10-Q Filing

AGILYSYS INC CIK: 78749 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-039159`
Period End Date	20210630
Filing Date	20210729
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	agys-10q_20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 50 Cash Flow Statement 41 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivable`	$1.22M	USD	Point-in-time
Allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivable`	$1.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.91M	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
Accounts receivable, net of allowance for expected credit losses of $1,002 and $1,220, respectively	`AccountsReceivableNetCurrent`	$25.73M	USD	Point-in-time
Accounts receivable, net of allowance for expected credit losses of $1,002 and $1,220, respectively	`AccountsReceivableNetCurrent`	$22.81M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.36M	USD	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
Contract assets	`ContractWithCustomerAssetNetCurrent`	$2.08M	USD	Point-in-time
Inventories	`InventoryNet`	$1.18M	USD	Point-in-time
Inventories	`InventoryNet`	$1.19M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.01M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.57M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.84M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.80M	USD	Point-in-time
Treasury shares	`TreasuryStockShares`	7.04M	shares	Point-in-time
Treasury shares	`TreasuryStockShares`	7.60M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$133.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$134.83M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.79M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.75M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$12.21M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$11.37M	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`	$1.89M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxAssetsNet`	$1.80M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.64M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$5.80M	USD	Point-in-time
Total assets	`Assets`	$189.87M	USD	Point-in-time
Total assets	`Assets`	$189.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.35M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$34.76M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$38.39M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.15M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$11.23M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$5.01M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$4.71M	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$15.00K	USD	Point-in-time
Finance lease obligations, current	`FinanceLeaseLiabilityCurrent`	$19.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$61.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.02M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$923.00K	USD	Point-in-time
Deferred income taxes, non-current	`DeferredIncomeTaxLiabilitiesNet`	$928.00K	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$8.60M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$7.87M	USD	Point-in-time
Finance lease obligations, non-current	`FinanceLeaseLiabilityNoncurrent`	$5.00K	USD	Point-in-time
Finance lease obligations, non-current	`FinanceLeaseLiabilityNoncurrent`	$6.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.18M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$4.01M	USD	Point-in-time
Commitments and contingencies (see Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 7)	`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 24,568,661 and 24,010,727 shares outstanding at June 30, 2021 and March 31, 2021, 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 24,568,661 and 24,010,727 shares outstanding at June 30, 2021 and March 31, 2021, respectively	`CommonStockValue`	$9.48M	USD	Point-in-time
Treasury shares, 7,038,170 and 7,596,104 at June 30, 2021 and March 31, 2021, respectively	`TreasuryStockValue`	$2.11M	USD	Point-in-time
Treasury shares, 7,038,170 and 7,596,104 at June 30, 2021 and March 31, 2021, respectively	`TreasuryStockValue`	$2.28M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$37.26M	USD	Point-in-time
Capital in excess of stated value	`AdditionalPaidInCapital`	$40.19M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$36.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$39.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$37.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$71.76M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$84.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$79.88M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$71.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$189.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$189.49M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Total net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$29.81M	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`	$11.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.87M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.55M	USD	1 Quarter
Gross profit margin	`GrossProfitRatio`	0.64	pure	1 Quarter
Gross profit margin	`GrossProfitRatio`	0.62	pure	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$11.48M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$8.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.00M	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`	$566.00K	USD	1 Quarter
Amortization of internal-use software	`AmortizationOfIntangibleAssets`	$465.00K	USD	1 Quarter
Amortization of internal-use software	`AmortizationOfIntangibleAssets`	$461.00K	USD	1 Quarter
Severance and other charges	`SeveranceCosts1`	$225.00K	USD	1 Quarter
Severance and other charges	`SeveranceCosts1`	$1.20M	USD	1 Quarter
Legal settlements, net	`GainLossRelatedToLitigationSettlement`	$-30.00K	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$18.97M	USD	1 Quarter
Total operating expense	`SellingGeneralAndAdministrativeExpense`	$22.83M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$2.04M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-423.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$22.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-106.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$103.00K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.17M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-509.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$193.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income (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
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-459.00K	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.65M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.51M	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.41M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.01M	shares	1 Quarter
Net income (loss) per share - basic:	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Net income (loss) per share - basic:	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.18M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.41M	shares	1 Quarter
Net income (loss) per share - diluted:	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Net income (loss) per share - diluted:	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-517.00K	USD	1 Quarter
Loss on disposal of property & equipment	`GainLossOnDispositionOfAssets1`	$-123.00K	USD	1 Quarter
Depreciation	`Depreciation`	$723.00K	USD	1 Quarter
Depreciation	`Depreciation`	$566.00K	USD	1 Quarter
Amortization of internal-use software	`AmortizationOfIntangibleAssets`	$465.00K	USD	1 Quarter
Amortization of internal-use software	`AmortizationOfIntangibleAssets`	$461.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-108.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-84.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.43M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$3.62M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$6.94M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingAssetsAndLiabilties`	$-1.36M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.00M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.93M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$274.00K	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`	$-276.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-245.00K	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`	$2.07M	USD	1 Quarter
Series A convertible preferred stock issuance proceeds, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$34.06M	USD	1 Quarter
Payment of preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$918.00K	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$6.00K	USD	1 Quarter
Principal payments under long-term obligations	`RepaymentsOfLongTermDebt`	$6.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$33.12M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.99M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$27.95M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.73M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.65M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$74.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.91M	USD	Point-in-time
Cash and cash equivalents at end 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`	$99.18M	USD	Point-in-time

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$71.76M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$84.49M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$79.88M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$71.35M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.43M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.73M	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`	$-626.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income (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
Series A convertible preferred stock dividends	`AccretionOfConvertiblePreferredStockDividends`	$-459.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-25.00K	USD	1 Quarter
Unrealized translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$71.76M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$84.49M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$79.88M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$71.35M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`IncomeLossFromContinuingOperations`	$-517.00K	USD	1 Quarter
Net income (loss)	`IncomeLossFromContinuingOperations`	$1.97M	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.00K	USD	1 Quarter
Unrealized foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-25.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.97M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-542.00K	USD	1 Quarter

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