Agilysys Announces Record Revenue of $68.3M in Second Quarter Fiscal 2025
Agilysys (NASDAQ: AGYS) reported record Q2 fiscal 2025 results with total revenue up 16.5% to $68.3M. Subscription revenue grew 36.6% year-over-year, representing 60.5% of total recurring revenue. The company achieved a gross margin of 63.3% and Adjusted EBITDA of $12.2M. Net income was $1.4M or $0.05 per diluted share. Following the successful integration of Book4Time and strong sales performance, Agilysys raised its fiscal 2025 guidance to $280M-$285M in revenue with at least 38% subscription revenue growth and 18% Adjusted EBITDA.
Agilysys (NASDAQ: AGYS) ha riportato risultati record per il secondo trimestre fiscale 2025, con un aumento del fatturato totale del 16,5% a $68,3 milioni. I ricavi da abbonamento sono cresciuti del 36,6% rispetto all'anno precedente, costituendo il 60,5% del totale dei ricavi ricorrenti. L'azienda ha realizzato un margine lordo del 63,3% e un EBITDA rettificato di $12,2 milioni. L'utile netto è stato di $1,4 milioni, equivalente a $0,05 per azione diluita. A seguito dell'integrazione riuscita di Book4Time e di un forte andamento delle vendite, Agilysys ha rivisto al rialzo le previsioni per l'anno fiscale 2025, stimando un fatturato compreso tra $280 milioni e $285 milioni, con una crescita dei ricavi da abbonamento di almeno il 38% e un EBITDA rettificato del 18%.
Agilysys (NASDAQ: AGYS) reportó resultados récord en el segundo trimestre fiscal de 2025, con un aumento del ingreso total del 16.5% a $68.3 millones. Los ingresos por suscripción crecieron un 36.6% interanual, representando el 60.5% del total de ingresos recurrentes. La compañía logró un margen bruto del 63.3% y un EBITDA ajustado de $12.2 millones. La utilidad neta fue de $1.4 millones o $0.05 por acción diluida. Tras la exitosa integración de Book4Time y un sólido desempeño de ventas, Agilysys elevó su pronóstico para el año fiscal 2025 a $280 millones-$285 millones en ingresos con al menos un crecimiento del 38% en ingresos por suscripción y un EBITDA ajustado del 18%.
Agilysys (NASDAQ: AGYS)는 2025 회계연도 2분기 기록적인 실적을 보고했으며, 총 수익이 16.5% 증가하여 6830만 달러에 달했습니다. 구독 수익은 전년 대비 36.6% 성장하여 총 반복 수익의 60.5%를 차지했습니다. 이 회사는 63.3%의 총 이익률과 1220만 달러의 조정된 EBITDA를 달성했습니다. 순이익은 140만 달러로, 희석 주당 0.05 달러입니다. Book4Time의 성공적인 통합과 강력한 판매 성과를 바탕으로 Agilysys는 2025 회계연도 매출 전망을 2억8000만~2억8500만 달러로 상향 조정했으며, 구독 수익은 최소 38% 성장하고 조정된 EBITDA는 18%에 이를 것으로 예상하고 있습니다.
Agilysys (NASDAQ: AGYS) a annoncé des résultats records pour le deuxième trimestre de l'exercice 2025, avec un chiffre d'affaires total en hausse de 16,5% à 68,3 millions de dollars. Les revenus d'abonnement ont augmenté de 36,6% par rapport à l'année précédente, représentant 60,5% du revenu récurrent total. L'entreprise a atteint une marge brute de 63,3% et un EBITDA ajusté de 12,2 millions de dollars. Le bénéfice net s'est élevé à 1,4 million de dollars, ou 0,05 dollar par action diluée. Suite à l'intégration réussie de Book4Time et à de solides performances commerciales, Agilysys a relevé ses prévisions pour l'exercice 2025 à un chiffre d'affaires compris entre 280 millions et 285 millions de dollars, avec une croissance des revenus d'abonnement d'au moins 38% et un EBITDA ajusté de 18%.
