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Mar 31, 2023
Agilysys Q4 2023 Earnings Report
Agilysys reported record revenue for the fourth quarter of fiscal year 2023.
Key Takeaways
Agilysys announced record fourth quarter revenue of $52.9 million, a 13.6% increase year-over-year. Subscription revenue grew 23.9% year-over-year. The company's free cash flow was $13.2 million, compared to $6.5 million in the prior year. They expect FY24 revenue to grow to $230M-$235M.
Total net revenue increased 13.6% to a record $52.9 million.
Recurring revenue was a record $31.4 million, or 59.3% of total net revenue.
Net income attributable to common shareholders was $3.6 million, or $0.14 per diluted share.
Free cash flow was $13.2 million.
Agilysys
Agilysys
Agilysys Revenue by Segment
Revenue by Segment
Products Revenue
CapyFin.com Forward Guidance
Agilysys expects full year fiscal 2024 revenue to be $230 to $235 million, inclusive of 25% year-over-year subscription revenue growth. Adjusted EBITDA is expected to be 13% of revenue for the full fiscal year.
Positive Outlook
- Expecting full year fiscal 2024 revenue to be $230 to $235 million.
- Subscription revenue growth of 25% year-over-year.
- Record backlog levels position the company well for fiscal 2024.
- Dedicated to executing on disciplined profitable growth.
- Increasing investments in various areas to drive the next growth phase of the business.
Challenges Ahead
- Macroeconomic volatility may impact the overall business environment.
- Increased investments may result in reduced profitability expectations for the year.
- Adjusted EBITDA is expected to be 13% of revenue for the full fiscal year.
- Future revenue growth is subject to risks described in the Company’s filings with the Securities and Exchange Commission.
- The company's ability to convert the backlog into revenue