Agilysys Inc. Files Q2 Fiscal 2024 10-Q

TL;DR

AGYS Q2 10-Q filed. Financials and ops details out.

AI Summary

Agilysys Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial performance and business operations. Key financial data and operational details for the second quarter of fiscal year 2024 were disclosed.

Why It Matters

This filing provides investors with a detailed look at Agilysys's financial health and operational progress during the second quarter, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• Q2 2024 — Fiscal Quarter (Period covered by the filing)
• 0331 — Fiscal Year End (Agilysys's fiscal year concludes on March 31st)

Key Players & Entities

• AGILYSYS INC (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241028 (date) — Filing date
• 7708107800 (dollar_amount) — Business phone number

FAQ

Filing Documents

• agys-20240930.htm (10-Q) — 2114KB
• agys-ex10_1.htm (EX-10.1) — 1565KB
• 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
• img210102116_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-117726.txt ( ) — 8791KB
• agys-20240930.xsd (EX-101.SCH) — 924KB
• agys-20240930_htm.xml (XML) — 1078KB

Financial Information

Part I. Financial Information Item 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets – September 30, 2024 (Unaudited) and March 31, 2024 3 Condensed Consolidated Statements of Operations (Unaudited) – Six Months Ended September 30, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) – Six Months Ended September 30, 2024 and September 30, 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) – Six Months Ended September 30, 2024 and September 30, 2024 6 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) – Six Months Ended September 30, 2024 and September 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 20 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4

Controls and Procedures

Controls and Procedures 29

Other Information

Part II. Other Information Item 1

Legal Proceedings

Legal Proceedings 31 Item 1A

Risk Factors

Risk Factors 31 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3 Defaults Upon Senior Securities 31 Item 4 Mine Safety Disclosures 31 Item 5 Other Information 31 Item 6 Exhibits 32

Signatures

Signatures 33 2 AGILYSYS , INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (In thousands, except share data) September 30, 2024 (Unaudited) March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 54,888 $ 144,891 Accounts receivable, net of allowance for expected credit losses of $ 755 and $ 974 , respectively 31,614 29,441 Contract assets 4,537 2,287 Inventories 6,446 4,587 Prepaid expenses and other current assets 11,216 7,731 Total current assets 108,701 188,937 Property and equipment, net 17,538 17,930 Operating lease right-of-use assets 18,120 18,384 Goodwill 135,426 32,791 Intangible assets, net 79,018 16,952 Deferred income taxes, non-current 74,898 67,373 Other non-current assets 8,309 8,063 Total assets $ 442,010 $ 350,430 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 12,746 $ 9,422 Contract liabilities 55,355 56,148 Accrued liabilities 22,315 19,522 Operating lease liabilities, current 5,473 4,279 Total current liabilities 95,889 89,371 Deferred income taxes, non-current 12,269 554 Operating lease liabilities, non-current 18,662 19,613 Debt, non-current 50,000 — Other non-current liabilities 4,928 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 27,940,004 and 27,376,862 shares outstanding at September 30, 2024 and March 31, 2024, respectively 10,003 10,003 Treasury shares, 5,402,284 and 5,965,426 at September 30, 2024 and March 31, 2024, respectively ( 1,622 ) ( 1,791 ) Capital in excess of stated value 102,275 94,680 Retained earnings 153,225 137,755 Accumulated other comprehensive loss ( 3,619 ) ( 4,170 ) Total shareholders' equity 260,262 236,477 Total liabilities and sharehold

View Full Filing

View this 10-Q filing on SEC EDGAR