Agilysys (NASDAQ: AGYS) hat im zweiten Quartal des Geschäftsjahres 2025 Rekordergebnisse veröffentlicht, mit einem Anstieg des Gesamtumsatzes um 16,5% auf 68,3 Millionen USD. Die Abonnementumsätze stiegen im Jahresvergleich um 36,6%, was 60,5% des gesamten wiederkehrenden Umsatzes entspricht. Das Unternehmen erzielte eine Bruttomarge von 63,3% und ein adjusting EBITDA von 12,2 Millionen USD. Der Nettogewinn betrug 1,4 Millionen USD oder 0,05 USD pro verwässerter Aktie. Nach der erfolgreichen Integration von Book4Time und einer starken Verkaufsleistung hat Agilysys die Prognose für das Geschäftsjahr 2025 auf einen Umsatz von 280 bis 285 Millionen USD angehoben, wobei ein Wachstum der Abonnementumsätze von mindestens 38% und ein adjusted EBITDA von 18% angestrebt wird.
- Record revenue of $68.3M, up 16.5% YoY
- Subscription revenue growth of 36.6% YoY
- Gross margin improved to 63.3% from 59.9%
- Adjusted EBITDA increased to $12.2M from $8.1M
- Free cash flow improved to $5.9M from $2.5M
- Raised full-year guidance to $280M-$285M
- Net income decreased to $1.4M from $4.1M YoY
- Diluted EPS declined to $0.05 from $0.16 YoY
- Cash balance reduced to $54.9M from $144.9M
Insights
The Q2 FY25 results showcase robust growth with
The hospitality software sector is showing strong demand signals through Agilysys's performance. The
Increases Full Year Fiscal 2025 Revenue Guidance to
Summary of Fiscal 2025 Second Quarter Financial Results
-
Total net revenue increased
16.5% to a record compared to total net revenue of$68.3 million in the comparable prior-year period.$58.6 million -
Recurring revenue (comprised of subscription and maintenance charges) was a record
, or$41.4 million 60.7% of total net revenue, compared to , or$34.2 million 58.4% of total net revenue for the same period in fiscal 2024. Subscription revenue increased36.6% year over year and was60.5% of total recurring revenue compared to53.6% of total recurring revenue in the second quarter of fiscal 2024. -
Gross margin was
63.3% in the fiscal 2025 second quarter compared to59.9% in the comparable prior-year period. -
Net income attributable to common shareholders in the fiscal 2025 second quarter was
, or$1.4 million per diluted share, compared to$0.05 , or$4.1 million per diluted share, in the comparable prior-year period.$0.16 -
Adjusted EBITDA (non-GAAP) was
compared to$12.2 million in the comparable prior-year period (reconciliation included in financial tables).$8.1 million -
Adjusted diluted EPS (non-GAAP) was
per share in the fiscal 2025 second quarter compared to$0.34 per share in the comparable prior-year period (reconciliation included in financial tables).$0.25 -
Free cash flow (non-GAAP) in the fiscal 2025 second quarter was
compared to free cash flow of$5.9 million in the fiscal 2024 second quarter (reconciliation included in financial tables). Ending cash balance was$2.5 million compared to ending cash balance of$54.9 million as of fiscal 2024 year-end. During the fiscal 2025 second quarter, cash paid for the acquisition of Book4Time, net of cash acquired, was$144.9 million while cash received from debt proceeds, net of issuance costs, was$144.9 million .$49.7 million
Ramesh Srinivasan, President and CEO of Agilysys, commented, “We are pleased to report another set of excellent results with record revenue for the 11th consecutive quarter at
"Our growing competitive strengths based on a solid foundation of cloud-native state-of-the-art technology and a broad ecosystem of hospitality-focused software products and modules continue to yield good current results and create extensive potential for increasing shareholder value. A strong selling success quarter which drove cumulative recurring revenue, services and product backlog close to peak levels, along with additional subscription revenue from Book4Time increased our expectations for the second half of fiscal 2025. As a result, we are raising full fiscal year 2025 revenue guidance to
Fiscal 2025 Outlook
The Company raises full year fiscal 2025 revenue guidance to
Dave Wood, Chief Financial Officer, commented, “We are pleased with the business momentum through the first half of the fiscal year and increased expectations for the second half. The Book4Time acquisition expands our reach within hospitality and provides us an expanded customer base to sell the Agilysys ecosystem of products into. Our current and improving profitability levels and expanding operating leverage creates flexibility for our business and gives us confidence to continue to invest in future revenue growth initiatives.”
