Business
Agilysys Announces Fiscal 2024 Fourth Quarter Record Revenue of $62.2M and Full Year Record Revenue of $237.5M
Annual Revenue Includes Recurring Revenue of $138.1M and Subscription Revenue Growth of 29.6% Annual Record Adjusted EBITDA of $37.1M and Free Cash Flow of
About this update from Agilysys, Inc.
[{"type":"text","content":"\nAnnual Revenue Includes Recurring Revenue of $138.1M and Subscription Revenue Growth of 29.6%\n\n\nAnnual Record Adjusted EBITDA of $37.1M and Free Cash Flow of $40.1M\n\n\nAnnual Revenue Expected To Grow To $275M to $280M In Fiscal 2025 With Full Year Adjusted EBITDA of 16%\n\n\n ALPHARETTA, Ga.--(BUSINESS WIRE)--\nAgilysys, Inc. (NASDAQ: AGYS), a leading global provider of hospitality software solutions that deliver High Return Hospitality, today reported results for its fiscal 2024 fourth quarter and full year ending March 31, 2024.\n\n\nSummary of Fiscal 2024 Fourth Quarter Financial Results\n\n\n\nTotal net revenue increased 17.6% to a record $62.2 million compared to total net revenue of $52.9 million in the comparable prior-year period.\n\n\n\nRecurring revenue (comprised of subscription and maintenance charges) was a record $36.6 million, or 58.8% of total net revenue, compared to $31.4 million, or 59.3% of total net revenue for the same period in fiscal 2023. Subscription revenue increased 31.6% year over year and was 57.0% of total recurring revenue compared to 50.6% of total recurring revenue in the fourth quarter of fiscal 2023.\n\n\n\nGross margin was 61.5% in the fiscal 2024 fourth quarter compared to 60.8% in the comparable prior-year period.\n\n\n\nNet income attributable to common shareholders in the fiscal 2024 fourth quarter was $3.0 million, or $0.11 per diluted share, compared to $3.6 million, or $0.14 per diluted share, in the comparable prior-year period.\n\n\n\nAdjusted EBITDA (non-GAAP) was $11.0 million compared to $8.1 million in the comparable prior-year period (reconciliation included in financial tables).\n\n\n\nAdjusted diluted EPS (non-GAAP) was $0.32 per share in the fiscal 2024 fourth quarter compared to $0.26 per share in the comparable prior-year period (reconciliation included in financial tables).\n\n\n\nFree cash flow (non-GAAP) in the fiscal 2024 fourth quarter was $29.3 million compared to free cash flow of $13.2 million in the fiscal 2023 fourth quarter (reconciliation included in financial tables). Ending cash balance was $144.9 million compared to ending cash balance of $112.8 million as of fiscal 2023 year-end.\n\n\n\nSummary of Full Fiscal Year 2024 Financial Results\n\n\n\nTotal net revenue increased 19.9% to a record $237.5 million compared to total net revenue of $198.1 million ...