Press Release

Grand News Network | October 24, 2023

Why Hospitality Software Provider Agilysys Shares Are Surging Today

Hospitality software provider Agilysys Inc (NASDAQ: AGYS) shares are trading higher by 8% after it reported Q2 FY24 results.

Net revenue rose 22.8% Y/Y to $58.6 million, surpassing the consensus of $56.79 million.

Recurring revenue (comprising subscription and maintenance charges) stood at $34.2 million (vs. $29.0 million a year ago). Subscription revenue grew 29.1% Y/Y, accounting for 53.6% of total recurring revenue.

"Our implementation efficiency continues to improve as the re-engineered core products and newly developed experience enhancer add-on software modules are performing well in the field and creating considerable value for customers. Excellent selling success momentum highlighted by ...

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