Agilysys Q3 revenue rises 21.3% to record $60.6 million; raises EBITDA guidance
Agilysys reported fiscal 2024 third-quarter results for the period ended December 31, 2023, with total net revenue up 21.3% to a record $60.6 million and adjusted EBITDA up to $11.8 million from $8.1 million a year earlier. The company raised its fiscal 2024 Adjusted EBITDA expectation to 15% of revenue and reiterated its full-year revenue guidance of $235 million to $238 million. GAAP net income of $76.9 million was boosted by a $65.1 million release of tax valuation allowances.
- Total net revenue rose 21.3% to $60.6 million from $49.9 million; subscription revenue grew 29.9% year-over-year.
- GAAP net income attributable to common shareholders was $76.9 million, or $2.85 per diluted share, versus $0.13 a year earlier, including a $65.1 million valuation allowance release.
- Adjusted diluted EPS was $0.35 versus $0.26; adjusted EBITDA was $11.8 million versus $8.1 million.
- Fiscal 2024 Adjusted EBITDA guidance raised to 15% of revenue; revenue guidance of $235 million to $238 million reiterated.