call. Jess. Thank earnings Welcome fourth year to Good full evening. quarter you, the fiscal and XXXX
Wood, our on and me the call is today CFO. Jess Dave Atlanta Joining our in headquarters
profitable allowed during current for would short, was positioned revenue only or say during the I and term." and state good long the I If business, describe sentence growth discipline medium solid call our phrase this one of to "well
all services; competitive products during to based few smart on headlines years strength our have how industry, growing for past give native past and technologies; macroeconomic and ourselves expanded advantages hardworking volatile considerable regardless We've greatly portfolio three hospitality been. quarters of product worked state-of-the-art the hard and with a have especially from have stable, built the and strength the to are talented team; cloud over the
opportunities years, us significant right several and utmost prudent the significantly profitable. We are are few additional growth diligence working additional are phase on giving revenue fueling we and carefully growth spend the through over with next managing now currently current reasons while for investments remaining increased which
Let in value sales and system, me numbers other before revenue first All PMS, sales any measured in to in are sales does terms. other announced and discuss details December property Marriott the this cover we details. The figure of management last success related annual sales moving not contract call this details in the selling narrative. and win mentioned
year good fair our sales sustained best last selling all our best enjoyed ever, fiscal best the sales XXXX around the quarter best and distances was was success March our We've August. compared to January-March since was ever, month sales improving quarter by previous and ever, periods.
prospective native end-to-end enhance depth sales and and built cloud and for functionality breadth customers. ecosystem the years of the state-of-the-art are technology, The continue we've products value propositions hospitality sets, focused during few to our of making compelling past feature the
the verticals fiscal Sales EMEA the at increase XX% Every ratios sales global remain to than of win/loss region. higher compared high year. to one fiscal previous XX% in including during fiscal XXXX continue our Overall a levels. better XXXX, impressive during sales in XXXX was did
services getting for record a managed to being ships. this the levels. and resorts, cruise R for to and H as for hotels, cruise year Apart for gaming the for C back food verticals, in vertical, sales record pre-pandemic high major also great resorts ship sales we was hotels, XXXX Fiscal a year EMEA HRC sales a for for from sales and sales refer vertical, three which the those casino internally; vertical year record was close sales
only remained vertical. APAC the challenging
XXXX While levels. during APAC than sales to close still was pre-pandemic XXXX, it was fiscal fiscal nowhere higher
has activity purchase against sales opportunities decision in there several months, as we making recent a to their we processes well during the competitors significant in levels. in current continue face with region increased continue few significantly many the compete entrenched delays instances and to APAC low big pricing long While in sales pipeline,
international We which committed have be in a feature have that APAC marketing good remain products fiscal makes with remain New good the XXXX markets, year product region. our sales and Zealand, the our investments confident competitive APAC sets many progress and more made added region, in in sales in should and Australia
XX, subscription to XXXX, global which sales With how software subscription improvement record; sales come. our a a XX% record previous higher the was fiscal far that best to period year, have higher is XXXX, which XX% fiscal new set a eight, XX% also was in time. testament a categories, at one than across two-year sales respect XXXX and fiscal products than
development license-based product also fiscal our have during software native sales, validating past off innovative implemented Surprisingly, software was work can perpetual XXXX creating premise the on which same the few the non-subscription solutions, years, year base. be excellent an done teams also cloud for SaaS code
advantage software Many unified being also to for add-on through some installed have of subscription-based able on-premise with the portion needs to where to on experience cater arrangements continue modules in implementations, us. agreements implemented core of are hybrid engine the a premise while the Several hospitality one products is to tended have be and significant licenses. enhancer innovation most cloud their sales providers prefer competitive involved also
over assume think subscription-based we current time. convert of installations to reasonable addition, cloud and In it's many the choose will the to on-premise licenses to
a record ago. XXXX years also the several Fiscal some of year year previous ahead best comfortably sales, for services was
customers. sales four or an March during our signed six value we added respect added XX QX, is purchased new to we new was of This of contract that sales new customer year to modules respect There agreements. fully average one-five, in years agreements which quarter. products XX, annual best January With to was the per during with to XX subscription total customers, were of
also parent our already eight-zero, added properties new which customer. we before, to of We the XX, added tend not was XX did any quarter, have company during but refer also to our products We the new this Of added than fully were more quarter sales. nine-zero, or software customers, during based. new than the either properties XX, current partially license and site subscription XX% the new more XX as across
total new were category a which XXX also about instances a least quarter. current product products of instances many sales. preceding There numbers. QX sales our as and instances referred of properties at XXX, XXX as the had is other involve to one-one-five, of sales were XXX such all-time XXX actual to to product instances one properties These selling sales were that agreements XXX one the twice XXX customer sold products, additional as products. of The of product we new best Both already
of fiscal there During current we instances were of XXX a to customers involving sites product year full current total added of XXXX, property products. properties XXX and new sales new XX XXX new customers, new
property wins were management seven preceding system, to the PMS, There compared the such sequentially in core quarter XX QX wins during new quarter.
