10-Q Filing

AGILYSYS INC CIK: 78749 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-035113`
Period End Date	20200630
Filing Date	20200731
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	agys-10q_20200630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 44 Cash Flow Statement 40 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$1.63M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$1.46M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.65M	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
Accounts receivable, net of allowance for expected credit losses of $1,458 and for doubtful accounts of $1,634, respectively	`AccountsReceivableNetCurrent`	$35.87M	USD	Point-in-time
Accounts receivable, net of allowance for expected credit losses of $1,458 and for doubtful accounts of $1,634, respectively	`AccountsReceivableNetCurrent`	$30.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.61M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.68M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.61M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.61M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.61M	shares	Point-in-time
Inventories	`InventoryNet`	$3.89M	USD	Point-in-time
Inventories	`InventoryNet`	$2.76M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.87M	USD	Point-in-time
Treasury shares	`TreasuryStockShares`	7.99M	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	8.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$116.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$93.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.23M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$13.83M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$13.05M	USD	Point-in-time
Goodwill	`Goodwill`	$19.62M	USD	Point-in-time
Goodwill	`Goodwill`	$19.62M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.40M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.40M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$764.00K	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$852.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$6.31M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$6.12M	USD	Point-in-time
Total assets	`Assets`	$154.56M	USD	Point-in-time
Total assets	`Assets`	$176.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.40M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$42.24M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$38.15M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$9.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$8.80M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$4.72M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$4.64M	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$24.00K	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$24.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$69.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.05M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$880.00K	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$884.00K	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$10.62M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$9.81M	USD	Point-in-time
Finance lease obligations, non-current	`FinanceLeaseLiabilityNoncurrent`	$25.00K	USD	Point-in-time
Finance lease obligations, non-current	`FinanceLeaseLiabilityNoncurrent`	$20.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.79M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.86M	USD	Point-in-time
Commitments and contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 8)	`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 23,612,924 and 23,609,398 shares outstanding at June 30, 2020 and March 31, 2020, 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 23,612,924 and 23,609,398 shares outstanding at June 30, 2020 and March 31, 2020, respectively	`CommonStockValue`	$9.48M	USD	Point-in-time
Treasury shares, 7,993,907 and 7,997,433 at June 30, 2020 and March 31, 2020, respectively	`TreasuryStockValue`	$2.40M	USD	Point-in-time
Treasury shares, 7,993,907 and 7,997,433 at June 30, 2020 and March 31, 2020, respectively	`TreasuryStockValue`	$2.40M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$5.49M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$6.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$57.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$58.98M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$176.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$201.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$99.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$71.76M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$100.62M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$71.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$176.10M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$154.56M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$38.39M	USD	1 Quarter
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$29.81M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$18.38M	USD	1 Quarter
Total cost of goods sold	`CostOfGoodsAndServicesSold`	$11.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.55M	USD	1 Quarter
Gross Profit Ratio	`GrossProfitRatio`	0.52	pure	1 Quarter
Gross Profit Ratio	`GrossProfitRatio`	0.62	pure	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$8.27M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$10.06M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.50M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.87M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.72M	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$723.00K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$213.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$678.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$461.00K	USD	1 Quarter
Severance and other charges	`SeveranceCosts1`	$1.20M	USD	1 Quarter
Severance and other charges	`SeveranceCosts1`	$231.00K	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$18.97M	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$21.56M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-423.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.54M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$80.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-85.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-106.00K	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.55M	USD	1 Quarter
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-509.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$25.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-517.00K	USD	1 Quarter
Series A convertible preferred stock issuance costs	`AccretionOfConvertiblePreferredStockIssuanceCosts`	$-937.00K	USD	1 Quarter
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-199.00K	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.65M	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.57M	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	23.21M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	23.41M	shares	1 Quarter
Net loss per share - basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net loss per share - basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-517.00K	USD	1 Quarter
Depreciation	`Depreciation`	$723.00K	USD	1 Quarter
Depreciation	`Depreciation`	$213.00K	USD	1 Quarter
Amortization of intangibles	`AdjustmentForAmortization`	$678.00K	USD	1 Quarter
Amortization of intangibles	`AdjustmentForAmortization`	$461.00K	USD	1 Quarter
Amortization of developed technology	`AmortizationOfSoftwareDevelopment`	$3.17M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-84.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$482.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.43M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$4.89M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$6.94M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.93M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.91M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$571.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$243.00K	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`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-245.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-573.00K	USD	1 Quarter
Repurchase of common shares to satisfy employee tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$934.00K	USD	1 Quarter
Repurchase of common shares to satisfy employee tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.03M	USD	1 Quarter
Series A convertible preferred stock issuance proceeds, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$34.06M	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$6.00K	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$2.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.03M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$33.12M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-24.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$27.95M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.54M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$74.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.77M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$37.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.65M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$74.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.77M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$37.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.65M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$99.92M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$71.76M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$100.62M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$71.35M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.07M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.43M	USD	1 Quarter
Shares withheld for taxes upon exercise of stock options, SSARs or vesting of restricted shares	`RepurchasesOfSharesToSatisfyEmployeeTaxWithholding`	$-155.00K	USD	1 Quarter
Shares withheld for taxes upon exercise of stock options, SSARs or vesting of restricted shares	`RepurchasesOfSharesToSatisfyEmployeeTaxWithholding`	$-96.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-517.00K	USD	1 Quarter
Series A convertible preferred stock issuance costs	`AccretionOfConvertiblePreferredStockIssuanceCosts`	$-937.00K	USD	1 Quarter
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-199.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-95.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-25.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$99.92M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$71.76M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$100.62M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$71.35M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	`IncomeLossFromContinuingOperations`	$-1.57M	USD	1 Quarter
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	`IncomeLossFromContinuingOperations`	$-517.00K	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-25.00K	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-95.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.67M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-542.00K	USD	1 Quarter

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