer, “Our second quarter results included non-GAAP revenue growth of over 6%, led by our key revenue areas of public and private cloud and processing, which combined to grow by nearly 9%. That strong revenue growth and the leverage provided by our SaaS business model led to non-GAAP operating income growth of over 7%.”
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 and six months ended December 31, 2024, compared to the three and six months ended December 31, 2023, excluding the impacts of deconversions and the VEDIP program expense.*
(Unaudited, in thousands)
Three Months Ended
December 31,
%
Change
Six Months Ended
December 31,
%
Change
2024
2023
2024
2023
GAAP Revenue**
$ 573,848
$ 545,701
5.2 %
$ 1,174,829
$ 1,117,069
5.2 %
Adjustments:
Deconversion revenue
(69)
(4,882)
(3,766)
(9,018)
NON-GAAP ADJUSTED REVENUE**
$ 573,779
$ 540,819
6.1 %
$ 1,171,063
$ 1,108,051
5.7 %
GAAP Operating Income
$ 123,002
$ 118,967
3.4 %
$ 274,278
$ 251,667
9.0 %
Adjustments:
Operating (income) loss from deconversions
622
(3,803)
(2,873)
(7,558)
VEDIP program expense*
—
—
—
16,443
NON-GAAP ADJUSTED OPERATING INCOME
$ 123,624
$ 115,164
7.3 %
$ 271,405
$ 260,552
4.2 %
Non-GAAP Adjusted Operating Margin***
21.5 %
21.3 %
23.2 %
23.5 %
GAAP Net Income
$ 97,845
$ 91,965
6.4 %
$ 217,036
$ 193,644
12.1 %
Adjustments:
Net (income) loss from deconversions
622
(3,803)
(2,874)
(7,558)
VEDIP program expense*
—
—
—
16,443
Tax impact of adjustments****
(149)
913
690
(2,132)
NON-GAAP ADJUSTED NET INCOME
$ 98,318
$ 89,075
10.4 %
$ 214,852
$ 200,397
7.2 %
*The VEDIP program expense for the fiscal six months ended December 31, 2023, 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 December 31, 2024, and 2023 which was $69 for the current fiscal year quarter and $4,882 for the prior fiscal year quarter, results in non-GAAP adjusted services and support revenue growth of 5.2% quarter over quarter. There were no non-GAAP adjustments to processing revenue for the three months ended December 31, 2024, or 2023.
Reducing services and support revenue by deconversion revenue for the six months ended December 31, 2024, and 2023, which was $3,766 for the current fiscal year period and $9,018 for the prior fiscal year period, results in non-GAAP adjusted services and support revenue growth of 4.8% period over period. There were no non-GAAP adjustments to processing revenue for the six months ended December 31, 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 and six months ended December 31, 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 December 31, 2024
(Unaudited, in thousands)
Core
Payments
Complementary
Corporate
and Other
Total
GAAP REVENUE
$ 173,173
$ 214,836
$ 160,937
$ 24,902
$ 573,848
Non-GAAP adjustments*
20
(34)
(60)
5
(69)
NON-GAAP ADJUSTED REVENUE
173,193
214,802
160,877
24,907
573,779
GAAP COST OF REVENUE
70,739
114,738
63,384
83,989
332,850
Non-GAAP adjustments*
(88)
(53)
(99)
—
(240)
