FY26 · Ended Jun 30, 2026 · View SEC filing
The core system earns less than what surrounds it
Core systems anchor each client, but payments and add-on tools earn most revenue, including from about 5,600 non-core clients.
For investorsWhat the margin depends on from here
For foundersSelling around a system of record
Operating margin slid from 28.5% in the first quarter to below the year-earlier quarter, and the filing points to personnel and medical costs.
Operating cash rose 18.8% against 10.3% for net income; the filing credits deferred taxes after research costs became immediately deductible.
Per-account and asset-linked fees rise as a client grows, so larger survivors of consolidation pay more without a new sale.
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Business Lens describes Jack Henry from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