2025 Second Quarter Conference Call and Webcast
Agilysys is hosting a conference call and webcast today, October 28, 2024, at 4:30 p.m. ET. Both the call and the webcast are open to the public. Please register at https://register.vevent.com/register/BIfb8adfed26314ff8abe76f95460e6fde 15 minutes prior to the call to receive confirmation and further instruction in a timely manner. After registration, an email confirmation with a personalized PIN will be provided along with further access details.
Interested parties also can access the conference call live on the Investor Relations page of Agilysys.com under the Events and Presentations headline. Approximately two hours after the call has concluded, an archived version of the webcast will be available for replay at the same location.
Forward-Looking Language
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the impact macroeconomic factors may have on the overall business environment, our ability to achieve our fiscal 2025 guidance, future revenue growth, the company's ability maintain sales levels, the Company's ability to integrate Book4Time and realize future synergies, and the risks described in the Company’s filings with the Securities and Exchange Commission, including the Company’s reports on Form 10-K and Form 10-Q. Additionally, references to "record" financial and business levels in this document refer only to the time period after Agilysys made the transformation to an entirely hospitality focused software solutions company in FY2014.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement that may be made from time to time, whether written or oral, whether as a result of new information, future developments or otherwise.
Use of Non-GAAP Financial Information
To supplement the unaudited consolidated financial statements presented in accordance with
The Company has included the following non-GAAP financial measures in this press release: adjusted net income, adjusted basic earnings per share and adjusted diluted earnings per share. The Company believes these non-GAAP financial measures provide valuable insight into the Company’s overall profitability from core operations before certain non-cash and non-recurring charges. The Company defines adjusted net income as net income before amortization expense (including amortization of developed technology), share-based compensation, other charges, and legal settlements, less the related income tax effect of these adjustments, as applicable, and tax events and defines adjusted earnings per share as adjusted net income divided by basic and diluted weighted average shares outstanding.
See the accompanying tables below for the definitions and reconciliation of these non-GAAP measures to the most closely related GAAP measures.
About Agilysys
Agilysys exclusively delivers state-of-the-art software solutions and services that help organizations achieve High Return Hospitality™ by maximizing Return on Experience (ROE) through interactions that make ‘personal’ profitable. Customers around the world use Agilysys Property Management Systems (PMS), Point-of-Sale (POS) solutions and Food & Beverage Inventory and Procurement (I&P) systems to consistently delight guests, retain staff and grow margins. Agilysys’