NON-GAAP ADJUSTED COST OF REVENUE
70,651
114,685
63,285
83,989
332,610
GAAP SEGMENT INCOME
$ 102,434
$ 100,098
$ 97,553
$ (59,087)
Segment Income Margin**
59.2 %
46.6 %
60.6 %
(237.3) %
NON-GAAP ADJUSTED SEGMENT INCOME
$ 102,542
$ 100,117
$ 97,592
$ (59,082)
Non-GAAP Adjusted Segment Income Margin**
59.2 %
46.6 %
60.7 %
(237.2) %
Research and Development
41,095
Selling, General, and Administrative
76,901
Non-GAAP adjustments unassigned to a segment***
(451)
NON-GAAP TOTAL ADJUSTED OPERATING EXPENSES
450,155
NON-GAAP ADJUSTED OPERATING INCOME
$ 123,624
*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 December 31, 2023
(Unaudited, in thousands)
Core
Payments
Complementary
Corporate
and Other
Total
GAAP REVENUE
$ 165,601
$ 203,839
$ 152,466
$ 23,795
$ 545,701
Non-GAAP adjustments*
(1,929)
(1,555)
(1,355)
(43)
(4,882)
NON-GAAP ADJUSTED REVENUE
163,672
202,284
151,111
23,752
540,819
GAAP COST OF REVENUE
69,370
111,623
62,825
77,161
320,979
Non-GAAP adjustments*
(321)
(51)
(249)
—
(621)
NON-GAAP ADJUSTED COST OF REVENUE
69,049
111,572
62,576
77,161
320,358
GAAP SEGMENT INCOME
$ 96,231
$ 92,216
$ 89,641
$ (53,366)
Segment Income Margin**
58.1 %
45.2 %
58.8 %
(224.3) %
NON-GAAP ADJUSTED SEGMENT INCOME
$ 94,623
$ 90,712
$ 88,535
$ (53,409)
Non-GAAP Adjusted Segment Income Margin
57.8 %
44.8 %
58.6 %
(224.9) %
Research and Development
35,478
Selling, General, and Administrative
70,277
Non-GAAP adjustments unassigned to a segment***
(458)
NON-GAAP TOTAL ADJUSTED OPERATING EXPENSES
425,655
NON-GAAP ADJUSTED OPERATING INCOME
$ 115,164
*Revenue non-GAAP adjustments for all segments were deconversion revenues. Cost of revenue non-GAAP adjustments for the Core, Payments, and Complementary 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.
Six Months Ended December 31, 2024
(Unaudited, in thousands)
Core
Payments
Complementary
Corporate
and Other
Total
GAAP REVENUE
$ 368,797
$ 426,758
$ 332,639
$ 46,635
$ 1,174,829
Non-GAAP adjustments*
(1,267)
(1,948)
(533)
(18)
(3,766)
NON-GAAP ADJUSTED REVENUE
367,530
424,810
332,106
46,617
1,171,063
GAAP COST OF REVENUE
152,159
227,757
129,352
167,014
676,282
Non-GAAP adjustments*
(125)
(71)
(159)
—
(355)
NON-GAAP ADJUSTED COST OF REVENUE
152,034
227,686
129,193
167,014
675,927
GAAP SEGMENT INCOME
$ 216,638
$ 199,001
$ 203,287
$ (120,379)
Segment Income Margin**
58.7 %
46.6 %
61.1 %
(258.1) %
NON-GAAP ADJUSTED SEGMENT INCOME
$ 215,496
$ 197,124
$ 202,913
$ (120,397)
Non-GAAP Adjusted Segment Income Margin
58.6 %
46.4 %
61.1 %
(258.3) %
Research and Development
80,780
Selling, General, and Administrative
143,489
Non-GAAP adjustments unassigned to a segment***
(538)
NON-GAAP TOTAL ADJUSTED OPERATING EXPENSES
899,658
NON-GAAP ADJUSTED OPERATING INCOME
$ 271,405
*Revenue non-GAAP adjustments for all segments were deconversion revenue. Cost of revenue non-GAAP adjustments for the Core, Payments, and Complementary 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.
