Agilysys, Inc. (NASDAQ:AGYS) Q2 2023 Results Conference Call October 25, 2022 4:30 PM ET

Company Participants

Jessica Hennessy - Senior Director, Corporate Strategy and IR

Ramesh Srinivasan - President and CEO

Dave Wood - CFO

Conference Call Participants

Matthew VanVliet - BTIG

George Sutton - Craig-Hallum

Nehal Chokshi - Northland Capital Markets

Operator

Good day, ladies and gentlemen, and welcome to the Agilysys’ Fiscal 2023 Second Quarter Conference Call. As a reminder, today's conference call may be recorded.

I would now like to turn the conference over to Jessica Hennessy, Senior Director of Corporate Strategy and Investor Relations at Agilysys. You may begin.

Jessica Hennessy

Thank you, Justin and good afternoon everybody. Thank you for joining the Agilysys fiscal 2023 second quarter conference call. We will get started in just a minute with management's comments. But before doing so, let me read the Safe Harbor language.

Some statements made on today's call will be predictive and are intended to be made as forward-looking within the Safe Harbor protections of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial guidance.

Although, the company believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause results to differ materially.

Important factors that could cause actual results to vary materially from these forward-looking statements include the continued effects of the COVID-19 pandemic and other global economic factors on our business, our ability to continue profitable growth, and the risks set forth in the company's reports on Form 10-K and 10-Q and other reports filed within the Securities and Exchange Commission.

As a reminder, any references to record financial and business levels during this call refer only to the time period after Agilysys made the transformation to an entirely hospitality-focused software solutions company in fiscal year 2014.

With that, I'd now like to turn the call over to Mr. Ramesh Srinivasan, President and CEO of Agilysys. Ramesh, please go ahead.

Ramesh Srinivasan

Thank you, Jess. Good evening. Welcome to the fiscal 2023 second quarter earnings call. Joining Jess and me on the call today at our Atlanta headquarters is Dave Wood, our CFO.

Let me first cover sales and what we are seeing in the overall market before moving to revenue and other details. We measure sales or selling success based on annual contract value of sales agreements won and signed. After five consecutive quarters of solid good sales quarters as reported during the previous earnings call, this July to September, Q2 of fiscal 2023 was a great sales quarter, possibly representing the first phase of growth breakthrough we have been building towards for a while now.