- Financial tables follow -
AGILYSYS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
|
||||||||||||||||
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
||||||||||
(In thousands, except per share data) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Products |
|
$ |
10,525 |
|
|
$ |
12,640 |
|
|
$ |
20,400 |
|
|
$ |
25,422 |
|
Subscription and maintenance |
|
|
41,432 |
|
|
|
34,248 |
|
|
$ |
79,474 |
|
|
$ |
66,373 |
|
Professional services |
|
|
16,322 |
|
|
|
11,728 |
|
|
$ |
31,917 |
|
|
$ |
22,881 |
|
Total net revenue |
|
|
68,279 |
|
|
|
58,616 |
|
|
|
131,791 |
|
|
|
114,676 |
|
Cost of goods sold: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Products |
|
|
5,206 |
|
|
|
6,751 |
|
|
|
10,432 |
|
|
|
13,317 |
|
Subscription and maintenance |
|
|
8,827 |
|
|
|
7,804 |
|
|
|
16,935 |
|
|
|
15,441 |
|
Professional services |
|
|
11,032 |
|
|
|
8,965 |
|
|
|
21,342 |
|
|
|
17,764 |
|
Total cost of goods sold |
|
|
25,065 |
|
|
|
23,520 |
|
|
|
48,709 |
|
|
|
46,522 |
|
Gross profit |
|
|
43,214 |
|
|
|
35,096 |
|
|
|
83,082 |
|
|
|
68,154 |
|
Gross profit margin |
|
|
63.3 |
% |
|
|
59.9 |
% |
|
|
63.0 |
% |
|
|
59.4 |
% |
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Product development |
|
|
16,172 |
|
|
|
14,583 |
|
|
|
30,892 |
|
|
|
27,904 |
|
Sales and marketing |
|
|
8,794 |
|
|
|
6,400 |
|
|
|
15,808 |
|
|
|
13,701 |
|
General and administrative |
|
|
10,162 |
|
|
|
8,785 |
|
|
|
20,645 |
|
|
|
18,150 |
|
Depreciation of fixed assets |
|
|
915 |
|
|
|
1,209 |
|
|
|
1,752 |
|
|
|
2,133 |
|
Amortization of internal-use software and intangibles |
|
|
904 |
|
|
|
347 |
|
|
|
1,155 |
|
|
|
776 |
|
Other charges, net |
|
|
2,037 |
|
|
|
210 |
|
|
|
2,587 |
|
|
|
969 |
|
Legal settlements |
|
|
104 |
|
|
|
— |
|
|
|
369 |
|
|
|
— |
|
Total operating expense |
|
|
39,088 |
|
|
|
31,534 |
|
|
|
73,208 |
|
|
|
63,633 |
|
Operating income |
|
|
4,126 |
|
|
|
3,562 |
|
|
|
9,874 |
|
|
|
4,521 |
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest income |
|
|
1,095 |
|
|
|
1,227 |
|
|
|
2,877 |
|
|
|
2,328 |
|
Interest expense |
|
|
(458 |
) |
|
|
— |
|
|
|
(458 |
) |
|
|
— |
|
Other income (expense), net |
|
|
383 |
|
|
|
51 |
|
|
|
226 |
|
|
|
(109 |
) |
Income before taxes |
|
|
5,146 |
|
|
|
4,840 |
|
|
|
12,519 |
|
|
|
6,740 |
|
Income tax (benefit) provision |
|
|
3,782 |
|
|
|
295 |
|
|
|
(2,951 |
) |
|
|
647 |
|
Net income |
|
$ |
1,364 |
|
|
$ |
4,545 |
|
|
$ |
15,470 |
|
|
$ |
6,093 |
|
Series A convertible preferred stock dividends |
|
|
— |
|
|
|
(459 |
) |
|
|
— |
|
|
|
(918 |
) |
Net income attributable to common shareholders |
|
$ |
1,364 |
|
|
$ |
4,086 |
|
|
$ |
15,470 |
|
|
$ |
5,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average shares outstanding - basic |
|
|
27,533 |
|
|
|
25,022 |
|
|
|
27,335 |
|
|
|
24,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income per share - basic: |
|
$ |
0.05 |
|
|
$ |
0.16 |
|
|
$ |
0.57 |
|
|
$ |
0.21 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average shares outstanding - diluted |
|
|
28,257 |
|
|
|
26,117 |
|
|
|
28,202 |
|
|
|
