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Dec 31, 2022
Agilysys Q3 2023 Earnings Report
Agilysys reported record revenue and increased profitability.
Key Takeaways
Agilysys reported a record revenue quarter with a 26.5% increase, reaching $49.9 million. Recurring revenue was $30.2 million, and subscription revenue grew by 28.8%. GAAP EPS was $0.13, and adjusted EBITDA was $8.1 million. The company raised its fiscal year 2023 revenue guidance to $195 to $198 million.
Total net revenue increased by 26.5% to a record $49.9 million.
Recurring revenue reached $30.2 million, representing 60.4% of total net revenue.
Net income attributable to common shareholders was $3.4 million, or $0.13 per diluted share.
Free cash flow was $11.7 million.
Forward Guidance
Agilysys raised its full-year fiscal 2023 revenue guidance to $195 to $198 million and reiterated its Adjusted EBITDA guidance of greater than 15% of revenue.
Positive Outlook
- Full-year revenue is expected to be in the range of $195 to $198 million.
- Subscription revenue growth is expected to be close to 30% year over year.
- Adjusted EBITDA levels are expected to be slightly higher than 15% of revenue.
- Investments in sales and marketing are expected to contribute to winning sales opportunities.
- Cloud native solutions are expected to put the company in a strong position.
Challenges Ahead
- Macro-economic challenges during the short and medium term.
- Effect of the COVID-19 pandemic on business.
- Impact other macroeconomic factors may have on the overall business environment.
- Risks described in the Company’s filings with the Securities and Exchange Commission.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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