Agilysys Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Agilysys Inc. filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing financial information and business operations.</b>

AI Summary

AGILYSYS INC (AGYS) filed a Quarterly Report (10-Q) with the SEC on January 25, 2024. Agilysys Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the fiscal quarter ending December 31, 2023. The company's fiscal year ends on March 31. Agilysys Inc. was formerly known as Pioneer Standard Electronics Inc. The filing includes data related to various financial accounts and stock plans.

Why It Matters

For investors and stakeholders tracking AGILYSYS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational status of Agilysys Inc. for the third quarter of its fiscal year. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — AGILYSYS INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or significant events that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and profitability drivers for Agilysys Inc.

Key Numbers

• 20231231 — Report Period End Date (Conformed period of report)
• 20240125 — Filing Date (Filed as of date)
• 0331 — Fiscal Year End (Fiscal year end)
• 19920703 — Date of Name Change (Date of name change from Pioneer Standard Electronics Inc.)

Key Players & Entities

• AGILYSYS INC (company) — Filer name
• PIONEER STANDARD ELECTRONICS INC (company) — Former company name
• DE (location) — State of incorporation
• ALPHARETTA (location) — Business address city
• GA (location) — Business address state
• 7708107800 (phone) — Business phone number
• 0000078749 (company) — Central Index Key
• 7373 (industry) — Standard Industrial Classification

Forward-Looking Statements

• Agilysys will continue to rely heavily on its 'Support, Maintenance, Subscription Services And Professional Services' for revenue growth in the next fiscal year. (AGILYSYS INC) — high confidence, target: 2025-03-31
• The '2016 Stock Incentive Plan' will likely result in further share-based compensation expenses in upcoming quarters. (AGILYSYS INC) — medium confidence, target: 2024-09-30

FAQ

Industry Context

Agilysys Inc. operates in the Services-Computer Integrated Systems Design industry (SIC 7373). This sector involves designing and integrating computer systems for clients.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators for the quarter ended December 31, 2023.
2. Examine any disclosures related to business operations, risks, or legal matters mentioned in the filing.
3. Compare the current quarter's performance with historical data to identify trends and assess the company's trajectory.

Key Dates

• 2023-12-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-01-25: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2023-03-31: Fiscal Year End — Indicates the end of Agilysys Inc.'s fiscal year.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year ending March 31, 2024, providing updated financial information compared to previous filings.

Filing Documents

• agys-20231231.htm (10-Q) — 1825KB
• agys-ex10_1.htm (EX-10.1) — 31KB
• agys-ex31_1.htm (EX-31.1) — 10KB
• agys-ex31_2.htm (EX-31.2) — 10KB
• agys-ex31_3.htm (EX-31.3) — 10KB
• agys-ex32.htm (EX-32) — 14KB
• 0000950170-24-007518.txt (&nbsp;) — 5915KB
• agys-20231231.xsd (EX-101.SCH) — 793KB
• agys-20231231_htm.xml (XML) — 841KB

Financial Information

Part I. Financial Information Item 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets &#x2013; December 31, 2023 (Unaudited) and March 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) &#x2013; Three and Nine Months Ended December 31, 2023 and December 31, 2022 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) &#x2013; Three and Nine Months Ended December 31, 2023 and December 31, 2022 5 Condensed Consolidated Statements of Cash Flows (Unaudited) &#x2013; Three and Nine Months Ended December 31, 2023 and December 31, 2022 6 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) &#x2013; Three and Nine Months Ended December 31, 2023 and December 31, 2022 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 Item 2 Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4

Controls and Procedures

Controls and Procedures 26

Other Information

Part II. Other Information Item 1

Legal Proceedings

Legal Proceedings 27 Item 1A

Risk Factors

Risk Factors 27 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3 Defaults Upon Senior Securities 27 Item 4 Mine Safety Disclosures 27 Item 5 Other Information 27 Item 6 Exhibits 28

Signatures

Signatures 29 2 AGILYSYS , INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (In thousands, except share data) December 31, 2023 (Unaudited) March 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 116,200 $ 112,842 Accounts receivable, net of allowance for expected credit losses of $ 763 and $ 610 , respectively 49,366 22,378 Contract assets 1,971 2,242 Inventories 6,772 9,774 Prepaid expenses and other current assets 9,385 7,422 Total current assets 183,694 154,658 Property and equipment, net 18,074 14,576 Operating lease right-of-use assets 18,734 12,708 Goodwill 33,082 32,638 Intangible assets, net 17,223 18,140 Deferred income taxes, non-current 67,999 2,790 Other non-current assets 7,852 7,526 Total assets $ 346,658 $ 243,036 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 9,012 $ 9,418 Contract liabilities 62,938 52,124 Accrued liabilities 15,310 13,708 Operating lease liabilities, current 3,947 3,263 Finance lease obligations, current &#x2014; 2 Total current liabilities 91,207 78,515 Deferred income taxes, non-current 1,035 2,257 Operating lease liabilities, non-current 20,200 13,477 Other non-current liabilities 3,943 4,018 Commitments and contingencies Series A convertible preferred stock, no par value &#x2014; 35,459 Shareholders' equity: Common shares, without par value, at $ 0.30 stated value; 80,000,000 shares authorized; 33,342,288 shares issued; and 27,349,322 and 25,326,626 shares outstanding at December 31, 2023 and March 31, 2023, respectively 10,003 9,482 Treasury shares, 5,992,966 and 6,280,205 at December 31, 2023 and March 31, 2023, respectively ( 1,798 ) ( 1,884 ) Capital in excess of stated value 91,173 52,978 Retained earnings 134,794 52,764 Accumulated other comprehensive loss ( 3,899 ) ( 4,030

View Full Filing

View this 10-Q filing on SEC EDGAR