AGYSHIGH SIGNALFINANCIAL10-K

AGYS experienced a dramatic 73% collapse in net income despite strong revenue growth, driven by a massive cash decline and deteriorating balance sheet metrics.

The 73% net income decline from $86.2M to $23.2M represents a material deterioration in profitability despite 16% revenue growth, indicating significant operational inefficiencies or one-time charges. The 50% cash reduction from $144.9M to $73.0M combined with 24% increase in current liabilities creates immediate liquidity concerns that investors must monitor closely.

Comparing 2025-05-23 vs 2024-05-22View on EDGAR →
FINANCIAL ANALYSIS

AGYS shows a troubling divergence between top-line growth and bottom-line performance, with revenue increasing 16% to $275.6M while net income collapsed 73% to $23.2M. The balance sheet deteriorated significantly with cash falling 50% to $73.0M, current liabilities rising 24%, and current assets declining 35%, creating potential liquidity pressure. Despite operating income improving 43% and operating cash flow growing 14%, the massive net income decline and cash burn signal underlying financial stress that requires immediate investor attention.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
-73.1%
$86.2M→$23.2M

Net income declined 73.1% — review whether driven by operations, interest costs, or non-recurring items.

Cash & Equivalents
Balance Sheet
-49.6%
$144.9M→$73.0M

Cash declined 49.6% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Operating Income
P&L
+43.4%
$15.8M→$22.6M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Current Assets
Balance Sheet
-34.6%
$188.9M→$123.5M

Current assets declined 34.6% — monitor working capital adequacy and short-term liquidity.

Current Liabilities
Balance Sheet
+24.2%
$89.4M→$111.0M

Current liabilities rose 24.2% — increased short-term obligations, watch current ratio.

Total Assets
Balance Sheet
+24%
$350.4M→$434.4M

Asset base grew 24% — expansion through organic growth, acquisitions, or capital deployment.

Gross Profit
P&L
+19.2%
$144.3M→$172.0M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

SG&A Expense
P&L
+19%
$107.9M→$128.5M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Revenue
P&L
+16.1%
$237.5M→$275.6M

Revenue growing 16.1% — solid top-line momentum, watch margins for quality of growth.

Operating Cash Flow
Cash Flow
+14.4%
$48.2M→$55.1M

Operating cash flow grew 14.4% — strong conversion of earnings to cash, healthy business fundamentals.

LANGUAGE CHANGES
NEW — 2025-05-23
PRIOR — 2024-05-22
ADDED
For example, fiscal 2025 refers to the fiscal year ended March 31, 2025.
Today, we are focused on providing state-of-the-art, end-to-end solutions that enhance guest and staff experiences and assist our customers in promoting their brands.
We present revenue and costs of goods sold in three categories: Products Subscription and maintenance Professional services Total revenue for these three specific areas is as follows: Year Ended March 31, (In thousands) 2025 2024 2023 Products $ 41,324 $ 49,083 $ 43,638 Subscription and maintenance 170,051 138,069 118,285 Professional services 64,249 50,312 36,142 Total $ 275,624 $ 237,464 $ 198,065 Products: Products revenue is comprised of revenue from the sale of software along with third party hardware and operating systems.
We deliver modular and integrated software solutions and expertise to businesses seeking to maximize Return on Experience (ROE) through hospitality encounters that are both personal and profitable.
Offering flexibility, guests can choose to create their own experience through mobile or kiosk ordering, or opt for more traditional service by interacting with staff like cashiers, bartenders, and servers.
+7 more — sign up free →
REMOVED
For example, fiscal 2024 refers to the fiscal year ended March 31, 2024.
Today, we are focused on providing state-of-the-art, end-to-end solutions that enhance guest and staff experiences and allow our customers to promote their brands.
We present revenue and costs of goods sold in three categories: Products Subscription and maintenance Professional services Total revenue for these three specific areas is as follows: Year ended March 31, (In thousands) 2024 2023 2022 Products $ 49,083 $ 43,638 $ 35,956 Subscription and maintenance 138,069 118,285 98,958 Professional services 50,312 36,142 27,722 Total $ 237,464 $ 198,065 $ 162,636 Products: Products revenue is comprised of revenue from the sale of software along with third party hardware and operating systems.
The Company delivers modular and integrated software solutions and expertise to businesses seeking to maximize Return on Experience (ROE) through hospitality encounters that are both personal and profitable.
Guests are empowered to create their own experiences through ordering from a mobile device or walking up to a self-service kiosk, but also providing for a more traditional experience with staff by interacting with a cashier or bar, or having a server come to them.
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