Agilysys, Inc. (NASDAQ:AGYS) Q2 2024 Earnings Call Transcript October 23, 2023 4:30 PM ET

Company Participants

Jessica Hennessy - Senior Director of Corporate Strategy and IR

Ramesh Srinivasan - President and CEO

Dave Wood - CFO

Conference Call Participants

Mayank Tandon - Needham

Matthew VanVliet - BTIG

George Sutton - Craig-Hallum

Ari Friedman - Oppenheimer

Nehal Chokshi - Northland Capital Markets

Operator

Good day, ladies and gentlemen, and welcome to the Agilysys Fiscal 2024 Second Quarter Conference Call. As a reminder, today's conference 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, Victor, and good afternoon everybody. Thank you for joining the Agilysys fiscal 2024 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 Perform 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 effects of global economic factors on our business, the hospitality industry's need for technology solutions, our ability to drive sales, our ability to increase profitability, and our ability to improve services margins and manage increased cost investments and the risks set forth in the company's reports on Form 10-K and 10-Q, and other reports filed with 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 2024 second quarter earnings call. Joining Jess and me on the call today at our Alpharetta, Atlanta headquarters is Dave Wood, CFO.

As has become the regular practice in our earnings calls, let me cover the selling success summary first, before moving on to revenue and other details. We measure of sales of selling success in net annual contract value, ACV, of sales agreements won and signed. Fiscal 2024 Q2 July to September was one of our best ever sales success quarters. Overall, fiscal 2024 April to September was our best first half of fiscal year sales, comfortably better than the first half last year.