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Agilysys(AGYS) - 2025 Q2 - Quarterly Results
AGYSAgilysys(AGYS)2024-10-28 20:05

Financial Performance - Total net revenue for Q2 fiscal 2025 reached a record 68.3million,a16.568.3 million, a 16.5% increase from 58.6 million in the same period last year[3]. - Recurring revenue was a record 41.4million,accountingfor60.741.4 million, accounting for 60.7% of total net revenue, with subscription revenue growing 36.6% year over year[3]. - Gross margin improved to 63.3% in Q2 fiscal 2025, up from 59.9% in the prior year[3]. - Net income attributable to common shareholders was 1.4 million, or 0.05perdilutedshare,comparedto0.05 per diluted share, compared to 4.1 million, or 0.16perdilutedshare,inthesamequarterlastyear[3].−AdjustedEBITDAforQ2fiscal2025was0.16 per diluted share, in the same quarter last year[3]. - Adjusted EBITDA for Q2 fiscal 2025 was 12.2 million, representing 17.9% of revenue, compared to 8.1millionintheprioryear[3][4].−TotalnetrevenueforthethreemonthsendedSeptember30,2024,was8.1 million in the prior year[3][4]. - Total net revenue for the three months ended September 30, 2024, was 68,279,000, an increase of 16.5% compared to 58,616,000forthesameperiodin2023[18].−Subscriptionandmaintenancerevenueroseto58,616,000 for the same period in 2023[18]. - Subscription and maintenance revenue rose to 41,432,000, up 21% from 34,248,000year−over−year[18].−Operatingincomeincreasedto34,248,000 year-over-year[18]. - Operating income increased to 4,126,000, reflecting a 15.8% rise from 3,562,000intheprioryear[18].−NetincomeforthesixmonthsendedSeptember30,2024,was3,562,000 in the prior year[18]. - Net income for the six months ended September 30, 2024, was 15,470,000, significantly higher than 6,093,000forthesameperiodin2023[20].−NetincomeforthethreemonthsendedSeptember2024was6,093,000 for the same period in 2023[20]. - Net income for the three months ended September 2024 was 1,364,000, a decrease of 66.6% compared to 4,086,000forthesameperiodin2023[22].−AdjustednetincomeforthesixmonthsendedSeptember2024was4,086,000 for the same period in 2023[22]. - Adjusted net income for the six months ended September 2024 was 17,860,000, a 59.5% increase from 11,232,000forthesameperiodin2023[22].CashFlowandBalanceSheet−FreecashflowforQ2fiscal2025was11,232,000 for the same period in 2023[22]. Cash Flow and Balance Sheet - Free cash flow for Q2 fiscal 2025 was 5.9 million, up from 2.5millioninthesamequarterlastyear[3].−Endingcashbalancewas2.5 million in the same quarter last year[3]. - Ending cash balance was 54.9 million, down from 144.9millionattheendoffiscal2024,influencedbythecashpaidfortheBook4Timeacquisition[3].−Cashandcashequivalentsdecreasedto144.9 million at the end of fiscal 2024, influenced by the cash paid for the Book4Time acquisition[3]. - Cash and cash equivalents decreased to 54,888,000 as of September 30, 2024, down from 144,891,000atthebeginningoftheperiod[19].−Thecompanyreportedanetcashprovidedbyoperatingactivitiesof144,891,000 at the beginning of the period[19]. - The company reported a net cash provided by operating activities of 7,688,000 for the six months ended September 30, 2024, compared to 5,470,000intheprioryear[20].−Thecompanyincurred5,470,000 in the prior year[20]. - The company incurred 144,945,000 in cash paid for business combinations during the six months ended September 30, 2024[20]. Guidance and Future Outlook - The company raised its full-year fiscal 2025 revenue guidance to 280millionto280 million to 285 million, with at least 38% year-over-year subscription revenue growth expected[5][6]. - The acquisition of Book4Time is anticipated to expand the customer base and enhance the company's product ecosystem within the hospitality sector[7]. Expenses and Shareholder Metrics - Total operating expenses for the three months ended September 30, 2024, were 39,088,000,upfrom39,088,000, up from 31,534,000 in the same period last year[18]. - Share-based compensation expenses increased to 4,009,000forthethreemonthsendedSeptember2024,upfrom4,009,000 for the three months ended September 2024, up from 2,684,000 in the same period last year, reflecting a 49.3% rise[22]. - Basic weighted average shares outstanding increased to 27,533,000 for the three months ended September 2024, compared to 25,022,000 for the same period in 2023[22]. Earnings Per Share - Adjusted diluted EPS for Q2 fiscal 2025 was 0.34pershare,comparedto0.34 per share, compared to 0.25 per share in the same quarter last year[3]. - Adjusted diluted earnings per share for the three months ended September 2024 was 0.34,upfrom0.34, up from 0.25 in the same period last year, reflecting a 36% increase[22].