Agilysys Inc. Q1 2024 Update: Equity Plans and Financials

TL;DR

AGYS Q1 2024: Equity incentives active, financials updated. Keep an eye on executive comp.

AI Summary

Agilysys Inc. reported its first quarter results for the period ending June 30, 2024. The company's filing indicates activity related to its equity incentive plans, including stock appreciation rights, performance shares for the Chief Executive Officer, and restricted stock units. Financial figures such as retained earnings and additional paid-in capital as of March 31, 2024, and June 30, 2024, are also noted.

Why It Matters

This filing provides insight into Agilysys's executive compensation structure and its financial health, which can influence investor decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative events.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by this 10-Q filing.)
• 20240726 — Filing Date (The date Agilysys Inc. submitted this 10-Q to the SEC.)

Key Players & Entities

• Agilysys Inc. (company) — Filer of the 10-Q report.
• June 30, 2024 (date) — End of the reporting period for the 10-Q.
• March 31, 2024 (date) — Previous fiscal quarter end date referenced for financial figures.
• Chief Executive Officer (person) — Recipient of performance shares under the equity incentive plan.

FAQ

Filing Documents

• agys-20240630.htm (10-Q) — 1306KB
• agys-ex10_1.htm (EX-10.1) — 54KB
• agys-ex31_1.htm (EX-31.1) — 11KB
• agys-ex31_2.htm (EX-31.2) — 11KB
• agys-ex31_3.htm (EX-31.3) — 11KB
• agys-ex32.htm (EX-32) — 15KB
• 0000950170-24-086879.txt ( ) — 4917KB
• agys-20240630.xsd (EX-101.SCH) — 756KB
• agys-20240630_htm.xml (XML) — 678KB

Financial Information

Part I. Financial Information Item 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets – June 30, 2024 (Unaudited) and March 31, 2024 3 Condensed Consolidated Statements of Operations (Unaudited) – Three Months Ended June 30, 2024 and June 30, 2023 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) – Three Months Ended June 30, 2024 and June 30, 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) – Three Months Ended June 30, 2024 and June 30, 2024 6 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) – Three Months Ended June 30, 2024 and June 30, 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 Item 2

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

Management'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 23 Item 4

Controls and Procedures

Controls and Procedures 23

Other Information

Part II. Other Information Item 1

Legal Proceedings

Legal Proceedings 24 Item 1A

Risk Factors

Risk Factors 24 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3 Defaults Upon Senior Securities 24 Item 4 Mine Safety Disclosures 24 Item 5 Other Information 24 Item 6 Exhibits 25

Signatures

Signatures 26 2 AGILYSYS , INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (In thousands, except share data) June 30, 2024 (Unaudited) March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 144,111 $ 144,891 Accounts receivable, net of allowance for expected credit losses of $ 944 and $ 974 , respectively 27,308 29,441 Contract assets 3,523 2,287 Inventories 5,300 4,587 Prepaid expenses and other current assets 6,523 7,731 Total current assets 186,765 188,937 Property and equipment, net 17,663 17,930 Operating lease right-of-use assets 17,843 18,384 Goodwill 32,659 32,791 Intangible assets, net 16,706 16,952 Deferred income taxes, non-current 76,237 67,373 Other non-current assets 7,825 8,063 Total assets $ 355,698 $ 350,430 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 10,085 $ 9,422 Contract liabilities 49,200 56,148 Accrued liabilities 13,127 19,522 Operating lease liabilities, current 4,992 4,279 Total current liabilities 77,404 89,371 Deferred income taxes, non-current 549 554 Operating lease liabilities, non-current 18,903 19,613 Other non-current liabilities 4,671 4,415 Commitments and contingencies Shareholders' equity: Common shares, without par value, at $ 0.30 stated value; 80,000,000 shares authorized; 33,342,288 shares issued; and 27,872,345 and 27,376,862 shares outstanding at June 30, 2024 and March 31, 2024, respectively 10,003 10,003 Treasury shares, 5,469,903 and 5,965,426 at June 30, 2024 and March 31, 2024, respectively ( 1,642 ) ( 1,791 ) Capital in excess of stated value 98,277 94,680 Retained earnings 151,861 137,755 Accumulated other comprehensive loss ( 4,328 ) ( 4,170 ) Total shareholders' equity 254,171 236,477 Total liabilities and shareholders' equity $ 355,698 $ 350,430 See accompa

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