Agilysys, Inc. - AGYS STOCK NEWS

Agilysys (AGYS) reported record recurring revenue of $25.1M for Q3 fiscal 2022, driven by a 25% year-over-year subscription revenue increase to $11.7M. Total net revenue reached $39.5M, up from $36.7M in Q3 fiscal 2021. The company achieved a positive GAAP EPS of $0.04 and a free cash flow of $9.9M. Although gross margin decreased to 62.6%, Agilysys expects record revenue in Q4 and maintains full-year guidance at the low end. The recent acquisition of ResortSuite is progressing favorably amid ongoing supply chain challenges.

Agilysys, Inc. (AGYS) will announce its fiscal 2022 third quarter results on January 25, 2022, after market close. A conference call and webcast will follow at 4:30 p.m. ET, accessible to the public. The call can be joined by dialing 224-357-2393 with conference ID 1964765. Agilysys, a leader in hospitality software for over 40 years, provides cloud-native and on-premise solutions aimed at enhancing guest experiences across various sectors, including gaming and healthcare. The company continues to invest in R&D to modernize its software offerings.

Agilysys (NASDAQ: AGYS) announced an agreement to acquire ResortSuite for approximately 25 million USD in cash, expected to close in January 2022. This acquisition enhances Agilysys’ market presence in the hotel property management sector and aims to provide next-generation SaaS solutions to ResortSuite’s customers. The collaboration is set to deliver integrated hotel management systems and contactless technology to the hospitality industry, benefiting from both companies' expertise and shared commitment to improving guest experiences.

Agilysys, Inc. has appointed Ellis Connolly as the new vice president of sales targeting hotel, resort, and cruise development. With over 20 years in the industry, Connolly's extensive background includes key roles at companies such as Sabre Corporation and Zingle. This strategic hiring aims to bolster Agilysys' growth in the global hospitality sector. The SVP of Sales and Marketing expressed confidence in Connolly's ability to enhance team effectiveness and drive business expansion.

Agilysys, Inc. (Nasdaq: AGYS) will host its annual user conference, Inspire 2022, from February 28 to March 2 in Las Vegas. The event, held at Green Valley Ranch Casino Resort, includes three days of educational programming, hands-on training, and networking opportunities. The conference opens with a golf tournament on February 27 and features keynote speaker Jared Isaacman, who led the first all-civilian spaceflight, Inspiration4. Attendees will have access to various educational sessions to enhance their skills.

Agilysys, Inc. (Nasdaq: AGYS) has partnered with Brittain Resorts and Hotels in Myrtle Beach, SC, to implement its cloud-native SaaS PMS solution, Agilysys Stay, along with rGuest Service and Owners Accounting across 10 properties with over 3,400 rooms. This collaboration aims to enhance guest experiences through improved accessibility and operational efficiency. Agilysys Stay is designed to drive guest loyalty and revenue while optimizing operations. The partnership reflects Agilysys' ongoing commitment to providing innovative technology solutions in the hospitality sector.

Agilysys, Inc. (AGYS) has announced the selection of its InfoGenesis POS solution by Barons Eden Hotel and Spa Collection in the UK for their Hoar Cross Hall and Eden Hall properties. The integrated solution aims to streamline operations, enhance system reliability, and improve staff training. With features like mobile tablet ordering, the InfoGenesis POS is expected to enhance guest experience and drive revenue growth. The deployment is part of Agilysys' commitment to modernizing hospitality software solutions and supporting customer needs through open APIs and modular software.

Agilysys, Inc. (Nasdaq: AGYS) reported impressive fiscal 2022 Q2 results, with total net revenue of $37.9 million, up from $34.4 million year-over-year. Recurring revenue hit a record $24.0 million, representing 63.4% of total revenue. Subscription revenue surged 21.7%, reaching $11.1 million. Adjusted EBITDA was $6.3 million, while net income stood at $0.5 million or $0.02 per share. The company maintains its fiscal 2022 revenue guidance of $160 to $170 million.

Agilysys, Inc. (AGYS) announced that it will release its fiscal 2022 second quarter results on October 26, 2021, after market close. Following this, a conference call and webcast will be held at 4:30 p.m. ET to discuss the results, open to the public. Interested parties can join by calling 224-357-2393 or via a live webcast at Agilysys Investor Relations. Agilysys is a provider of cloud-native SaaS and on-premise solutions for the hospitality sector.