Six Months Ended December 31, 2023
(Unaudited, in thousands)
Core
Payments
Complementary
Corporate
and Other
Total
GAAP REVENUE
$ 352,041
$ 403,195
$ 313,833
$ 48,000
$ 1,117,069
Non-GAAP adjustments*
(3,595)
(2,560)
(2,806)
(57)
(9,018)
NON-GAAP ADJUSTED REVENUE
348,446
400,635
311,027
47,943
1,108,051
GAAP COST OF REVENUE
145,296
220,449
123,783
154,453
643,981
Non-GAAP adjustments*
(425)
(98)
(367)
(1)
(891)
NON-GAAP ADJUSTED COST OF REVENUE
144,871
220,351
123,416
154,452
643,090
GAAP SEGMENT INCOME
$ 206,745
$ 182,746
$ 190,050
$ (106,453)
Segment Income Margin**
58.7 %
45.3 %
60.6 %
(221.8) %
NON-GAAP ADJUSTED SEGMENT INCOME
$ 203,575
$ 180,284
$ 187,611
$ (106,509)
Non-GAAP Adjusted Segment Income Margin
58.4 %
45.0 %
60.3 %
(222.2) %
Research and Development
72,370
Selling, General, and Administrative
149,051
Non-GAAP adjustments unassigned to a segment***
(17,012)
NON-GAAP TOTAL ADJUSTED OPERATING EXPENSES
847,499
NON-GAAP ADJUSTED OPERATING INCOME
$ 260,552
*Revenue non-GAAP adjustments for all segments were deconversion revenues. 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 VEDIP expenses of $16,443 and selling, general, and administrative deconversion costs of $569. The VEDIP program expense for the fiscal six months ended December 31, 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 six months ended December 31, 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 January 27, 2025.
**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 15.
Balance Sheet and Cash Flow Review (In millions)
Cash and cash equivalents were $26 million at December 31, 2024, and $27 million at December 31, 2023.Trade receivables were $283 million at December 31, 2024, compared to $271 million at December 31, 2023.The Company had $150 million of borrowings at December 31, 2024 compared to $255 million of borrowings at December 31, 2023.Deferred revenue remained consistent at $269 million at December 31, 2024, and 2023.Stockholders’ equity increased to $1,976 million at December 31, 2024, compared to $1,724 million at December 31, 2023.
*See table below for Net Cash Provided by Operating Activities and on page 14 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 14. 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)
Six Months Ended December 31,
2024
2023
Net income
$ 217,036
$ 193,644
Depreciation
22,731
23,765
Amortization
79,517
75,366
Change in deferred income taxes
(8,745)
(16,532)
Other non-cash expenses
15,535
15,693
Change in receivables
49,811
90,702
Change in deferred revenue
(119,463)
(130,529)
Change in other assets and liabilities*
(49,879)
(13,437)
NET CASH FROM OPERATING ACTIVITIES
$ 206,543
$ 238,672
*For the six months ended December 31, 2024, includes the change in prepaid cost of product and other of $(34,384), accrued expenses of $(19,450), and income taxes of $9,538. For the six months ended December 31, 2023, includes the change in prepaid cost of product and other of $(52,969), income taxes of $23,792, and the change in accrued expenses of $15,463.
The following table summarizes net cash from investing activities:
(Unaudited, in thousands)
Six Months Ended December 31,
2024
2023
Capital expenditures
(29,469)
(24,458)
Proceeds from dispositions
—
878
Purchased software
(3,528)
(2,971)
Computer software developed
(85,803)
(83,408)
Purchase of investments
(2,000)
(1,000)
Proceeds from investments
1,000
—
NET CASH FROM INVESTING ACTIVITIES
$ (119,800)
$ (110,959)
The following table summarizes net cash from financing activities:
(Unaudited, in thousands)
Six Months Ended December 31,
2024
2023
Borrowings on credit facilities
$ 165,000
$ 220,000
Repayments on credit facilities and financing leases
(165,000)
(240,000)
Purchase of treasury stock
(17,050)
(20,000)
Dividends paid
(80,193)
(75,722)
Net cash from issuance of stock and tax related to stock-based compensation
(2,131)
2,475
NET CASH FROM FINANCING ACTIVITIES
$ (99,374)
$ (113,247)