26,148 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income per share - diluted: |
|
$ |
0.05 |
|
|
$ |
0.16 |
|
|
$ |
0.55 |
|
|
$ |
0.20 |
|
AGILYSYS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS
|
||||||||
(In thousands, except share data) |
|
September 30,
|
|
March 31,
|
||||
ASSETS |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
54,888 |
|
|
$ |
144,891 |
|
Accounts receivable, net of allowance for expected credit losses
|
|
|
31,614 |
|
|
|
29,441 |
|
Contract assets |
|
|
4,537 |
|
|
|
2,287 |
|
Inventories |
|
|
6,446 |
|
|
|
4,587 |
|
Prepaid expenses and other current assets |
|
|
11,216 |
|
|
|
7,731 |
|
Total current assets |
|
|
108,701 |
|
|
|
188,937 |
|
Property and equipment, net |
|
|
17,538 |
|
|
|
17,930 |
|
Operating lease right-of-use assets |
|
|
18,120 |
|
|
|
18,384 |
|
Goodwill |
|
|
135,426 |
|
|
|
32,791 |
|
Intangible assets, net |
|
|
79,018 |
|
|
|
16,952 |
|
Deferred income taxes, non-current |
|
|
74,898 |
|
|
|
67,373 |
|
Other non-current assets |
|
|
8,309 |
|
|
|
8,063 |
|
Total assets |
|
$ |
442,010 |
|
|
$ |
350,430 |
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
12,746 |
|
|
$ |
9,422 |
|
Contract liabilities |
|
|
55,355 |
|
|
|
56,148 |
|
Accrued liabilities |
|
|
22,315 |
|
|
|
19,522 |
|
Operating lease liabilities, current |
|
|
5,473 |
|
|
|
4,279 |
|
Total current liabilities |
|
|
95,889 |
|
|
|
89,371 |
|
Deferred income taxes, non-current |
|
|
12,269 |
|
|
|
554 |
|
Operating lease liabilities, non-current |
|
|
18,662 |
|
|
|
19,613 |
|
Debt, non-current |
|
|
50,000 |
|
|
|
— |
|
Other non-current liabilities |
|
|
4,928 |
|
|
|
4,415 |
|
Commitments and contingencies |
|
|
|
|
|
|
||
Shareholders' equity: |
|
|
|
|
|
|
||
Common shares, without par value, at |
|
|
10,003 |
|
|
|
10,003 |
|
Treasury shares, 5,402,284 and 5,965,426 at September 30, 2024
|
|
|
(1,622 |
) |
|
|
(1,791 |
) |
Capital in excess of stated value |
|
|
102,275 |
|
|
|
94,680 |
|
Retained earnings |
|
|
153,225 |
|
|
|
137,755 |
|
Accumulated other comprehensive loss |
|
|
(3,619 |
) |
|
|
(4,170 |
) |
Total shareholders' equity |
|
|
260,262 |
|
|
|
236,477 |
|
Total liabilities and shareholders' equity |
|
$ |
442,010 |
|
|
$ |
350,430 |
|
AGILYSYS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
|
||||||||
|
|
Six Months Ended |
|
|||||
|
|
September 30, |
|
|||||
(In thousands) |
|
2024 |
|
|
2023 |
|
||
|
|
|
|
|
|
|
||
Operating activities |
|
|
|
|
|
|
||
Net income |
|
$ |
15,470 |
|
|
$ |
6,093 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
||
Loss on asset disposals |
|
|
21 |
|
|
|
— |
|
Depreciation of fixed assets |
|
|
1,752 |
|
|
|
2,133 |
|
Amortization of internal-use software and intangibles |
|
|
1,155 |
|
|
|
776 |
|
Deferred income taxes |
|
|
(7,634 |
) |
|
|
(389 |
) |
Share-based compensation |
|
|
8,438 |
|
|
|
5,851 |
|
Changes in operating assets and liabilities |
|
|
(11,514 |
) |
|
|
(8,994 |
) |
Net cash provided by operating activities |
|
|
7,688 |
|
|
|
5,470 |
|
Investing activities |
|
|
|
|
|
|
||
Cash paid for business combination, net of cash acquired |
|
|
(144,945 |
) |
|
|
— |
|
Capital expenditures |
|
|
(1,520 |
) |
|
|
(6,002 |
) |
