Business
Agilysys Fiscal 2022 Fourth Quarter Revenue Rises 28.1% to Record $46.6M
Quarter Recurring Revenue of $26.6M Inclusive of Subscription Revenue Growth of 32.8% Quarter Positive Adjusted EBITDA of $7.5M, Free Cash Flow of $6.5M &
About this update from Agilysys, Inc.
[{"type":"text","content":"\nQuarter Recurring Revenue of $26.6M Inclusive of Subscription Revenue Growth of 32.8%\n\nQuarter Positive Adjusted EBITDA of $7.5M, Free Cash Flow of $6.5M & Fiscal 2022 Full Year GAAP Net Income of $4.6M\n\nExpects Fiscal 2022 Record Revenue of $162.6M to Grow to $190M to $195M in Fiscal 2023\n\n ALPHARETTA, Ga.--(BUSINESS WIRE)--\nAgilysys, Inc. (NASDAQ: AGYS), a global provider of next-generation hospitality software solutions and services, today reported operating results for its fiscal 2022 fourth quarter and period ended March 31, 2022.\n\nSummary of Fiscal 2022 Fourth Quarter Financial Results\n\n\nTotal net revenue was $46.6 million, compared to total net revenue of $36.3 million and $39.7 million in the fourth quarters of fiscal 2021 and 2020, respectively.\n\n\nRecurring revenue (which is comprised of support, maintenance and subscription services) was $26.6 million, or 57.1% of total net revenue compared to $22.9 million, or 63.1% of total net revenue and $22.3 million or 56.2% of total net revenue for the fourth quarters of fiscal 2021 and 2020, respectively. Subscription revenues increased 32.8% over fiscal 2021 fourth quarter compared to an increase of 11.6% fiscal 2021 over fiscal 2020 fourth quarter. Subscription revenue comprised 48.1% of total recurring revenues compared to 42.0% and 38.7% for the fourth quarters of fiscal 2021 and 2020, respectively.\n\n\nGross margin was 59.5% compared to 64.6% and 49.6% in the fourth quarters of fiscal 2021 and 2020, respectively.\n\n\nNet income attributable to common shareholders in the fiscal 2022 fourth quarter was $1.5 million, or $0.06 per diluted share compared to a net loss of $(24.7) million, or $(1.05) per diluted share and net loss of $(27.0) million or $(1.16) per diluted share for the fourth quarters of fiscal 2021 and 2020, respectively.\n\n\nAdjusted EBITDA (non-GAAP) was $7.5 million, compared to $7.1 million and $3.6 million in the fourth quarters of fiscal 2021 and 2020 respectively (please see reconciliation below).\n\n\nAdjusted diluted EPS (non-GAAP) was $0.24 per share compared to $0.21 and $0.05 per share in the fourth quarters of fiscal 2021 and 2020 respectively (please see reconciliation below).\n\n\nFree cash flow (non-GAAP) in the fiscal 2022 fourth quarter was $6.5 million compared to $13.0 million and $4.9 million in the fiscal fourth quarters...