CSG Systems International Reports 7.3% Revenue Increase in 10-K Report

By Bobby Samwell • Friday, February 16 15:45 • Permanent Link

Today, CSG Systems International has released its 10-K report. CSG Systems International, Inc. provides revenue management and digital monetization, customer engagement, and payment solutions primarily to the communications industry across various regions. It offers Advanced Convergent Platform, related solutions, managed services, and professional services to implement, configure, and maintain its solutions, as well as licenses various solutions to retail, financial services, healthcare, insurance, and government entities. The company was incorporated in 1994 and is headquartered in Englewood, Colorado.

In the latest 10-K report, CSG Systems International reported a revenue of $1,169.3 million for the year ended December 31, 2023, representing a 7.3% increase from $1,089.8 million in 2022. The operating income for 2023 was $123.9 million, with an operating margin percentage of 10.6%, compared to $78.7 million and a 7.2% operating margin percentage in 2022. The diluted earnings per share (EPS) for 2023 stood at $2.20, a significant increase from $1.41 in 2022. The company also reported an increase in cash, cash equivalents, and short-term investments to $186.3 million as of December 31, 2023, compared to $150.4 million in the previous year.

Notably, a large percentage of CSG Systems International's historical revenue has been generated from its two largest customers, Charter Communications Inc. and Comcast Corporation. Revenue from Charter in 2023 and 2022 was $241 million and $221 million, respectively, representing approximately 21% and 20% of the total revenue. Revenue from Comcast for the same periods was $215 million and $214 million, representing approximately 18% and 20% of the total revenue.

The company also highlighted its critical accounting policies, including revenue recognition, impairment assessments of long-lived assets, income taxes, and loss contingencies, emphasizing the significant judgments and estimates involved in these areas.

For more information, read the company's full 10-K submission here.

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