AGYS - Agilysys Inc. (AGYS) Q4 2024 Earnings Call Transcript
2024-05-13 20:23:08 ET
Agilysys, Inc. (AGYS)
Q4 2024 Results Conference Call
May 13, 2024 04:30 PM ET
Company Participants
Jessica Hennessy - Senior Director of Corporate Strategy and Investor Relations
Ramesh Srinivasan - President and CEO
Dave Wood - CFO
Conference Call Participants
Sam Salvas - Needham & Company
Matt VanVliet - BTIG
Brian Schwartz - Oppenheimer and Company
George Sutton - Craig-Hallum
Nehal Chokshi - Northland Capital Markets
Presentation
Operator
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.
Jessica Hennessy
Thank you, Michelle. And good afternoon, everybody. Thank you for joining the 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 risks and uncertainties that could cause results to differ materially. Important factors that could cause actual results to vary materially from these forward-looking statements include our ability to meet software needs of the hospitality industry, our ability to drive sales and increase market share, our ability to maintain profitability level, and the risks set forth in the Company's reports on Form 10-K and 10-Q and other reports filed with the Securities and Exchange Commission. As a friendly reminder, any references to record financial and business levels during this call refer only to the time period after Agilysys made the transformation to an entirely hospitality focused software solutions company in fiscal year 2014. With that, I'd now like to turn the call over to Mr. Ramesh Srinivasan, President and CEO of Agilysys. Ramesh, please go ahead.
Ramesh Srinivasan
Thank you, Jess. Good evening. Welcome to the fiscal 2024 fourth quarter and full year earnings call. Joining Jess and me on the call today at our Atlanta headquarters is Dave Wood, our CFO. We are pleased to report our ninth consecutive record revenue quarter and another successful fiscal year with record revenue and profitability levels. We have now started not only a new fiscal year but a new era in our organization's history. We are happy to have completed the long and odious period of reengineering and modernizing all our core products, converting each of them into a state-of-the-art cloud native software solution, while simultaneously also creating an ecosystem of cloud native software modules around the core products, making our offerings as complete and end-to-end solution set as there is in the hospitality industry today. We are now focused externally on creating high value for customers with implementations involving these modern solution sets. Customer requirements are now being fulfilled at a fast pace and many hospitality properties are benefiting from the kind of integrated modern solutions this industry has been eagerly waiting for. Let me cover sales first before moving to revenue and other details. Please note that all our sales and selling success related numbers are measured in annual contract value terms. Please also note that the Marriott point of sale POS agreement announced recently is not included in any of the sales and backlog numbers discussed here. This agreement will be reflected in sales and backlog numbers as individual properties select and sign up for our POS solution....
Agilysys, Inc. (AGYS) Q4 2024 Earnings Call Transcript