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AMSWA - American Software slides 11% after earnings report
American Software Inc. Class A Common Stock
American Software (NASDAQ:AMSWA) reports mixed Q4 results that beat revenue estimates but missed on EPS.
Q4 highlights: Total revenue were $29.27M (+11.4% Y/Y).
Segment sales: Subscription fees $6.3M (+64% Y/Y); License fees $1.1M (-37%); Professional services $11.5M (+16%) and Maintenance $10.40M (-4%).
Cloud Services Annual Contract Value (ACV) increased ~53% to $26.4M.
Adjusted EBITDA $3.9M (+11%).
Cash and and investments of ~$94.7M, and no debt as of April 30, 2020.
Allan Dow, CEO and president of American Software: "With our cloud-first strategy firmly in place, we expect the percentage of recurring revenue to continue to trend higher in the future".