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Agilysys, Inc. (NASDAQ: AGYS) is a premier developer and marketer of innovative enterprise software, services, and solutions specifically tailored for the hospitality industry. The company excels in creating market-leading solutions including point-of-sale (POS), property management systems (PMS), inventory and procurement, workforce management, and mobile & wireless solutions. These offerings are designed to streamline operations, enhance efficiency, and significantly elevate the guest experience. Serving a diverse clientele such as casinos, resorts, hotels, foodservice venues, stadiums, and cruise lines, Agilysys operates extensively across North America, Europe, and Asia.
Headquartered in Alpharetta, GA, with APAC offices in Singapore, Hong Kong, and Malaysia, Agilysys is dedicated to providing high return hospitality through both cloud-native SaaS and on-premise solutions. The company's customer base includes branded and independent hotels, multi-amenity resorts, casinos, cruise lines, corporate dining providers, universities, stadiums, and healthcare facilities.
Agilysys is committed to innovation and customer-centric service, continuously evolving its offerings to meet industry demands. Recent milestones include providing on-site premier support for the InfoGenesis POS system at the 2024 Australian Open, ensuring exceptional food and beverage experiences for over 900,000 attendees. Financially, Agilysys reported a strong fiscal 2024 with total net revenue increasing 21.3% to a record $60.6 million, driven by significant subscription revenue growth and improved services efficiency. The company anticipates continued growth in fiscal 2025, projecting revenues between $275 million and $280 million with a focus on subscription revenue growth and adjusted EBITDA of 16%.
For more information, visit www.agilysys.com and follow Agilysys on Twitter at @agilysys.
Agilysys (NASDAQ: AGYS) announced a significant partnership with the Mohegan INSPIRE Entertainment Resort in South Korea. This collaboration marks the deployment of Agilysys' hospitality software on a single cloud-based platform at what will be the largest resort entertainment complex in the country. The $5 billion resort will feature multiple amenities including a luxury hotel with over 1,300 rooms, a large retail space, and a 20,000 square meter casino. This deal strengthens Agilysys' position in the Asia-Pacific region.
Agilysys reported record revenue of $47.7 million for fiscal 2023 Q2, a 26% increase from $37.9 million in the prior year. Recurring revenue reached $29 million, making up 60.8% of total revenue, with subscription revenue growth of 28.6%. Net income was $3.1 million or $0.12 per share, up from $0.5 million or $0.02 per share year-over-year. Adjusted EBITDA improved to $7.4 million, while free cash flow decreased to $2.3 million. The company reiterated its FY23 revenue guidance of $190 million to $195 million, with strong expectations for the second half of the fiscal year.
Agilysys, a global hospitality software solutions provider, will participate in the Hospitality Network Stakeholders Conference from October 18-20 in Dubai, UAE. The event aims to foster discussions on significant technology trends in hospitality. Attendees can engage with Agilysys in one-on-one meetings, exploring their comprehensive solutions that enhance guest experiences. The conference will feature over 150 stakeholders and industry experts, focusing on innovation and upcoming projects in hospitality. Agilysys emphasizes the importance of technology in delivering a world-class guest experience.
Agilysys, Inc. (AGYS) will release its fiscal 2023 second quarter results on October 25, 2022, after market close. A conference call and webcast are scheduled for 4:30 p.m. ET, open to the public. Participants must register to receive dial-in instructions. Agilysys is known for its hospitality software solutions aimed at maximizing Return on Experience (ROE) for various sectors, including hotels, casinos, and hospitals. The company's flagship offering, the Agilysys Hospitality Cloud™, integrates core operational systems with Experience Enhancers™ to improve guest interactions.
Agilysys (AGYS) has recently been recognized with three prestigious awards in the gaming sector, underscoring its leadership in hospitality software solutions. The awards highlight the effectiveness of its IG OnDemand mobile ordering and payment system, which enhances guest experiences and operational efficiency. These accolades include the Gaming & Leisure Partner Award, the Gaming & Leisure Transportation Award, and a Silver Award from Global Gaming Business magazine. Agilysys continues to demonstrate its commitment to improving guest satisfaction and driving revenue for hospitality businesses.
Agilysys has partnered with Morongo Casino Resort and Spa to implement self-service kiosk technology for dining. This innovation allows guests to make dining reservations and payments at any time, addressing staffing shortages and enhancing guest experiences. With this technology, Morongo has reported an increase in food and beverage revenue by improving service efficiency and decreasing wait times. Moreover, the integration of data analytics enables better understanding of guest spending patterns, further optimizing revenue opportunities for the casino.
Agilysys is set to showcase innovative technology solutions for the hospitality industry during the Global Gaming Expo (G2E) on October 11. This follows the gaming sector's forecasted revenue increase to
Agilysys has been shortlisted for three categories at the UK Business Tech Awards 2022, highlighting its role in hospitality technology. The categories include Property Tech of the Year, SaaS Company of the Year, and Tech Company of the Year for medium-sized firms. This recognition underscores the significance of hospitality technology in the UK's tech landscape. With travel returning, Agilysys aims to enhance guest experiences through its comprehensive Agilysys Hospitality Cloud, providing tailored solutions for hospitality operators.
Agilysys announces the implementation of eight solutions to enhance the Return on Experience across various operations, including casinos and hotels. Amid staff shortages, 97% of hotel properties report challenges, with 90% now offering wage incentives. Notably, Prairie Meadows Casino is leveraging Agilysys solutions to streamline processes and improve guest satisfaction driven by a community-focused business model. The deployment of core solutions like property management and point-of-sale systems aims to elevate operational efficiencies and guest experiences.
Agilysys reported strong financial results for Q1 Fiscal 2023, with total net revenue rising 22.7% to $47.5 million. Recurring revenue reached a record $27.7 million, making up 58.4% of total revenue. Subscription revenue surged 29.5% year-over-year. The company achieved a net income of $2.6 million, or $0.10 per diluted share. Adjusted EBITDA was $6.7 million, slightly down from $6.9 million the previous year. Fiscal 2023 guidance remains at $190 million to $195 million revenue, targeting over 15% adjusted EBITDA.
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