Dave, you, call. XXXX earnings fourth and our everyone. good quarter to Thank Welcome fiscal afternoon,
CFO. this in today on am me Dave Atlanta. Tony in Pritchett, Vegas Joining call in and and is while Tony participating from our Las my the base call I home Dave are
challenging families are well doing times. healthy colleagues these and and hope all of incredibly your you We and staying during
the multiple revenue User and then even on February at Conference a industries quarters the better Orlando. a January momentum two with across Hotels record quarter reported, quarters it. tail organizations before period It Inspire much carrying started got through fourth in Rosen one. other many high very the during held We on within fiscal was Like have our our XXXX Resorts March of quarter, of seven note consecutive
the customer Vegas. by vertical hotel The of customer the conference seen XX% from Las year-over-year. than highest users Attendance a was location up attendance other have highlighted and we was at resorts
up for users overall two XX, us our number customer metrics The year-over-year. staff technical of crucial XX% setting further discussions, customer attending training for up user engagement conference was up classes meetings was X-X, with and additional product
innovation on couple the last product full increase velocity display. was years of Our during
everything additional we couple know March. rGuest check were nice like then mobile become did rooms Little must in during ones that during Service then being many and the move check would packed modules on-demand changed of out, conference in, to just conference temporarily months discussed which from a modules have have to and later
about context of virtually of was spite quarter the the the XX% hospitality In the sales during quarters, during the down last happened shutting which average month during percentage quarter four of the during that XX%. To March. put in industry completely happened previous about of actually sales
for the less was the under still that a good March typical of mission a the circumstances. industry. March of extraordinary under was us during provide than our this critical March reasonably are good third we sales While happening month for QX circumstances solutions reminder much it tough such was One
companies are revenue As based revenue unlike course, to normal a the use that software two recognition reminder, on indicate enterprise other us. please revenue business like of recognized Revenue terms standard and note rules, we is, organizations, or metrics. many different which less across sales more
current and agreement refer terms products value of signed. customers to actual to and signed for services. sale sales the sale use We term with annual of We in measure such prospective new contract agreement sales, however,
the time There sales involved is the obviously lag use selling to activity value in tend conversion refer all to and also thing term annual contract sales, bookings to to same a of We the revenue. sales.
March consecutive quarter back our record XXXX. happened, changes towards us eight our causing fiscal on guidance our for the our were drastic revenue well switching way miss to when we narrative, to revenue Now quarter
was an last fiscal revenue representing was Fiscal full increase year. that a representing fiscal million increase a point year million, record another QX million point XXXX, X XX.X% XX.X, of QX QX $XX.X is, record. X-X XXXX. recurring of over over new dollars X-X-X revenue X% X was revenue $XXX.X million $XX.X
slowdown Services due sequentially Subscription of closures. XXXX year. travel QX QX third revenue over restrictions to QX last up a and over up was of up fiscal last quarter year, X.X% and despite fiscal was was the XX.X% XX% over during in significant March site Professional fiscal revenue
for EBITDA of you QX during of increasing QX benefit full XXXX EBITDA $XX, was $X.X over XX% fiscal adjusted year. XX% fiscal take out was in XXXX Overall, the XXXX a capitalized if software fiscal million fiscal X-X, XXXX. million, or last was $X.X million improvement the during Adjusted actually compared to $XX
XX, for to QX During these of we new any customers, selling have new products agreements, XX signed closed which added fiscal properties properties, agreements products which XX which our the customers, during XX quarter. sites, and XXXX, product Of X-X, to X-X, property. January again, were March new sales that sales did signed not and were XXX new new of new new instances a XX, before or
the The Sea IG intercontinental at highlights Los the win via among POS South Comwell kiosks hotel IG And POS IG sales with and on XX in Rock Resort site at win state rGuest British The POS resorts The Angeles the Carolina. XXX Virgin with sales win state Pines sector. demand in The the were The rGuest IHG huge resorts in the POS and PMS win win sports Jose in IG at with San and team of win Chicago. quarter. in property win rGuest the entertainment PMS Islands. and Saba Denmark.
was customer topics, quick was fiscal best many customer with years. percentage XX% one update on our retention, best well respect Before we our to in in again move memory XXXX retention year retention recent Customer on other success. and over to
the annual customer We simple as year it way. of reverse old measure cannot customer We a revenue. report XXX%. during recurring by churn churn measure a annual of churn and and division -- the customer retention as we lost than a total revenue in measure conservative customer retention fashioned our be therefore more of retention customer And XXX customer customer as minus percentage definition recurring percentage
that note revenue. a percentage of percentage and measure Please as churn revenue we recurring a of only not total as customer
half total recurring if our revenue, revenue retention of is its our it better Given and think churn about you of even total reverse as customer percentage is revenue.
