Agilysys reports record Q1 revenue of $47.5M (+22.7% YoY); reiterates FY23 guidance

AGILYSYS INC

2022-Q1 EPS reported $0.10 revenue$47,506,000

Revenue $47.5M (record), up 22.7% YoY; subscription revenue up 29.5% to 47.4% of recurring.
Net income $2.6M ($0.10 diluted EPS) vs $1.5M ($0.06); adjusted EPS $0.21 (flat YoY).
Adjusted EBITDA $6.7M vs $6.9M; free cash flow $0.0M vs $7.7M; cash $94.9M.
FY23 guidance reaffirmed: revenue $190-195M, subscription growth ~30%, Adj. EBITDA >15%.
CEO cites good momentum, increased sales/marketing spend; gross margin 60.0% vs 64.2%.

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