American Software, Inc. (NASDAQ:AMSWA) Q3 2023 Earnings Conference Call February 23, 2023 5:00 PM ET

Company Participants

Vince Klinges - Chief Financial Officer

Allan Dow - President and Chief Executive Officer

Conference Call Participants

Ethan Widell - B. Riley Securities

Matthew Galinko - Maxim Group

Anja Soderstrom - Sidoti

Operator

Good day, everyone and welcome to today’s American Software Third Quarter Fiscal Year 2023 Preliminary Earnings Results. [Operator Instructions] Please note, today’s call may be recorded. It is now my pleasure to turn the conference over to your CFO of American Software, Vince Klinges. Please go ahead.

Vince Klinges

Thank you, Cloe and good afternoon everyone and welcome to American Software’s third quarter fiscal 2023 earnings conference call. On the call with me is Allan Dow, President and CEO of American Software. Allan will provide some opening remarks and then I will review the numbers.

But first, our Safe Harbor statement. This conference call may contain forward-looking statements, including statements regarding, among other things, our business strategy and growth strategy. Any such forward-looking statements speak only as of this date. These forward-looking statements are based largely on our expectations and are subject to a number of risks and uncertainties, some of which cannot be predicted or quantified and are beyond our control.

Future developments and actual results could differ materially from those set forth in or contemplated by or underlying the forward-looking statements. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made on this call. Such factors include, but are not limited to, changes and uncertainty in general economic conditions, the growth rate of the market for our products and services, the timely availability and market acceptance of these products and services, the effect of competitive products and pricing and other competitive pressures and the irregular and unpredictable pattern of revenues. In light of these risks and uncertainties, there can be no assurance that the forward-looking information will prove to be accurate.

At this time, I will turn the call over to Allan for our opening remarks.

Allan Dow

Thank you, Vince. We delivered strong cloud revenue growth and adjusted EBITDA in our third quarter results. Similar to last quarter, our revenue was mostly in line with expectations with the exception of our professional services revenue where we were affected by a few factors, which I will address in a few minutes.