And SG&A expense increased 16% in the fourth quarter. And this increase is primarily, again, due to increased personnel costs, which includes commissions and travel-related costs compared to last year.

Aug 17, 2022 / CFO / receipt, needs a key / Kevin Williams, CFO | earnings call 2022-08-17 | transcript 7c8fa623-421c-429b-b8cc-543c69f914d0 | chars 13194-13395 | segment 13

And SG&E expense increased 13% in the third quarter compared to the same quarter last year. Again, this increase was due primarily to increased personnel costs and also increased travel related costs compared to the prior year.

May 4, 2022 / CFO / receipt, needs a key / Kevin Williams, CFO | earnings call 2022-05-04 | transcript 91b36bdf-e238-4d4c-89a0-2f83b3370050 | chars 10730-10957 | segment 10

Our SG&E expense increased 13% in the first quarter compared to the same quarter in the previous year. This increase was due primarily to increased personnel costs and travel-related costs compared to last year as travel increased significantly in Q1 compared to last year.

Nov 9, 2021 / CFO / receipt, needs a key / Kevin Williams, CFO | earnings call 2021-11-09 | transcript 632f5b8f-ff43-42eb-9738-34c92422b56b | chars 13359-13632 | segment 13

However, I continue to be somewhat cautious on guiding to too much of an operating margin expansion as we will continue to have headwinds on license and hardware revenue as we continue to move core customers from on-premise to our private cloud, and also travel costs will continue to increase significantly compared to the prior year.

Nov 9, 2021 / CFO / receipt, needs a key / Kevin Williams, CFO | earnings call 2021-11-09 | transcript 632f5b8f-ff43-42eb-9738-34c92422b56b | chars 17083-17418 | segment 16

And at this time, we are still planning to host our Jack Henry Annual Conference and our Scimitar Edge Conference in person this year. Therefore, there will be some large costs returning this year compared to last year, when there was very little travel.

Aug 18, 2021 / CFO / receipt, needs a key / Kevin Williams, CFO | earnings call 2021-08-18 | transcript 47289341-2622-4d31-a43c-00dba4cc476a | chars 18788-19042 | segment 18

However, the growth in that line was totally offset by a decrease in our product delivery services revenue. which is due to decreased license, hardware, and invitation revenue for primarily on-premise customers, pass-through revenue, which is related to our billable travel, primarily related to travel limitations related to COVID, and our Jack Henry Annual Conference, or our JEC, which was held virtually, and therefore no registration fees for customers or vendors for our tech fair.

Feb 9, 2021 / CFO / receipt, needs a key / Kevin Williams, CFO | earnings call 2021-02-09 | transcript 5466861e-e06f-4fd1-847c-45cec253ffa8 | chars 11381-11868 | segment 11