Loading...
•
Jun 30, 2023
Agilysys Q1 2024 Earnings Report
Agilysys reported record revenue and subscription revenue growth during the fiscal 2024 first quarter.
Key Takeaways
Agilysys reported a record $56.1 million in revenue, an 18% increase compared to the prior year. Subscription revenue grew by 27.4%. GAAP EPS was $0.04, and adjusted EBITDA was $6.3 million.
Total net revenue increased 18.0% to a record $56.1 million.
Recurring revenue was a record $32.1 million, or 57.3% of total net revenue.
Subscription revenue increased 27.4% year-over-year.
Net income attributable to common shareholders was $1.1 million, or $0.04 per diluted share.
Agilysys
Agilysys
Agilysys Revenue by Segment
Revenue by Segment
Products Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Agilysys is reiterating full year fiscal 2024 guidance of revenue to be $230 to $235 million, inclusive of 25% year-over-year subscription revenue growth and Adjusted EBITDA of 13% of revenue for the full fiscal year.
Positive Outlook
- Revenue to be $230 to $235 million.
- 25% year-over-year subscription revenue growth.
- Adjusted EBITDA of 13% of revenue for the full fiscal year.
- Continuing sales expansion across both current and new customers.
- Total backlog remaining close to record levels.
Challenges Ahead
- Working through a couple of quarters of growth-related cost increase pressures.
- Expect the second half of the fiscal year to return to normal profitability levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income