Q4 2024 Agilysys Inc Earnings Call Transcript
Key Points
- Agilysys Inc (AGYS) reported its ninth consecutive record revenue quarter and another successful fiscal year with record revenue and profitability levels.
- The company has successfully reengineered and modernized all core products into cloud-native software solutions, enhancing their competitiveness in the hospitality industry.
- Agilysys Inc (AGYS) has become one of the approved POS vendors for all Marriott properties in the US and Canada, opening up significant new sales growth avenues.
- The company achieved a record annual contract value of sales wins involving new customers in fiscal 2024, which was about 40% higher than the previous fiscal year.
- Agilysys Inc (AGYS) reported strong international growth, with APAC sales up about 45% from the previous year, indicating successful expansion into global markets.
- Despite overall growth, product bookings decreased by 12% in fiscal 2024, indicating potential challenges in this area.
- Point-of-sale (POS) terminal hardware sales declined compared to the previous fiscal year, which could impact overall revenue from hardware sales.
- The number of new customers added in the most recent quarter was lower than the recent range, suggesting a slowdown in new customer acquisition.
- The company faces intense competition, particularly in APAC and EMEA, where it needs to establish a stronger reputation and trust among potential customers.
- Agilysys Inc (AGYS) is still in the process of building reference customers for its new products, which is crucial for gaining trust and expanding sales.
Good day, ladies and gentlemen, and welcome to Agilysys 2024 fourth quarter and full fiscal year conference call. As a reminder, today's conference may be recorded. I would now like to turn the conference over to Jessica Hennessy, Senior Director of Corporate Strategy and Investor Relations at Agilysys. You may begin.
Thank you, Michelle, and good afternoon, everybody. Thank you for joining the Agilysys 2024 fourth quarter and full fiscal year conference call. We will get started in just a moment with management's comments, but before doing so, let me read the Safe Harbor language. Some statements made on today's call will be predictive and are intended to be made as forward-looking within the Safe Harbor protections of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial guidance.
Although the company believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to
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