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 related to a Company voluntary separation program offered to certain eligible employees beginning in July 2023, 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 February 5, 2025, 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
December 31,
%
Change
Six Months Ended
December 31,
%
Change
2024
2023
2024
2023
REVENUE
$ 573,848
$ 545,701
5.2 %
$ 1,174,829
$ 1,117,069
5.2 %
Cost of Revenue
332,850
320,979
3.7 %
676,282
643,981
5.0 %
Research and Development
41,095
35,478
15.8 %
80,780
72,370
11.6 %
Selling, General, and Administrative
76,901
70,277
9.4 %
143,489
149,051
(3.7) %
EXPENSES
450,846
426,734
5.7 %
900,551
865,402
4.1 %
OPERATING INCOME
123,002
118,967
3.4 %
274,278
251,667
9.0 %
Interest income
7,159
5,121
39.8 %
15,506
9,866
57.2 %
Interest expense
(2,780)
(3,865)
(28.1) %
(5,605)
(8,062)
(30.5) %
Interest Income (Expense), net
4,379
1,256
248.6 %
9,901
1,804
448.8 %
INCOME BEFORE INCOME TAXES
127,381
120,223
6.0 %
284,179
253,471
12.1 %
Provision for Income Taxes
29,536
28,258
4.5 %
67,143
59,827
12.2 %
NET INCOME
$ 97,845
$ 91,965
6.4 %
$ 217,036
$ 193,644
12.1 %
Diluted net income per share
$ 1.34
$ 1.26
$ 2.97
$ 2.65
Diluted weighted average shares outstanding
73,082
72,984
73,080
72,999
Consolidated Balance Sheet Highlights (Unaudited)
(In thousands)
December 31,
%
Change
2024
2023
Cash and cash equivalents
$ 25,653
$ 26,709
(4.0) %
Receivables
283,223
270,551
4.7 %
Total assets
2,911,770
2,753,976
5.7 %
Accounts payable and accrued expenses
$ 209,926
$ 207,230
1.3 %
Current and long-term debt
150,000
255,000
(41.2) %
Deferred revenue
269,469
269,200
0.1 %
Stockholders’ equity
1,975,565
1,724,387
14.6 %
Calculation of Non-GAAP Earnings Before Income Taxes, Depreciation and Amortization (Non-GAAP EBITDA)
Three Months Ended
December 31,
%
Change
Six Months Ended
December 31,
%
Change
(In thousands)
2024
2023
2024
2023
Net income
$ 97,845
$ 91,965
$ 217,036
$ 193,644
Net interest
(4,379)
(1,256)
(9,901)
(1,804)
Taxes
29,536
28,258
67,143
59,827
Depreciation and amortization
51,754
49,896
102,248
99,131
Less: Net income before interest expense, taxes, depreciation and amortization attributable to eliminated one-time adjustments*
622
(3,802)
(2,873)
8,886
NON-GAAP EBITDA
$ 175,378
$ 165,061
6.3 %
$ 373,653
$ 359,684
3.9 %
*The fiscal second quarter 2025 and 2024 adjustments for net income before interest expense, taxes, depreciation and amortization were for deconversions. The fiscal year-to-date 2025 and 2024 adjustments were for deconversions in 2025 and deconversions and the VEDIP program expense in 2024 and were $(7,557) and $16,443, respectively. The VEDIP program expense for the fiscal six months ended December 31, 2023, was related to a Company voluntary separation program offered to certain eligible employees beginning in July 2023.
Calculation of Free Cash Flow (Non-GAAP)
Six Months Ended
December 31,
(In thousands)
2024
2023
Net cash from operating activities
$ 206,543
$ 238,672
Capitalized expenditures
(29,469)
(24,458)
Internal use software
(3,528)
(2,971)
Proceeds from sale of assets
—
878
Capitalized software
(85,803)
(83,408)
FREE CASH FLOW
$ 87,743
$ 128,713
Calculation of the Return on Average Shareholders’ Equity
December 31,
(In thousands)
2024
2023
Net income (trailing four quarters)
$ 405,208
$ 372,966
Average stockholder’s equity (period beginning and ending balances)
1,849,976
1,617,689
RETURN ON AVERAGE SHAREHOLDERS’ EQUITY
21.9 %
23.1 %
Calculation of Return on Invested Capital (ROIC) (Non-GAAP)
December 31,
(In thousands)
2024
2023
Net income (trailing four quarters)
$ 405,208
$ 372,966
Average stockholder’s equity (period beginning and ending balances)
1,849,976
1,617,689
Average current maturities of long-term debt and financing leases (period beginning and ending balances)
45,000
11
Average long-term debt (period beginning and ending balances)
157,500
265,000
Average invested capital
$ 2,052,476
$ 1,882,700
ROIC
19.7 %
19.8 %
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 second 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 January 27, 2025.
