Jack Henry & Associates, a financial technology company, recently released its 10-Q report, revealing a 5.2% increase in total revenue for the second quarter of fiscal 2025, reaching $567 million. The company operates through four segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions, while the Payments segment offers secure payment processing tools and services. The Complementary segment provides additional software and hosted processing platforms, and the Corporate and Other segment offers hardware and other products.
The company's total revenue for the second quarter of fiscal 2025 increased by 5.2%, or $28,147, compared to the same quarter in fiscal 2024. The operating expenses increased by 5.7%, or $24,112, for the same period. Operating income increased by 3.4%, or $4,035, for the second quarter of fiscal 2025 compared to the second quarter of fiscal 2024. The provision for income taxes increased by 4.5%, or $1,278, for the second quarter of fiscal 2025, compared to the second quarter of fiscal 2024.
For the six months ended December 31, 2024, the total revenue increased by 5.2%, or $57,760, compared to the same period in fiscal 2024. Operating expenses increased by 4.1%, or $35,149, for the same period. Operating income increased by 9.0%, or $22,611, for the six months ended December 31, 2024 compared to the same period in fiscal 2024. The provision for income taxes increased by 12.2%, or $7,316, for the six months ended December 31, 2024, compared to the same period in fiscal 2024.
The company's services and support revenue increased by 3.5% for the second quarter of fiscal 2025 compared to the same quarter a year ago. Processing revenue increased by 7.3% for the second quarter of fiscal 2025 compared to the same quarter last fiscal year. Cost of revenue for the second quarter of fiscal 2025 increased by 3.7% over the prior fiscal year second quarter, while research and development expense increased by 15.8% for the second quarter of fiscal 2025 compared to the prior fiscal year second quarter.
Jack Henry & Associates continues to provide recurring revenue and has a promising sales pipeline. The company's clients continue to face regulatory and operational challenges, which its products and services address. The company believes its strong balance sheet, access to extensive lines of credit, and its commitment to superior client service position it well to address current and future opportunities. The market has reacted to these announcements by moving the company's shares -0.3% to a price of $173.33. If you want to know more, read the company's complete 10-Q report here.
