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Midas Edge

AGILYSYS INC

For the period ended Sep 30, 2025. Filed Oct 27, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 27, 2025

AGYS$124.15+0.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)September 30,2025 (Unaudited)March 31,2025
ASSETS
Current assets:
Cash and cash equivalents$59,336$73,041
Accounts receivable, net of allowance for expected credit losses of $1,202 and $627, respectively36,79631,529
Contract assets4,0484,523
Inventories7,7145,174
Prepaid expenses and other current assets10,0679,260
Total current assets117,961123,527
Property and equipment, net15,26816,718
Operating lease right-of-use assets15,11117,114
Goodwill134,130130,640
Intangible assets, net69,50070,802
Deferred income taxes, non-current63,20466,520
Other non-current assets10,3949,049
Total assets$425,568$434,370
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable$12,764$12,388
Contract liabilities62,88670,654
Accrued liabilities15,64922,324
Operating lease liabilities, current5,4495,658
Total current liabilities96,748111,024
Deferred income taxes, non-current11,33110,986
Operating lease liabilities, non-current15,19417,304
Debt, non-current—24,000
Other non-current liabilities5,5485,170
Commitments and contingencies
Shareholders' equity:
Common shares, without par value, at $0.30 stated value; 80,000,000 shares authorized; 33,342,288 shares issued; and 28,042,618 and 28,015,775 shares outstanding at September 30, 2025 and March 31, 2025, respectively10,00310,003
Treasury shares, 5,299,670 and 5,326,513 at September 30, 2025 and March 31, 2025, respectively(1,593)(1,600)
Capital in excess of stated value120,854109,785
Retained earnings177,580160,980
Accumulated other comprehensive loss(10,097)(13,282)
Total shareholders' equity296,747265,886
Total liabilities and shareholders' equity$425,568$434,370

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months EndedSeptember 30,Six Months EndedSeptember 30,
(In thousands, except per share data)2025202420252024
Net revenue:
Products$10,095$10,525$20,050$20,400
Subscription and maintenance50,95541,43299,57979,474
Professional services18,24916,32236,34731,917
Total net revenue79,29968,279155,976131,791
Cost of goods sold:
Products6,0375,20612,23610,432
Subscription and maintenance10,8508,82720,83316,935
Professional services13,44511,03226,64521,342
Total cost of goods sold30,33225,06559,71448,709
Gross profit48,96743,21496,26283,082
Gross profit margin61.7%63.3%61.7%63.0%
Operating expenses:
Product development17,82516,17235,28030,892
Sales and marketing9,7818,79421,57415,808
General and administrative10,16410,16220,92020,645
Depreciation of fixed assets9649151,9081,752
Amortization of internal-use software and intangibles1,4329042,8901,155
Other (gains) charges, net(5,456)2,037(5,203)2,587
Legal settlements110104225369
Total operating expense34,82039,08877,59473,208
Operating income14,1474,12618,6689,874
Other income (expense):
Interest income3461,0957932,877
Interest expense(56)(458)(273)(458)
Other income, net1,2743831,372226
Income before taxes15,7115,14620,56012,519
Income tax provision (benefit)4,0013,7823,960(2,951)
Net income$11,710$1,364$16,600$15,470
Weighted average shares outstanding - basic27,88227,53327,83827,335
Net income per share - basic:$0.42$0.05$0.60$0.57
Weighted average shares outstanding - diluted28,39728,25728,34828,202
Net income per share - diluted:$0.41$0.05$0.59$0.55

CONDENSED CONSOLIDATED STATE MENTS OF COMPREHENSIVE INCOME

Three Months Ended · Six Months Ended
September 30,September 30,
(In thousands)2025202420252024
Net income$11,710$1,364$16,600$15,470
Other comprehensive income (loss):
Unrealized foreign currency translation adjustments(4,042)7093,185551
Total comprehensive income$7,668$2,073$19,785$16,021

