American Software, Inc. (NASDAQ:AMSWA) Q1 2023 Earnings Conference Call August 24, 2022 5:00 PM ET

Company Participants

Vincent Klinges – CFO

Allan Dow - President and CEO

Conference Call Participants

Matt Pfau - William Blair

Matthew Galinko - Maxim Group

Zachary Cummins - B. Riley Securities

Anja Soderstrom - Sidoti

Operator

Good day, everyone, and welcome to today's First Quarter Fiscal Year '23 Preliminary Financial Results. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. Please note, today's call may be recorded and I will be standing by should you need any assistance.

It is now my pleasure to turn the conference over to Vince Klinges, CFO of American Software.

Vincent Klinges

Thank you, Glory, and good afternoon, everyone, and welcome to American Software's first 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'll 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 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 in the 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'd like to turn the call over to Allan for opening remarks.

Allan Dow

Thank you, Vince.

I'm pleased to report that our first quarter results were in line with expectations. As such, we're on track to meet the guidance we provided on the last call. We achieved 8% year-over-year revenue growth in our Supply Chain Management segment during the quiet summer months where we traditionally see downward pressure on consulting services. Our subscription revenue growth remained solid at 23% and we are especially encouraged by the continued growth in our pipeline and the trust our clients place in us to help them stay on top of emerging technology trends.