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Dec 31, 2021
Agilysys Q3 2022 Earnings Report
Reported fiscal 2022 third quarter results.
Key Takeaways
Agilysys reported Q3 fiscal 2022 revenue of $39.5 million, a record recurring revenue of $25.1 million, and positive GAAP EPS of $0.04 with quarterly free cash flow of $9.9 million.
Total net revenue was $39.5 million, compared to $36.7 million in the third quarter of fiscal 2021.
Recurring revenues were $25.1 million, or 63.7% of total net revenue, compared to $22.8 million, or 62.3% of total net revenue in the third quarter of fiscal 2021.
Subscription revenues increased 24.9% over fiscal 2021 third quarter to a record $11.7M.
Net income attributable to common shareholders was $1.1 million, or $0.04 per diluted share, compared to a net loss of $(2.5) million or $(0.11) per diluted share for the third quarter of fiscal 2021.
Revenue by Segment
Forward Guidance
Agilysys expects overall revenue during Q4 to be at record levels and total fiscal 2022 annual revenue to be at the low end of the guidance provided with Adjusted EBITDA being slightly better than 15% of revenue.
Positive Outlook
- Overall revenue during Q4 to be at record levels.
- Total fiscal 2022 annual revenue to be at the low end of the guidance provided.
- Adjusted EBITDA being slightly better than 15% of revenue.
- Profitability and recurring revenue growth continuing as significant strengths.
- Q3 fiscal 2022 was highest top line revenue quarter since the pandemic started close to two years ago.
Challenges Ahead
- Supply chain and labor shortages continue to be a challenge to top line revenue.
- Accelerating shift from on premise to SaaS based solutions has created a drag on top line revenue sooner than anticipated.
- Partial to high business environment challenges across Asia, Europe, managed food services, cruise ships and hotel chains.
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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