AGILYSYS INC

For the period ended Sep 30, 2026. Filed Oct 26, 2026.

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, 2026 · Filed Oct 26, 2026

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

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Contents

Item 1. CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)	September 30,2026 (Unaudited)	March 31,2026
ASSETS
Current assets:
Cash and cash equivalents	$137,558	$116,894
Accounts receivable, net of allowance for expected credit losses of $859 and $1,105, respectively	41,108	43,069
Contract assets	5,969	4,438
Inventories	10,445	7,529
Prepaid expenses and other current assets	12,417	12,201
Total current assets	207,497	184,131
Property and equipment, net	13,048	13,950
Operating lease right-of-use assets	12,381	13,823
Goodwill	132,372	133,908
Intangible assets, net	63,379	66,359
Deferred income taxes, non-current	54,787	58,069
Other non-current assets	12,014	11,288
Total assets	$495,478	$481,528
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$15,331	$12,445
Contract liabilities	69,639	83,009
Accrued liabilities	18,333	24,333
Operating lease liabilities, current	5,099	5,323
Total current liabilities	108,402	125,110
Deferred income taxes, non-current	10,189	10,144
Operating lease liabilities, non-current	12,120	13,721
Other non-current liabilities	7,034	5,762
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 28,215,472 and 28,166,478 shares outstanding at September 30, 2026 and March 31, 2026, respectively	10,003	10,003
Treasury shares, 5,126,816 and 5,175,810 at September 30, 2026 and March 31, 2026, respectively	(1,539)	(1,554)
Capital in excess of stated value	143,883	131,632
Retained earnings	221,940	199,771
Accumulated other comprehensive loss	(16,554)	(13,061)
Total shareholders' equity	357,733	326,791
Total liabilities and shareholders' equity	$495,478	$481,528

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months EndedSeptember 30,		Six Months EndedSeptember 30,
(In thousands, except per share data)	2026	2025	2026	2025
Net revenue:
Subscription and maintenance	$62,160	$50,955	$119,902	$99,579
Professional services	19,210	18,249	38,803	36,347
Products	11,990	10,095	22,333	20,050
Total net revenue	93,360	79,299	181,038	155,976
Cost of goods sold:
Subscription and maintenance	12,614	10,850	25,340	20,833
Professional services	13,267	13,445	25,928	26,645
Products	7,172	6,037	13,805	12,236
Total cost of goods sold	33,053	30,332	65,073	59,714
Gross profit	60,307	48,967	115,965	96,262
Gross profit margin	64.6%	61.7%	64.1%	61.7%
Operating expenses:
Product development	19,846	17,825	40,091	35,280
Sales and marketing	11,479	9,781	23,675	21,574
General and administrative	11,294	10,164	22,404	20,920
Depreciation of fixed assets	849	964	1,675	1,908
Amortization of internal-use software and intangibles	1,421	1,432	2,848	2,890
Other (gains) charges, net	170	(5,456)	287	(5,203)
Legal settlements, net	—	110	—	225
Total operating expense	45,059	34,820	90,980	77,594
Operating income	15,248	14,147	24,985	18,668
Other income (expense):
Interest income	1,066	346	2,056	793
Interest expense	(73)	(56)	(142)	(273)
Other income (expense), net	501	1,274	654	1,372
Income before taxes	16,742	15,711	27,553	20,560
Income tax provision	3,565	4,001	5,384	3,960
Net income	$13,177	$11,710	$22,169	$16,600
Weighted average shares outstanding - basic	28,142	27,882	28,122	27,838
Net income per share - basic:	$0.47	$0.42	$0.79	$0.60
Weighted average shares outstanding - diluted	28,577	28,397	28,500	28,348
Net income per share - diluted:	$0.46	$0.41	$0.78	$0.59

CONDENSED CONSOLIDATED STATE MENTS OF COMPREHENSIVE INCOME

Three Months Ended · Six Months Ended
	September 30,		September 30,
(In thousands)	2026	2025	2026	2025
Net income	$13,177	$11,710	$22,169	$16,600
Other comprehensive (loss) income:
Unrealized foreign currency translation adjustments	(66)	(4,042)	(3,493)	3,185
Total comprehensive income	$13,111	$7,668	$18,676	$19,785

