On this page of StockholderLetter.com we present the latest annual shareholder letter from JACK HENRY & ASSOCIATES INC — ticker symbol JKHY. Reading current and past JKHY letters to shareholders can bring important insights into the investment thesis.
2 0 2 5 Annual Report
who we are A well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve.
CONTENTS Financial Highlights . 4 Shareholders Letter . 5 9 One . Financials . 19 31 32 Market for Registrant s Common Equity . Performance Graph . Management s Discussion and Analysis . . 43 44 Quantitative and Qualitative Disclosures About Market Risk . Financial Statements and Supplementary Data . . 74 2025 Annual Report | C O N T E N T S | 3 Board of Directors and Executive Officers . . President and CEO Greg Adelson is joined by Pat Hall and Brenda Henry (widows of Jack Henry's co-founders) as well as associates to celebrate the unveiling of remodeled workspaces in Monett, Missouri. 33
Financial Highlights (In millions except per share data) revenue diluted earnings net income per share $2,500 $2,375 $456 $367 $382 $8 $500 $2,300 $300 $2,216 $7 $6.24 $400 $5.02 $6 $5.23 $5 $4 $200 $3 $2,100 $2,078 $2 $100 $1 $0 $1,900 2023 2024 2025 2023 return on shareholders equity 2024 2025 $0 2023 2024 2025 earnings before interest, taxes, depreciation, and amortization* return on invested capital* (EBITDA) 24.5% 22.1% 22.9% 35% 35% 30% 30% 25% 21.7% 19.7% 22.1% 4 | $671 $689 $800 $700 $600 15% 15% $500 10% 10% $400 5% 5% $300 0% 0% 2024 $773 20% 20% 2023 25% $900 2025 C O N T E N T S | 2025 Annual Report 2023 2024 2025 $200 2023 2024 2025 * For non-GAAP reconciliation, see page 72.
SHAREHOLDERS LETTER Fellow Shareholders, As we reflect on fiscal year 2025, we are extremely proud of our more than 7,200 associates and what we ve accomplished together. Despite some macroeconomic uncertainty and challenges, we moved Jack Henry forward, delivering significant value to our key stakeholders as one unified organization. We remained focused on cultivating a peoplefirst culture where associates feel they belong. We delivered needs-based solutions backed by excellent service empowering our bank and credit union clients to better serve their accountholders and win in the markets they serve. We also continued to deliver consistent, attractive value for our shareholders. One of the key drivers of this success is our ongoing journey to becoming One Jack Henry. This program, which began in 2019, has been instrumental in breaking down business unit silos, fostering consistency across the company, driving efficiency and scale, and re-defining our competitive edge. The One Jack Henry mindset is now deeply embedded in the very soul of our company, uniting us and creating value for our associates, clients, shareholders, and communities. our key differentiators As we ve continued to grow, it s become clear that five key attributes set us apart from our competitors: our people-first culture, industry-leading service, technology innovation, and a transparent strategy supported by consistent execution. Jack Henry has long been known for our storied culture and exceptional client service and we are 100% committed to ensuring that doesn t change. In recent years, we ve gained increased recognition for our innovation and strategy, and we re ensuring that our execution is just as strong. Combined, these differentiators will propel us to continue driving industry-leading revenue growth with solid margin expansion, benefiting all of our stakeholders. Culture One of the top priorities when I became CEO was to maintain our unique culture and stay deeply connected with past leaders. I regularly engage with associates to personally keep a pulse on the organization through activities like CEO Roadshows, Associate Town Halls, outreach on work anniversaries, and new hire orientations. Additionally, I stay in touch with retired leaders, and our entire leadership team is committed to sustaining the key foundational elements of our culture: do the right thing, do whatever it takes, and have fun. Do the right thing, do whatever it takes, and have fun. As an organization, we remain committed to listening to associates and acting on feedback. For example, in calendar year 2025, we added three holidays and expanded our half-day of paid time off for wellness to a full day. Our overall associate engagement scores were higher every quarter in fiscal year 2025 compared to the prior year, and we once again received many prestigious national and regional workplace awards. 2025 Annual Report | S H A R E H O L D E R S L E T T E R | 5
 • shareholder letter icon 10/2/2025 Letter Continued (Full PDF)
 • stockholder letter icon 10/5/2023 JKHY Stockholder Letter
 • stockholder letter icon 10/3/2024 JKHY Stockholder Letter
 • stockholder letter icon More "Information Technology Services" Category Stockholder Letters
 • Benford's Law Stocks icon JKHY Benford's Law Stock Score = 66


JKHY Shareholder/Stockholder Letter Transcript:

2
0
2
5
Annual Report

who we are
A well-rounded financial technology
company that strengthens connections
between financial institutions and the
people and businesses they serve.