terms dollar designed and are to We retention make formulae often express many retention software different great aware them a of that variety customer numbers than companies the look to XXX%. report in higher be using
revenue extent XXX%, during our and in also from would extent of repeat any far methods, retention be because rate we get loss customers of of business new products new use the dollar year. property of we those terms current If the the higher significantly than exceeds recurring sites
continue the old fashioned to that calculating right we of believe method customer revenue of is a measures. However, retention the as recurring percentage
recurring derive recurring well XX% of our by further base increases with you our more retain consistent business to also continue revenue than year-after-year. act in We through revenue significantly as and can expansion
February about Going the is, than international and agreements sales. year measured in period. contract February by the back of that XX% past sales subject January sale the to average January, was higher this a annual slowdown closed over during a value February years XX% Sales despite X-X, four during of
typical March are to was fiscal a use of year slowed was sales level. high-end February close quarter to as XX%, still we expected not XX% to While during It to. the down and was the be X-X-, and
past current during quarters average percent, Sales during at May the and far the at of fiscal about quarter. four QX that X-X XXXX the has of April in is same quarter been time the comparable so XX%, the
will of global are innovation current everything still mission the These realities spite deals core that pandemic critical shutdown, our to close our help virtually valued enhancements, continues better. this manage would of normally we reiterate XX% of and point, products in able we and modules to customer causing out to are additional expect. churn product engine To about value which
As we during multiple with have in of these especially marketplace customer the have past introduced already new year. before, sites. Many you been couple modules years past modules during the in we implemented the software many have discussed of
These on a smartphone the enabling out use rGuest in checking without keys. for digital any of Express checking need PMS Mobile one’s modules of hotels including human based entirely include, one, solution and contact
Kiosk and used to purposes. solution, check PMS out other a similar be in for and Express check which rGuest can Two,
away We the through concierge have now pens. this Guests so using throw bring touch-free our stylus or can desire keys new kiosk model. if they or to personal be kiosk essentially the use through mobile of
and other assets. This the of optimization and along frequent desk. staff hotel module staff matters less the the of hotel maintenance Number in the around desk way reception housekeeping hotel enables and crowding between for communication room crucial guest operations including Service, reception all a rGuest other SMS and on enables with readiness the and checks with which three, preventive two management reducing reception need PMS including at
POS POS, is It QR phone mobile integrated takeout end. remote app demand this a InfoGenesis last on our from delivery introduced back a module for ordering using with Four, a and items year. rGuest software which POS products, the completely of family code website of our enables food during beverage was for in or and or is
introduced and other charge POS a for QR eliciting serious recently or through device necessary. customers. authorized a and interest guess to many or or food This This code no touch mobile scanning initiate on to Agilysys PMS. Five, was payment enables module contact room both the a receipt from with human beverage
One X-X, centers of week. than of customers these more module XX than across signed across XX, just this use more for this profit up
forms also of six, payments, Number payments. other contactless have introduced we contactless
provide place. as their online to direct golf customer our customer Number from important handle reservation, and group become even commission includes base the sites, already a channel modules seven well. customers booking all and book, This modernized to the With reservations rGuest now. installed for can rGuest golf in spa multiple spa one ability need engine for rooms, now the book guest new zero our more ability has
-- supports the supports lounge restaurant a our center. Properties comfort of have their doll in eight, performance or cabana an they pool booking also social their outlet to application yielding and monetize this a of Number specific now a process seat product promote any The tools reservations. area house application the a seat seats of reserve and providing to see a now view level booking operator the distancing can Seat, assets. in outlet Guests guest chair increased in a rGuest managing right their giving as reservations property. this across of additional an make a now or opportunity or at specific
most Now of have recently Such part less. become with modules enabling modules is introduced the past, enables only during we hospitality till have operational that modules. social do nice improve all have were distancing new the more have which must the efficiencies, and recent a to list subset now operators and for to
Our minimizing look as operators core maximize efficient solutions to management be mission current in enabled our always inventory scenario highly variable to but revenue have customers while these POS/PMS solutions have critical and cost. the become
While the clearly have previous sales closed number March, quarters. of during April down to compared and agreements May, been
involved been May saw double during surprised find almost we the and the have level our to regarding and January It’s products modules. product demos of February. number emerging We we been April especially during have and been software in that
