secwatch.observer — SEC 8-K summary
======================================

Issuer:     AGILYSYS INC (AGYS)
CIK:        0000078749
Form:       8-K
Filed at:   2023-07-24T23:59:59+00:00
Accession:  0000950170-23-034053
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/78749/000095017023034053/0000950170-23-034053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/78749/000095017023034053/agys-20230724.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-034053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer