Agilysys (AGYS) 10-K 19 May 23 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	May 12, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	AGILYSYS, INC.
Entity Central Index Key	0000078749
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		25,336,098
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	AGYS
Security Exchange Name	NASDAQ
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	000-5734
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-0907152
Entity Address, Address Line One	1000 Windward Concourse
Entity Address, Address Line Two	Suite 250
Entity Address, City or Town	Alpharetta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30005
City Area Code	770
Local Phone Number	810-7800
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 868,707,955
Documents Incorporated by Reference	Portions of the registrant's definitive Proxy Statement to be used in connection with its 2023 Annual Meeting of Shareholders are incorporated by reference into Part III of this Form 10-K.
Auditor Name	GRANT THORNTON LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	248

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 112,842	$ 96,971
Accounts receivable, net of allowance for expected credit losses of $610 and $318, respectively	22,378	25,175
Contract assets	2,242	1,669
Inventories	9,774	6,940
Prepaid expenses and other current assets	7,422	5,418
Total current assets	154,658	136,173
Property and equipment, net	14,576	6,345
Operating lease right-of-use assets	12,708	9,889
Goodwill	32,638	32,759
Intangible assets, net	18,140	20,178
Deferred income taxes, non-current	2,790	2,664
Other non-current assets	7,526	6,154
Total assets	243,036	214,162
Accrued liabilities:
Accounts payable	9,418	9,766
Contract liabilities	52,124	46,095
Accrued liabilities	13,708	10,552
Operating lease liabilities, current	3,263	5,049
Finance lease obligations, current	2	4
Total current liabilities	78,515	71,466
Deferred income taxes, non-current	2,257	938
Operating lease liabilities, non-current	13,477	5,649
Finance lease obligations, non-current	0	2
Other non-current liabilities	4,018	3,304
Commitments and contingencies (see Note 11)
Shareholders' equity:
Common shares, without par value, at $0.30 stated value; 80,000,000 shares authorized; 31,606,831 shares issued; and 25,326,626 and 24,728,532 shares outstanding at March 31, 2023 and March 31, 2022, respectively	9,482	9,482
Treasury shares, 6,280,205 and 6,878,299 at March 31, 2023 and March 31, 2022, respectively	(1,884)	(2,063)
Capital in excess of stated value	52,978	49,963
Retained earnings	52,764	40,018
Accumulated other comprehensive loss	(4,030)	(56)
Total shareholders' equity	109,310	97,344
Total liabilities and shareholders' equity	243,036	214,162
Series A Convertible Preferred Stock [Member]
Other non-current liabilities:
Series A convertible preferred stock, no par value	$ 35,459	$ 35,459

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Statement of Financial Position [Abstract]
Allowance for expected credit losses	$ 610	$ 318
Common stock, stated value	$ 0.30	$ 0.30
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	31,606,831	31,606,831
Common stock, shares outstanding	25,326,626	24,728,532
Treasury shares	6,280,205	6,878,299

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Net revenue:
Total net revenue	$ 198,065	$ 162,636	$ 137,176
Cost of goods sold:
Total cost of goods sold	77,246	61,104	47,800
Gross profit	$ 120,819	$ 101,532	$ 89,376
Gross profit margin	61%	62.40%	65.20%
Operating expenses:
Product development	$ 50,260	$ 46,332	$ 55,345
Sales and marketing	22,716	14,730	14,196
General and administrative	30,669	27,734	33,273
Depreciation of fixed assets	1,769	2,210	2,832
Amortization of internal-use software and intangibles	1,743	1,654	1,959
Other charges	435	1,584	2,529
Legal settlements	352	969	200
Total operating expense	107,944	95,213	110,334
Operating income (loss)	12,875	6,319	(20,958)
Other income (expense):
Interest income	2,192	59	107
Interest expense	0	(12)	(20)
Other income (expense), net	697	145	(338)
Income (loss) before taxes	15,764	6,511	(21,209)
Income tax expense (benefit)	1,182	33	(208)
Net income (loss)	14,582	6,478	(21,001)
Series A convertible preferred stock issuance costs			(1,031)
Series A convertible preferred stock dividends	(1,836)	(1,836)	(1,576)
Net income (loss) attributable to common shareholders	$ 12,746	$ 4,642	$ (23,608)
Weighted average shares outstanding - basic	24,694	24,357	23,458
Net income (loss) per share - basic	$ 0.52	$ 0.19	$ (1.01)
Weighted average shares outstanding - dilted	25,929	25,483	23,458
Net income (loss) per share - diluted:	$ 0.49	$ 0.18	$ (1.01)
Products [Member]
Net revenue:
Total net revenue	$ 43,638	$ 35,956	$ 26,714
Cost of goods sold:
Total cost of goods sold	22,994	19,251	13,506
Subscription and maintenance [Member]
Net revenue:
Total net revenue	118,285	98,958	88,565
Cost of goods sold:
Total cost of goods sold	26,262	21,141	17,985
Professional services [Member]
Net revenue:
Total net revenue	36,142	27,722	21,897
Cost of goods sold:
Total cost of goods sold	$ 27,990	$ 20,712	$ 16,309

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 14,582	$ 6,478	$ (21,001)
Other comprehensive (loss), net of tax:
Unrealized foreign currency translation adjustments	(3,974)	(95)	(162)
Total comprehensive income (loss)	$ 10,608	$ 6,383	$ (21,163)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income (loss)	$ 14,582	$ 6,478	$ (21,001)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on disposal of property & equipment	66	195	44
Depreciation of fixed assets	1,769	2,210	2,832
Amortization of internal-use software and intangibles	1,743	1,654	1,959
Deferred income taxes	(181)	(925)	(959)
Share-based compensation	12,958	14,549	40,093
Changes in operating assets and liabilities:
Accounts receivable	2,537	2,551	10,363
Contract assets	(590)	684	(228)
Inventories	(2,897)	(5,764)	2,746
Prepaid expense and other current assets	(2,084)	(484)	(201)
Accounts payable	(1,582)	3,417	(7,016)
Contract liabilities	6,383	4,902	(3,971)
Accrued liabilities	2,711	146	1,187
Income taxes payable	290	50	340
Other changes, net	(1,242)	(1,188)	2,219
Net cash provided by operating activities	34,463	28,475	28,407
Investing activities
Capital expenditures	(7,238)	(1,197)	(1,389)
Cash paid for business combinations, net of cash acquired	395	(24,455)	0
Additional investments in corporate-owned life insurance policies	(27)	(27)	(2)
Net cash used in investing activities	(6,870)	(25,679)	(1,391)
Financing activities
Preferred stock issuance proceeds, net of issuance costs	0	0	33,969
Payment of preferred stock dividends	(1,836)	(1,836)	(1,117)
Repurchase of common shares to satisfy employee tax withholding	(9,254)	(3,046)	(7,512)
Principal payments under long-term obligations	(4)	(19)	(24)
Net cash (used in) provided by financing activities	(11,094)	(4,901)	25,316
Effect of exchange rate changes on cash	(628)	(104)	195
Net increase (decrease) in cash and cash equivalents	15,871	(2,209)	52,527
Cash and cash equivalents at beginning of period	96,971	99,180	46,653
Cash and cash equivalents at end of period	$ 112,842	$ 96,971	$ 99,180

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock [Member]	Treasury stock [Member]	Capital in excess of stated value [Member]	Retained Earnings [Member]	Accumulated other comprehensive income (loss) [Member]
Beginning balance at Mar. 31, 2020	$ 71,757	$ 9,482	$ (2,401)	$ 5,491	$ 58,984	$ 201
Beginning balance (in shares) at Mar. 31, 2020		31,607	(7,997)
Share-based compensation	40,066			40,066
Restricted shares issued, net			$ 28	(28)
Restricted shares issued, net (in shares)			90
Shares Issued Upon Exercise of SSARs			$ 141	(141)
Shares issued upon exercise of SSARs, Shares			467
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	(8,177)		$ (46)	(8,131)
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares (in shares)			(156)
Net income (loss)	(21,001)				(21,001)
Series A convertible preferred stock issuance costs	(1,031)				(1,031)
Series A convertible preferred stock dividends	(1,576)				(1,576)
Unrealized translation adjustments	(162)					(162)
Ending balance at Mar. 31, 2021	79,876	$ 9,482	$ (2,278)	37,257	35,376	39
Ending balance (in shares) at Mar. 31, 2021		31,607	(7,596)
Share-based compensation	14,549			14,549
Restricted shares issued, net			$ 34	(34)
Restricted shares issued, net (in shares)			113
Shares Issued Upon Exercise of SSARs			$ 190	(190)
Shares issued upon exercise of SSARs, Shares			636
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	(1,628)		$ (9)	(1,619)
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares (in shares)			(32)
Net income (loss)	6,478				6,478
Series A convertible preferred stock dividends	(1,836)				(1,836)
Unrealized translation adjustments	(95)					(95)
Ending balance at Mar. 31, 2022	97,344	$ 9,482	$ (2,063)	49,963	40,018	(56)
Ending balance (in shares) at Mar. 31, 2022		31,607	(6,879)
Share-based compensation	12,778			12,778
Restricted shares issued, net			$ 99	(99)
Restricted shares issued, net (in shares)			331
Shares Issued Upon Exercise of SSARs			$ 121	(121)
Shares issued upon exercise of SSARs, Shares			403
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares	(9,584)		$ (41)	(9,543)
Shares withheld for taxes upon exercise of SSARs or vesting of restricted shares (in shares)			(135)
Net income (loss)	14,582				14,582
Series A convertible preferred stock dividends	(1,836)				(1,836)
Unrealized translation adjustments	(3,974)					(3,974)
Ending balance at Mar. 31, 2023	$ 109,310	$ 9,482	$ (1,884)	$ 52,978	$ 52,764	$ (4,030)
Ending balance (in shares) at Mar. 31, 2023		31,607	(6,280)

Nature of Operations

Nature of Operations	12 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations Agilysys has been a leader in hospitality software for more than 40 years, delivering innovative cloud-native SaaS and on-premise solutions for hotels, resorts and cruise lines, casinos, corporate foodservice management, restaurants, universities, stadiums, and healthcare. The Company’s software solutions include point-of-sale (POS), property management (PMS), inventory and procurement, payments, and related applications that manage and enhance the entire guest journey. Agilysys is also known for its world-class customer-centric service. Many of the top hospitality companies around the world use Agilysys solutions to improve guest loyalty, drive revenue growth, and increase operational efficiencies. Agilysys operates across North America, Europe, the Middle East, Asia-Pacific, and India, with headquarters in Alpharetta, GA. The Company has just one reportable segment serving the global hospitality industry. Reference herein to any particular year or quarter refers to periods within the fiscal year ended March 31. For example, fiscal 2023 refers to the fiscal year ended March 31, 2023 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of consolidation. The consolidated financial statements include the accounts of Agilysys, Inc. and subsidiaries. Investments in affiliated companies are accounted for by the equity or cost method, as appropriate. All inter-company accounts have been eliminated. Use of estimates. Preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates. Cash and cash equivalents. We consider all highly liquid investments purchased with an original maturity from date of acquisition of three months or less to be cash equivalents. Other highly liquid investments considered cash equivalents with no established maturity date are fully redeemable on demand (without penalty) with settlement of principal and accrued interest on the same or following business day after instruction to redeem. Cash equivalent investments are readily convertible to cash with no penalty and can include certificates of deposit, commercial paper, treasury bills, money market funds and other investments. Commercial paper cash equivalents totaled $ 5.0 million and $ 15.0 million as of March 31, 2023 and March 31, 2022, respectively. We determine the fair value of commercial paper using significant other observable inputs (level 2) based on pricing from independent sources that use quoted prices in active markets for identical assets or other observable inputs including benchmark yields and interest rates. Allowance for expected credit losses. We maintain allowances for expected credit losses for estimated losses resulting from the inability or unwillingness of our customers to make required payments. We base our expected credit loss model on historical experience, adjusted for current conditions and reasonable and supportable forecasts. To help mitigate the associated credit risk we perform periodic credit evaluations of our customers. Customer credit allowance . We maintain allowances for estimated customer credits. Credits are typically due to the timing or amount of customer invoices processed for specific services, including professional and subscription, and maintenance coverage. In many cases, there has not been clear or timely communication of the need to adjust coverage or service at a location in advance of when we invoice for the associated coverage or service. We will issue a credit after agreeing to the service or coverage adjustment as requested by the customer within the terms of our contract. Inventories. Our inventories are comprised of finished goods. Inventories are stated at the lower of cost or net realizable value, net of related reserves. The cost of inventory is computed using a weighted-average method. Our inventory is monitored to ensure appropriate valuation. Adjustments of inventories to the lower of cost or net realizable value, if necessary, are based upon contractual provisions such as turnover and assumptions about future demand and market conditions. If assumptions about future demand change and/or actual market conditions are less favorable than those projected by management, additional adjustments to inventory valuations may be required. We provide a reserve for obsolescence, which is calculated based on several factors, including an analysis of historical sales of products and the age of the inventory. Actual amounts could be different from those estimated. Leases. We determine if an arrangement is or contains a lease at inception. Operating leases are presented as Right-of-Use (“ROU”) assets and the corresponding lease liabilities are included in operating lease liabilities – current and operating lease liabilities – non-current on our Consolidated Balance Sheet. Finance leases are included in property and equipment, net and corresponding liabilities are included in finance lease obligations – current and non-current on our Consolidated Balance Sheet. ROU assets represent our right to use the underlying asset, and lease liabilities represent our obligation for lease payments in exchange for the ability to use the asset for the duration of the lease term. ROU assets and lease liabilities are recognized at commencement date and determined using the present value of the remaining lease payments over the lease term. We use an incremental borrowing rate based on estimated rate of interest for collateralized borrowing since our leases do not include an implicit interest rate. The estimated incremental borrowing rate considers market data, actual lease economic environment, and actual lease term at commencement date. The lease term may include options to extend when it is reasonably certain that we will exercise that option. ROU assets include lease payments made in advance, and excludes any incentives received or initial direct costs incurred. We recognize lease expense on a straight-line basis over the lease term and sublease income on a straight-line basis over the sublease term. We have lease agreements with lease and non-lease components which we account for as a single lease component. We also have leases which include variable lease payments, which are expensed as incurred. Our variable lease payments are not based on an index or rate and therefore are excluded from the calculation of lease liabilities. We have elected to not recognize short term leases that have a term of twelve months or less as ROU assets or lease liabilities. Our short-term leases are not material and do not have a material impact on our ROU assets or lease liabilities. Additionally, we do not have any covenants, residual value guarantees, or related party transactions associated with our lease agreements. Goodwill and other indefinite-lived intangible assets. Goodwill represents the excess purchase price paid over the fair value of the net assets of acquired companies. As of March 31, 2023 and 2022, the carrying amount of goodwill was $ 32.6 million and $ 32.8 million, respectively. Goodwill is tested for impairment on an annual basis, or in interim periods if indicators of potential impairment exist, based on our one reporting unit. The Company evaluates whether goodwill is impaired by comparing its market capitalization based on its closing stock price (Level 1 input) to the book value of its equity on the annual evaluation date. The Company is also required to compare the fair values of other indefinite-lived intangible assets to their carrying amounts at least annually, or when current events and circumstances require an interim assessment. The Company concluded that no impairment of its goodwill and other indefinite-lived assets has occurred for the years ended March 31, 2023, 2022 and 2021 . Acquired intangible assets. Acquired intangible assets include identifiable customer relationships, non-competition agreements, developed technology, and trade names. We amortize the cost of finite-lived identifiable intangible assets over their estimated useful lives, which are periods of 15 years or less, primarily on a straight-line basis, which we believe approximates the pattern in which the assets are utilized. The fair values assigned to identifiable intangible assets acquired in business combinations are determined primarily by using the income approach, which discounts expected future cash flows attributable to these assets to present value using estimates and assumptions determined by management. Long-lived assets. Property and equipment are recorded at cost. Major renewals and improvements are capitalized. Minor replacements, maintenance, repairs, and reengineering costs are expensed as incurred. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized. Depreciation and amortization are provided in amounts sufficient to amortize the cost of the assets, including assets recorded under finance leases, which make up less than one percent of total assets, over their estimated useful lives using the straight-line method. The estimated useful lives for depreciation and amortization are as follows: buildings and building improvements – 7 to 30 years ; furniture – 7 to 10 years ; equipment – 3 to 10 years ; software – 3 to 10 years ; and leasehold improvements over the shorter of the economic life or the lease term. Internal use software costs are expensed or capitalized depending on the project stage. Amounts capitalized are amortized over the estimated useful lives of the software, ranging from 3 to 10 years, beginning with the project’s completion. Depreciation for capitalized project expenditures does not begin until the underlying project is completed. We evaluate the recoverability of our long-lived assets whenever changes in circumstances or events may indicate that the carrying amounts may not be recoverable. An impairment loss is recognized in the event the carrying value of the assets exceeds the future undiscounted cash flows attributable to such assets. Our long-lived assets and impairments considerations are discussed further in Note 4, Property and Equipment, Net. Foreign currency translation. The financial statements of our foreign operations are translated into U.S. dollars for financial reporting purposes. The assets and liabilities of foreign operations whose functional currencies are not in U.S. dollars are translated at the period-end exchange rates, while revenue and expenses are translated at weighted-average exchange rates during the fiscal year. The cumulative translation effects are reflected as a component of “Accumulated other comprehensive income (loss)” within shareholders’ equity in the Consolidated Balance Sheets. Gains and losses on monetary transactions denominated in other than the functional currency of an operation are reflected within “Other (income) expenses, net” in the Consolidated Statements of Operations. Foreign currency gains and losses from changes in exchange rates have not been material to our consolidated operating results. Revenue recognition. We derive revenue from the sale of products (proprietary software licenses, third party hardware and operating systems), subscription and maintenance, and professional services. For the fiscal years 2023, 2022 and 2021, revenue from international operations was 7 % , 7 % and 8 %, respectively of total revenue. Our customer base is highly fragmented. Our customary business practice is to enter into legally enforceable written contracts with our customers. The majority of our contracts are governed by a master service agreement between us and the customer, which sets forth the general terms and conditions of any individual contract between the parties, which is then supplemented by a customer order to specify the different goods and services, the associated prices, and any additional terms for an individual contract. Performance obligations specific to each individual contract are defined within the terms of each order. Each performance obligation is identified based on the goods and services that will be transferred to our customer that are both capable of being distinct and are distinct within the context of the contract. The transaction price is determined based on the consideration to which we will be entitled and expect to receive in exchange for transferring goods or services to the customer. Typically, our contracts do not provide our customer with any right of return or refund; we do not constrain the contract price as it is probable that there will not be a significant revenue reversal due to a return or refund. Typically, our customer contracts contain one or more of the following goods or services which constitute performance obligations. Our proprietary software licenses typically provide for a perpetual right to use our software. Generally, our contracts do not provide significant services of integration and customization and installation services are not required to be purchased directly from us. The software is delivered before related services are provided and is functional without professional services, updates and technical support. We have concluded that the software license is distinct as the customer can benefit from the software on its own. Software revenue is typically recognized when the software is delivered or made available for download to the customer. We recognize revenue for hardware sales when the product is shipped to the customer and when obligations that affect the customer’s final acceptance of the arrangement have been fulfilled. Hardware is purchased from suppliers and provided to the end-user customers via drop-ship or from inventory. We are responsible for negotiating price both with the supplier and the customer, payment to the supplier, establishing payment terms and product returns with the customer, and we bear the credit risk if the customer does not pay for the goods. As the principal contact with the customer, we recognize revenue and cost of goods sold when we ship or are notified by the supplier that the product has been shipped. In certain limited instances, as shipping terms dictate, revenue is recognized upon receipt at the point of destination or upon installation at the customer site. Our subscription service revenue is comprised of fees for contracts that provide customers a right to access our software for a subscribed period. We do not provide the customer the contractual right to license the software at any time outside of the subscription period under these contracts. Our subscription service revenue is primarily based on rates per location, including rates per points of sale and per room. We recognize certain subscription service revenue on a per-transaction basis. The customer can only benefit from the software and software maintenance when provided the right to access the software. Accordingly, each of the rights to access the software, the maintenance services, any hosting services, and any transaction-based services is not considered a distinct performance obligation in the context of the contract and should be combined into a single performance obligation to be recognized over the contract period. The Company recognizes subscription revenue over a one-month period based on the typical monthly invoicing and renewal cycle in accordance with our customer agreement terms. We derive maintenance service revenue from providing unspecified updates, upgrades, bug fixes, and technical support services for our proprietary software. These services represent a stand-ready obligation that is concurrently delivered and has the same pattern of transfer to the customer; we account for these maintenance services as a single performance obligation. Maintenance revenue includes the same services provided by third-parties for remarketed software. We recognize substantially all maintenance revenue over the contract period of the maintenance agreement. We also recognize certain maintenance service revenue based on the volume of payment transactions processed by third parties through access to our software. Professional services revenues primarily consist of fees for consulting, installation, integration and training and are generally recognized over time as the customer simultaneously receives and consumes the benefits of the professional services as the services are being performed. Professional services can be provided by internal or external providers, do not significantly affect the customer’s ability to access or use other provided goods or services, and provide a measure of benefit beyond that of other promised goods or services in the contract. As a result, professional services are considered distinct in the context of the contract and represent a separate performance obligation. Professional services that are billed on a time and materials basis are recognized over time as the services are performed. For contracts billed on a fixed price basis, revenue is recognized over time using an input method based on labor hours expended to date relative to the total labor hours expected to be required to satisfy the related performance obligation. We use the market approach to derive standalone selling price (“SSP”) by maximizing observable data points (in the form of recently executed customer contracts) to determine the price customers are willing to pay for the goods and services transferred. If the contract contains a single performance obligation, the entire transaction price is allocated to that performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative SSP basis. Shipping and handling fees billed to customers are recognized as revenue and the related costs are recognized in cost of goods sold. Revenue is recorded net of any applicable taxes collected and remitted to governmental agencies. Comprehensive income (loss). Comprehensive income (loss) is the total of net income (loss), as currently reported under GAAP, plus other comprehensive income (loss). Other comprehensive income (loss) considers the effects of additional transactions and economic events that are not required to be recorded in determining net income (loss), but rather are reported as a separate statement of comprehensive income (loss). Fair value measurements. We measure the fair value of financial assets and liabilities on a recurring or non-recurring basis. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. In determining fair value of financial assets and liabilities, we use various valuation techniques. Investments in corporate-owned life insurance policies. Agilysys invests in corporate-owned life insurance policies, for which some are endorsement split-dollar life insurance arrangements. We entered into agreements with certain former executives, whereby we must maintain the life insurance policy for a specified amount and split a portion of the policy benefits with their respective designated beneficiary. Our investment in these corporate-owned life insurance policies were recorded at their cash surrender value, which approximates fair value at the balance sheet date. In the Consolidated Balance Sheets at the balance sheet date, the cash surrender value of $ 1.0 million for the remaining policies were held in “Other non-current assets,” and the present value of future proceeds owed to those executives’ designated beneficiary of $ 0.1 million, which approximates fair value, were recorded within “Other non-current liabilities.” Additional information regarding the investments in corporate-owned life insurance policies is provided in Note 10, Employee Benefit Plans . Income Taxes. Income tax expense includes U.S. and foreign income taxes and is based on reported income before income taxes. We recognize deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities are determined based on the enacted tax rates expected to apply in the periods in which the deferred tax assets or liabilities are anticipated to be settled or realized. We regularly review our deferred tax assets for recoverability and establish a valuation allowance if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The determination as to whether a deferred tax asset will be realized is made on a jurisdictional basis and is based on the evaluation of positive and negative evidence. This evidence includes historical taxable income, projected future taxable income, the expected timing of the reversal of existing temporary differences and the implementation of tax planning strategies. We recognize the tax benefit from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from uncertain tax positions are measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No tax benefits are recognized for positions that do not meet this threshold. Interest related to uncertain tax positions is recognized as part of the provision for income taxes and is accrued beginning in the period that such interest would be applicable under relevant tax law until such time that the related tax benefits are recognized. Our income taxes are described further in Note 9, Income Taxes . Advertising and Promotion Expense. We expense advertising and promotion expense as incurred. Advertising and promotion expense was $ 4.8 million , $ 2.6 million and $ 0.4 million in fiscal 2023, 2022 and 2021 , respectively . Accounting Pronouncements Management continually evaluates the potential impact, if any, of all recent accounting pronouncements on our consolidated financial statements or related disclosures and, if significant, makes the appropriate disclosures required by such new accounting pronouncements.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. Revenue Recognition For in depth discussion regarding our revenue recognition procedures for our revenue streams, see Note 2, Summary of Significant Accounting Policies . Disaggregation of Revenue We derive and report our revenue from the sale of products (proprietary software licenses, third party hardware and operating systems), subscription and maintenance, and professional services. Revenue recognized at a point in time (products) totaled $ 43.6 million , $ 36.0 million, and $ 26.7 million during fiscal 2023, 2022 and 2021. Revenue recognized over time (subscription and maintenance, and professional services) totaled $ 154.4 million , $ 126.7 million, and $ 110.5 million during fiscal 2023, 2022, and 2021. Contract Balances Contract assets are rights to consideration in exchange for goods or services that we have transferred to a customer when that right is conditional on something other than the passage of time. The majority of our contract assets represent unbilled amounts related to products and professional services. We expect billing and collection of our contract assets to occur within the next twelve months. We receive payments from customers based upon contractual billing schedules and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities represent consideration received or consideration which is unconditionally due from customers prior to transferring goods or services to the customer under the terms of the contract. Revenue recognized from amounts included in contract liabilities at the beginning of the period was $ 45.3 million and $ 38.1 million during fiscal 2023 and 2022. During fiscal 2023 and 2022, we transferred from contract assets at the beginning of the period, $ 1.7 million and $ 2.4 million , respectively, to accounts receivable because the right to the transaction became unconditional. Our arrangements are for a period of one year or less. As a result, unsatisfied performance obligations as of March 31, 2023 are expected to be satisfied and the allocated transaction price recognized in revenue within a period of 12 months or less. Assets Recognized from Costs to Obtain a Contract Sales commission expenses that would not have occurred absent the customer contracts are considered incremental costs to obtain a contract. We have elected to take the practical expedient available to expense the incremental costs to obtain a contract as incurred when the expected benefit and amortization period is one year or less. For subscription contracts that are renewed monthly based on an agreement term, we capitalize commission expenses and amortize as we satisfy the underlying performance obligations, generally based on the contract terms and anticipated renewals. For first year support and maintenance service contracts, commission expenses are immaterial and therefore expenses as incurred. Other sales commission expenses are not material or have a period of benefit of one year or less, and are therefore expensed as incurred in line with the practical expedient elected. We had $ 3.9 million and $ 3.3 million of capitalized sales incentive costs as of March 31, 2023 and 2022, respectively. These balances are included in other non-current assets on our Consolidated Balance Sheets. During fiscal 2023 and 2022, we expensed $ 3.6 million and $ 2.5 million , respectively, of sales commissions, which included amortization of capitalized amounts of $ 1.3 million and $ 1.2 million , respectively. These expenses are included in operating expenses – sales and marketing in our Consolidated Statement of Operations. All other costs to obtain a contract are not considered incremental and therefore are expensed as incurred.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net Property and equipment at March 31, 2023 and 2022 is as follows: Year ended March 31, (In thousands) 2023 2022 Furniture and equipment $ 12,097 $ 14,632 Software 15,989 16,338 Leasehold improvements 5,656 7,123 Facilities construction in progress 9,721 17 43,463 38,110 Accumulated depreciation and amortization ( 28,887 ) ( 31,765 ) Property and equipment, net $ 14,576 $ 6,345 Total depreciation expense on property and equipment was $ 1.8 million , $ 2.2 million, and $ 2.8 million during fiscal 2023, 2022 and 2021, respectively. The Company capitalizes internal-use software, including software purchased and used exclusively in providing services or that is only made available to customers as a software service, as property and equipment under ASC 350-40, Internal-Use Software . Total amortization expense on capitalized internal-use software was $ 0.6 million , $ 1.3 million and $ 2.0 million during fiscal 2023, 2022, and 2021, respectively. Assets under financing leases are included in property and equipment categories above and further disclosed with Note 6. Leases .

Intangible Assets and Software

Intangible Assets and Software Development Costs	12 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Software Development Costs	5. Intangible Assets, Goodwill, and Software Development Costs The following table summarizes our intangible assets and software development costs at March 31, 2023, and 2022: March 31, 2023 March 31, 2022 Gross Net Gross Net carrying Accumulated Accumulated carrying carrying Accumulated Accumulated carrying (In thousands) amount amortization Impairment amount amount amortization impairment amount Finite-lived intangible assets: Customer relationships $ 19,809 $ ( 11,529 ) $ — $ 8,280 $ 20,391 $ ( 10,938 ) $ — $ 9,453 Non-competition agreements 3,487 ( 3,192 ) — 295 3,547 ( 2,808 ) — 739 Developed technology 11,166 ( 10,590 ) — 576 11,224 ( 10,440 ) — 784 Trade names 1,015 ( 426 ) — 589 1,075 ( 273 ) — 802 Patented technology 80 ( 80 ) — — 80 ( 80 ) — — 35,557 ( 25,817 ) — 9,740 36,317 ( 24,539 ) — 11,778 Indefinite-lived trade names 8,400 N/A — 8,400 8,400 N/A — 8,400 Total intangible assets $ 43,957 $ ( 25,817 ) $ — $ 18,140 $ 44,717 $ ( 24,539 ) $ — $ 20,178 (In thousands) Software development costs $ 67,541 $ ( 45,535 ) $ ( 22,006 ) $ — $ 67,541 $ ( 45,535 ) $ ( 22,006 ) $ — During the year ended March 31, 2023, goodwill increased $ 0.8 million due to business combination activity and decreased $ 0.9 million due to foreign currency translation. During the year ended March 31, 2022, goodwill increased $ 13.1 million due to business combination activity. During the year ended March 31, 2023 , finite-lived intangible assets decreased $ 1.3 million due to amortization expense and decreased $ 0.8 million due to foreign currency translation. During the year ended March 31, 2022, finite-lived intangible assets increased $ 12.2 million due to business combination activity and $ 0.4 million due to amortization expense. See Note 15, Business Combination , for more information on business combination activity. Estimated future amortization expense on finite-lived intangible assets is as follows: (In thousands) Estimated Amortization Expense Fiscal year ending March 31, 2024 $ 1,208 2025 913 2026 913 2027 835 2028 602 Thereafter 5,269 Total $ 9,740 Indefinite-lived intangible assets, comprised of our purchased trade name InfoGenesis as of March 31, 2023 and 2022 are tested for impairment upon identification of impairment indicators or at least annually. An impairment loss is recognized if the carrying amount is greater than fair value. The InfoGenesis indefinite-lived purchased trade name impairment testing resulted in a fair value exceeding the carrying amount for the years ending March 31, 2023, 2022 and 2021 .

Leases

Leases	12 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	6. Leases The majority of our leases are comprised of real estate leases for our respective offices around the globe. Our finance leases consist of office equipment. We have no residual value guarantees or restrictions or covenants imposed by or associated with our active leases. During April 2023, we entered into a lease agreement for approximately $ 1.4 million that will commence in fiscal year 2024 with a lease term of approximately 3.5 years. We do not have any related party leases. We have variable payments for expenses such as common area maintenance and taxes. We do not have variable payments that are based on an index or rate. As a result, we do not include variable payments in the calculation of the lease liability. Any variable costs are expensed as incurred. We sublease one of our office leases located in Bellevue, Washington with a lease term that will expire during fiscal year 2024. The components of lease expenses, which are included in operating expenses in our Consolidated Statements of Operations, were as follows: Year ended March 31, (In thousands) 2023 2022 Operating leases expense $ 5,301 $ 4,752 Finance lease expense: Amortization of ROU assets 3 17 Interest on lease liabilities 1 2 Total finance lease expense 4 19 Variable lease costs 700 463 Short term lease expense 300 140 Sublease income ( 789 ) ( 782 ) Total lease expense $ 5,516 $ 4,592 Other information related to leases for fiscal 2023 and 2022 was as follows: Year ended March 31, Supplemental cash flow information 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 5,862 $ 5,536 Operating cash flows for finance leases 6 23 Financing cash flows for finance leases 4 19 ROU assets obtained in exchange for lease obligations (in thousands): Operating leases $ 8,292 $ 1,314 Weighted average remaining lease terms Operating leases 7.59 3.08 Finance leases 0.58 1.43 Weighted average discount rates Operating leases 6.44 % 7.62 % Finance leases 4.50 % 4.50 % The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the Consolidated Balance Sheet as of March 31, 2023: (In thousands) Operating leases (1) Finance leases Fiscal year ending March 31, 2024 $ 3,408 $ 2 2025 2,905 2026 2,726 2027 2,219 2028 1,431 Thereafter 8,816 Total undiscounted future minimum lease payments 21,505 2 Less: difference between undiscounted lease payments and discounted lease ( 4,765 ) — Total lease liabilities $ 16,740 $ 2 (1) Non-cancellable sublease proceeds for the fiscal year ending March 31, 2024 of $ 0.7 million is not included in the table above.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	12 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	7. Supplemental Disclosures of Cash Flow Information Additional information related to the Consolidated Statements of Cash Flows is as follows: Year ended March 31, (In thousands) 2023 2022 2021 Cash receipts for interest $ 1,917 $ 47 $ 87 Cash payments for income tax, net 1,163 787 459 Accrued capital expenditures 1,400 89 103

Additional Balance Sheet Inform

Additional Balance Sheet Information	12 Months Ended
	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Additional Balance Sheet Information	8. Additional Balance Sheet Information Additional information related to the Consolidated Balance Sheets is as follows: (In thousands) March 31, 2023 March 31, 2022 Accrued liabilities: Salaries, wages, and related benefits $ 11,170 $ 7,870 Other taxes payable 2,127 1,994 Professional fees 95 373 Other 316 315 Total $ 13,708 $ 10,552 Other non-current liabilities: Uncertain tax positions $ 1,178 $ 1,154 Employee benefit obligations 2,742 2,037 Other 98 113 Total $ 4,018 $ 3,304

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes For the year ended March 31, income (loss) before income taxes consisted of the following: (In thousands) 2023 2022 2021 Income (loss) before income taxes United States $ 14,526 $ 1,598 $ ( 26,272 ) Foreign 1,238 4,913 5,063 Total income (loss) before income taxes $ 15,764 $ 6,511 $ ( 21,209 ) For the year ended March 31, income tax expense (benefit) consisted of the following: (In thousands) 2023 2022 2021 Income tax expense (benefit) Current: Federal $ 87 $ 62 $ 9 State and local 277 21 30 Foreign 1,070 853 731 Deferred: Federal 12 12 12 State and local 77 7 32 Foreign ( 341 ) ( 922 ) ( 1,022 ) Total income tax expense (benefit) $ 1,182 $ 33 $ ( 208 ) The following table presents the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the years ended March 31: (In thousands) 2023 2022 2021 Income tax expense (benefit) at the US Federal statutory rate $ 3,340 $ 1,368 $ ( 4,454 ) Expense (benefit) for state taxes 377 ( 65 ) ( 803 ) Impact of foreign operations ( 78 ) ( 819 ) ( 841 ) Indefinite life assets 20 19 43 Intercompany gain 177 — — Change in valuation allowance ( 2,276 ) ( 2,623 ) 7,271 Change in liability for unrecognized tax benefits 24 25 26 Share-based compensation ( 241 ) ( 2,018 ) ( 2,232 ) Global intangible low-taxed income 101 971 985 Deferred adjustments ( 281 ) ( 260 ) ( 478 ) Provision to return ( 31 ) 3,438 278 Other 50 ( 3 ) ( 3 ) Total income tax expense (benefit) $ 1,182 $ 33 $ ( 208 ) We have elected to account for global intangible low-taxed income (GILTI) inclusions in the period in which they are incurred. The fiscal 2023 tax provision results primarily from foreign tax expense and minimal expense from the U.S. The fiscal 2023 tax provision differs from the statutory rate primarily due to adjustments to deferred tax assets; offset by current year expense in foreign jurisdictions. The fiscal 2022 tax provision results primarily from foreign tax benefit. The fiscal 2022 tax provision differs from the statutory rate primarily due to adjustments to deferred tax assets and the recording of net operating losses in a number of foreign jurisdictions offset by current year expense in other foreign jurisdictions. Deferred tax assets and liabilities as of March 31, are as follows: (In thousands) 2023 2022 Deferred tax assets: Accrued liabilities $ 8,748 $ 7,574 Allowance for expected credit losses and doubtful accounts 132 83 Federal losses and credit carryforwards 36,912 50,612 Foreign losses and credit carryforwards 3,555 2,793 State losses and credit carryforwards 10,080 11,179 Deferred revenue 291 193 Capitalized research expenses 11,399 — Property and equipment and software amortization 325 416 Operating lease liabilities 4,171 1,489 Goodwill and other intangible assets ( 536 ) 607 Other 185 163 75,262 75,109 Less: valuation allowance ( 67,928 ) ( 69,515 ) Total 7,334 5,594 Deferred tax liabilities: Operating lease right-of-use assets ( 3,153 ) ( 1,269 ) Goodwill and other intangible assets ( 3,659 ) ( 2,575 ) Other 12 ( 15 ) Total ( 6,800 ) ( 3,859 ) Total deferred tax assets, net $ 534 $ 1,735 At March 31, 2023, we had $ 132.0 million of federal net operating loss carryforwards that expire, if unused, in fiscal years 2033 to 2039, and $ 43.8 million of federal net operating loss carryforwards that can be carried forward indefinitely. Our Hong Kong, Canada, Singapore and Australia subsidiaries have $ 0.6 million , $ 0.6 million , $ 0.5 million and $ 0.1 million of net operating loss carryforwards, respectively. The losses for Hong Kong, Singapore and Australia can be carried forward indefinitely. Canada losses can be carried back three years and carried forward 20 years. Our India subsidiary operates in a “Special Economic Zone (“SEZ”)”. One of the benefits associated with the SEZ is that the India subsidiary is not subject to regular India income taxes during its first 5 years of operations which includes fiscal 2018 through fiscal 2022. The India subsidiary is then subject to 50 % of regular India income taxes during the second five years of operations which includes fiscal 2023 through fiscal 2027. The aggregate value of the benefit of the SEZ during the current fiscal year is $ 2.7 million as of March 31, 2023. The Company has paid minimum alternative taxes during the period of regular tax relief resulting in a credit of $ 1.8 million as of March 31, 2023. At March 31, 2023 we also had $ 133.9 million of state net operating loss carryforwards that expire, if unused, in fiscal years 2024 through 2042. The Tax Cuts and Jobs Act of 2017 (TCJA) made a significant change to Internal Revenue Code Section 174, which went into effect for taxable years beginning after December 31, 2021. The change requires Companies to capitalize specific research and experimental (“R&E”) expenditures and amortize over five years for U.S. incurred R&E or fifteen years for foreign incurred R&E beginning on January 1, 2022. The mandatory capitalization requirement increases our deferred tax assets but does not impact our cash tax liabilities in the current period. We have recorded valuation allowances offsetting substantially all the Company’s deferred income tax assets due to the uncertainty of the ultimate realization of the future benefits from those assets. At March 31, 2023, the total valuation allowance against deferred tax assets of $ 67.9 million was comprised of $ 66.2 million for federal and state deferred tax assets, and $ 1.7 million associated with deferred tax assets in Hong Kong, Canada, Singapore, the Philippines and Australia. The ultimate realization of deferred tax assets depends on various factors including the generation of taxable income during the future periods in which the underlying temporary differences are deductible. We consider the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected earnings, and tax planning strategies in our assessment of positive and negative evidence supporting the likelihood of deferred tax asset realization. We maintain valuation allowances for deferred tax assets until we have sufficient evidence to support the reversal of all or some portion of the allowances. Based on recent earnings and anticipated future earnings, we believe it is reasonably possible that within the next 12 months we will have sufficient positive evidence to conclude that a significant portion of our valuation allowances will no longer be needed. Releasing the valuation allowances would result in the recognition of certain deferred tax assets and significant income tax benefits. The exact timing and amount of the valuation allowance releases will depend on the level of profitability that we are able to achieve and our visibility into future results. Our recorded effective tax rate may increase in subsequent periods following a valuation release. Any valuation allowance release will not impact the amount of cash paid for income taxes. The undistributed earnings of our foreign subsidiaries are not subject to U.S. federal and state income taxes unless such earnings are distributed in the form of dividends or otherwise to the extent of current and accumulated earnings and profits. The undistributed earnings of foreign subsidiaries are permanently reinvested and totaled $ 22.2 million and $ 17.1 million as of March 31, 2023 and 2022, respectively. We made the determination of permanent reinvestment on the basis of sufficient evidence that demonstrates we will invest the undistributed earnings overseas indefinitely for use in working capital, as well as foreign acquisitions and expansion. The determination of the amount of the unrecognized deferred U.S. income tax liability related to the undistributed earnings is not practicable. As of March 31, 2023, we had a liability of $ 0.6 million related to uncertain tax positions, the recognition of which would impact our effective income tax rate. There have been no changes to our uncertain tax positions during the three years ended March 31, 2023. We recognize interest accrued on any uncertain tax positions as a component of income tax expense. Penalties are recognized as a component of general and administrative expenses. We recognized interest and penalty expense of less than $ 0.1 million for the years ended March 31, 2023, 2022 and 2021. As of March 31, 2023 and 2022, we had approximately $ 0.6 million and $ 0.6 million, respectively, of interest and penalties accrued in other non-current liabilities on our Consolidated Balance Sheets. We are consistently subject to tax audits. Due to the nature of examinations in multiple jurisdictions, changes could occur in the amount of gross unrecognized tax benefits during the next 12 months that we cannot anticipate. Although the timing and outcome of tax settlements remain uncertain, we expect that, as a result of the expiration of various statutes of limitations, a reduction in unrecognized tax benefits is more likely than not to occur during the next 12 months. In the U.S. we file consolidated federal and state income tax returns where statutes of limitations generally range from three to five years. Although we have resolved examinations with the IRS through tax year ended March 31, 2010, U.S. federal tax years are open from 2011 forward due to attribute carryforwards. The statute of limitations is open from fiscal year 2018 forward in certain state jurisdictions. We also file income tax returns in international jurisdictions where statutes of limitations generally range from three to seven years. Years beginning after 2016 are open for examination by certain foreign taxing authorities.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	10. Employee Benefit Plans Defined Contribution Plans We maintain 401(k) plans for employees located in the United States meeting certain service requirements. Generally, the plans allow eligible employees to contribute a portion of their compensation, and we match 100 % of the first 1% of the employee's pre-tax contributions and 50 % of the next 5% of the employee's pre-tax contributions. We may also make discretionary contributions each year for the benefit of all eligible employees under the plans. Agilysys matching contributions were $ 1.7 million , $ 1.4 million , and $ 0.1 million in fiscal 2023, 2022, and 2021, respectively. We also maintain defined contribution retirement plans for employees located in the United Kingdom and in the Asia Pacific region in accordance with local statutory requirements and business practices. Defined Benefit Plan We maintain a defined benefit retirement plan (the “Gratuity Plan”) covering eligible employees of our India subsidiary in accordance with local statutory requirements and business practices. The Gratuity Plan provides a lump-sum payment to vested employees at retirement, death, incapacitation, or termination of employment, of an amount based on the respective employee’s salary and the tenure of employment with the Company. The Gratuity Plan is unfunded with obligation amounts recorded in the Consolidated Balance Sheets as “Employee benefit obligations” within “Other non-current liabilities” and "Salaries, wages, and related benefits" within "Accrued liabilities". Endorsement Split-Dollar Life Insurance Agilysys provides certain former executives with life insurance benefits through endorsement split-dollar life insurance arrangements. We entered into agreements with each of the former executives, whereby we must maintain the life insurance policy for a specified amount and split a portion of the policy benefits with their designated beneficiary. Our investment in these corporate-owned life insurance policies were recorded at their cash surrender value, which approximates fair value at the balance sheet date. In the Consolidated Balance Sheets as of March 31, 2023 and 2022 , the cash surrender value of $ 1.0 million for the remaining policies were held in “Other non-current assets,” and the present value of future proceeds owed to those executives' designated beneficiaries of $ 0.1 million, which approximates fair value, were recorded within "Other non-current liabilities." Changes in the cash surrender value of these policies related to gains and losses incurred on these investments are classified within “Other (income) expenses, net” in the accompanying Consolidated Statements of Operations. We recorded a loss of $ 18,000 in fiscal 2023 and a gain of $ 13,000 and $ 31,000 in 2022 and 2021 , respectively, related to the corporate-owned life insurance policies.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Legal Contingencies We are involved in legal actions that arise in the ordinary course of business. It is the opinion of management that the resolution of any current pending litigation will not have a material adverse effect on our financial position or results of operations. On April 6, 2012, Ameranth, Inc. filed a complaint against us in the U.S. District Court for the Southern District of California alleging that certain of our products infringe patents owned by Ameranth directed to configuring and transmitting hospitality menus (e.g., restaurant menus) for display on electronic devices, and synchronizing the menu content between devices. The case against us was consolidated with similar cases brought by Ameranth against more than 30 other defendants. All but one of the patents at issue in the case were invalidated by the U.S. Court of Appeals for the Federal Circuit in 2016. In September 2018, the District Court found the one surviving Ameranth patent invalid and granted summary judgment in favor of the movant co-defendants. This judgment was affirmed by the U.S. Court of Appeals for the Federal Circuit in November 2019 with respect to all claims except for two, which were not asserted against Agilysys, and Ameranth’s writ of certiorari to the United States Supreme Court was denied in October 2020. In December 2021, the District Court denied Ameranth’s motion to assert additional claims against the defendants. In March 2022, the District Court granted summary judgment in favor of the defendants still facing the remaining claims. Subsequently, Ameranth appealed the grant of summary judgment with the U.S. Court of Appeals for the Federal Circuit. On May 11, 2022, in accordance with its prior rulings, the District Court entered judgment in favor of us and against Ameranth on all claims asserted against us. At this time, we are not able to predict the outcome of Ameranth’s pending appeal on their claims against us, or any possible monetary exposure associated with the lawsuit. However, we dispute the allegations of wrongdoing and are vigorously defending ourselves in this matter.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	12. Earnings per Share The following data shows the amounts used in computing earnings per share and the effect on earnings and the weighted average number of shares of dilutive potential common shares. Year Ended March 31, (In thousands, except per share data) 2023 2022 2021 Numerator: Net income (loss) $ 14,582 $ 6,478 $ ( 21,001 ) Series A convertible preferred stock issuance costs — — ( 1,031 ) Series A convertible preferred stock dividends ( 1,836 ) ( 1,836 ) ( 1,576 ) Net income (loss) attributable to common shareholders $ 12,746 $ 4,642 $ ( 23,608 ) Denominator: Weighted average shares outstanding - basic 24,694 24,357 23,458 Dilutive SSARs 1,059 1,063 — Dilutive RSUs — — — Dilutive unvested restricted shares 176 63 — Weighted average shares outstanding - diluted 25,929 25,483 23,458 Income (loss) per share - basic: $ 0.52 $ 0.19 $ ( 1.01 ) Income (loss) per share - diluted: $ 0.49 $ 0.18 $ ( 1.01 ) Anti-dilutive stock options, SSARs, restricted shares, restricted stock units, 1,741 1,736 4,228 Basic income (loss) per share is computed as net income available to common shareholders divided by the weighted average basic shares outstanding. The outstanding shares used to calculate the weighted average basic shares excludes 407,324 , 147,973 and 132,198 of restricted shares and performance shares at March 31, 2023, 2022 and 2021, respectively, as these shares were issued but were not vested and, therefore, not considered outstanding for purposes of computing basic earnings per share at the balance sheet dates. Diluted income (loss) per share includes the effect of all potentially dilutive securities on earnings per share. We have stock-settled appreciation rights (SSARs), restricted stock units, and unvested restricted shares that are potentially dilutive securities. When a loss is reported, the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of share-based compensation awards because doing so would be anti-dilutive.

Share-based Compensation

Share-based Compensation	12 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-based Compensation	13. Share-based Compensation We may grant incentive stock options, non-qualified stock options, SSARs, restricted shares, restricted stock units, and performance shares under our shareholder-approved 2020 Stock Incentive Plan (the 2020 Plan) for up to 2.25 million common shares, plus 868,864 common shares, the number of shares that were remaining for grant under the 2016 Stock Incentive Plan (the 2016 Plan) as of the effective date of the 2020 Plan, plus the number of shares remaining for grant under the 2016 Plan that are forfeited, settled in cash, canceled or expired. The maximum aggregate number of restricted shares or restricted stock units that may be granted under the 2020 Plan is 3.1 million. We may distribute authorized but unissued shares or treasury shares to satisfy share option and SSAR exercises or grants of restricted shares, restricted stock units or performance shares. For SSARs, the exercise price must be set at least equal to the closing market price of our common shares on the date of grant. The maximum term of SSARs is seven years from the date of grant. The Compensation Committee of the Board of Directors establishes the period over which SSARs subject to a service condition vest and the vesting criteria for SSARs subject to a market condition. Restricted shares and restricted stock units, whether time-vested or performance-based, may be issued at no cost or at a purchase price that may be below their fair market value, but are subject to forfeiture and restrictions on their sale or other transfer. Performance-based grants may be conditioned upon the attainment of specified performance objectives and other conditions, restrictions, and contingencies. Restricted shares have the right to receive dividends, if any, upon vesting, subject to the same forfeiture provisions that apply to the underlying grants. We record compensation expense related to SSARs, restricted shares, restricted stock units, and performance shares granted to certain employees and non-employee directors based on the fair value of the awards on the grant date. The fair value of restricted stock unit and restricted share grants subject only to a service condition is based on the closing price of our common shares on the grant date. For stock option and SSAR grants subject only to a service condition, we estimate the fair value on the grant date using the Black-Scholes-Merton option pricing model with inputs including the closing market price at grant date, exercise price and assumptions regarding the risk-free interest rate, expected volatility of our common shares based on historical volatility, and expected term as estimated using the simplified method. We used the simplified method for SSAR grants during the year ended March 31, 2021 because we believed historical exercise data did not provide a reasonable basis upon which to estimate the expected term. For restricted stock unit, restricted share, and SSAR grants subject to a market condition, we estimate the fair value on the grant date through a lattice option pricing model that utilizes a Monte Carlo analysis with inputs including the closing market price at grant date, share price threshold, performance period term and assumptions regarding the risk-free interest rate and expected volatility of our common shares based on historical volatility. Inputs for SSAR grants subject to a market condition also include exercise price, remaining contractual term, and suboptimal exercise factor. We record compensation expense for restricted stock units, restricted shares, and SSAR grants subject to a service condition using the graded vesting method. We record compensation expense for SSAR grants subject only to a market condition over the derived service period, which is an output of the lattice option pricing model. Under the 2020 Plan, the fair value of performance shares is based on the closing price of our common shares on the settlement date of the performance award, for which we record compensation expense over the service period consistent with our annual bonus incentive plan as approved by the Compensation Committee of the Board of Directors. The following table summarizes the share-based compensation expense for SSARs, restricted and performance grants included in the Consolidated Statements of Operations for fiscal 2023, 2022 and 2021: Year Ended March 31, (In thousands) 2023 2022 2021 Product development 7,987 8,186 21,634 Sales and marketing 1,044 1,355 4,254 General and administrative 3,927 5,008 14,206 Total share-based compensation expense 12,958 14,549 40,093 Stock-Settled Stock Appreciation Rights SSARs are rights granted to an employee to receive value equal to the difference between the price of our common shares on the date of exercise and the exercise price. The value is settled in common shares of Agilysys, Inc. We use a Black-Scholes-Merton option pricing model to estimate the fair value of service condition SSARs. There were no service condition SSARs granted in fiscal 2023 or 2022. The following table summarizes the principal assumptions utilized in valuing service condition SSARs granted in fiscal 2021: 2021 Risk-free interest rate 0.31 % Expected life (in years) 4 Expected volatility 42.99 % Weighted-average grant date fair value $ 22.57 The risk-free interest rate is based on the yield of a zero coupon U.S. Treasury bond whose maturity period approximates the expected life of the SSARs. The expected life is estimated using historical data representing the period of time the awards are expected to be outstanding. The estimated fair value of the SSARs granted is recognized over the vesting period of the awards utilizing the graded vesting method. Under this method, the compensation cost related to unvested amounts begins to be recognized as of the grant date. We use a lattice option pricing model to estimate the fair value of market condition SSARs. There were no market condition SSARs granted in fiscal 2023 or 2022. The following table summarizes the principal valuation assumptions utilized and the resulting fair value of market condition SSARs granted in fiscal 2021: 2021 Risk-free interest rate over contractual term 0.60 % Expected volatility 40.00 % Suboptimal exercise factor 2.50x Weighted-average grant date fair value $ 19.55 The following table summarizes the activity during fiscal 2023 for SSARs awarded under the 2020 and 2016 Plans: (In thousands, except share and per share data) Number Weighted- Remaining Aggregate (per right) (in years) Outstanding at April 1, 2022 2,172,939 $ 24.02 Granted — — Exercised ( 573,016 ) 18.70 Forfeited ( 27,463 ) 20.02 Cancelled/expired — — Outstanding at March 31, 2023 1,572,460 $ 26.04 3.2 $ 88,804 Exercisable at March 31, 2023 1,572,460 $ 26.04 3.2 $ 88,804 Vested and expected to vest at March 31, 2023 1,572,460 $ 26.04 3.2 $ 88,804 The following table presents additional information related to SSARs activity during fiscal 2023, 2022 and 2021: (In thousands) 2023 2022 2021 Compensation expense $ 3,188 $ 10,030 $ 35,808 Total intrinsic value of SSARs exercised $ 28,025 $ 34,437 $ 25,153 Total fair value of SSARs vesting $ 13,037 $ 6,439 $ 31,380 As of March 31, 2023 , there was no unrecognized share-based compensation expense related to SSARs. A total of 403,079 shares, net of 127,747 shares withheld to cover the employee’s minimum applicable income taxes, were issued from treasury shares to settle SSARs exercised during the twelve months ended March 31, 2023. The shares withheld were returned to treasury shares. Restricted Shares We use a lattice option pricing model to estimate the fair value of restricted shares subject to a market condition. There were no restricted shares subject to a market condition granted in fiscal 2023 or 2021. The following table summarizes the principal valuation assumptions utilized and the resulting fair value of restricted shares subject to a market condition granted in fiscal 2022: 2022 Risk-free interest rate over contractual term 0.5 % - 0.9 % Expected volatility 54.0 % - 56.0 % Weighted-average grant date fair value $ 24.77 - $ 39.12 We granted restricted shares to certain of our Directors, executives and key employees, the vesting of which is service-based. Certain restricted shares are also subject to a market condition. The following table summarizes the activity during the twelve months ended March 31, 2023 for restricted shares awarded under the 2020 and 2016 Plans: Number Weighted- (per share) Outstanding at April 1, 2022 147,973 $ 43.56 Granted 342,761 48.77 Vested ( 71,751 ) 45.73 Forfeited ( 11,659 ) 45.35 Outstanding at March 31, 2023 407,324 $ 47.53 The weighted-average grant date fair value of the restricted shares includes grants subject only to a service condition and certain grants subject to both a service condition and a market condition. As of March 31, 2023, a total of 407,324 shares were issued from treasury. The following table presents additional information related to restricted share activity during fiscal years 2023, 2022, and 2021: (In thousands) 2023 2022 2021 Compensation expense $ 9,274 $ 4,339 $ 4,105 Total fair value of restricted share vesting $ 2,952 $ 3,297 $ 7,554 As of March 31, 2023, total unrecognized share-based compensation expense related to non-vested restricted shares was $ 11.2 million , which is expected to be recognized over a weighted-average vesting period of 1.3 years. We do not include restricted shares in the calculation of earnings per share until the shares are vested. Restricted Stock Units We granted restricted stock units to our Chief Executive Officer, the vesting of which is service-based. Certain restricted stock units are also subject to a market condition. The following table summarizes the activity during the twelve months ended March 31, 2023 for restricted stock units awarded under the 2020 Plan: Number Weighted- (per share) Outstanding at April 1, 2022 — $ — Granted 67,856 71.62 Vested — — Forfeited — — Outstanding at March 31, 2023 67,856 $ 71.62 We use a lattice option pricing model to estimate the fair value of restricted stock units subject to a market condition. There were no restricted stock units subject to a market condition granted in fiscal 2022 or 2021. The following table summarizes the principal valuation assumptions utilized and the resulting fair value of restricted stock units subject to a market condition granted in fiscal 2023: 2023 Risk-free interest rate over contractual term 4.3 % Expected volatility 54.0 % Weighted-average grant date fair value $ 60.02 - $ 65.89 The following table presents additional information related to restricted stock unit activity during fiscal 2023: (In thousands) 2023 Compensation expense $ 136 Total fair value of restricted stock unit vesting $ — As of March 31, 2023, total unrecognized share-based compensation expense related to non-vested restricted stock units was $ 4.7 million , which is expected to be recognized over the weighted-average vesting period of 2.4 years. Performance Shares Upon approval of the Compensation Committee of our Board of Directors, after achieving the performance conditions associated with our annual bonus plan, we grant common shares to our Chief Executive Officer that vest immediately. Once attainment of the performance conditions becomes probable, we recognize compensation expense related to performance shares ratably over the performance period. The number of performance shares granted will be based on the closing price of our common shares on the grant date and settlement date, which are the same under the 2020 plan. Based on the performance conditions achieved as they relate to our annual bonus plan, management estimates a liability of $ 0.4 million as of March 31, 2023, to be settled through the granting and vesting of performance shares after March 31, 2023. We recognized compensation expense related to performance shares of $ 0.4 million in the fiscal year ending March 31, 2023 and $ 0.2 million in each of the fiscal years ending March 31, 2022 and 2021, respectively.

Preferred Stock

Preferred Stock	12 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Preferred Stock	14. Preferred Stock Series A Convertible Preferred Stock On May 22, 2020, we completed the sale of 1,735,457 shares of our preferred stock, without par value, designated as “Series A Convertible Preferred Stock” (the “Convertible Preferred Stock”) to MAK Capital Fund L.P. and MAK Capital Distressed Debt Fund I, LP (the “Holders”) each, in its capacity as a designee of MAK Capital One LLC (the “Purchaser”), pursuant to the terms of the Investment Agreement, dated as of May 11, 2020, between the Company and the Purchaser, for an aggregate purchase price of $ 35 million. We incurred issuance costs of $ 1.0 million. We added all issuance costs that were netted against the proceeds upon issuance of the Convertible Preferred Stock to its redemption value. As disclosed in our Annual Report for the fiscal year ended March 31, 2020, Michael Kaufman, the Chairman of the Company’s Board of Directors, is the Chief Executive Officer of MAK Capital One LLC. Accounting Policy We classify convertible preferred stock as temporary equity in the consolidated balance sheets due to certain contingent redemption clauses that are at the election of the Holders. We increase the carrying value of the convertible preferred stock to its redemption value (described below) for all undeclared dividends using the interest method. The Convertible Preferred Stock has the following rights, preferences and restrictions (the Certificate of Designation included as Exhibit 3.3 to our Current Report on Form 8-K on February 9, 2022, which superseded the Certificate of Amendment included as Exhibit 3.1 to our Current Report on Form 8-K, filed on May 26, 2020, when we converted to a Delaware corporation in February 2022, defines all terms not otherwise defined below): Voting The Holders are entitled to one vote for each share of Convertible Preferred Stock upon all matters presented to the common shareholders of the Company , and except as otherwise provided by the Certificate of Incorporation of the Company or required by law, the Holders and common shareholders will vote together as one class on all matters. Additionally, certain matters specific to the Convertible Preferred Stock will require the approval of two-thirds of the outstanding Convertible Preferred Stock, voting as a separate class. Liquidation Preference Upon a liquidation, dissolution or winding up of the Company, each share of Convertible Preferred Stock will be entitled to receive an amount per share equal to the greater of (i) the purchase price paid by the Purchaser, plus all accrued and unpaid dividends (the “Liquidation Preference”) and (ii) the amount that the Holder would have been entitled to receive at such time if the Convertible Preferred Stock were converted into common stock. Redemption On and after the fifth anniversary of the date the Convertible Preferred Stock was initially issued, the Company will have the right, and the Holders will have the right to require the Company, in each case, at the initiating party’s election, to redeem all, but not less than all, of the then-outstanding Convertible Preferred Stock for an amount equal to the Liquidation Preference. Conversion Each Holder has the right, at its option, to convert its Convertible Preferred Stock, in whole or in part, into fully paid and non-assessable shares of common stock at a conversion price equal to $ 20.1676 per share (as may be adjusted from time to time, as described in the Certificate of Designation). Subject to certain conditions, the Company may, at its option, require conversion of all of the outstanding shares of Convertible Preferred Stock to common stock if, at any time after November 22, 2023 , the daily volume-weighted average price of the Company’s common stock is at least 150 % of the conversion price for at least 20 trading days during the 30 consecutive trading days immediately preceding the date the Company notifies the Holders of the election to convert. Dividends The Holders are entitled to dividends on the Liquidation Preference at the rate of 5.25 % per annum, payable semi-annually either (i) 50% in cash and 50% in kind as an increase in the then-current Liquidation Preference or (ii) 100% in cash, at the option of the Company. The Holders are not entitled to participate in dividends declared or paid on the common stock on an as-converted basis; however, certain anti-dilution adjustments to the Convertible Preferred Stock may be made in the event of such dividends. The Convertible Preferred Stock ranks senior to the Company’s common stock with respect to dividends and distributions on liquidation, winding-up and dissolution. Upon a liquidation, dissolution or winding up of the Company, each share of Convertible Preferred Stock will be entitled to receive an amount per share equal to the greater of (i) the Liquidation Preference and (ii) the amount that the Holder would have been entitled to receive at such time if the Convertible Preferred Stock were converted into common stock. Change in Control Events Upon certain change of control events involving the Company, the Company has the right, and each Holder has the right, in each case, at the initiating party’s election, to require the Company to repurchase all or a portion of its then-outstanding shares of Convertible Preferred Stock for cash consideration equal to (i) 150% of the then-current Liquidation Preference for a change of control occurring prior to the third anniversary of the date the Convertible Preferred Stock is initially issued, (ii) 125% of the then-current Liquidation Preference for a change of control occurring on or following the third anniversary and prior to the fifth anniversary of the date the Convertible Preferred Stock is initially issued and (iii) 100% of the then-current Liquidation Preference for a change of control occurring on or following the fifth anniversary of the date the Convertible Preferred Stock is initially issued. Standstill Restrictions The Purchaser and its affiliates are subject to certain customary standstill provisions that restrict them from, among other actions, acquiring additional securities of the Company if such acquisition would result in the Purchaser beneficially owning in excess of 25 % of the outstanding shares of common stock of the Company until the later of the third anniversary of the date the Convertible Preferred Stock is initially issued and the date on which the Purchaser no longer has record or beneficial ownership of common stock and Convertible Preferred Stock that constitute at least 10 % of the outstanding common stock.

Business Combination

Business Combination	12 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
Business Combination	15. Business Combination On January 5, 2022 (the acquisition date), we acquired all the issued and outstanding shares of ResortSuite Inc. (“ResortSuite”), a Canada-based fully integrated property management solutions provider focused on the complex multi-amenity and resort market. The condensed consolidated financial statements include the results of ResortSuite’s operations since the acquisition date. The acquisition extends our solutions to customers in the complex multi-amenity and resort market. The purchase price consisted of $ 22.6 million of cash paid at closing, funded from cash on hand, partially offset by $ 0.3 million of ResortSuite’s cash received in the acquisition, $ 2.2 million of cash paid in March 2022 for certain ResortSuite tax liabilities, and $ 0.4 million in cash received in January 2023 upon release of escrow funds resulting in net cash consideration of $ 24.1 million. We allocated the purchase price for ResortSuite to the intangible and certain tangible assets acquired and certain liabilities assumed based on their estimated fair values on the acquisition date, with the remaining unallocated purchase price recorded as goodwill. We determined the fair values assigned to identifiable intangible assets acquired primarily by using the income approach, which discounts the expected future cash flows to present value using estimates and assumptions determined by management. In accordance with Accounting Standards Update (ASU) No. 2021-08, we applied Accounting Standards Codification Topic 606 to record certain customer accounts receivable and the contract liabilities assumed in the acquisition, which consisted of undelivered performance obligations under customer contracts. We adopted ASU 2021-08 early as permitted. As a result, in allocating the purchase price, we recorded $ 2.8 million of contract liabilities, representing the revenue that will be recognized as the underlying performance obligations are delivered. The following table sets forth the components and the allocation of the purchase price for our acquisition of ResortSuite: (In thousands) Total Components of Purchase Price: Cash $ 24,405 Total purchase price $ 24,405 Allocation of Purchase Price: Net tangible assets (liabilities): Accounts receivable, net $ 2,025 Other current assets, including cash acquired 519 Other assets 567 Current and other liabilities ( 768 ) Contract liabilities ( 2,835 ) Deferred income taxes, non-current ( 1,204 ) Net tangible assets (liabilities) ( 1,696 ) Identifiable intangible assets: Customer relationships 9,634 Non-competition agreements 848 Developed technology 827 Trade names 846 Total identifiable intangible assets 12,155 Goodwill 13,946 Total purchase price allocation $ 24,405 We assigned the acquired customer relationships, non-competition agreements, developed technology, and trade names estimated useful lives of 15 years , two years , five years , and five years , respectively, the weighted average of which is approximately 12.7 years. The acquired identifiable intangible assets are being amortized on a straight-line basis, which we believe approximates the pattern in which the assets are utilized, over their estimated useful lives. The goodwill recognized in the ResortSuite purchase price allocation is attributable to synergies in products and technologies to serve a broader customer base, and the addition of a skilled, assembled workforce. During the year ended March 31, 2023 , we increased goodwill by $ 0.8 million to record deferred income tax liabilities identified during the measurement period related to Canada tax treatment of certain intangible assets and to record final working capital adjustments related to the purchase price. The acquisition resulted in the recognition of $ 13.9 million of goodwill, which is expected to be deductible for income tax purposes. The Company recognized acquisition costs of $ 0.2 million and $ 0.5 million related to the acquisition of ResortSuite, consisting primarily of professional fees, during the year ended March 31, 2023 and 2022, respectively. The consolidated statement of operations includes these costs in other charges. Revenue attributable to ResortSuite included in our consolidated statement of operations was $ 5.2 million and $ 1.3 million for the year ended March 31, 2023 and 2022, respectively. The pro forma impact of the business combination during the two years ended March 31, 2022 was not material to our historical consolidated operating results and is therefore not presented. Effective April 1, 2022, ResortSuite became Agilysys Canada, Inc. a wholly-owned subsidiary of Agilysys, Inc.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events None.

Related Party Transaction

Related Party Transaction	12 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transaction	17. Related Party Transaction See Note 14. Preferred Stock , for description of the MAK Capital investment in the Company. Michael Kaufman, the Chairman of the Company’s Board of Directors, is the Chief Executive Officer of MAK Capital.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II - Valuation and Qualifying Accoun ts Years ended March 31, 2023, 2022 and 2021 (In thousands) Balance at Charged to Deductions Balance at 2023 Deferred tax valuation allowance $ 69,515 $ — $ ( 1,587 ) $ 67,928 Allowance for expected credit losses $ 318 $ 620 $ ( 328 ) $ 610 2022 Deferred tax valuation allowance $ 74,631 $ — $ ( 5,116 ) $ 69,515 Allowance for doubtful accounts $ 1,220 $ 117 $ ( 1,019 ) $ 318 2021 Deferred tax valuation allowance $ 66,819 $ 7,812 $ — $ 74,631 Allowance for doubtful accounts $ 1,634 $ 508 $ ( 922 ) $ 1,220

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation. The consolidated financial statements include the accounts of Agilysys, Inc. and subsidiaries. Investments in affiliated companies are accounted for by the equity or cost method, as appropriate. All inter-company accounts have been eliminated.
Use of estimates	Use of estimates. Preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates.
Cash and cash equivalents	Cash and cash equivalents. We consider all highly liquid investments purchased with an original maturity from date of acquisition of three months or less to be cash equivalents. Other highly liquid investments considered cash equivalents with no established maturity date are fully redeemable on demand (without penalty) with settlement of principal and accrued interest on the same or following business day after instruction to redeem. Cash equivalent investments are readily convertible to cash with no penalty and can include certificates of deposit, commercial paper, treasury bills, money market funds and other investments. Commercial paper cash equivalents totaled $ 5.0 million and $ 15.0 million as of March 31, 2023 and March 31, 2022, respectively. We determine the fair value of commercial paper using significant other observable inputs (level 2) based on pricing from independent sources that use quoted prices in active markets for identical assets or other observable inputs including benchmark yields and interest rates.
Allowance for expected credit losses	Allowance for expected credit losses. We maintain allowances for expected credit losses for estimated losses resulting from the inability or unwillingness of our customers to make required payments. We base our expected credit loss model on historical experience, adjusted for current conditions and reasonable and supportable forecasts. To help mitigate the associated credit risk we perform periodic credit evaluations of our customers.
Customer credit allowance	Customer credit allowance . We maintain allowances for estimated customer credits. Credits are typically due to the timing or amount of customer invoices processed for specific services, including professional and subscription, and maintenance coverage. In many cases, there has not been clear or timely communication of the need to adjust coverage or service at a location in advance of when we invoice for the associated coverage or service. We will issue a credit after agreeing to the service or coverage adjustment as requested by the customer within the terms of our contract.
Inventories	Inventories. Our inventories are comprised of finished goods. Inventories are stated at the lower of cost or net realizable value, net of related reserves. The cost of inventory is computed using a weighted-average method. Our inventory is monitored to ensure appropriate valuation. Adjustments of inventories to the lower of cost or net realizable value, if necessary, are based upon contractual provisions such as turnover and assumptions about future demand and market conditions. If assumptions about future demand change and/or actual market conditions are less favorable than those projected by management, additional adjustments to inventory valuations may be required. We provide a reserve for obsolescence, which is calculated based on several factors, including an analysis of historical sales of products and the age of the inventory. Actual amounts could be different from those estimated.
Leases	Leases. We determine if an arrangement is or contains a lease at inception. Operating leases are presented as Right-of-Use (“ROU”) assets and the corresponding lease liabilities are included in operating lease liabilities – current and operating lease liabilities – non-current on our Consolidated Balance Sheet. Finance leases are included in property and equipment, net and corresponding liabilities are included in finance lease obligations – current and non-current on our Consolidated Balance Sheet. ROU assets represent our right to use the underlying asset, and lease liabilities represent our obligation for lease payments in exchange for the ability to use the asset for the duration of the lease term. ROU assets and lease liabilities are recognized at commencement date and determined using the present value of the remaining lease payments over the lease term. We use an incremental borrowing rate based on estimated rate of interest for collateralized borrowing since our leases do not include an implicit interest rate. The estimated incremental borrowing rate considers market data, actual lease economic environment, and actual lease term at commencement date. The lease term may include options to extend when it is reasonably certain that we will exercise that option. ROU assets include lease payments made in advance, and excludes any incentives received or initial direct costs incurred. We recognize lease expense on a straight-line basis over the lease term and sublease income on a straight-line basis over the sublease term. We have lease agreements with lease and non-lease components which we account for as a single lease component. We also have leases which include variable lease payments, which are expensed as incurred. Our variable lease payments are not based on an index or rate and therefore are excluded from the calculation of lease liabilities. We have elected to not recognize short term leases that have a term of twelve months or less as ROU assets or lease liabilities. Our short-term leases are not material and do not have a material impact on our ROU assets or lease liabilities. Additionally, we do not have any covenants, residual value guarantees, or related party transactions associated with our lease agreements.
Goodwill and other indefinite-lived intangible assets	Goodwill and other indefinite-lived intangible assets. Goodwill represents the excess purchase price paid over the fair value of the net assets of acquired companies. As of March 31, 2023 and 2022, the carrying amount of goodwill was $ 32.6 million and $ 32.8 million, respectively. Goodwill is tested for impairment on an annual basis, or in interim periods if indicators of potential impairment exist, based on our one reporting unit. The Company evaluates whether goodwill is impaired by comparing its market capitalization based on its closing stock price (Level 1 input) to the book value of its equity on the annual evaluation date. The Company is also required to compare the fair values of other indefinite-lived intangible assets to their carrying amounts at least annually, or when current events and circumstances require an interim assessment. The Company concluded that no impairment of its goodwill and other indefinite-lived assets has occurred for the years ended March 31, 2023, 2022 and 2021 .
Acquired intangible assets	Acquired intangible assets. Acquired intangible assets include identifiable customer relationships, non-competition agreements, developed technology, and trade names. We amortize the cost of finite-lived identifiable intangible assets over their estimated useful lives, which are periods of 15 years or less, primarily on a straight-line basis, which we believe approximates the pattern in which the assets are utilized. The fair values assigned to identifiable intangible assets acquired in business combinations are determined primarily by using the income approach, which discounts expected future cash flows attributable to these assets to present value using estimates and assumptions determined by management.
Long-lived assets	Long-lived assets. Property and equipment are recorded at cost. Major renewals and improvements are capitalized. Minor replacements, maintenance, repairs, and reengineering costs are expensed as incurred. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is recognized. Depreciation and amortization are provided in amounts sufficient to amortize the cost of the assets, including assets recorded under finance leases, which make up less than one percent of total assets, over their estimated useful lives using the straight-line method. The estimated useful lives for depreciation and amortization are as follows: buildings and building improvements – 7 to 30 years ; furniture – 7 to 10 years ; equipment – 3 to 10 years ; software – 3 to 10 years ; and leasehold improvements over the shorter of the economic life or the lease term. Internal use software costs are expensed or capitalized depending on the project stage. Amounts capitalized are amortized over the estimated useful lives of the software, ranging from 3 to 10 years, beginning with the project’s completion. Depreciation for capitalized project expenditures does not begin until the underlying project is completed. We evaluate the recoverability of our long-lived assets whenever changes in circumstances or events may indicate that the carrying amounts may not be recoverable. An impairment loss is recognized in the event the carrying value of the assets exceeds the future undiscounted cash flows attributable to such assets. Our long-lived assets and impairments considerations are discussed further in Note 4, Property and Equipment, Net.
Foreign currency translation	Foreign currency translation. The financial statements of our foreign operations are translated into U.S. dollars for financial reporting purposes. The assets and liabilities of foreign operations whose functional currencies are not in U.S. dollars are translated at the period-end exchange rates, while revenue and expenses are translated at weighted-average exchange rates during the fiscal year. The cumulative translation effects are reflected as a component of “Accumulated other comprehensive income (loss)” within shareholders’ equity in the Consolidated Balance Sheets. Gains and losses on monetary transactions denominated in other than the functional currency of an operation are reflected within “Other (income) expenses, net” in the Consolidated Statements of Operations. Foreign currency gains and losses from changes in exchange rates have not been material to our consolidated operating results.
Revenue recognition	Revenue recognition. We derive revenue from the sale of products (proprietary software licenses, third party hardware and operating systems), subscription and maintenance, and professional services. For the fiscal years 2023, 2022 and 2021, revenue from international operations was 7 % , 7 % and 8 %, respectively of total revenue. Our customer base is highly fragmented. Our customary business practice is to enter into legally enforceable written contracts with our customers. The majority of our contracts are governed by a master service agreement between us and the customer, which sets forth the general terms and conditions of any individual contract between the parties, which is then supplemented by a customer order to specify the different goods and services, the associated prices, and any additional terms for an individual contract. Performance obligations specific to each individual contract are defined within the terms of each order. Each performance obligation is identified based on the goods and services that will be transferred to our customer that are both capable of being distinct and are distinct within the context of the contract. The transaction price is determined based on the consideration to which we will be entitled and expect to receive in exchange for transferring goods or services to the customer. Typically, our contracts do not provide our customer with any right of return or refund; we do not constrain the contract price as it is probable that there will not be a significant revenue reversal due to a return or refund. Typically, our customer contracts contain one or more of the following goods or services which constitute performance obligations. Our proprietary software licenses typically provide for a perpetual right to use our software. Generally, our contracts do not provide significant services of integration and customization and installation services are not required to be purchased directly from us. The software is delivered before related services are provided and is functional without professional services, updates and technical support. We have concluded that the software license is distinct as the customer can benefit from the software on its own. Software revenue is typically recognized when the software is delivered or made available for download to the customer. We recognize revenue for hardware sales when the product is shipped to the customer and when obligations that affect the customer’s final acceptance of the arrangement have been fulfilled. Hardware is purchased from suppliers and provided to the end-user customers via drop-ship or from inventory. We are responsible for negotiating price both with the supplier and the customer, payment to the supplier, establishing payment terms and product returns with the customer, and we bear the credit risk if the customer does not pay for the goods. As the principal contact with the customer, we recognize revenue and cost of goods sold when we ship or are notified by the supplier that the product has been shipped. In certain limited instances, as shipping terms dictate, revenue is recognized upon receipt at the point of destination or upon installation at the customer site. Our subscription service revenue is comprised of fees for contracts that provide customers a right to access our software for a subscribed period. We do not provide the customer the contractual right to license the software at any time outside of the subscription period under these contracts. Our subscription service revenue is primarily based on rates per location, including rates per points of sale and per room. We recognize certain subscription service revenue on a per-transaction basis. The customer can only benefit from the software and software maintenance when provided the right to access the software. Accordingly, each of the rights to access the software, the maintenance services, any hosting services, and any transaction-based services is not considered a distinct performance obligation in the context of the contract and should be combined into a single performance obligation to be recognized over the contract period. The Company recognizes subscription revenue over a one-month period based on the typical monthly invoicing and renewal cycle in accordance with our customer agreement terms. We derive maintenance service revenue from providing unspecified updates, upgrades, bug fixes, and technical support services for our proprietary software. These services represent a stand-ready obligation that is concurrently delivered and has the same pattern of transfer to the customer; we account for these maintenance services as a single performance obligation. Maintenance revenue includes the same services provided by third-parties for remarketed software. We recognize substantially all maintenance revenue over the contract period of the maintenance agreement. We also recognize certain maintenance service revenue based on the volume of payment transactions processed by third parties through access to our software. Professional services revenues primarily consist of fees for consulting, installation, integration and training and are generally recognized over time as the customer simultaneously receives and consumes the benefits of the professional services as the services are being performed. Professional services can be provided by internal or external providers, do not significantly affect the customer’s ability to access or use other provided goods or services, and provide a measure of benefit beyond that of other promised goods or services in the contract. As a result, professional services are considered distinct in the context of the contract and represent a separate performance obligation. Professional services that are billed on a time and materials basis are recognized over time as the services are performed. For contracts billed on a fixed price basis, revenue is recognized over time using an input method based on labor hours expended to date relative to the total labor hours expected to be required to satisfy the related performance obligation. We use the market approach to derive standalone selling price (“SSP”) by maximizing observable data points (in the form of recently executed customer contracts) to determine the price customers are willing to pay for the goods and services transferred. If the contract contains a single performance obligation, the entire transaction price is allocated to that performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative SSP basis. Shipping and handling fees billed to customers are recognized as revenue and the related costs are recognized in cost of goods sold. Revenue is recorded net of any applicable taxes collected and remitted to governmental agencies.
Comprehensive income (loss)	Comprehensive income (loss). Comprehensive income (loss) is the total of net income (loss), as currently reported under GAAP, plus other comprehensive income (loss). Other comprehensive income (loss) considers the effects of additional transactions and economic events that are not required to be recorded in determining net income (loss), but rather are reported as a separate statement of comprehensive income (loss).
Fair value measurements	Fair value measurements. We measure the fair value of financial assets and liabilities on a recurring or non-recurring basis. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. In determining fair value of financial assets and liabilities, we use various valuation techniques.
Investments in corporate-owned life insurance policies	Investments in corporate-owned life insurance policies. Agilysys invests in corporate-owned life insurance policies, for which some are endorsement split-dollar life insurance arrangements. We entered into agreements with certain former executives, whereby we must maintain the life insurance policy for a specified amount and split a portion of the policy benefits with their respective designated beneficiary. Our investment in these corporate-owned life insurance policies were recorded at their cash surrender value, which approximates fair value at the balance sheet date. In the Consolidated Balance Sheets at the balance sheet date, the cash surrender value of $ 1.0 million for the remaining policies were held in “Other non-current assets,” and the present value of future proceeds owed to those executives’ designated beneficiary of $ 0.1 million, which approximates fair value, were recorded within “Other non-current liabilities.” Additional information regarding the investments in corporate-owned life insurance policies is provided in Note 10, Employee Benefit Plans .
Income Taxes	Income Taxes. Income tax expense includes U.S. and foreign income taxes and is based on reported income before income taxes. We recognize deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities are determined based on the enacted tax rates expected to apply in the periods in which the deferred tax assets or liabilities are anticipated to be settled or realized. We regularly review our deferred tax assets for recoverability and establish a valuation allowance if it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. The determination as to whether a deferred tax asset will be realized is made on a jurisdictional basis and is based on the evaluation of positive and negative evidence. This evidence includes historical taxable income, projected future taxable income, the expected timing of the reversal of existing temporary differences and the implementation of tax planning strategies. We recognize the tax benefit from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from uncertain tax positions are measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. No tax benefits are recognized for positions that do not meet this threshold. Interest related to uncertain tax positions is recognized as part of the provision for income taxes and is accrued beginning in the period that such interest would be applicable under relevant tax law until such time that the related tax benefits are recognized. Our income taxes are described further in Note 9, Income Taxes .
Advertising and Promotion Expense	Advertising and Promotion Expense. We expense advertising and promotion expense as incurred. Advertising and promotion expense was $ 4.8 million , $ 2.6 million and $ 0.4 million in fiscal 2023, 2022 and 2021 , respectively
Accounting Pronouncements	Accounting Pronouncements Management continually evaluates the potential impact, if any, of all recent accounting pronouncements on our consolidated financial statements or related disclosures and, if significant, makes the appropriate disclosures required by such new accounting pronouncements.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment at March 31, 2023 and 2022 is as follows: Year ended March 31, (In thousands) 2023 2022 Furniture and equipment $ 12,097 $ 14,632 Software 15,989 16,338 Leasehold improvements 5,656 7,123 Facilities construction in progress 9,721 17 43,463 38,110 Accumulated depreciation and amortization ( 28,887 ) ( 31,765 ) Property and equipment, net $ 14,576 $ 6,345

Intangible Assets and Softwar_2

Intangible Assets and Software Development Costs (Tables)	12 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	The following table summarizes our intangible assets and software development costs at March 31, 2023, and 2022: March 31, 2023 March 31, 2022 Gross Net Gross Net carrying Accumulated Accumulated carrying carrying Accumulated Accumulated carrying (In thousands) amount amortization Impairment amount amount amortization impairment amount Finite-lived intangible assets: Customer relationships $ 19,809 $ ( 11,529 ) $ — $ 8,280 $ 20,391 $ ( 10,938 ) $ — $ 9,453 Non-competition agreements 3,487 ( 3,192 ) — 295 3,547 ( 2,808 ) — 739 Developed technology 11,166 ( 10,590 ) — 576 11,224 ( 10,440 ) — 784 Trade names 1,015 ( 426 ) — 589 1,075 ( 273 ) — 802 Patented technology 80 ( 80 ) — — 80 ( 80 ) — — 35,557 ( 25,817 ) — 9,740 36,317 ( 24,539 ) — 11,778 Indefinite-lived trade names 8,400 N/A — 8,400 8,400 N/A — 8,400 Total intangible assets $ 43,957 $ ( 25,817 ) $ — $ 18,140 $ 44,717 $ ( 24,539 ) $ — $ 20,178 (In thousands) Software development costs $ 67,541 $ ( 45,535 ) $ ( 22,006 ) $ — $ 67,541 $ ( 45,535 ) $ ( 22,006 ) $ — During the year ended March 31, 2023, goodwill increased $ 0.8 million due to business combination activity and decreased $ 0.9 million due to foreign currency translation. During the year ended March 31, 2022, goodwill increased $ 13.1 million due to business combination activity. During the year ended March 31, 2023 , finite-lived intangible assets decreased
Schedule of estimated future amortization expense on finite-lived intangible assets	Estimated future amortization expense on finite-lived intangible assets is as follows: (In thousands) Estimated Amortization Expense Fiscal year ending March 31, 2024 $ 1,208 2025 913 2026 913 2027 835 2028 602 Thereafter 5,269 Total $ 9,740

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of lease expenses and other information	The components of lease expenses, which are included in operating expenses in our Consolidated Statements of Operations, were as follows: Year ended March 31, (In thousands) 2023 2022 Operating leases expense $ 5,301 $ 4,752 Finance lease expense: Amortization of ROU assets 3 17 Interest on lease liabilities 1 2 Total finance lease expense 4 19 Variable lease costs 700 463 Short term lease expense 300 140 Sublease income ( 789 ) ( 782 ) Total lease expense $ 5,516 $ 4,592 Other information related to leases for fiscal 2023 and 2022 was as follows: Year ended March 31, Supplemental cash flow information 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 5,862 $ 5,536 Operating cash flows for finance leases 6 23 Financing cash flows for finance leases 4 19 ROU assets obtained in exchange for lease obligations (in thousands): Operating leases $ 8,292 $ 1,314 Weighted average remaining lease terms Operating leases 7.59 3.08 Finance leases 0.58 1.43 Weighted average discount rates Operating leases 6.44 % 7.62 % Finance leases 4.50 % 4.50 %
Schedule of future minimum lease payments, finance leases	The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the Consolidated Balance Sheet as of March 31, 2023: (In thousands) Operating leases (1) Finance leases Fiscal year ending March 31, 2024 $ 3,408 $ 2 2025 2,905 2026 2,726 2027 2,219 2028 1,431 Thereafter 8,816 Total undiscounted future minimum lease payments 21,505 2 Less: difference between undiscounted lease payments and discounted lease ( 4,765 ) — Total lease liabilities $ 16,740 $ 2 (1) Non-cancellable sublease proceeds for the fiscal year ending March 31, 2024 of $ 0.7 million is not included in the table above.

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information (Tables)	12 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Additional information related to the Consolidated Statements of Cash Flows is as follows: Year ended March 31, (In thousands) 2023 2022 2021 Cash receipts for interest $ 1,917 $ 47 $ 87 Cash payments for income tax, net 1,163 787 459 Accrued capital expenditures 1,400 89 103

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	12 Months Ended
	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Schedule of Additional information related to the Condensed Consolidated Balance Sheets	Additional information related to the Consolidated Balance Sheets is as follows: (In thousands) March 31, 2023 March 31, 2022 Accrued liabilities: Salaries, wages, and related benefits $ 11,170 $ 7,870 Other taxes payable 2,127 1,994 Professional fees 95 373 Other 316 315 Total $ 13,708 $ 10,552 Other non-current liabilities: Uncertain tax positions $ 1,178 $ 1,154 Employee benefit obligations 2,742 2,037 Other 98 113 Total $ 4,018 $ 3,304

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of income (loss) from continuing operations before income taxes	For the year ended March 31, income (loss) before income taxes consisted of the following: (In thousands) 2023 2022 2021 Income (loss) before income taxes United States $ 14,526 $ 1,598 $ ( 26,272 ) Foreign 1,238 4,913 5,063 Total income (loss) before income taxes $ 15,764 $ 6,511 $ ( 21,209 )
Schedule of income tax (benefit) expense	For the year ended March 31, income tax expense (benefit) consisted of the following: (In thousands) 2023 2022 2021 Income tax expense (benefit) Current: Federal $ 87 $ 62 $ 9 State and local 277 21 30 Foreign 1,070 853 731 Deferred: Federal 12 12 12 State and local 77 7 32 Foreign ( 341 ) ( 922 ) ( 1,022 ) Total income tax expense (benefit) $ 1,182 $ 33 $ ( 208 )
Schedule of effective income tax rate reconciliation	The following table presents the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the years ended March 31: (In thousands) 2023 2022 2021 Income tax expense (benefit) at the US Federal statutory rate $ 3,340 $ 1,368 $ ( 4,454 ) Expense (benefit) for state taxes 377 ( 65 ) ( 803 ) Impact of foreign operations ( 78 ) ( 819 ) ( 841 ) Indefinite life assets 20 19 43 Intercompany gain 177 — — Change in valuation allowance ( 2,276 ) ( 2,623 ) 7,271 Change in liability for unrecognized tax benefits 24 25 26 Share-based compensation ( 241 ) ( 2,018 ) ( 2,232 ) Global intangible low-taxed income 101 971 985 Deferred adjustments ( 281 ) ( 260 ) ( 478 ) Provision to return ( 31 ) 3,438 278 Other 50 ( 3 ) ( 3 ) Total income tax expense (benefit) $ 1,182 $ 33 $ ( 208 )
Schedule of deferred tax assets and liabilities	Deferred tax assets and liabilities as of March 31, are as follows: (In thousands) 2023 2022 Deferred tax assets: Accrued liabilities $ 8,748 $ 7,574 Allowance for expected credit losses and doubtful accounts 132 83 Federal losses and credit carryforwards 36,912 50,612 Foreign losses and credit carryforwards 3,555 2,793 State losses and credit carryforwards 10,080 11,179 Deferred revenue 291 193 Capitalized research expenses 11,399 — Property and equipment and software amortization 325 416 Operating lease liabilities 4,171 1,489 Goodwill and other intangible assets ( 536 ) 607 Other 185 163 75,262 75,109 Less: valuation allowance ( 67,928 ) ( 69,515 ) Total 7,334 5,594 Deferred tax liabilities: Operating lease right-of-use assets ( 3,153 ) ( 1,269 ) Goodwill and other intangible assets ( 3,659 ) ( 2,575 ) Other 12 ( 15 ) Total ( 6,800 ) ( 3,859 ) Total deferred tax assets, net $ 534 $ 1,735

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of amounts used in computing earnings per share and the effect on earnings and the weighted average number of shares of dilutive potential common shares	The following data shows the amounts used in computing earnings per share and the effect on earnings and the weighted average number of shares of dilutive potential common shares. Year Ended March 31, (In thousands, except per share data) 2023 2022 2021 Numerator: Net income (loss) $ 14,582 $ 6,478 $ ( 21,001 ) Series A convertible preferred stock issuance costs — — ( 1,031 ) Series A convertible preferred stock dividends ( 1,836 ) ( 1,836 ) ( 1,576 ) Net income (loss) attributable to common shareholders $ 12,746 $ 4,642 $ ( 23,608 ) Denominator: Weighted average shares outstanding - basic 24,694 24,357 23,458 Dilutive SSARs 1,059 1,063 — Dilutive RSUs — — — Dilutive unvested restricted shares 176 63 — Weighted average shares outstanding - diluted 25,929 25,483 23,458 Income (loss) per share - basic: $ 0.52 $ 0.19 $ ( 1.01 ) Income (loss) per share - diluted: $ 0.49 $ 0.18 $ ( 1.01 ) Anti-dilutive stock options, SSARs, restricted shares, restricted stock units, 1,741 1,736 4,228

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of share-based compensation expense	The following table summarizes the share-based compensation expense for SSARs, restricted and performance grants included in the Consolidated Statements of Operations for fiscal 2023, 2022 and 2021: Year Ended March 31, (In thousands) 2023 2022 2021 Product development 7,987 8,186 21,634 Sales and marketing 1,044 1,355 4,254 General and administrative 3,927 5,008 14,206 Total share-based compensation expense 12,958 14,549 40,093
Schedule of principal assumptions utilized in valuing service condition SARs	We use a Black-Scholes-Merton option pricing model to estimate the fair value of service condition SSARs. There were no service condition SSARs granted in fiscal 2023 or 2022. The following table summarizes the principal assumptions utilized in valuing service condition SSARs granted in fiscal 2021: 2021 Risk-free interest rate 0.31 % Expected life (in years) 4 Expected volatility 42.99 % Weighted-average grant date fair value $ 22.57 We use a lattice option pricing model to estimate the fair value of market condition SSARs. There were no market condition SSARs granted in fiscal 2023 or 2022. The following table summarizes the principal valuation assumptions utilized and the resulting fair value of market condition SSARs granted in fiscal 2021: 2021 Risk-free interest rate over contractual term 0.60 % Expected volatility 40.00 % Suboptimal exercise factor 2.50x Weighted-average grant date fair value $ 19.55
Activity related SSARs award	The following table summarizes the activity during fiscal 2023 for SSARs awarded under the 2020 and 2016 Plans: (In thousands, except share and per share data) Number Weighted- Remaining Aggregate (per right) (in years) Outstanding at April 1, 2022 2,172,939 $ 24.02 Granted — — Exercised ( 573,016 ) 18.70 Forfeited ( 27,463 ) 20.02 Cancelled/expired — — Outstanding at March 31, 2023 1,572,460 $ 26.04 3.2 $ 88,804 Exercisable at March 31, 2023 1,572,460 $ 26.04 3.2 $ 88,804 Vested and expected to vest at March 31, 2023 1,572,460 $ 26.04 3.2 $ 88,804 The following table presents additional information related to SSARs activity during fiscal 2023, 2022 and 2021: (In thousands) 2023 2022 2021 Compensation expense $ 3,188 $ 10,030 $ 35,808 Total intrinsic value of SSARs exercised $ 28,025 $ 34,437 $ 25,153 Total fair value of SSARs vesting $ 13,037 $ 6,439 $ 31,380
Activity related to restricted shares awarded by the Company	The following table summarizes the activity during the twelve months ended March 31, 2023 for restricted shares awarded under the 2020 and 2016 Plans: Number Weighted- (per share) Outstanding at April 1, 2022 147,973 $ 43.56 Granted 342,761 48.77 Vested ( 71,751 ) 45.73 Forfeited ( 11,659 ) 45.35 Outstanding at March 31, 2023 407,324 $ 47.53
Restricted stock activity	The following table presents additional information related to restricted share activity during fiscal years 2023, 2022, and 2021: (In thousands) 2023 2022 2021 Compensation expense $ 9,274 $ 4,339 $ 4,105 Total fair value of restricted share vesting $ 2,952 $ 3,297 $ 7,554
Restricted Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Schedule of principal assumptions utilized in valuing service condition SARs	We use a lattice option pricing model to estimate the fair value of restricted shares subject to a market condition. There were no restricted shares subject to a market condition granted in fiscal 2023 or 2021. The following table summarizes the principal valuation assumptions utilized and the resulting fair value of restricted shares subject to a market condition granted in fiscal 2022: 2022 Risk-free interest rate over contractual term 0.5 % - 0.9 % Expected volatility 54.0 % - 56.0 % Weighted-average grant date fair value $ 24.77 - $ 39.12
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Schedule of principal assumptions utilized in valuing service condition SARs	The following table summarizes the principal valuation assumptions utilized and the resulting fair value of restricted stock units subject to a market condition granted in fiscal 2023: 2023 Risk-free interest rate over contractual term 4.3 % Expected volatility 54.0 % Weighted-average grant date fair value $ 60.02 - $ 65.89
Activity related to restricted shares awarded by the Company	The following table summarizes the activity during the twelve months ended March 31, 2023 for restricted stock units awarded under the 2020 Plan: Number Weighted- (per share) Outstanding at April 1, 2022 — $ — Granted 67,856 71.62 Vested — — Forfeited — — Outstanding at March 31, 2023 67,856 $ 71.62
Restricted stock activity	The following table presents additional information related to restricted stock unit activity during fiscal 2023: (In thousands) 2023 Compensation expense $ 136 Total fair value of restricted stock unit vesting $ —

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Mar. 31, 2023
Business Combinations [Abstract]
Components and the allocation of the purchase price for acquisition	The following table sets forth the components and the allocation of the purchase price for our acquisition of ResortSuite: (In thousands) Total Components of Purchase Price: Cash $ 24,405 Total purchase price $ 24,405 Allocation of Purchase Price: Net tangible assets (liabilities): Accounts receivable, net $ 2,025 Other current assets, including cash acquired 519 Other assets 567 Current and other liabilities ( 768 ) Contract liabilities ( 2,835 ) Deferred income taxes, non-current ( 1,204 ) Net tangible assets (liabilities) ( 1,696 ) Identifiable intangible assets: Customer relationships 9,634 Non-competition agreements 848 Developed technology 827 Trade names 846 Total identifiable intangible assets 12,155 Goodwill 13,946 Total purchase price allocation $ 24,405

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Textual) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Significant Accounting Policies [Line Items]
Goodwill	$ 32,638,000	$ 32,759,000
Goodwill impairment loss	$ 0	$ 0	$ 0
Intangible asset, estimated useful life	15 years
Capital lease assets as a percentage of total assets	1%
Revenues from international operations	7%	7%	8%
Aggregate cash surrender value of underlying life insurance, net of policy loans	$ 1,000,000	$ 1,000,000
Present value of future proceeds to be received under corporate life insurance policies, liability	100,000	100,000
Marketing and advertising expense	4,800,000	2,600,000	$ 400,000
Commercial paper cash equivalents	$ 5,000,000	$ 15,000,000
Minimum [Member] | Building and Building Improvements [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	7 years
Minimum [Member] | Furniture [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	7 years
Minimum [Member] | Equipment [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Minimum [Member] | Software and Software Development Costs [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Maximum [Member] | Building and Building Improvements [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	30 years
Maximum [Member] | Furniture [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	10 years
Maximum [Member] | Equipment [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	10 years
Maximum [Member] | Software and Software Development Costs [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	10 years

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total net revenue	$ 198,065	$ 162,636	$ 137,176
Revenue recognized	45,300	38,100
Transfers to accounts receivable	1,700	2,400
Capitalized contract cost, net	3,900	3,300
Sales commissions and fees	3,600	2,500
Capitalized contract cost, amortization	1,300	1,200
Products [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	43,638	35,956	26,714
Support, Maintenance, Subscription Services, and Professional Services [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	$ 154,400	$ 126,700	$ 110,500

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 43,463	$ 38,110
Accumulated depreciation and amortization	(28,887)	(31,765)
Property and equipment, net	14,576	6,345
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,097	14,632
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,989	16,338
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,656	7,123
Facilities construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 9,721	$ 17

Property and Equipment, Net (De

Property and Equipment, Net (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation, including accelerated depreciation related to restructuring reserve	$ 1.8	$ 2.2	$ 2.8
Purchased for Internal-Use Software [Member]
Property, Plant and Equipment [Line Items]
Amortization of capitalized software	$ 0.6	$ 1.3	$ 2

Intangible Assets Goodwill and

Intangible Assets Goodwill and Software Development Costs - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 35,557	$ 36,317
Accumulated amortization	(25,817)	(24,539)
Net carrying amount	9,740	11,778
Total intangible assets, gross carrying amount	43,957	44,717
Total intangible assets, accumulated amortization	(25,817)	(24,539)
Intangible assets, net	18,140	20,178
Finite lived software development costs gross	67,541	67,541
Finite lived software development costs accumulated amortization	(45,535)	(45,535)
Finite lived software development costs accumulated impairment	(22,006)	(22,006)
Trade Names [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount, excluding accumulated impairment	1,015	1,075
Accumulated amortization, excluding accumulated impairment	(426)	(273)
Net carrying amount, excluding accumulated impairment	589	802
Indefinite Lived Trade Names [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount, excluding accumulated impairment	8,400	8,400
Carrying amount, excluding accumulated impairment	8,400	8,400
Customer Relationships [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount, excluding accumulated impairment	19,809	20,391
Accumulated amortization, excluding accumulated impairment	(11,529)	(10,938)
Net carrying amount, excluding accumulated impairment	8,280	9,453
Non-competition Agreements [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount, excluding accumulated impairment	3,487	3,547
Accumulated amortization, excluding accumulated impairment	(3,192)	(2,808)
Net carrying amount, excluding accumulated impairment	295	739
Developed Technology Rights [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount, excluding accumulated impairment	11,166	11,224
Accumulated amortization, excluding accumulated impairment	(10,590)	(10,440)
Net carrying amount, excluding accumulated impairment	576	784
Patented Technology [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount, excluding accumulated impairment	80	80
Accumulated amortization, excluding accumulated impairment	$ (80)	$ (80)

Intangible Assets Goodwill an_2

Intangible Assets Goodwill and Software Development Costs - Schedule of Estimated Future Amortization Expense on Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 1,208
2025	913
2026	913
2027	835
2028	602
Thereafter	5,269
Net carrying amount	$ 9,740	$ 11,778

Intangible Assets Goodwill an_3

Intangible Assets Goodwill and Software Development Costs (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of internal-use software and intangibles	$ 1,743	$ 1,654	$ 1,959
Finite Lived Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Business combination activity		12,200
Foreign currency translation	800
Amortization of internal-use software and intangibles	(1,300)	400
Goodwill [Member]
Finite-Lived Intangible Assets [Line Items]
Business combination activity	800	$ 13,100
Foreign currency translation	$ 900

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	Apr. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease commencedin next year	$ 1.4
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	3 years 6 months

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating leases expense	$ 5,301	$ 4,752
Amortization of ROU assets	3	17
Interest on lease liabilities	1	2
Total finance lease expense	4	19
Variable lease costs	700	463
Short term lease expense	300	140
Sublease income	(789)	(782)
Total lease expense	$ 5,516	$ 4,592

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 5,862	$ 5,536
Operating cash flows for finance leases	6	23
Financing cash flows for finance leases	4	19
ROU assets obtained in exchange for lease obligations:
Operating leases	$ 8,292	$ 1,314
Weighted average remaining lease terms
Operating leases	7 years 7 months 2 days	3 years 29 days
Finance leases	6 months 29 days	1 year 5 months 4 days
Weighted average discount rates
Operating leases	6.44%	7.62%
Finance leases	4.50%	4.50%

Leases - Maturities of Operatin

Leases - Maturities of Operating and Finance Lease Liabilities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Operating leases
2024	$ 3,408	[1]
2025	2,905	[1]
2026	2,726	[1]
2027	2,219	[1]
2028	1,431	[1]
Thereafter	8,816	[1]
Total undiscounted future minimum lease payments	21,505	[1]
Less: difference between undiscounted lease payments and discounted lease liabilities	(4,765)	[1]
Total lease liabilities	16,740	[1]
Finance leases
2024	2
Total undiscounted future minimum lease payments	2
Less: difference between undiscounted lease payments and discounted lease liabilities	0
Total lease liabilities	$ 2
[1] Non-cancellable sublease proceeds for the fiscal year ending March 31, 2024 of $ 0.7 million is not included in the table above.

Leases - Maturities of Operat_2

Leases - Maturities of Operating and Finance Lease Liabilities (Parenthetical) (Details) $ in Millions	12 Months Ended
	Mar. 31, 2023 USD ($)
Leases [Abstract]
Non-cancellable sublease proceeds, 2024	$ 0.7

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash receipts for interest	$ 1,917	$ 47	$ 87
Cash payments for income tax, net	1,163	787	459
Accrued capital expenditures	$ 1,400	$ 89	$ 103

Additional Balance Sheet Info_3

Additional Balance Sheet Information - Schedule of Additional information related to the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Accrued liabilities:
Salaries, wages, and related benefits	$ 11,170	$ 7,870
Other taxes payable	2,127	1,994
Professional fees	95	373
Other	316	315
Total	13,708	10,552
Other non-current liabilities:
Uncertain tax positions	1,178	1,154
Employee benefit obligations	2,742	2,037
Other	98	113
Total	$ 4,018	$ 3,304

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income (Loss) From Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income (loss) before income taxes
United States	$ 14,526	$ 1,598	$ (26,272)
Foreign	1,238	4,913	5,063
Income (loss) before taxes	$ 15,764	$ 6,511	$ (21,209)

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Current:
Federal	$ 87	$ 62	$ 9
State and local	277	21	30
Foreign	1,070	853	731
Deferred:
Federal	12	12	12
State and local	77	7	32
Foreign	(341)	(922)	(1,022)
Total income tax expense (benefit)	$ 1,182	$ 33	$ (208)

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at the US Federal statutory rate	$ 3,340	$ 1,368	$ (4,454)
Expense (benefit) for state taxes	377	(65)	(803)
Impact of foreign operations	(78)	(819)	(841)
Indefinite life assets	20	19	43
Intercompany gain	177	0	0
Change in valuation allowance	(2,276)	(2,623)	7,271
Change in liability for unrecognized tax benefits	24	(25)	26
Share-based compensation	(241)	(2,018)	(2,232)
Global intangible low-taxed income	101	971	985
Deferred adjustments	(281)	(260)	(478)
Provision to return	(31)	3,438	278
Other	50	(3)	(3)
Total income tax expense (benefit)	$ 1,182	$ 33	$ (208)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred tax assets:
Accrued liabilities	$ 8,748	$ 7,574
Allowance for expected credit losses and doubtful accounts	132	83
Federal losses and credit carryforwards	36,912	50,612
Foreign losses and credit carryforwards	3,555	2,793
State losses and credit carryforwards	10,080	11,179
Deferred revenue	291	193
Capitalized research expenses	11,399	0
Property and equipment and software amortization	325	416
Operating lease liabilities	4,171	1,489
Goodwill and other intangible assets	(536)	607
Other	185	163
Deferred tax assets, gross	75,262	75,109
Less: valuation allowance	(67,928)	(69,515)
Total	7,334	5,594
Deferred tax liabilities:
Operating lease right-of-use assets	(3,153)	(1,269)
Goodwill and other intangible assets	(3,659)	(2,575)
Other	12	(15)
Total	(6,800)	(3,859)
Total deferred tax assets, net	$ 534	$ 1,735

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2023
Operating Loss Carryforwards [Line Items]
Income Tax Holiday, Aggregate Dollar Amount	$ 2,700
Regular corporate income tax rate in India	50%
Valuation allowance	$ 67,928	$ 69,515		$ 67,928
Undistributed earnings of foreign subsidiaries	22,200	17,100		22,200
Unrecognized tax benefits that would impact effective tax rate	600			600
Changes in uncertain tax positions				0
Interest and penalty expense (benefit)	100	100	$ 100
Interest and penalties accrued	600	$ 600		600
Federal and State Deferred Tax Assets [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance	66,200			66,200
Deferred Tax Assets in Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance	1,700			1,700
INDIA
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	$ 1,800			1,800
Canada [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, Description	Canada losses can be carried back three years and carried forward 20 years.
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 132,000			132,000
Operating loss carryforwards, not subject to expiration	43,800			43,800
Foreign Tax Authority [Member] | Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	600			600
Foreign Tax Authority [Member] | Canada [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	600			600
Foreign Tax Authority [Member] | Singapore [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	500			500
Foreign Tax Authority [Member] | Australia [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	100			100
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 133,900			$ 133,900

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Contribution Plans (Details Textual) - 401(k) Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, matching contribution cost recognized	$ 1.7	$ 1.4	$ 0.1
100% on first 1% [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer matching contributions, percent of one dollar match for employee percentage match	100%
50% up to next 5% [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer matching contributions, percent of one dollar match for employee percentage match	50%

Employee Benefit Plans - Endors

Employee Benefit Plans - Endorsement Split-Dollar Life Insurance (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Present value of future proceeds to be received under corporate life insurance policies, liability	$ 100	$ 100
Aggregate cash surrender value of underlying life insurance, net of policy loans	1,000	1,000
Gain (loss) recognized on corporate-owned life insurance policies	$ (18,000)	$ 13,000	$ 31,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income (loss)	$ 14,582	$ 6,478	$ (21,001)
Series A convertible preferred stock issuance costs			(1,031)
Series A convertible preferred stock dividends	(1,836)	(1,836)	(1,576)
Net income (loss) attributable to common shareholders	$ 12,746	$ 4,642	$ (23,608)
Denominator:
Weighted average shares outstanding - basic	24,694	24,357	23,458
Dilutive SSARs	1,059	1,063
Dilutive unvested restricted shares	176	63
Weighted average shares outstanding - diluted	25,929	25,483	23,458
Income (loss) per share - basic:	$ 0.52	$ 0.19	$ (1.01)
Income (loss) per share - diluted:	$ 0.49	$ 0.18	$ (1.01)
Earnings Per Share, Diluted [Abstract]
Anti-dilutive stock options, SSARs, restricted shares, restricted stock units,performance shares and preferred shares	1,741	1,736	4,228

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Incremental common shares attributable to restricted shares (in shares)	407,324	147,973	132,198

Share-based Compensation (Detai

Share-based Compensation (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock [Member]
Stock Based Compensation (Textual) [Abstract]
Unrecognized stock based compensation expense related to non-vested restricted stock	$ 11,200
Weighted-average vesting period	1 year 3 months 18 days
Compensation expense	$ 9,274	$ 4,339	$ 4,105
Stock Settled Stock Appreciation Rights (SSARS) [Member]
Stock Based Compensation (Textual) [Abstract]
Unrecognized stock based compensation expense related to non-vested restricted stock	$ 0
Shares issued from treasury shares, net of shares withheld to cover applicable exercise price of award and to cover employee's minimum applicable income taxes (in shares)	403,079
Shares withheld to cover the employee's minimum applicable income taxes (in shares)	127,747
Compensation expense	$ 3,188	10,030	35,808
Restricted Shares and Restricted Share Units [Member]
Stock Based Compensation (Textual) [Abstract]
Shares issued from treasury shares, net of shares withheld to cover applicable exercise price of award and to cover employee's minimum applicable income taxes (in shares)	407,324
Restricted Stock Units
Stock Based Compensation (Textual) [Abstract]
Unrecognized stock based compensation expense related to non-vested restricted stock	$ 4,700
Weighted-average vesting period	2 years 4 months 24 days
Compensation expense	$ 136
Performance Shares [Member]
Stock Based Compensation (Textual) [Abstract]
Liabilities settled through granting of performance shares	400
Compensation expense	$ 400	$ 200	$ 200
Two Thousand and Sixteen Stock Incentive Plan [Member]
Stock Based Compensation (Textual) [Abstract]
Shares available for grant	3,100,000
Two Thousand and Sixteen Stock Incentive Plan [Member] | Restricted Shares and Restricted Share Units [Member]
Stock Based Compensation (Textual) [Abstract]
Shares available for grant	868,864
Two Thousand and Twenty Stock Incentive Plan [Member] | Restricted Shares and Restricted Share Units [Member]
Stock Based Compensation (Textual) [Abstract]
Shares authorized under 2020 Equity incentive plan	2,250,000

Share-based Compensation (Det_2

Share-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Noncash Expense	$ 12,958	$ 14,549	$ 40,093
Product development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Summary of share-based compensation expense	7,987	8,186	21,634
Selling and marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Summary of share-based compensation expense	1,044	1,355	4,254
General and administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Summary of share-based compensation expense	$ 3,927	$ 5,008	$ 14,206

Share-based Compensation - Prin

Share-based Compensation - Principal Assumptions Utilized in Valuing Service Condition SSARs (Details) - Stock Settled Stock Appreciation Rights (SSARS) [Member] - Black Scholes Merton Option Pricing Model	12 Months Ended
	Mar. 31, 2021 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.31%
Expected life (in years)	4 years
Expected volatility	42.99%
Weighted average grant date fair value (in dollars per share)	$ 22.57

Share-based Compensation - Pr_2

Share-based Compensation - Principal Assumptions Utilized in Valuing Market Condition SSARs (Details) - Stock Settled Stock Appreciation Rights (SSARS) [Member] - Lattice Option Pricing Model	12 Months Ended
	Mar. 31, 2021 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk-free interest rate	0.60%
Expected volatility, minimum	40%
Suboptimal exercise factor	2.50x
Weighted average grant date fair value (in dollars per share)	$ 19.55

Share-based Compensation (Det_3

Share-based Compensation (Details 2) - Stock Settled Stock Appreciation Rights (SSARS) [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Rights Outstanding at Beginning of Period | shares	2,172,939
Number of Rights Granted | shares	0
Number of Rights Exercised | shares	(573,016)
Number of Rights, Forfeited | shares	(27,463)
Number of Rights Expired | shares	0
Number of Rights Outstanding at End of Period | shares	1,572,460
Number of Rights Exercisable at End of Period | shares	1,572,460
Number of Rights Vested and expected to vest at March 31, 2022 | shares	1,572,460
Weighted Average Exercise Price Outstanding at Beginning of Period | $ / shares	$ 24.02
Weighted Average Exercise Price, Granted | $ / shares	0
Weighted Average Exercise Price, Exercised | $ / shares	18.70
Weighted Average Exercise Price, Forfeited | $ / shares	20.02
Weighted Average Exercise Price, Expired | $ / shares	0
Weighted Average Exercise Price Outstanding at End of Period | $ / shares	26.04
Weighted Average Exercise Price, Exercisable at End of Period | $ / shares	26.04
Weighted Average Exercise Price, Exercisable at End of Period | $ / shares	$ 26.04
Remaining Contractual Term Outstanding at End of Period	3 years 2 months 12 days
Remaining Contractual Term Exercisable at End of Period	3 years 2 months 12 days
Share Based Compensation Arrangement By Share Based Payment Award Vested And Expected To Vest Outstanding Remaining Contractual Term	3 years 2 months 12 days
Aggregate Intrinsic Value Outstanding at End of Period | $	$ 88,804
Aggregate Intrinsic Value Exercisable at End of Period | $	88,804
Aggregate Intrinsic Value Exercisable at End of Period, Vested and expacted | $	$ 88,804

Share-based Compensation - Addi

Share-based Compensation - Additional Information Related to SSARs (Details) - Stock Settled Stock Appreciation Rights (SSARS) [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of share-based compensation expense	$ 3,188	$ 10,030	$ 35,808
Total intrinsic value of SSARs exercised	28,025	34,437	25,153
Total fair value of SSARs vesting	$ 13,037	$ 6,439	$ 31,380

Share-based Compensation - Pr_3

Share-based Compensation - Principal Assumptions Utilized in Valuing Market Condition Restricted Shares (Details) - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 47.53	$ 43.56
Restricted Shares | Minimum [Member] | Lattice Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		0.50%
Expected volatility		54%
Weighted average grant date fair value (in dollars per share)		$ 24.77
Restricted Shares | Maximum [Member] | Lattice Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		0.90%
Expected volatility		56%
Weighted average grant date fair value (in dollars per share)		$ 39.12
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 71.62	$ 0
Restricted Stock Units | Lattice Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	4.30%
Expected volatility	54%
Restricted Stock Units | Minimum [Member] | Lattice Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 60.02
Restricted Stock Units | Maximum [Member] | Lattice Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 65.89

Share-based Compensation - Rest

Share-based Compensation - Restricted Shares Rollforward (Details)	12 Months Ended
	Mar. 31, 2023 $ / shares shares
Restricted Stock [Member]
Activity Related to Restricted Shares Awarded by the Company
Number of Shares, Outstanding at beginning of period | shares	147,973
Number of Shares, Granted | shares	342,761
Number of Shares, Vested | shares	(71,751)
Number of Shares, Forefeited | shares	(11,659)
Number of Shares, Outstanding at end of period | shares	407,324
Weighted Average Grant-Date Fair Value, Outstanding at beginning of period | $ / shares	$ 43.56
Weighted Average Grant Date Fair Value, Granted | $ / shares	48.77
Weighted Average Grant Date Fair Value, Vested | $ / shares	45.73
Weighted Average Grant Date Fair Value, Forefeited | $ / shares	45.35
Weighted Average Grant-Date Fair Value, Outstanding at end of period | $ / shares	$ 47.53
Restricted Stock Units
Activity Related to Restricted Shares Awarded by the Company
Number of Shares, Outstanding at beginning of period | shares	0
Number of Shares, Granted | shares	67,856
Number of Shares, Vested | shares	0
Number of Shares, Forefeited | shares	0
Number of Shares, Outstanding at end of period | shares	67,856
Weighted Average Grant-Date Fair Value, Outstanding at beginning of period | $ / shares	$ 0
Weighted Average Grant Date Fair Value, Granted | $ / shares	71.62
Weighted Average Grant Date Fair Value, Vested | $ / shares	0
Weighted Average Grant Date Fair Value, Forefeited | $ / shares	0
Weighted Average Grant-Date Fair Value, Outstanding at end of period | $ / shares	$ 71.62

Share-based Compensation - Ad_2

Share-based Compensation - Additional Information Related to Restricted Shares (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 9,274	$ 4,339	$ 4,105
Total fair value of restricted share vesting	2,952	$ 3,297	$ 7,554
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	136
Total fair value of restricted share vesting	$ 0

Preferred Stock - (Details Text

Preferred Stock - (Details Textual) $ / shares in Units, $ in Millions		12 Months Ended
	May 22, 2020 USD ($) shares	Mar. 31, 2023 d $ / shares
Class Of Stock [Line Items]
Trading days | d		20
Consecutive trading days | d		30
Minimum percentage of common stock price to conversion price		150%
Debt Instrument, Convertible, Earliest Date		Nov. 22, 2023
Preferred stock, dividend percentage		5.25%
Dividends declaration and payment terms		The Holders are entitled to dividends on the Liquidation Preference at the rate of 5.25% per annum, payable semi-annually either (i) 50% in cash and 50% in kind as an increase in the then-current Liquidation Preference or (ii) 100% in cash, at the option of the Company.
Change of Control Event Description		Upon certain change of control events involving the Company, the Company has the right, and each Holder has the right, in each case, at the initiating party’s election, to require the Company to repurchase all or a portion of its then-outstanding shares of Convertible Preferred Stock for cash consideration equal to (i) 150% of the then-current Liquidation Preference for a change of control occurring prior to the third anniversary of the date the Convertible Preferred Stock is initially issued, (ii) 125% of the then-current Liquidation Preference for a change of control occurring on or following the third anniversary and prior to the fifth anniversary of the date the Convertible Preferred Stock is initially issued and (iii) 100% of the then-current Liquidation Preference for a change of control occurring on or following the fifth anniversary of the date the Convertible Preferred Stock is initially issued.
Preferred stock convertible percentage of outstanding common stock		10%
Percentage of owning in excess of outstanding share of common stock		25%
Common Stock [Member]
Class Of Stock [Line Items]
Price per share | $ / shares		$ 20.1676
Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Voting right description		The Holders are entitled to one vote for each share of Convertible Preferred Stock upon all matters presented to the common shareholders of the Company
MAK Capital One, LLC [Member] | Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred stock issued | shares	1,735,457
Preferred stock issued, value | $	$ 35
Payments of stock issuance costs | $	$ 1

Business Combination - Addition

Business Combination - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 05, 2022	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Intangible asset, estimated useful life		15 years
Weighted Average Period			12 years 8 months 12 days
Goodwill		$ 32,638	$ 32,759
Increase in goodwill		$ 800
Trade Names [Member]
Business Acquisition [Line Items]
Intangible asset, estimated useful life		5 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible asset, estimated useful life		15 years
Non-competition Agreements [Member]
Business Acquisition [Line Items]
Intangible asset, estimated useful life		2 years
Developed Technology [Member]
Business Acquisition [Line Items]
Intangible asset, estimated useful life		5 years
Resort Suite [Member]
Business Acquisition [Line Items]
Cash	$ 22,600	$ 24,405
Acquisition date		Jan. 05, 2022
Contract Liabilities	2,800
Goodwill		$ 13,946
Acquisition costs		200	500
Revenue attributable		5,200	$ 1,300
Total purchase price	24,100	24,405
Tax Liabilities	2,200	$ 1,204
Business combination cash received upon escrow funds	400
Cash received in acquisition partially offset	$ 300

Business Combination - Componen

Business Combination - Components And The Allocation of the Purchase Price for Acquisition (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 05, 2022	Mar. 31, 2023	Mar. 31, 2022
Identifiable intangible assets:
Goodwill		$ 32,638	$ 32,759
Resort Suite [Member]
Components of Purchase Price :
Cash	$ 22,600	24,405
Total purchase price	24,100	24,405
Net tangible assets (liabilities):
Accounts receivable, net		2,025
Other current assets, including cash acquired		519
Other assets		567
Current and other liabilities		(768)
Contract liabilities		(2,835)
Deferred income taxes, non-current	$ (2,200)	(1,204)
Net tangible assets (liabilities)		(1,696)
Identifiable intangible assets:
Total identifiable intangible assets		12,155
Goodwill		13,946
Total purchase price allocation		24,405
Resort Suite [Member] | Trade Names [Member]
Identifiable intangible assets:
Total identifiable intangible assets		846
Customer Relationships [Member] | Resort Suite [Member]
Identifiable intangible assets:
Total identifiable intangible assets		9,634
Non-competition Agreements [Member] | Resort Suite [Member]
Identifiable intangible assets:
Total identifiable intangible assets		848
Developed Technology [Member] | Resort Suite [Member]
Identifiable intangible assets:
Total identifiable intangible assets		$ 827

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Deferred Tax Valuation Allowance [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of year	$ 69,515	$ 74,631	$ 66,819
Charged to costs and expenses			7,812
Deductions	(1,587)	(5,116)
Balance at end of year	67,928	69,515	74,631
Allowance For Expected Credit Losses [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of year	318
Charged to costs and expenses	620
Deductions	(328)
Balance at end of year	610	318
Allowance for Doubtful Accounts [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of year	$ 318	1,220	1,634
Charged to costs and expenses		117	508
Deductions		(1,019)	(922)
Balance at end of year		$ 318	$ 1,220