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Dec 31, 2020
Agilysys Q3 2021 Earnings Report
Agilysys reported a decrease in total net revenue but an increase in recurring revenue and adjusted EBITDA.
Key Takeaways
Agilysys reported a decrease in total net revenue to $36.7 million, but recurring revenues increased to $22.8 million. The company reported a net loss attributable to common shareholders of $(2.5) million, or $(0.11) per diluted share. Adjusted EBITDA was $7.6 million and free cash flow was $7.8 million.
Total net revenue decreased by 13% to $36.7 million compared to the prior-year period.
Recurring revenues increased to $22.8 million, representing 62.3% of total net revenue.
Adjusted EBITDA increased to $7.6 million compared to $3.2 million in the prior-year period.
Free cash flow increased to $7.8 million compared to $3.0 million in the prior-year period.
Revenue by Segment
Forward Guidance
Agilysys expects Q4 fiscal 2021 revenue to remain sequentially flat compared to Q3, with Adjusted EBITDA reducing to $7.0M, mainly due to further increases in R&D resource strength.
Challenges Ahead
- Q4 fiscal 2021 revenue is expected to remain sequentially flat compared to Q3.
- Adjusted EBITDA reducing to $7.0M in Q4 fiscal 2021.
- Decreased Adjusted EBITDA levels on flat revenue due to continued hiring in R&D.
- Lingering uncertainty on timing and speed of the recovery in the hospitality industry.
- The business environment to remain unchanged during the immediate future.
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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