innovation The years current of fortunate couple that and contactless of service are is trend been now. mobility around busy for have with product to unmistakably and precisely we solutions, kind a
a down and property payment. our way all enable now and Both beverage end-to-end food contactless PMS across through experience POS initiation a solutions till frictionless order guest the all from the lodging journey and
more our modules in has so. as software been One adopters from revenue. or reopen. XX% our revenue plans they month other to to our The of gaming note, particularly emerging Many past the be constitutes of modules gaming than to high interest customers emerging casinos finalize them from likely are casino detail the software during of early
MAK fiscal balance the additional of cash $XX QX position our Capital The with to $XX.X XXXX crisis convertible level a investment QX sheet, preferred provide respect recent come the We XXXX. of fiscal of strength. highest balance to will million With with into calendar we million sheet by our balance XXXX since June strength. fortunate ended were
business of a known Mr. him, is our the confidence us think our Capital CEO than thus Chairman the of of better cannot MAK Kaufman in is knows say vote also anyone of Board. lot. his well I As Mike who
on financial our fiscal are R&D do customer with record and strength performance XXXX focus a levels of lot and has in innovations improved increase in and product to service. passionate Our
comfortable the resources to product tripled have to enable our and ability The January number safe involved since have enhanced provide. resulted in of journey, now solutions end-to-end increase calendar that XXXX contactless, in has customers with and kind guest of our has to development customers current provide our need an
to and situation customer the and other competitive We and better to current this going side positioning. an through crisis this differentiation the keep determined of even expect service engines with are innovation reach
to to product no While most development taken to we cost have have minimal service of been other organizations, reductions take we care like steps forced steps ensure impact customer have and multiple on areas. our such
of to in and drastic uncertainty sales on the assessed lack and of was future the clarity by our projections Due revenue change profitability sheet. balance macroeconomic and product, development conditions capitalized software the cost with impediment most there
future practice As costs does fiscal you strategies as This impairment calendar investment discontinued are ongoing XXXX. affect development of capitalizing XXXX action product of the or anyway. software aware, we in are not and January QX
hard customers. particularly on the pandemic This been have and our related closures
have best and concessions. them partner to We have of business various and with responsible one-time forms our tried credit help be strived to a product
use concessions the provided and demand executed sites signing of have for days. free are of the the product XX product About this rGuest customer use up. process on contracts is of Among another in sites XX for XXX
shape. revenue and long-term to one-time provided take hurt will our short-term the recovery in product medium is credits Such help level, once use us begins and the but concessions going to
These short-term and reasons. due due We expect that to sales almost concessions to our will are to a The levels. to buying by in business possible XXXX due April in be to the A decisions. year-over-year decline to June two provided postponements entirely fiscal declines due QX be XX% will of customers. remainder portion significant revenue one-time to be declines down
the out fiscal to almost to QX about one-third QX of of during expect across two-third respect provided customers, and one-time be XXXX. concessions equally to effect be to the we With QX felt QX, that remaining spread and
QX. as should not declines including note declines expected areas to be are recurring help interpreted Such be having and as and multiple revenue show retention. to these during strictly will temporary up to actions do customer with Please customers anything in revenue one-time
We continue to do well retention. with customer
to with starting are We already sites process of signs see recovery reopening. beginning the
QX, be the pandemic QX low keep we year-over-year Assuming steadily April to better. in recovery the revenue improving point. continues QX be quarter through expect thereafter, decline and the should process progressively to June XX% QX
at we However this curve be. to that will stage, predict how improvement unable steep are
and considerably. sales levels the decision On while sales the one remaining hand, at services down other high slowed we on pipeline and find have the our backlog processes hand now, in finalization product making
therefore not to are now meaningful in overall fiscal levels. a profitability provide any We on position guidance XXXX revenue and
even all breakeven Regarding place reductions profitability, the revenue with of possible we QX adjusted given the currently quarter. cost EBITDA expect in be XXXX, for XXXX we the fiscal steps face to approximately fiscal quarter reductions in first the
be huge a in to will growth. sufficient is current come this phase While this good will we in every and definite hospitality circumstance industry to have our industry of the partial in out We reason believe we remain reasonably recovery shape. the a small setback, even player relatively fuel
product our and There keeping good in need experiences by make is overall the reduced possibility and technology service. keeping up of be safer levels that an customer could short-term compensated are focus hospitality industry to for pace innovation solutions on business the comfortable. increase more the guess a We
We technology expect financial performance and the in of quality should solutions that such well. be much needed providing to serve our frontline high
for Tony me further hand financials details. color With and over to that, our other business let Tony? on
