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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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