(RTTNews) - Hospitality software provider Agilysys Inc. (AGYS) on Monday reported sharply higher fourth-quarter profit, driven by strong subscription revenue growth and rising demand for its hospitality-focused software solutions.
Net income surged to $12.29 million, or $0.43 per share, from $3.93 million, or $0.14 per share, in the year-ago quarter.
Adjusted net income increased to $17.97 million, or $0.63 per share, from $15.23 million, or $0.54 per share, last year.
Revenue rose 11.7% to a record $82.95 million from $74.27 million a year earlier, marking the company's 17th consecutive record revenue quarter. Subscription and maintenance revenue climbed to $54.36 million from $46.2 million, while subscription revenue increased to $18.2 million from $17.8 million last year.
Gross margin improved to 64.4% from 60.7%.
Looking ahead, Agilysys expects fiscal 2027 revenue in the range of $365 million to $370 million, including subscription revenue growth of at least 30%.
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