---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-034053"
form_type: "8-K"
ticker: "AGYS"
cik: "0000078749"
company_name: "AGILYSYS INC"
filed_at: "2023-07-24T23:59:59+00:00"
generated_at: "2026-06-13T04:37:45.128954+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-034053
- form_type: 8-K
- ticker: AGYS
- cik: 0000078749
- company_name: AGILYSYS INC
- filed_at: 2023-07-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/78749/000095017023034053/0000950170-23-034053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/78749/000095017023034053/agys-20230724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-034053
- JSON: https://secwatch.observer/filing/0000950170-23-034053.json
- Plain text: https://secwatch.observer/filing/0000950170-23-034053.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/78749/000095017023034053/0000950170-23-034053-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.