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JKHY
FY2026 Q2
상향
Jack Henry & Associates, Inc. 실적 발표
Buzzberg 분석
Record core wins with 22 competitive wins, including 4 over $1B assets
Jack Henry reported a strong Q2 FY2026 with record quarterly revenue, significant margin expansion, and raised its full-year guidance. Management expressed high confidence, citing a robust competitive win environment and growing sales pipelines. Record Q2 non-GAAP revenue of $611M (+6.7% YoY), with operating margin expanding 355 bps to 25.1%.
Buzzberg 분석 Record core wins with 22 competitive wins, including 4 over $1B assets Jack Henry reported a strong Q2 FY2026 with record quarterly revenue, significant margin expansion, and raised its full-year guidance. Management expressed high confidence, citing a robust competitive win environment and growing sales pipelines. Record Q2 non-GAAP revenue of $611M (+6.7% YoY), with operating margin expanding 355 bps to 25.1%. 전체 분석 보기분석 접기
Jack Henry reported a strong Q2 FY2026 with record quarterly revenue, significant margin expansion, and raised its full-year guidance. Management expressed high confidence, citing a robust competitive win environment and growing sales pipelines. Record Q2 non-GAAP revenue of $611M (+6.7% YoY), with operating margin expanding 355 bps to 25.1%.
- 22 competitive core wins in Q2, with 15 'trifecta' wins (core, digital, card) and 4 banks with over $1B in assets, signaling strong cross-selling.
- Raised full-year guidance: non-GAAP revenue growth to 6.4-7.1%, GAAP EPS to $6.61-6.72, and margin expansion to 50-75 bps.
- Identified a tailwind from a competitor's core consolidation, which has 'positively impacted' sales pipelines and is expected to accelerate the already strong competitive win rate.
매출$0.6193B-4% 전분기 대비
주당순이익(EPS)$1.72-13% 전분기 대비
매출총이익률43.33%보고값
영업이익률25.7%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
Cross-sell
Trifecta attach rate jumps to 68% of new core wins
Competitive
Competitor consolidation expected to accelerate core sales pipeline
핵심 내용 3개 더 보기
Market Share
Core market share growth outpacing market contraction
Product Launch
Tap to Local rolling out to clients in waves
AI
AI seen as misunderstood for software economics
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $0.6193B | -4% 전분기 대비 |
| 주당순이익(EPS) | $1.72 | -13% 전분기 대비 |
| 매출총이익률 | 43.33% | 보고값 |
| 영업이익률 | 25.7% | 보고값 |
| 잉여현금흐름 | $0.1314B | +18% 전분기 대비 |
| 자본지출 | $0.0212B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2026 | $6.61–$6.72 | $6.67 | 상향 |
| 잉여현금흐름 | FY2026 | 90%–100% | 95% | 유지 |
| 영업이익률 | FY2026 | 0.5%–0.75% | 0.625% | 상향 |
| 매출 | FY2026 | 6.4%–7.1% | 6.75% | 상향 |
| 매출DECONVERSION | FY2026 | $28M | $28M | 상향 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management expressed strong optimism about competitive wins, pipeline growth, and innovation momentum, while acknowledging near-term headwinds like benefits cost normalization.
경영진의 AI 분석
Management discussed AI's role in improving efficiency and reducing headcount growth, and noted that AI is embedded in new platform products. They argued that AI's impact on software economics is misunderstood in their industry due to the complexity of core systems, and that their public cloud/API-first platform gives them an advantage in leveraging AI for faster innovation.
투자 및 생산능력
Management did not explicitly discuss capital expenditure or infrastructure investment amounts, but noted that R&D spending remains around 14-15% of revenue and that they are able to fund strategic initiatives without increasing workforce. They expect higher infrastructure costs in the second half of the fiscal year.
아래에 언급된 기업 2개 모두 표시
기업발표 이후 수익률
경쟁사
STRIPE
XYZ
+52.6%
경쟁사
Greg Adelson
Jack Henry's new Tap to Local solution, a merchant acquiring tool, is being rolled out at a rapid pace, with 400 clients already live and plans for 100-150 more per month, representing a fast, new revenue stream. — The rapid rollout and market reception of this differentiated SMB solution could allow Jack Henry's bank and credit union clients to win back deposits from fintech competitors like Stripe and Square.
근거
“First of all, stripe and square are taking deposits away from our institutions, and they're not getting them back because then they're lending to them or they're doing other things.”
외부 신호
공급망 알파 · 5발표 이후 수익률
Jack Henry's core sales team delivered 22 competitive core wins in Q2, of which 4 were institutions with over $1 billion in assets, and 15 included core, digital, and card solutions.
근거
“Our core sales team delivered an outstanding quarter with 22 competitive core wins. Of the 22 wins, four were financial institutions with over $1 billion in assets, And 15 included core digital banking and card solutions.”
Jack Henry noted that the recent core consolidation announcement by a competitor has not yet fully impacted Q2 sales, but has significantly increased its sales pipelines, suggesting a potential surge in competitive wins in the future.
근거
“It's worth noting that given the timing of their core consolidation announcement, our sales success in Q2 was minimally impacted by the news. It had much more to do with our ability to continue demonstrating innovation and service differen…”
Jack Henry's new Tap to Local solution, a merchant acquiring tool, is being rolled out at a rapid pace, with 400 clients already live and plans for 100-150 more per month, representing a fast, new revenue stream.
근거
“We took 300 clients live in November and December and just rolled out another 100 clients last week. We will continue to add 100 to 150 per month and expect to have some nice data points to share on the May earnings call.”
Jack Henry has an existing business relationship with over 80% of U.S. financial institutions, giving it a significant advantage in retaining business when those institutions merge with non-Jack Henry clients.
근거
“Additionally, we have relationships with more than 80% of the financial institutions in the U.S. across our core, complimentary, and payment segments. So in most consolidation events, we are already doing business with the acquiring instit…”
Jack Henry's cloud revenue grew 8% to 33% of total revenue, and the company is seeing strong uptake in private cloud contracts, particularly among institutions with over $1 billion in assets.
근거
“Cloud revenue increased 8% in the quarter, This reoccurring revenue contributor is 33% of our total revenue.”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 2개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.