CONTENTS
Financial Highlights  .

4
Shareholders    Letter .

5

9
One .
Financials  .
19


31

32
Market for Registrant   s Common Equity .
Performance Graph .
Management   s Discussion and Analysis .  .

43

44
Quantitative and Qualitative Disclosures About Market Risk  .
Financial Statements and Supplementary Data .  .

74
2025 Annual Report       | C O N T E N T S       |
3
Board of Directors and Executive Officers .  .
President and CEO Greg Adelson is joined by Pat Hall and Brenda
Henry (widows of Jack Henry's co-founders) as well as associates to
celebrate the unveiling of remodeled workspaces in Monett, Missouri.
33


Financial Highlights
(In millions except per share data)
revenue
diluted earnings
net income
per share
$2,500
$2,375
$456
$367
$382
$8
$500
$2,300
$300
$2,216
$7
$6.24
$400
$5.02
$6
$5.23
$5
$4
$200
$3
$2,100
$2,078
$2
$100
$1
$0
$1,900
2023
2024
2025
2023
return on shareholders    equity
2024
2025
$0
2023
2024
2025
earnings before interest, taxes,
depreciation, and amortization*
return on invested capital*
(EBITDA)
24.5%
22.1%
22.9%
35%
35%
30%
30%
25%
21.7%
19.7%
22.1%
4      |
$671
$689
$800
$700
$600
15%
15%
$500
10%
10%
$400
5%
5%
$300
0%
0%
2024
$773
20%
20%
2023
25%
$900
2025
C O N T E N T S       | 2025 Annual Report
2023
2024
2025
$200
2023
2024
2025
* For non-GAAP reconciliation, see page 72.

SHAREHOLDERS   
LETTER
Fellow Shareholders,
As we reflect on fiscal year 2025, we are extremely
proud of our more than 7,200 associates and what
we   ve accomplished together.
Despite some macroeconomic uncertainty and
challenges, we moved Jack Henry    forward,
delivering significant value to our key stakeholders as
one unified organization.
We remained focused on cultivating a peoplefirst culture where associates feel they belong.
We delivered needs-based solutions     backed by
excellent service     empowering our bank and credit
union clients to better serve their accountholders
and win in the markets they serve. We also
continued to deliver consistent, attractive value for
our shareholders.
One of the key drivers of this success is our
ongoing journey to becoming One Jack Henry.
This program, which began in 2019, has been
instrumental in breaking down business unit silos,
fostering consistency across the company, driving
efficiency and scale, and re-defining our competitive
edge. The One Jack Henry mindset is now deeply
embedded in the very soul of our company, uniting
us and creating value for our associates, clients,
shareholders, and communities.
our key differentiators
As we   ve continued to grow, it   s become clear that
five key attributes set us apart from our competitors:
our people-first culture, industry-leading service,
technology innovation, and a transparent strategy
supported by consistent execution.
Jack Henry has long been known for our storied
culture and exceptional client service     and we are
100% committed to ensuring that doesn   t change.
In recent years, we   ve gained increased recognition
for our innovation and strategy, and we   re ensuring
that our execution is just as strong. Combined, these
differentiators will propel us to continue driving
industry-leading revenue growth with solid margin
expansion, benefiting all of our stakeholders.
Culture
One of the top priorities when I became CEO was
to maintain our unique culture and stay deeply
connected with past leaders. I regularly engage
with associates to personally keep a pulse on
the organization through activities like CEO
Roadshows, Associate Town Halls, outreach on work
anniversaries, and new hire orientations. Additionally,
I stay in touch with retired leaders, and our entire
leadership team is committed to sustaining the key
foundational elements of our culture: do the right
thing, do whatever it takes, and have fun.
Do the right thing,
do whatever it takes,
and have fun.
As an organization, we remain committed to
listening to associates and acting on feedback. For
example, in calendar year 2025, we added three
holidays and expanded our half-day of paid time
off for wellness to a full day. Our overall associate
engagement scores were higher every quarter in
fiscal year 2025 compared to the prior year, and we
once again received many prestigious national and
regional workplace awards.
2025 Annual Report       | S H A R E H O L D E R S     L E T T E R       |
5



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