The company has not filed an annual or quarterly report since its FY2020 10-K, filed Feb 25, 2021. Its latest SEC filing is a 15-12G from May 3, 2021.
10-K for FY2020, filed Feb 25, 2021
The sections below describe the company as of the FY2020 annual report.
Builds and operates online government services and payment systems for federal, state and local governments, helping businesses and citizens access information and complete transactions.
10-K for FY2020, filed Feb 25, 2021NIC is a leading provider of digital government services and payment solutions that help governments use technology to provide a higher…View ↗
In our state enterprise businesses, we generally enter into contracts with state and local governments to design, build, and operate…View ↗
In our software & services businesses, we provide certain stand-alone software-as-a-service (“SaaS”) solutions relating to payment…View ↗
For state enterprise services, governments grant access to online services, and NIC receives a fee for each transaction processed, paid by end users. It also earns fees for software development and fixed-fee services, including subscriptions and COVID-19 testing.
10-K for FY2020, filed Feb 25, 2021Our state master contracts typically authorize our subsidiaries to design, build and operate a wide range of digital government services…View ↗
The Company earns development services revenues primarily under contracts to provide software development and other time and materials…View ↗
Fixed-fee services revenues primarily consist of revenues from providing recurring fixed-fee services for the Company’s government partner…View ↗
In August 2020, the Company began providing a rapid and secure COVID-19 testing solution referred to as TourHealth, featuring digital…View ↗
For TourHealth transaction-based fee contracts, the fees earned by the Company are typically usage-based and calculated based on the number…View ↗
10-K for FY2020, filed Feb 25, 2021
FY2020 revenue by product or service ↗$460.5M
10-K for FY2020, filed Feb 26, 2021
$460.5M ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
State enterprise revenues
Usage-based
10-K for FY2020, filed Feb 25, 2021 |
72% |
State enterprise revenues, FY2020
$331.7M Sources
|
Usage-based |
|
Software & services revenues
|
28%
FY2017: 7.5%
|
Software & services revenues, FY2020
$128.7M Sources
|
State and local governments contract for enterprise-wide services; federal, state and local agencies also buy standalone software, payment processing and other digital services. Businesses and citizens use the services, while data resellers access government records through NIC's government partners.
10-K for FY2020, filed Feb 25, 2021In our state enterprise businesses, we generally enter into contracts with state and local governments to design, build, and operate…View ↗
In our software & services businesses, we provide certain stand-alone software-as-a-service (“SaaS”) solutions relating to payment…View ↗
A primary source of revenue is derived from data resellers, such as LexisNexis Risk Solutions, which have entered into contracts with our…View ↗
Yes. It kept 15 cents of every revenue dollar as net income in FY2020 and turned 13 cents into free cash flow.
8-K, filed Apr 21, 2021
Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each outstanding share of Common…View ↗
Grew. Revenue grew 45% in 4 years, from $317.9M in FY2016 to $460.5M in FY2020, about 10% a year.
Broader service offerings
The latest report describes payment solutions alongside digital government services and adds testing services, while the older report focused on online government portals and software development and payment processing.
10-K for FY2017, filed Feb 22, 2018 10-K for FY2020, filed Feb 25, 2021Business OverviewView ↗
NIC is a leading provider of digital government services that help governments use technology to provide a higher level of service to…View ↗
Our software & services businesses primarily include our subsidiaries that provide software development and payment processing services…View ↗
NIC is a leading provider of digital government services and payment solutions that help governments use technology to provide a higher…View ↗
In our software & services businesses, we provide certain stand-alone software-as-a-service (“SaaS”) solutions relating to payment…View ↗
In August 2020, the Company began providing a rapid and secure COVID-19 testing solution referred to as TourHealth, featuring digital…View ↗
Competes with Deloitte, Accenture, IBM, CGI, Unisys, AWS, Microsoft, Salesforce, First Payment Systems, Paymentus, FIS, Accela, FAST Enterprises, GCR, Aspira, Sovereign Sportsman Solutions, Brandt Information Services, and Appriss
10-K for FY2020, filed Feb 25, 2021traditional large systems integrators and consulting firms, including Deloitte, Accenture, IBM, CGI and Unisys; platform providers…View ↗
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