American Software Q2 2024 Earnings Report
Key Takeaways
American Software reported a 6% decrease in total revenues to $25.7 million, but an 8% increase in subscription fees to $13.4 million. GAAP net earnings from continuing operations were $0.6 million, or $0.02 per diluted share. Adjusted EBITDA from continuing operations was $4.1 million, representing 16% of revenue.
Subscription fees increased by 8% compared to the same period last year.
Total revenues decreased by 6% due to a decline in services and maintenance fee revenue.
Recurring revenue streams accounted for 84% of total revenues.
The company divested its information technology consulting firm, The Proven Method.
American Software
American Software
American Software Revenue by Segment
Forward Guidance
American Software provided financial outlook for fiscal year 2024, including total revenues of $100.0 million to $104.0 million and adjusted EBITDA of $14.5 million to $16.0 million.
Positive Outlook
- Total revenues of $100.0 million to $104.0 million.
- Total recurring revenues of $85.0 million to $88.0 million.
- Adjusted EBITDA of $14.5 million to $16.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income