sales. momentum PMS and presence and We see are credible space now to most continue the increasing RFPs PMS presence in a in in PMS
XXXX experience Software compared sales was enhancer modules fiscal and PMS pertaining in higher add-on related to to fiscal XXXX. XX%
commitments the high the conviction high many take a to them and people. is million, macroeconomic to to were are and were levels organizations made, team. revenue business best, we'll carefully raise guidance to our and move having proud remarkably midst associated will holding about Most their of this great do or, makes then tough stories and, end team. to traded being in revenue once be that culture success When circumstances, commitments the range whatever to publicly good at them reducing due on by mountains while Now, million a $XXX XXXX Agilysys execution here takes; QX of This teams. year full are happen. $XXX.X with on credit all-time give million $XX.X is both to guidance $XXX the pause Fiscal group, to extraordinary intelligent, remarkable caring, respectively, want I'm records. revenue such achieving revenue. which very hardworking, and million to make personally it I
Annual of higher year pandemic the million higher was of revenue fiscal revenue which affected the by was full XXXX. than $XX during level has about more in about turn than subscription by $XX than million little XXXX than through million Fiscal million more $XXX.X has little XX, a of during XX, in a which $XXX.X growth million, XX% was $XXX.X six-zero, revenue XX% XXXX fiscal revenue two one-nine, years, grown been past the revenue.
of half and was XX.X%, XXX, recurring QX in about fiscal recurring million XX.X% $XXX increased the year was revenue one-one-eight, more $XX.X it, constituted revenue which XX, subscription quarter million. year-over-year Overall, revenue subscription subscription of revenue. full $XX.X was million, to recurring revenue full than revenue XXXX five-zero, first year for overall
software is usually to unit which to revenue with continue cloud short-term and transition levels, subscription enterprise with We typical our effects detrimental a manage the on based efforts. revenue such associated
nine-zero, Steady in of high were internal fiscal good then fiscal from XX% modules, modules value subscription past add-on higher by sequential than XX% a and 'XX, of subscription levels close grew Subscription were to on was revenue during to XXXX. XXXX. product retention fiscal recurring increase development during total in created to ground now absolute quarter-over-quarter our is XX-plus fiscal years in customer state-of-the-art revenue XXXX, was testament subscription from also up revenue In XXXX in most total add-on one-six, XX%, good the revenue few in revenue X.X% to X.X% XX% during XX, a of fiscal levels. terms, XXXX, the which our these
modules, it exponentially points easier the benefit is such value required competitors look one from handled software to our to also needs. most products possible needs, the pace for innovation of vendors other they technology of higher additional complex when add-on end-to-end third-party these are continue tend provider. high various make their for the by for Most which to modules rely of on major and for and which get Customers cloud-native additional them from core integration manage
We of X.X our XXXX. continue Agilysys to products exiting X.X installed about base, to compared have opportunities fiscal XXXX exiting XXXX and growth X.X customer significant number customer of average ahead fiscal Even within fiscal X.X, was us. the exiting XXXX, exiting per existing revenue
have external which add-on arsenal, have a with the relationship still today. market already of our also to size. enormous huge market customers we times course, total software customer state-of-the-art our addressable XX-plus With is we modules addressable this base, a our several in And an with is
in QX the within considerably Implementation time now recently the have have $XX time. and XX.X%. first for relatively add-on core more services record become a a processes increased to margins services and million, and over fiscal revenue QX improved $XX.X reengineered revenue XXXX exceeding newer quarter was million software modules of efficient.
