Loading...
•
Sep 30, 2023
Agilysys Q2 2024 Earnings Report
Agilysys grew second quarter revenue and raised full year revenue guidance.
Key Takeaways
Agilysys reported a strong second quarter with a 22.8% increase in total net revenue, reaching a record $58.6 million, and a 29.1% increase in subscription revenue. The company raised its full year revenue guidance to $235M to $238M and subscription revenue growth to 28%.
Total net revenue increased by 22.8% to a record $58.6 million compared to the prior year.
Recurring revenue was a record $34.2 million, representing 58.4% of total net revenue.
Net income attributable to common shareholders was $4.1 million, or $0.16 per diluted share, compared to $3.1 million, or $0.12 per diluted share in the prior year.
Free cash flow was $2.5 million compared to $2.3 million in the prior year.
Agilysys
Agilysys
Agilysys Revenue by Segment
Revenue by Segment
Products Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Agilysys is raising its full year fiscal 2024 revenue guidance to $235 to $238 million, increasing subscription revenue growth guidance for the full 2024 fiscal year to 28% year-over-year and increasing Adjusted EBITDA expectations for fiscal 2024 to 14% of revenue.
Positive Outlook
- Full year fiscal 2024 revenue guidance raised to $235 to $238 million.
- Subscription revenue growth guidance increased to 28% year-over-year for fiscal year 2024.
- Adjusted EBITDA expectations for fiscal 2024 increased to 14% of revenue.
- Successful implementations of larger projects contributed to high sequential subscription revenue growth.
- First half of the fiscal year has been stronger than expected due to sales investments and product innovation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income