Agilysys reports record Q1 revenue of $56.1M; subscription revenue up 27.4%

AGILYSYS INC

2023-Q1 EPS reported $0.04 revenue$56,059,000

Record total net revenue $56.1M (+18% YoY); subscription revenue grew 27.4% to $32.1M (57.3% of revenue).
GAAP net income $1.1M ($0.04 diluted EPS) vs $2.6M ($0.10) prior year; adjusted EPS $0.18 (vs $0.21).
Adjusted EBITDA $6.3M (11.2% of revenue) vs $6.7M prior year; free cash flow -$3.0M.
Reaffirms FY2024 guidance: revenue $230-235M, 25% subscription growth, adjusted EBITDA 13% of revenue.
Management cites best-ever Q1 sales in annual contract value; backlog near record levels.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AGILYSYS INC reported fiscal 2024 first quarter ending June 30, 2023 results: revenue $56.1 million, net income $1.1 million, EPS $0.04 per diluted share. Guidance reaffirmed.

Period: fiscal 2024 first quarter ending June 30, 2023
Revenue: $56.1 million
Net income: $1.1 million
EPS: $0.04 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Summary of Fiscal 2024 First Quarter Financial Results • Total net revenue increased 18.0% to a record $56.1 million, compared to total net revenue of $47.5 million in the comparable prior-year period. • Recurring revenue (comprised of subscription and maintenance charges) was a record $32.1 million, or 57.3% of total net revenue compared to $27.7 million, or 58.4% of total net revenue for the same period in fiscal 2022. Subscription revenue increased 27.4% year-over-year and was 52.2% of total recurring revenue compared to 47.4% of total recurring revenue in the first quarter of fiscal 2023. • Gross margin was 59.0% compared to 60.0% in the comparable prior-year period. • Net income attributable to common shareholders was $1.1 million, or $0.04 per diluted share compared to $2.6 million, or $0.10 per diluted share in the comparable prior-year period.

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Source: SEC EDGAR

accession 0000950170-23-034053

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