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Dec 31, 2023
Agilysys Q3 2024 Earnings Report
Agilysys grew revenue and achieved record revenue quarter.
Key Takeaways
Agilysys reported a record third quarter with a 21.3% increase in total net revenue, reaching $60.6 million. Subscription revenue grew by 29.9%. Adjusted EBITDA was $11.8 million and adjusted EPS was $0.35. The company raised Adjusted EBITDA expectations for fiscal year 2024 to 15% of revenue.
Total net revenue increased by 21.3% to a record $60.6 million.
Recurring revenue was a record $35.1 million, comprising 58.0% of total net revenue.
Subscription revenue increased 29.9% year-over-year.
Net income attributable to common shareholders was $76.9 million, or $2.85 per diluted share, which included a $65.1 million release of valuation allowances against certain deferred tax assets.
Agilysys
Agilysys
Agilysys Revenue by Segment
Revenue by Segment
Products Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Agilysys raised Adjusted EBITDA expectations for fiscal year 2024 to 15% of revenue and reiterated full-year revenue guidance of $235 to $238 million and subscription revenue growth of 28% year-over-year.
Positive Outlook
- Expects fiscal 2024 Adjusted EBITDA to be 15% of revenue.
- Several major customers across various geographies continue to implement recently modernized versions of cloud-native solutions.
- Customers are increasingly relying on Agilysys to enable new efficiencies for staff and better experiences for guests.
- Competitive positioning across all product categories continues to strengthen.
- Confident about continued good business growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income