Agilysys Stock Price, News & Analysis

Agilysys, Inc. (NASDAQ: AGYS) has announced the expansion of its operations in the Middle East by hiring Hussein Tawalbeh to lead sales and operations from Dubai. This move aligns with the region's booming hospitality sector, which saw a 183% increase in international visitors to Dubai as of June 2022. The Middle East has a construction pipeline of 545 hospitality projects set to drive growth, including 114 hotel openings in 2023. Agilysys aims to enhance its market presence through innovative software solutions catering to this expanding market.

Agilysys (NASDAQ: AGYS) announced a significant partnership with the Mohegan INSPIRE Entertainment Resort in South Korea. This collaboration marks the deployment of Agilysys' hospitality software on a single cloud-based platform at what will be the largest resort entertainment complex in the country. The $5 billion resort will feature multiple amenities including a luxury hotel with over 1,300 rooms, a large retail space, and a 20,000 square meter casino. This deal strengthens Agilysys' position in the Asia-Pacific region.

Agilysys reported record revenue of $47.7 million for fiscal 2023 Q2, a 26% increase from $37.9 million in the prior year. Recurring revenue reached $29 million, making up 60.8% of total revenue, with subscription revenue growth of 28.6%. Net income was $3.1 million or $0.12 per share, up from $0.5 million or $0.02 per share year-over-year. Adjusted EBITDA improved to $7.4 million, while free cash flow decreased to $2.3 million. The company reiterated its FY23 revenue guidance of $190 million to $195 million, with strong expectations for the second half of the fiscal year.

Agilysys, a global hospitality software solutions provider, will participate in the Hospitality Network Stakeholders Conference from October 18-20 in Dubai, UAE. The event aims to foster discussions on significant technology trends in hospitality. Attendees can engage with Agilysys in one-on-one meetings, exploring their comprehensive solutions that enhance guest experiences. The conference will feature over 150 stakeholders and industry experts, focusing on innovation and upcoming projects in hospitality. Agilysys emphasizes the importance of technology in delivering a world-class guest experience.

Agilysys, Inc. (AGYS) will release its fiscal 2023 second quarter results on October 25, 2022, after market close. A conference call and webcast are scheduled for 4:30 p.m. ET, open to the public. Participants must register to receive dial-in instructions. Agilysys is known for its hospitality software solutions aimed at maximizing Return on Experience (ROE) for various sectors, including hotels, casinos, and hospitals. The company's flagship offering, the Agilysys Hospitality Cloud™, integrates core operational systems with Experience Enhancers™ to improve guest interactions.

Agilysys (AGYS) has recently been recognized with three prestigious awards in the gaming sector, underscoring its leadership in hospitality software solutions. The awards highlight the effectiveness of its IG OnDemand mobile ordering and payment system, which enhances guest experiences and operational efficiency. These accolades include the Gaming & Leisure Partner Award, the Gaming & Leisure Transportation Award, and a Silver Award from Global Gaming Business magazine. Agilysys continues to demonstrate its commitment to improving guest satisfaction and driving revenue for hospitality businesses.

Agilysys has partnered with Morongo Casino Resort and Spa to implement self-service kiosk technology for dining. This innovation allows guests to make dining reservations and payments at any time, addressing staffing shortages and enhancing guest experiences. With this technology, Morongo has reported an increase in food and beverage revenue by improving service efficiency and decreasing wait times. Moreover, the integration of data analytics enables better understanding of guest spending patterns, further optimizing revenue opportunities for the casino.

Agilysys is set to showcase innovative technology solutions for the hospitality industry during the Global Gaming Expo (G2E) on October 11. This follows the gaming sector's forecasted revenue increase to $876 billion in 2022, up from $747.9 billion. The event will address staffing challenges faced by properties and demonstrate mobile and kiosk-based software to enhance guest experience and boost revenue. CEO Ramesh Srinivasan emphasizes the importance of optimizing experiences to maintain guest satisfaction.

Agilysys has been shortlisted for three categories at the UK Business Tech Awards 2022, highlighting its role in hospitality technology. The categories include Property Tech of the Year, SaaS Company of the Year, and Tech Company of the Year for medium-sized firms. This recognition underscores the significance of hospitality technology in the UK's tech landscape. With travel returning, Agilysys aims to enhance guest experiences through its comprehensive Agilysys Hospitality Cloud, providing tailored solutions for hospitality operators.