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Six Months Ended
September 30,
(In thousands)20252024
Operating activities
Net income$16,600$15,470
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on asset disposals221
Depreciation of fixed assets1,9081,752
Amortization of internal-use software and intangibles2,8901,155
Amortization of developed technology acquired333138
Deferred income taxes3,188(7,634)
Share-based compensation10,0298,438
Changes in operating assets and liabilities(24,083)(11,652)
Net cash provided by operating activities10,8677,688
Investing activities
Cash paid for business combination, net of cash acquired—(144,945)
Capital expenditures(850)(1,520)
Net cash used in investing activities(850)(146,465)
Financing activities
Debt proceeds, net of issuance costs—49,655
Debt repayments(24,000)—
Proceeds from Employee Stock Purchase Plan purchases777453
Repurchase of common shares to satisfy employee tax withholding(742)(1,428)
Net cash (used in) provided by financing activities(23,965)48,680
Effect of exchange rate changes on cash24394
Net decrease in cash and cash equivalents(13,705)(90,003)
Cash and cash equivalents at beginning of period73,041144,891
Cash and cash equivalents at end of period$59,336$54,888

CONDENSED CONSOLIDATED STATEM ENTS OF SHAREHOLDERS' EQUITY

Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data)SharesStatedvalueSharesStatedvalueStatedvalueRetainedearningscomprehensiveincome (loss)Total
Balance at June 30, 202533,342$10,003(5,307)$(1,595)$114,996$165,870$(6,055)$283,219
Share-based compensation————4,848——4,848
Shares issued upon exercise of SSARs——1—————
Shares withheld for taxes upon exercise of SSARs or vesting of other grants——(1)—235——235
Other common stock issuances, net——72775——777
Net income—————11,710—11,710
Unrealized translation adjustments——————(4,042)(4,042)
Balance at September 30, 202533,342$10,003(5,300)$(1,593)$120,854$177,580$(10,097)$296,747
Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data)SharesStatedvalueSharesStatedvalueStatedvalueRetainedearningscomprehensiveincome (loss)Total
Balance at June 30, 202433,342$10,003(5,470)$(1,642)$98,277$151,861$(4,328)$254,171
Share-based compensation————3,877——3,877
Shares issued upon exercise of SSARs——4714(14)———
Shares withheld for taxes upon exercise of SSARs or vesting of other grants——(2)(1)(311)——(312)
Other common stock issuances, net——237446——453
Net income—————1,364—1,364
Unrealized translation adjustments——————709709
Balance at September 30, 202433,34210,003(5,402)(1,622)102,275153,225(3,619)260,262
Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data)SharesStatedvalueSharesStatedvalueStatedvalueRetainedearningscomprehensiveincome (loss)Total
Balance at March 31, 202533,342$10,003(5,327)$(1,600)$109,785$160,980$(13,282)$265,886
Share-based compensation————10,224——10,224
Shares issued upon exercise of SSARs——195(5)———
Shares withheld for taxes upon exercise of SSARs or vesting of other grants——(2)(1)76——75
Other common stock issuances, net——103774——777
Net income—————16,600—16,600
Unrealized translation adjustments——————3,1853,185
Balance at September 30, 202533,342$10,003(5,300)$(1,593)$120,854$177,580$(10,097)$296,747
Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data)SharesStatedvalueSharesStatedvalueStatedvalueRetainedearningscomprehensiveincome (loss)Total
Balance at March 31, 202433,342$10,003(5,965)$(1,791)$94,680$137,755$(4,170)$236,477
Share-based compensation————8,727——8,727
Shares issued upon exercise of SSARs——545164(164)———
Shares withheld for taxes upon exercise of SSARs or vesting of other grants——(16)(5)(1,411)——(1,416)
Other common stock issuances, net——3410443——453
Net income—————15,470—15,470
Unrealized translation adjustments——————551551
Balance at September 30, 202433,34210,003(5,402)(1,622)102,275153,225(3,619)260,262
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.