CSG Systems International, Inc. reported a revenue of $1.197 billion for the fiscal year ending December 31, 2024, marking a 2.4% increase from $1.169 billion in 2023. The company's operating income rose to $131.3 million, reflecting an operating margin of 11.0%, up from 10.6% the previous year. Diluted earnings per share (EPS) also saw a significant increase, reaching $3.03 compared to $2.20 in 2023. The growth in revenue was primarily driven by the expansion of its Software as a Service (SaaS) and related solutions, which included contributions from acquisitions made during the year.
In terms of operational changes, CSG made strategic acquisitions in 2024, including a customer communication services business and iCheckGateway.com, LLC, a payment processing company. These acquisitions are expected to enhance CSG's capabilities and market reach, particularly in the payments sector. The company also reported a reduction in restructuring and reorganization charges to $13.3 million in 2024 from $16.3 million in 2023, indicating a focus on streamlining operations and aligning resources with growth opportunities.
CSG's customer base remains concentrated, with its two largest clients, Charter and Comcast, accounting for approximately 39% of total revenue. Revenue from Charter was $240 million, while Comcast contributed $225 million, reflecting a slight increase from the previous year. The company reported a total of 131,000 active merchants using its payment services, with transaction fees contributing significantly to revenue growth. CSG's global workforce stood at over 5,800 employees, with a notable presence in the Asia-Pacific region.
Looking ahead, CSG anticipates continued growth driven by its SaaS platforms and the integration of acquired businesses. The company aims to expand its footprint in high-growth industry verticals beyond its traditional telecommunications market. CSG's management expressed confidence in achieving long-term organic revenue growth while maintaining a disciplined approach to acquisitions, focusing on strategic fit and financial viability. The company also plans to return value to shareholders through stock repurchases and dividends, with an additional $100 million authorized for share buybacks.
About CSG SYSTEMS INTERNATIONAL INC
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.