Additional investments in corporate-owned life insurance policies |
|
|
— |
|
|
|
(2 |
) |
Net cash used in investing activities |
|
|
(146,465 |
) |
|
|
(6,004 |
) |
Financing activities |
|
|
|
|
|
|
||
Payment of preferred stock dividends |
|
|
— |
|
|
|
(918 |
) |
Debt proceeds, net of issuance costs |
|
|
49,655 |
|
|
|
— |
|
Proceeds from Employee Stock Purchase Plan purchases |
|
|
453 |
|
|
|
— |
|
Repurchase of common shares to satisfy employee tax withholding |
|
|
(1,428 |
) |
|
|
(3,868 |
) |
Principal payments under long-term obligations |
|
|
— |
|
|
|
(2 |
) |
Net cash provided by (used in) financing activities |
|
|
48,680 |
|
|
|
(4,788 |
) |
Effect of exchange rate changes on cash |
|
|
94 |
|
|
|
(107 |
) |
Net decrease in cash and cash equivalents |
|
|
(90,003 |
) |
|
|
(5,429 |
) |
Cash and cash equivalents at beginning of period |
|
|
144,891 |
|
|
|
112,842 |
|
Cash and cash equivalents at end of period |
|
$ |
54,888 |
|
|
$ |
107,413 |
|
AGILYSYS, INC. RECONCILIATION OF NET INCOME TO EBITDA AND ADJUSTED EBITDA (UNAUDITED)
|
||||||||||||||||
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
September 30, |
|
|
September 30, |
|
||||||||||
(In thousands) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net income |
|
$ |
1,364 |
|
|
$ |
4,545 |
|
|
$ |
15,470 |
|
|
$ |
6,093 |
|
Income tax (benefit) provision |
|
|
3,782 |
|
|
|
295 |
|
|
|
(2,951 |
) |
|
|
647 |
|
Income before taxes |
|
|
5,146 |
|
|
|
4,840 |
|
|
|
12,519 |
|
|
|
6,740 |
|
Depreciation of fixed assets |
|
|
915 |
|
|
|
1,209 |
|
|
|
1,752 |
|
|
|
2,133 |
|
Amortization of internal-use software and intangibles |
|
|
904 |
|
|
|
347 |
|
|
|
1,155 |
|
|
|
776 |
|
Amortization of developed technology acquired |
|
|
99 |
|
|
|
41 |
|
|
|
138 |
|
|
|
81 |
|
Interest (income), net |
|
|
(637 |
) |
|
|
(1,227 |
) |
|
|
(2,419 |
) |
|
|
(2,328 |
) |
EBITDA (a) |
|
|
6,427 |
|
|
|
5,210 |
|
|
|
13,145 |
|
|
|
7,402 |
|
Share-based compensation |
|
|
4,009 |
|
|
|
2,684 |
|
|
|
8,438 |
|
|
|
5,851 |
|
Other charges, net |
|
|
2,037 |
|
|
|
210 |
|
|
|
2,587 |
|
|
|
969 |
|
Other non-operating (income) expense |
|
|
(383 |
) |
|
|
(51 |
) |
|
|
(226 |
) |
|
|
109 |
|
Legal settlements |
|
|
104 |
|
|
|
— |
|
|
|
369 |
|
|
|
— |
|
Adjusted EBITDA (b) |
|
$ |
12,194 |
|
|
$ |
8,053 |
|
|
$ |
24,313 |
|
|
$ |
14,331 |
|
(a) EBITDA, a non-GAAP financial measure, is defined as net income before income taxes, interest income (net of interest expense), depreciation and amortization (including amortization of developed technology)
|
(b) Adjusted EBITDA, a non-GAAP financial measure, is defined as net income before income taxes, interest income (net of interest expense), depreciation and amortization (including amortization of developed technology), and excluding charges relating to i) share-based compensation, ii) other (gains) and charges, net, iii) other non-operating expense (income), and iv) legal settlements |
AGILYSYS, INC. RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME FOR ADJUSTED EARNINGS PER SHARE (UNAUDITED)
|
||||||||||||||||
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
September 30, |
|
|
September 30, |
|
||||||||||