View original content to download multimedia:https://www.prnewswire.com/news-releases/jack-henry–associates-inc-reports-second-quarter-fiscal-2025-results-302368003.html
SOURCE Jack Henry & Associates, Inc.
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Technology
HOUSING WORKS CHOSEN AS 2026 BENEFICIARY OF 45TH ANNUAL FRONT RUNNERS NEW YORK LGBTQ+ PRIDE RUN™ 4M
Published
15 minutes agoon
April 22, 2026By
JUNE 27 RACE IN CENTRAL PARK WILL RAISE FUNDS FOR HOUSING WORKS’ LIFESAVING SERVICES + ADVOCACY
NEW YORK, April 22, 2026 /PRNewswire/ — Housing Works is proud to announce that it was selected as the beneficiary of the 2026 Front Runners New York LGBTQ+ Pride Run™ 4M hosted by the Front Runners New York and nonprofit New York Road Runners. The iconic 4-mile running event, which kicks off Pride Weekend in NYC, will be held on June 27, 2026, in Central Park.
Since its inception in 1982, the Pride Run has raised more than $300,000 for LGBTQ+ nonprofits as the world’s largest pride charity run. Housing Works was chosen as this year’s beneficiary in recognition of its 35-year history of providing lifesaving healthcare, housing, and justice initiatives for vulnerable New Yorkers. To support this partnership, Housing Works will have a team of over 20 board members, staff, and clients participating in the race under this year’s theme: “Hearts in Motion: United in Every Stride.”
Although the race is sold out, charity bibs are still available. Runners can apply to raise $500 in support of the 2026 Front Runners New York LGBTQ+ Pride Run™4M beneficiary through Front Runners New York and receive a non-complimentary entry to the race.
“We deeply appreciate Front Runners New York in helping us with our fundraising efforts. In the early days, our evidence-based advocacy often met political resistance, making traditional donors hesitant to support our life-saving HIV/AIDS work. Nearly 40 years into the AIDS epidemic, we continue to face budget cuts and limited capital as government administrations shift,” said Matthew Bernardo, President of Housing Works, Inc. “However, the urgency of this fight drives us to innovate. Housing Works is proof that nonprofits can create real, measurable impact for those who need it most.”
“The Pride Run has always been a showing of the strength of our community. Supporting Housing Works this year feels especially meaningful at a time when unity is most needed. Together, every step adds to our shared momentum to support the incredible, lifesaving work that Housing Works provides to our community,” said J Solle, 2026 Front Runners New York LGBTQ+ Pride Run™4M Director.
“When this race began 45 years ago, many of our members faced risks just by signing up to run openly. Today, standing with thousands of runners who sold out this event in hours, we see how far we’ve come,” said Ryan Hallett, President of Front Runners New York. “But progress requires constant action. By partnering with Housing Works, we are honoring our history of activism and ensuring that our strides in Central Park support lifesaving housing and healthcare for the most vulnerable members of our community.”
“For more than 40 years, New York Road Runners has teamed up with Front Runners New York to host the LGBTQ+ Pride Run in celebration of this incredible community,” said Rob Simmelkjaer, New York Road Runners CEO. “Now a marquee event during Pride weekend in New York City, we’re excited to unite the running community once again and help raise awareness and funds for Housing Works’s critical work.”
What: The 2026 LGBTQ+ Pride Run
When: Saturday, June 27, 2026
Race Start | 8AM
Where: Central Park
Website: https://frny.org/pride-run
For more information about Housing Works, visit housingworks.org. Follow Housing Works on Facebook and Instagram.
About Housing Works:
For more than three decades, Housing Works has been at the forefront of the movement to end AIDS and homelessness and fight for the rights and dignity of some of the most marginalized populations. Housing Works was founded in 1990 as the housing committee of ACT UP and is now a leading provider of housing and lifesaving services to low-income individuals affected by HIV/AIDS and other chronic illnesses, including LGBTQ+ youth, the transgender community, immigrants, people experiencing substance use, and formerly incarcerated New Yorkers. Housing Works’ integrated healthcare, supportive housing portfolio, wraparound services, and relentless advocacy are supported by innovative social enterprise: nine Thrift Shops throughout Manhattan and Brooklyn, its iconic Bookstore & Cafe in Soho, and most recently, New York’s first adult-use dispensary. In the year ahead, amid challenging headwinds from the federal government, Housing Works continues to expand its services and fight for what is right for those who need our help the most, bridging communities in building a more compassionate and equitable world.