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended
	September 30,
(In thousands)	2026	2025
Operating activities
Net income	$22,169	$16,600
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on asset disposals	—	2
Depreciation of fixed assets	1,675	1,908
Amortization of internal-use software and intangibles	2,848	2,890
Amortization of developed technology acquired	330	333
Deferred income taxes	3,222	3,188
Share-based compensation	12,281	10,029
Changes in operating assets and liabilities	(19,519)	(24,083)
Net cash provided by operating activities	23,006	10,867
Investing activities
Cash paid for business combination, net of cash acquired	(884)	—
Capital expenditures	(876)	(850)
Net cash used in investing activities	(1,760)	(850)
Financing activities
Debt repayments	—	(24,000)
Proceeds from Employee Stock Purchase Plan purchases	716	777
Repurchase of common shares to satisfy employee tax withholding	(1,197)	(742)
Net cash used in financing activities	(481)	(23,965)
Effect of exchange rate changes on cash	(101)	243
Net increase (decrease) in cash and cash equivalents	20,664	(13,705)
Cash and cash equivalents at beginning of period	116,894	73,041
Cash and cash equivalents at end of period	$137,558	$59,336

CONDENSED CONSOLIDATED STATEM ENTS OF SHAREHOLDERS' EQUITY

	Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data) · Shares · Statedvalue · Shares · Statedvalue · Statedvalue · Retainedearnings · comprehensiveincome (loss) · Total
Balance at June 30, 2026		33,342		$10,003			(5,147)			$(1,545)			$137,594			$208,763		$(16,488)	$338,327
Share-based compensation		—		—			—			—			6,189			—		—	6,189
Shares issued upon exercise of SSARs		—		—			19			6			(6)			—		—	—
Shares withheld for taxes upon exercise of SSARs or vesting of other grants		—		—			(6)			(2)			(608)			—		—	(610)
Other common stock issuances, net		—		—			7			2			714			—		—	716
Net income		—		—			—			—			—			13,177		—	13,177
Unrealized translation adjustments		—		—			—			—			—			—		(66)	(66)
Balance at September 30, 2026		33,342		$10,003			(5,127)			$(1,539)			$143,883			$221,940		$(16,554)	$357,733
	Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data)	Shares		Statedvalue		Shares		Statedvalue		Statedvalue		Retainedearnings			comprehensiveincome (loss)		Total
Balance at June 30, 2025		33,342		$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			0			—			—		—	—
Shares withheld for taxes upon exercise of SSARs or vesting of other grants		—		—			(1)			—			235			—		—	235
Other common stock issuances, net		—		—			7			2			775			—		—	777
Net income		—		—			—			—			—			11,710		—	11,710
Unrealized translation adjustments		—		—			—			—			—			—		(4,042)	(4,042)
Balance at September 30, 2025		33,342		$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)	Shares		Statedvalue		Shares		Statedvalue		Statedvalue		Retainedearnings			comprehensiveincome (loss)		Total
Balance at March 31, 2026		33,342		$10,003			(5,176)			$(1,554)			$131,632			$199,771		$(13,061)	$326,791
Share-based compensation										12,585							12,585
Shares issued upon exercise of SSARs						38		12			(12)							—
Shares withheld for taxes upon exercise of SSARs or vesting of other grants						(11)		(3)			(1,032)							(1,035)
Other common stock issuances, net						22		6			710							716
Net income												22,169					22,169
Unrealized translation adjustments															(3,493)		(3,493)
Balance at September 30, 2026		33,342		$10,003			(5,127)			$(1,539)			$143,883			$221,940		$(16,554)	$357,733
	Common Shares
Issued · In Treasury · Capital inexcess of · Accumulatedother
(In thousands, except share data)	Shares		Statedvalue		Shares		Statedvalue		Statedvalue		Retainedearnings			comprehensiveincome (loss)		Total
Balance at March 31, 2025		33,342		$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		—		—			19			5			(5)			—		—	—
Shares withheld for taxes upon exercise of SSARs or vesting of other grants		—		—			(2)			(1)			76			—		—	75
Other common stock issuances, net		—		—			10			3			774			—		—	777
Net income		—		—			—			—			—			16,600		—	16,600
Unrealized translation adjustments		—		—			—			—			—			—		3,185	3,185
Balance at September 30, 2025		33,342		$10,003			(5,300)			$(1,593)			$120,854			$177,580		$(10,097)	$296,747

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