XX% to around fiscal expect XXXX. at during We margins remain services
for cash overall cash indication and our collections. is good XXXX Another a by the year far business collections of ever. our of great great year Fiscal was best health
in up. after We not we to or and just business remain continue everything low revenue disciplined to do margin go levels low keep quality
backlog implementations product including levels subscription with entered across about sold, entering fiscal customers; implemented; by We've revenue levels three be three, already revenue, but services to XXXX. of for the entering saw to two, yet customers terms than record delivered already in overall worked hardware to perpetual on. all XXXX remaining lines: is and higher be be with backlog but engagements XX% The recurring licenses one, and levels fiscal to signed software we fiscal signed to yet combined revenue, respect XXXX
not with seen Our we up yet has have operating higher levels record not implementation been has engine at engine caught fully before, pace. increasing this and our sales
While for increase working our delaying diligently challenges us, not to are management implementation are on implementation we the improve and recognition capacity. reasons processes revenue all certain
bigger, working of We proportion are complex higher more installations. a multiproduct through
with with build initial included do any Some of Marriott PMS implementations, to of up these numbers. been the also other the is backlog sites follow where backlog have soon. not at reasons project multi-property completed installation to for have the site The in sites
are the well all backlog and become at visibility and balanced healthy and happy levels revenue on we sure engines remains product, While our certainty, give working backlog levels. the of with execution services making increased us, recurring such are we
will product of portion increases the throughout in on services less give or was services required enhancement progressing weeks revenue. are our and and deliverables tranches product more deliverables enhancements initial recognized An the and well, here there. March. and the remaining completed driving of Delivery take a Regarding delivered project, Marriott of fiscal XXXX, PMS are tranche during continue few or schedule
properties several majority involving are partners. project parts There of this involves of rollout undertaken, to multiyear in many thousands has transformational Marriott This the luxury for us Canada. and vendor of PMS service, the and their U.S. Marriott select across of premium project the
this rollout now, stand is expected As to things XXXX. fiscal begin early
three approximately install rooms continue Marriott expect the across of customers. during the next other our XXX,XXX sales and PMF project driven PMS successes about increasing We by four triple our years, to prospective to to current base
asked the rest growth other to plans. recently. will PMS note question times answer not a challenges or One project distraction Marriott respect The to any a cause quick of we've been our business with few
We within dedicated and development three of have currently are are services product supporting, are a along team continue capacity services this as of now of customer dedicated to other already we entirely major other project on who with product PMS subset We who and personnel, the selling team the focused of a and for one a personnel, project and deliverables. development expand projects. resource Marriott needed the teams products have for
that rest on focused growing on PMS aspects our that other products, our to hospitality with be do the assured all focused non-Marriott teams, Apart the other Marriott and opportunities. our including all nothing of personnel have with executing of support all and are from our of on Marriott growth products, well project. activities personnel Please the services, universe business on and are the dedicated most business
All to XX%, to annual XXXX XX% things grow about considered, that and one-nine. is by we fiscal one-six revenue expect
grow We Between driven of grow lines, $XXX by percentage. expect revenue subscription revenue a by of range professional services higher XX% and by million, expect fiscal among growth XX%. year-over-year factors in to revenue to revenue XXXX the we other XX% million year-over-year $XXX to and and services product be annual about
levels EBITDA XXXX to fiscal XX%. decrease year adjusted We to full one-three, for XX, expect
are we investments a compelling fiscal on. additional other cost to and the fruition have year opportunities ensure make working this bring management, services, We network development, subscription product fiscal to support, sales across we this need marketing for other beyond cloud significant revenue infrastructure, year and and growth currently to
capacity expansion are happy this have feel with process given already year. going regions the comfortable and fiscal of Recent happening. in levels others various expansion has and sales aspects sales across Many of happened of teams the into we
We are expanding marketing spend appropriate. wherever
various of generally are half. not first year happen apply elements do fees, there cost which and two audit in addition, during the participation to second to shows, In fiscal the like internal and trade tend events quarters the
We also revenue to the sequentially levels expect increase year. quarter-over-quarter throughout steadily
percentages, and and Taking to increase high-single cost even to by of digit possibly expect XX%. be as all we factors, into as account levels, profitability quarter with low during EBITDA QX levels as and these each meaning adjusted increases end stabilize QX, revenue an low level revenue percentages up annual total
for financial With that, Dave let further me results. operational over hand color on our and the call to
