Agilysys(US:AGYS)2025-05-19 20:11Revenue Growth - Fiscal 2025 fourth quarter total net revenue increased 19.4% to a record $74.3 million compared to $62.2 million in the prior-year period[4] - Fiscal 2025 full year total net revenue increased 16.1% to a record $275.6 million compared to $237.5 million in the prior-year period[4] - Total net revenue for the three months ended March 31, 2025, was $74,272,000, an increase of 19.4% compared to $62,221,000 for the same period in 2024[22] Recurring Revenue - Recurring revenue reached a record $46.2 million, accounting for 62.2% of total net revenue, with subscription revenue growing 42.7% year-over-year[4] - Full year recurring revenue was $170.1 million, or 61.7% of total net revenue, with subscription revenue increasing 39.5% year-over-year[4] - Subscription and maintenance revenue grew to $46,198,000, up 26.3% from $36,588,000 year-over-year[22] Profitability - Adjusted EBITDA for fiscal 2025 was a record $53.8 million, compared to $37.1 million in the prior-year period[4] - Operating income for the year ended March 31, 2025, increased to $22,591,000, a 43.5% rise from $15,753,000 in 2024[22] - The company reported an adjusted EBITDA of $53,839,000 for the year ended March 31, 2025, up from $37,069,000 in 2024[27] Net Income - Net income attributable to common shareholders for fiscal 2025 was $23.2 million, or $0.82 per diluted share, down from $85.0 million, or $3.17 per diluted share, in the prior-year period[4] - Net income attributable to common shareholders for the year ended March 31, 2025, was $23,225,000, down from $84,991,000 in 2024 due to a one-time tax benefit in the previous year[22] - Net income attributable to common shareholders for Q1 2025 was $3,925,000, compared to $2,961,000 in Q1 2024, representing a year-over-year increase of 32.4%[28] Cash Flow - Free cash flow for fiscal 2025 was $52.3 million, compared to $40.1 million in fiscal 2024[4] - Free cash flow for Q1 2025 was $26,451,000, slightly down from $29,338,000 in Q1 2024, indicating a decrease of 6.0%[29] - Net cash provided by operating activities for the twelve months ended March 31, 2025, was $55,128,000, an increase from $48,186,000 in the previous year, showing a growth of 14.4%[29] Expenses and Investments - Total operating expenses for the year ended March 31, 2025, were $149,397,000, compared to $128,503,000 in 2024, reflecting increased investment in product development and sales[22] - The company incurred $145,756,000 in cash paid for business combinations during the year ended March 31, 2025[26] Future Outlook - The company expects fiscal 2026 revenue to be between $308 million and $312 million, with 25% subscription revenue growth[8][9] Shareholder Information - The basic weighted average shares outstanding for Q1 2025 were 27,740,000, up from 26,913,000 in Q1 2024, indicating a growth of 3.1%[28] - Adjusted diluted earnings per share for Q1 2025 was $0.54, compared to $0.32 in Q1 2024, marking an increase of 68.8%[28] Asset Management - Cash and cash equivalents decreased to $73,041,000 as of March 31, 2025, from $144,891,000 a year earlier[24] - Total assets increased to $434,370,000 as of March 31, 2025, compared to $350,430,000 in 2024[24] Compensation and Tax Management - The company reported a significant increase in share-based compensation, totaling $5,121,000 in Q1 2025, compared to $4,622,000 in Q1 2024, which is an increase of 10.8%[28] - Tax events resulted in a net tax benefit of $4,296,000 in Q1 2025, compared to a benefit of $577,000 in Q1 2024, indicating a significant improvement in tax management[28]