10-Q Filing

AGILYSYS INC CIK: 78749 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-035110`
Period End Date	20230630
Filing Date	20230727
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	agys-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 48 Cash Flow Statement 40 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivable`	$610.00K	USD	Point-in-time
Allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivable`	$578.00K	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`	25.35M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.33M	shares	Point-in-time
Treasury shares	`TreasuryStockCommonShares`	6.26M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$107.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$112.84M	USD	Point-in-time
Treasury shares	`TreasuryStockCommonShares`	6.28M	shares	Point-in-time
Accounts receivable, net of allowance for expected credit losses of $578 and $318, respectively	`AccountsReceivableNetCurrent`	$22.38M	USD	Point-in-time
Accounts receivable, net of allowance for expected credit losses of $578 and $318, respectively	`AccountsReceivableNetCurrent`	$25.58M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.28M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.24M	USD	Point-in-time
Inventories	`InventoryNet`	$9.77M	USD	Point-in-time
Inventories	`InventoryNet`	$8.45M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$149.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$154.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$15.99M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$12.71M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$24.04M	USD	Point-in-time
Goodwill	`Goodwill`	$32.64M	USD	Point-in-time
Goodwill	`Goodwill`	$33.08M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$17.89M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.14M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$2.93M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$2.79M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$7.99M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$7.53M	USD	Point-in-time
Total assets	`Assets`	$251.35M	USD	Point-in-time
Total assets	`Assets`	$243.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.54M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$52.12M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$47.29M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$11.26M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.71M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$3.26M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$4.80M	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$2.00K	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$1.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$73.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$78.52M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$2.26M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$2.30M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$24.14M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$13.48M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.02M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.33M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`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 25,351,357 and 25,326,626 shares outstanding at June 30, 2023 and March 31, 2023, 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 25,351,357 and 25,326,626 shares outstanding at June 30, 2023 and March 31, 2023, respectively	`CommonStockValue`	$9.48M	USD	Point-in-time
Treasury shares, 6,255,474 and 6,280,205 at June 30, 2023 and March 31, 2023, respectively	`TreasuryStockValue`	$1.88M	USD	Point-in-time
Treasury shares, 6,255,474 and 6,280,205 at June 30, 2023 and March 31, 2023, respectively	`TreasuryStockValue`	$1.88M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$53.73M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$52.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$52.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$53.85M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.51M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$101.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$109.31M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$97.34M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$111.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$243.04M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$251.35M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$47.51M	USD	1 Quarter
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$56.06M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$19.01M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$23.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$28.50M	USD	1 Quarter
Gross profit margin	`GrossProfitRatio`	0.59	pure	1 Quarter
Gross profit margin	`GrossProfitRatio`	0.60	pure	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$13.32M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$11.56M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.41M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.30M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.37M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.35M	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$473.00K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$923.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$453.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$430.00K	USD	1 Quarter
Other charges	`OtherExpenses`	$759.00K	USD	1 Quarter
Other charges	`OtherExpenses`	$214.00K	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$32.10M	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$25.46M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$958.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.03M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.10M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$101.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$-1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-159.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$304.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.44M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.90M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$352.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$398.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.04M	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`	$2.58M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.09M	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.60M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.94M	shares	1 Quarter
Net income per share - basic:	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net income per share - basic:	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.37M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.18M	shares	1 Quarter
Net income per share - diluted:	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income per share - diluted:	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.04M	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$473.00K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$923.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$453.00K	USD	1 Quarter
Amortization of internal-use software and intangibles	`AmortizationOfIntangibleAssets`	$430.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-129.00K	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`	$3.17M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$6.24M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$5.92M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.00K	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`	$3.06M	USD	1 Quarter
Additional investments in corporate-owned life insurance policies	`PaymentsForProceedsFromLifeInsurancePolicies`	$2.00K	USD	1 Quarter
Additional investments in corporate-owned life insurance policies	`PaymentsForProceedsFromLifeInsurancePolicies`	$7.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-105.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.07M	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`	$1.78M	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$1.00K	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$1.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.70M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.74M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-331.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.07M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.75M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$112.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.09M	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 end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$112.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$107.09M	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

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$101.28M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$109.31M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$97.34M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$111.69M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.38M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.62M	USD	1 Quarter
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	`RepurchasesOfSharesToSatisfyEmployeeTaxWithholding`	$-873.00K	USD	1 Quarter
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	`RepurchasesOfSharesToSatisfyEmployeeTaxWithholding`	$-2.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.04M	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`	$523.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-398.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$101.28M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$109.31M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$97.34M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$111.69M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`IncomeLossFromContinuingOperations`	$3.04M	USD	1 Quarter
Net income	`IncomeLossFromContinuingOperations`	$1.55M	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-398.00K	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$523.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.64M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.07M	USD	1 Quarter

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