Agilysys Inc. Files 2024 Annual Report

Ticker: AGYS · Form: 10-K · Filed: May 22, 2024 · CIK: 78749

Agilysys Inc 10-K Filing Summary
FieldDetail
CompanyAgilysys Inc (AGYS)
Form Type10-K
Filed DateMay 22, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

AGYS 10-K filed: Full year financials and biz ops details out. Check it.

AI Summary

Agilysys Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its financial performance and business operations. The company, headquartered in Alpharetta, GA, is involved in computer-integrated systems design. Key financial data and operational details for the period are disclosed in this comprehensive filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Agilysys's financial health, strategic initiatives, and risk factors for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard disclosures for a public company, including business operations, financial statements, and risk factors, which are typical for a medium-risk profile.

Key Numbers

  • 20240331 — Fiscal Year End (The end date of the reporting period for the 10-K.)
  • 20240522 — Filing Date (The date the 10-K was officially submitted to the SEC.)
  • 0000078749 — Central Index Key (CIK) (Unique identifier for Agilysys Inc. in SEC filings.)

Key Players & Entities

  • AGILYSYS INC (company) — Filer of the 10-K report
  • 20240331 (date) — Fiscal year end date for the report
  • 20240522 (date) — Filing date of the report
  • Alpharetta, GA (location) — Company headquarters location
  • PIONEER STANDARD ELECTRONICS INC (company) — Former company name

FAQ

What is the primary business of Agilysys Inc. as described in the 10-K?

Agilysys Inc. is primarily involved in Services-Computer Integrated Systems Design, as indicated by its SIC code [7373].

When did Agilysys Inc. change its name from PIONEER STANDARD ELECTRONICS INC?

The company changed its name from PIONEER STANDARD ELECTRONICS INC on 19920703.

What is the fiscal year end date for Agilysys Inc. in this filing?

The fiscal year end date for Agilysys Inc. in this 10-K filing is 0331.

Where is Agilysys Inc. headquartered?

Agilysys Inc. is headquartered in Alpharetta, GA, with its business address at 3655 BROOKSIDE PARKWAY, SUITE 300.

What is the SEC Act under which this 10-K is filed?

This 10-K filing is made under the 1934 Act.

Filing Stats: 4,380 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2024-05-21 19:33:14

Filing Documents

Business

Business 4 ITEM 1A.

Risk Factors

Risk Factors 14 ITEM 1B. Unresolved Staff Comments 24 ITEM 1C. Cybersecurity 24 ITEM 2.

Properties

Properties 25 ITEM 3.

Legal Proceedings

Legal Proceedings 25 ITEM 4. Mine Safety Disclosures 25 ITEM 4A. Information About Our Executive Officers 26 PART II 27 ITEM 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 27 ITEM 6. [Reserved] 28 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 ITEM 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 40 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 68 ITEM 9A.

Controls and Procedures

Controls and Procedures 68 ITEM 9B. Other Information 68 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 69 PART III 70 ITEM 10. Directors, Executive Officers and Corporate Governance 70 ITEM 11.

Executive Compensation

Executive Compensation 70 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 70 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 70 ITEM 14. Principal Accountant Fees and Services 70 PART IV 71 ITEM 15. Exhibits and Financial Statement Schedules 71

SIGNATURES

SIGNATURES 74 2 Forward Looking Information This Annual Report and other publicly available documents, including the documents incorporated herein and therein by reference, contain, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to our current expectations, the performance of our business, our financial results, our liquidity and capital resources and other non-historical statements. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, and in many cases, are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, our ability to achieve operational efficiencies and meet customer demand for products and services as well as the other risks identified in the risk factors set forth in Item 1A of this Annual Report. Any forwa

B usiness

Item 1. B usiness. Overview Agilysys has been a leader in hospitality software for more than 45 years, delivering innovative cloud-native SaaS and on-premise solutions for hotels, resorts and cruise lines, casinos, corporate foodservice management, restaurants, universities, stadiums, and healthcare. The Company's software solutions include point-of-sale (POS), property management (PMS), inventory and procurement, payments, and related applications that manage and enhance the entire guest journey. Agilysys also is known for its world-class customer-centric service. Many of the top hospitality companies around the world use Agilysys solutions to improve guest loyalty, drive revenue growth, and increase operational efficiencies. Agilysys operates across North America, Europe, the Middle East, Asia-Pacific, and India, with headquarters in Alpharetta, GA. The Company has just one reportable segment serving the global hospitality industry. Our principal executive offices are located at 3655 Brookside Parkway, Suite 300, Alpharetta, Georgia, 30022. Reference herein to any particular year or quarter refers to periods within our fiscal year ended March 31. For example, fiscal 2024 refers to the fiscal year ended March 31, 2024. History and Significant Events Organized in 1963 as Pioneer-Standard Electronics, Inc., an Ohio corporation, we began operations as a distributor of electronic components and, later, enterprise computer solutions. Exiting the former business in fiscal 2003 with the sale of our Industrial Electronic Division, we used the proceeds to reduce debt and fund growth of our enterprise solutions business. This included acquiring businesses focused on higher-margin and more specialized solutions for the hospitality and retail industries. At the same time, we changed our name to Agilysys, Inc. In fiscal 2004, we acquired Inter-American Data, Inc., which allowed us to become the leading developer and provider of technology solutions for hotel pro

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