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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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