Agilysys Achieves Record Revenue and International Growth in Fiscal Year 2024

2024-05-15

Agilysys, a prominent company in the technology and hospitality industry, held its 2024 Q4 Earnings call on May 13, 2424. During the call, Jessica Hennessy, the Senior Director of Corporate Strategy and Investor Relations, provided important information regarding the company's performance. She highlighted the safe harbor language and the forward-looking statements made during the call.

The President and CEO of Agilysys, Mr. Ramesh Srinivasan, shared significant achievements, including the company's ninth consecutive record revenue quarter and another successful fiscal year with record revenue and profitability levels. The fiscal year 2024 saw Agilysys undergo a transformation, achieving milestones such as a record year in the Americas Hotels and Resorts vertical and substantial growth in subscription software and services sales.

The company's sales and selling success numbers were measured in annual contract value terms, showcasing steady growth across various product categories. Agilysys reported strong international revenue performance, with fiscal 2024 being the best year on record for international revenue. The company's growth strategy focused on expanding market share, international expansion, and increasing deal sizes across different verticals.

Agilysys aimed to sustain its revenue growth momentum, with expectations of revenue growth between 16% and 18% in fiscal 2025. The company's focus on organic growth, successful acquisitions like Resort Suite, and retaining recurring revenue through transitioning customers to newer products demonstrated a strategic approach to driving continued success.

As Agilysys navigated challenges and capitalized on growth opportunities, its commitment to innovation, customer value, and financial performance positioned it as a key player in the evolving landscape of technology and hospitality solutions. With a strong foundation and strategic vision, Agilysys was poised for continued success in the dynamic business environment.