About Front Runners New York:
Front Runners New York (FRNY) is New York City’s LGBTQ+ running club. The club was founded in 1979 and has grown to over 1100 members annually. FRNY’s mission is to provide encouragement and support to LGBTQ+ adults and their supporters who are interested in running and running-related activities. FRNY has created a social running community focused on health and fitness that is welcoming to all New Yorkers. FRNY offers a robust, inclusive membership experience. FRNY is a 501(c)(3) non-profit organization incorporated in the state of New York. For more information, visit frny.org.
About New York Road Runners (NYRR):
A New York City-based nonprofit, New York Road Runners’ vision is to build healthier lives and stronger communities through the transformative power of running—serving more than half a million people annually through its races, free community events, youth running initiatives, and school-based programs across the five boroughs. During its nearly 70 years, New York Road Runners has grown from a local running club to the world’s premier community running organization, producing more than 60 adult and youth races each year, including the TCS New York City Marathon. Held the first Sunday each November, the TCS New York City Marathon features more than 50,000 runners—from the world’s best professional athletes to a vast range of runners across experience levels, ages, genders, abilities, and backgrounds. To learn more, visit www.nyrr.org.
View original content to download multimedia:https://www.prnewswire.com/news-releases/housing-works-chosen-as-2026-beneficiary-of-45th-annual-front-runners-new-york-lgbtq-pride-run-4m-302749363.html
SOURCE Housing Works
Technology
City of Bradenton Launches Accela ePermitHub Digital Plan Room, Advancing Integrated Digital Plan Review
Published
15 minutes agoon
April 22, 2026By
SAN RAMON, Calif., April 22, 2026 /PRNewswire/ — The City of Bradenton, FL has launched the Accela® ePermitHub Digital Plan Room™, marking an important milestone in the City’s ongoing efforts to modernize plan review and streamline the permitting process for both staff and applicants.
This launch represents a significant shift for Bradenton, which previously relied on a plan review approach that required staff to navigate multiple systems and complete several manual steps to accomplish a single task. With Accela’s ePermitHub Digital Plan Room, the City now benefits from a fully integrated digital plan review experience, bringing plan review directly into Accela and simplifying workflows for both staff and applicants.
“After our previous experience, we were looking for a solution that truly worked with our permitting system—not alongside it,” said Dana Winters, Building Manager for the City of Bradenton. “With Accela’s ePermitHub, plan review is part of the same system our teams already use every day. It reduces extra steps, eliminates duplicate work, and makes the process much easier for staff to understand and manage.”
Under the City’s prior setup, staff often had to move between systems, log in separately, and repeat actions to keep plan review and permitting records aligned. Accela’s ePermitHub replaces that fragmented experience with a single, streamlined workflow—automating previously manual steps and improving reliability across the review process.
Bradenton serves a population of approximately 58,000 residents and is an active permitting jurisdiction across building and planning disciplines. The transition to ePermitHub was also well received by applicants, who benefit from a simpler, more consistent submission and review experience.
“This launch reflects the progress agencies are making toward more connected, end‑to‑end digital permitting,” said Maykel Martin, Vice President, Technology Product Management, Accela. “By adopting a plan review solution that is native to Accela, Bradenton is improving efficiency for staff while delivering a more consistent experience for applicants.”
The City’s project team was led by Theresa Armstrong (IT), Dana Winters (Building) and Jamie Schindewolf (Planning), who partnered closely with Accela throughout the implementation, bringing a shared focus on delivering the best outcomes for their customers and achieving a smooth, successful deployment.
