Despite their band name no longer making much sense (will they become Fourth Harmony?), the girls of Fifth Harmony are in it for the long haul.

The pop group will not only continue on as a four-piece act, but will move forward with work on a third studio album to be released in 2017, Billboard confirms.

Following Camila Cabello's shocking (was it really?) departure on December 19, the magazine learned that Epic Records and Syco exercised their deal option on the 2012 X Factor-formed group—which includes remaining members Ally Brooke, Normani Kordei, Lauren Jauregui and Dinah Jane—who will release a third album this year.

Representatives for the group confirmed that "Epic has in fact exercised their deal option with Fifth Harmony," but according to Billboard, a source implied that continuing as a unit, for now, is a win-win for all involved.

"They’re in a position to have more creative involvement and really direct where they want their music to go," the source explained. "They're a huge name on the Epic roster so it makes sense to keep them there and work on another hit album. While at the same time it benefits the girls to stay as well and really own the direction they're going in rather than litigate themselves out of a deal."

Meanwhile, a rep for Simon Cowell commented that the Syco Records founder remains "committed as ever to the group he envisioned."

See Photos of Fifth Harmony Through the Years:

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