(In thousands, except per share data) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net income attributable to common shareholders |
|
$ |
1,364 |
|
|
$ |
4,086 |
|
|
$ |
15,470 |
|
|
$ |
5,175 |
|
Amortization of developed technology acquired |
|
|
99 |
|
|
|
41 |
|
|
|
138 |
|
|
|
81 |
|
Amortization of internal-use software and intangibles |
|
|
904 |
|
|
|
347 |
|
|
|
1,155 |
|
|
|
776 |
|
Share-based compensation |
|
|
4,009 |
|
|
|
2,684 |
|
|
|
8,438 |
|
|
|
5,851 |
|
Other charges, net |
|
|
2,037 |
|
|
|
210 |
|
|
|
2,587 |
|
|
|
969 |
|
Legal settlements |
|
|
104 |
|
|
|
— |
|
|
|
369 |
|
|
|
— |
|
Tax events (a) |
|
|
2,251 |
|
|
|
— |
|
|
|
(7,929 |
) |
|
|
— |
|
Income tax adjustments |
|
|
(1,220 |
) |
|
|
(742 |
) |
|
|
(2,368 |
) |
|
|
(1,620 |
) |
Adjusted net income (b) |
|
$ |
9,548 |
|
|
$ |
6,626 |
|
|
$ |
17,860 |
|
|
$ |
11,232 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic weighted average shares outstanding |
|
|
27,533 |
|
|
|
25,022 |
|
|
|
27,335 |
|
|
|
24,979 |
|
Diluted weighted average shares outstanding |
|
|
28,257 |
|
|
|
26,117 |
|
|
|
28,202 |
|
|
|
26,148 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted basic earnings per share (c) |
|
$ |
0.35 |
|
|
$ |
0.26 |
|
|
$ |
0.65 |
|
|
$ |
0.45 |
|
Adjusted diluted earnings per share (c) |
|
$ |
0.34 |
|
|
$ |
0.25 |
|
|
$ |
0.63 |
|
|
$ |
0.43 |
|
(a) Tax events include excess tax benefits or expense related to share-based compensation, release of valuation allowances against deferred income taxes, and changes in uncertain tax positions
|
(b) Adjusted net income, a non-GAAP financial measure, is defined as net income attributable to common shareholders before amortization expense (including amortization of developed technology), share-based compensation, other (gains) and charges, net, and legal settlements, less the related income tax effect of these adjustments, as applicable, at the Company’s current combined federal and state income statutory tax rate and, as defined under (a) above, tax events
|
(c) Adjusted earnings per share, a non-GAAP financial measure, is defined as adjusted net income divided by basic and diluted weighted average shares outstanding |
AGILYSYS, INC. RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (UNAUDITED)
|
||||||||||||||||
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
September 30, |
|
|
September 30, |
|
||||||||||
(In thousands) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net cash provided by operating activities |
|
$ |
6,590 |
|
|
$ |
5,448 |
|
|
$ |
7,688 |
|
|
$ |
5,470 |
|
Capital expenditures |
|
|
(651 |
) |
|
|
(2,937 |
) |
|
|
(1,520 |
) |
|
|
(6,002 |
) |
Free cash flow (a) |
|
$ |
5,939 |
|
|
$ |
2,511 |
|
|
$ |
6,168 |
|
|
$ |
(532 |
) |
(a) Free cash flow, a non-GAAP financial measure, is defined as net cash provided by operating activities, less capital expenditures |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241028178512/en/
Investor Contact:
Jessica Hennessy
Senior Director Corporate Strategy & Investor Relations
Agilysys, Inc.
770-810-6116 or investorrelations@agilysys.com
Source: Agilysys, Inc.
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