For media inquiries, please contact:
Media@accela.com
About Accela®
Accela® is a leading provider of cloud-based software solutions, empowering local and state governments to drive efficiency and modernization. Accela offers both a configurable platform and out-of-the-box civic applications for core processes including permitting, licensing, and code enforcement. Accela assists agencies in streamlining workflows, reducing manual tasks, and improving service delivery. With a commitment to end-to-end support, Accela is a trusted partner to over 600 agencies and jurisdictions worldwide. For more information, please visit www.accela.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/city-of-bradenton-launches-accela-epermithub-digital-plan-room-advancing-integrated-digital-plan-review-302749920.html
SOURCE Accela
Technology
Axonic Insurance Annuities, Built for Banks, Broker-Dealers and RIAs, Now Available through WealthVest.
Published
16 minutes agoon
April 22, 2026By
Financial professionals can now secure a competitive 3-year fixed annuity rate and crediting strategies from Deutsche Bank, S&P Global, and Nasdaq through their WealthVest wholesaler and Axonic Insurance.
BOZEMAN, Mont., April 22, 2026 /PRNewswire-PRWeb/ — WealthVest, a leading wholesaler of annuities to financial professionals, has announced a strategic distribution partnership today with Axonic Insurance (AXI), a global annuity and insurance platform. WealthVest will begin offering a suite of curated, highly competitive annuity products from Axonic Insurance to their network of banks, credit unions, broker-dealers and registered investment advisers across the United States.
“We’re excited to bring the Axonic Insurance suite of solutions to the marketplace,” said Matt Hamann, National Sales Manager at WealthVest. “By combining the strength of our distribution team with AXI’s competitive offerings, we’re well positioned to drive growth and expand access across banks, broker-dealers, and RIAs. Through our education-first approach, we’re committed to supporting financial professionals with practical solutions that help their clients navigate retirement with confidence.”
Through the partnership, Axonic Insurance aims to better support financial advisors and investment adviser representatives in building a solid foundation of protection and growth for their clients’ retirement. WealthVest will align their well-regarded, client-first coaching and wholesaling model with Axonic Insurance’s highly competitive annuities to help financial professionals stay up to date on market trends and determine the best annuity to address their clients’ retirement needs.
“Partnering with WealthVest marks an important step forward in expanding AXI’s reach across the bank, broker-dealer, and RIA channels,” said Les Sutherland, Chief Distribution Officer at Axonic Insurance. “We’re excited to align with a team that shares our commitment to delivering differentiated solutions and supporting financial professionals with the tools and opportunities they need to better serve their clients.”
The suite of annuities is designed specifically for advisors and IARs to help them deliver competitive guaranteed rates of return across 2-, 3-, 5-, 7- and 10-year surrender period options; strong marketing participation; 100% principal protection and systematic income withdrawals to their clients. The annuities are available in forty-three states and the District of Columbia, and include the:
Incline MYGA: Featuring 5.25% Guaranteed for 3-Years with Initial Premiums of $100,000 or Greater1HighLine FIA: Offering 1- and 2-year point-to-point cap, participation, and fixed rate crediting strategiesHighLine FIA PLUS: Includes a 9% Premium Bonus Rider on the 5-Year2
WealthVest’s team of dedicated wholesalers and annuity case managers will serve as the main point of contact for financial advisors and IARs interested in Axonic Insurance’s annuities across 5 US regions. The team has partnered with thousands of advisors, providing annuity planning technology, retirement income planning, practice management, market and industry trends and annuity case management.
Launched in 2024, Axonic Insurance is an annuity and insurance platform delivering institutionally managed retirement products through a fully integrated model spanning product design, distribution, issuance, and servicing. Axonic Insurance is supported by Axonic Capital, an investment management firm with $8 billion in assets under management specializing in structured credit and commercial and residential real estate debt and equity. Axonic Insurance’s suite of annuities is issued by AmFirst Insurance Company (“AmFirst”), an A- (Excellent) financial strength rated company by AM Best3.
Advisors and IARs interested in learning more about Axonic Insurance and their suite of annuities can connect with their wholesaler at www.wealthvest.com/axonic-insurance or call the WealthVest Sales Desk at 1-833-299-8750.
1 Rate shown is effective March 27, 2026 and subject to change. Rate only applies to the Incline MYGA 3-year plan with initial premiums of $100,000 or greater, issued by AmFirst Insurance Company (“AmFirst”) and offered by Axonic Insurance Services LLC (“Axonic”). Additional rates available.
