10-Q Filing

AGILYSYS INC CIK: 78749 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-013472`
Period End Date	20220630
Filing Date	20220729
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	agys-20220630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 50 Cash Flow Statement 42 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivable`	$318.00K	USD	Point-in-time
Allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivable`	$496.00K	USD	Point-in-time
Common stock, stated value	`CommonStockParOrStatedValuePerShare`	$0.30	USD	Point-in-time
Common stock, stated value	`CommonStockParOrStatedValuePerShare`	$0.30	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.61M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.61M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.73M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.03M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.97M	USD	Point-in-time
Treasury shares	`TreasuryStockShares`	6.58M	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	6.88M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.90M	USD	Point-in-time
Accounts receivable, net of allowance for expected credit losses of $496 and $318, respectively	`AccountsReceivableNetCurrent`	$25.18M	USD	Point-in-time
Accounts receivable, net of allowance for expected credit losses of $496 and $318, respectively	`AccountsReceivableNetCurrent`	$22.90M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.66M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$1.67M	USD	Point-in-time
Inventories	`InventoryNet`	$7.25M	USD	Point-in-time
Inventories	`InventoryNet`	$6.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$136.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$132.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.34M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$9.28M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$9.89M	USD	Point-in-time
Goodwill	`Goodwill`	$32.76M	USD	Point-in-time
Goodwill	`Goodwill`	$32.76M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$19.83M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.18M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$2.66M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$2.68M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$6.18M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$6.15M	USD	Point-in-time
Total assets	`Assets`	$214.16M	USD	Point-in-time
Total assets	`Assets`	$208.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.77M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$46.09M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$41.99M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$7.87M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.55M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$4.73M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$5.05M	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$4.00K	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$4.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$62.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$71.47M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$943.00K	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$938.00K	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$5.65M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$4.97M	USD	Point-in-time
Finance lease obligations, non-current	`FinanceLeaseLiabilityNoncurrent`	$2.00K	USD	Point-in-time
Finance lease obligations, non-current	`FinanceLeaseLiabilityNoncurrent`	$1.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$3.30M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$3.79M	USD	Point-in-time
Commitments and contingencies (see Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common shares, without par value, at $0.30 stated value; 80,000,000 shares authorized; 31,606,831 shares issued; and 25,025,983 and 24,728,532 shares outstanding at June 30,2022 and March 31, 2022, respectively	`CommonStockValue`	$9.48M	USD	Point-in-time
Common shares, without par value, at $0.30 stated value; 80,000,000 shares authorized; 31,606,831 shares issued; and 25,025,983 and 24,728,532 shares outstanding at June 30,2022 and March 31, 2022, respectively	`CommonStockValue`	$9.48M	USD	Point-in-time
Treasury shares, 6,580,848 and 6,878,299 at June 30,2022 and March 31, 2022, respectively	`TreasuryStockValue`	$1.97M	USD	Point-in-time
Treasury shares, 6,580,848 and 6,878,299 at June 30,2022 and March 31, 2022, respectively	`TreasuryStockValue`	$2.06M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$51.62M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$49.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$40.02M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-454.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-56.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$84.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$101.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$79.88M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$97.34M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$208.76M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$214.16M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$47.51M	USD	1 Quarter
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$38.73M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$13.86M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$19.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$28.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.87M	USD	1 Quarter
Gross profit margin	`GrossProfitRatio`	0.64	pure	1 Quarter
Gross profit margin	`GrossProfitRatio`	0.60	pure	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$11.56M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$11.48M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.35M	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$566.00K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$473.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$465.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$453.00K	USD	1 Quarter
Other charges	`OtherExpenses`	$225.00K	USD	1 Quarter
Other charges	`OtherExpenses`	$214.00K	USD	1 Quarter
Legal settlements	`GainLossRelatedToLitigationSettlement`	$-30.00K	USD	1 Quarter
Legal settlements	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$25.46M	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$22.83M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.04M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.03M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$22.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$101.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$304.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$103.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.44M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.17M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$193.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$398.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-459.00K	USD	1 Quarter
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-459.00K	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.51M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.58M	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.60M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.01M	shares	1 Quarter
Income per share - basic:	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Income per share - basic:	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.18M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.37M	shares	1 Quarter
Income per share - diluted:	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Income per share - diluted:	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Loss on disposal of property & equipment	`GainLossOnDispositionOfAssets1`	$-123.00K	USD	1 Quarter
Loss on disposal of property & equipment	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$566.00K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$473.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$465.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$453.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-108.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-116.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.49M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$6.24M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$-1.36M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$101.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$98.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$274.00K	USD	1 Quarter
Additional investments in corporate-owned life insurance policies	`PaymentsForProceedsFromLifeInsurancePolicies`	$7.00K	USD	1 Quarter
Additional investments in corporate-owned life insurance policies	`PaymentsForProceedsFromLifeInsurancePolicies`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-105.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-276.00K	USD	1 Quarter
Payment of preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$918.00K	USD	1 Quarter
Payment of preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$918.00K	USD	1 Quarter
Repurchase of common shares to satisfy employee tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$820.00K	USD	1 Quarter
Repurchase of common shares to satisfy employee tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.07M	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$1.00K	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$6.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.99M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.74M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-331.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.07M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.73M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$94.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$96.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$94.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.91M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$84.49M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$101.28M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$79.88M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$97.34M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.62M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.73M	USD	1 Quarter
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	`RepurchasesOfSharesToSatisfyEmployeeTaxWithholding`	$-626.00K	USD	1 Quarter
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	`RepurchasesOfSharesToSatisfyEmployeeTaxWithholding`	$-873.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-459.00K	USD	1 Quarter
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-459.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-398.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$84.49M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$101.28M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$79.88M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$97.34M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`IncomeLossFromContinuingOperations`	$1.97M	USD	1 Quarter
Net income	`IncomeLossFromContinuingOperations`	$3.04M	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-398.00K	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.97M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.64M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.