2 At the time of issuance, the Premium Bonus is credited to your Account Value, providing immediate access to additional funds to allocate into the various crediting strategies. The Premium Bonus is calculated as a percentage of the initial premium and becomes a permanent component of the annuity’s Accumulation Value. All Premium Bonuses are subject to a Vesting Schedule, under which the Contract Value and the Cash Surrender Value increase annually as the bonus amount vests over time. Please refer to the HighLine FIA Rate Sheet for Premium Bonus amounts and Contract details.
3 AM Best affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “A-” (Excellent) of AmFirst Insurance Company on August 29, 2025.
ABOUT WEALTHVEST
WealthVest is a leading wholesaler of fixed, fixed-indexed, and registered index-linked annuities to financial professionals. We’re a partner to thousands of advisors by providing annuity planning technology, retirement income planning, practice management, market and industry trends and annuity case management. Their team of dedicated wholesalers and annuity case managers helps advisors provide the best annuity outcomes. Follow us on Facebook and LinkedIn or visit wealthvest.com.
ABOUT AXONIC INSURANCE
Axonic Insurance (AXI) is a fast-growing annuity and insurance platform delivering institutionally managed retirement products through a fully integrated model spanning product design, distribution, issuance, and servicing. AXI combines modern insurance capabilities with disciplined asset management and rigorous risk oversight to drive scalable, sustainable growth. AXI’s suite of annuities includes Multi-Year Guaranteed Annuities (MYGAs) and Fixed Indexed Annuities (FIAs), distributed through IMOs, Banks, Broker-Dealers, and Registered Investment Advisers (RIAs), while strengthening profitability through operational efficiency, pricing discipline, and balance sheet resilience. AXI’s strategy prioritizes durability — balancing growth, capital strength, and earnings to support long-term value creation and financial stability.
ABOUT AXONIC CAPITAL
Founded in 2010, Axonic Capital is a New York-based alternative investment manager with $8 billion in assets under management. The firm has deep expertise in structured credit, commercial and residential real estate debt and equity, and systematic fixed income. Axonic’s flexible capital base includes private limited partnerships, separate accounts, insurance company mandates, and publicly listed fund structures. For additional information, visit axoniccap.com.
ABOUT S&P DOW JONES INDICES
Since 1896, S&P DJI have provided innovative index solutions backed by robust methodologies and strong governance. Today, S&P Dow Jones Indices is the world’s largest provider of financial market indices, offering iconic solutions and unparalleled expertise across asset classes and geographies. With more exchange partnerships and more assets invested in products based on our indices than any other index provider, S&P DJI is a critical link in capital markets and the global financial ecosystem.
ABOUT NASDAQ GLOBAL INDEXES
Nasdaq Global Indexes has been creating innovative, market-leading, transparent indexes since 1971. Today, our index offering spans geographies and asset classes and includes diverse families. We continuously offer new opportunities for financial product sponsors across a wide spectrum of investable products and for asset managers to measure risk and performance. Nasdaq also provides exchange listing, custom index, and design solutions to financial organizations worldwide.
ABOUT DEUTSCHE BANK
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network. Deutsche Bank’s FIG Structuring & Solutions business structures and arranges bespoke capital and financing transactions for its global FIG client base.
Media Contact
Jackson Bolstad, WealthVest, 1 406-272-3759, jbolstad@wealthvest.com, www.wealthvest.com
Les Sutherland, Axonic Insurance, lsutherland@axonicinsurance.com, https://axonicinsurance.com/
View original content:https://www.prweb.com/releases/axonic-insurance-annuities-built-for-banks-broker-dealers-and-rias-now-available-through-wealthvest-302750101.html
SOURCE WealthVest
HOUSING WORKS CHOSEN AS 2026 BENEFICIARY OF 45TH ANNUAL FRONT RUNNERS NEW YORK LGBTQ+ PRIDE RUN™ 4M
City of Bradenton Launches Accela ePermitHub Digital Plan Room, Advancing Integrated Digital Plan Review
Axonic Insurance Annuities, Built for Banks, Broker-Dealers and RIAs, Now Available through WealthVest.
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