AGYSNasdaqServices-Computer Integrated Systems DesignUS GAAP · USD

Agilysys, Inc

Agilysys, Inc. builds software used by hospitality operators to run property operations and guest-facing experiences across lodging, gaming, and food & beverage venues. Its portfolio spans cloud-native SaaS and on-premise deployments, combining property management, point-of-sale, inventory/procurement, payments, and service workflow tools that connect front-of-house and back-of-house teams. The company sells software subscriptions/maintenance, software licenses and related hardware, and professional services for implementation and integration. Agilysys operates globally with headquarters in Alpharetta, Georgia and reports a single operating segment focused on the hospitality industry.

Revenue319m USD
+15.9 %y/y
Operating profit (EBIT)43.0m USD
+90.4 %y/y
EBIT margin13.5%
+5.3 ppy/y
Net income38.8m USD
+67.0 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-1000100200300400m USD2021: 137 m USD2021: EBIT -21 m USD20212022: 163 m USD2022: EBIT 6.3 m USD20222023: 198 m USD2023: EBIT 13 m USD20232024: 237 m USD2024: EBIT 16 m USD20242025: 276 m USD2025: EBIT 23 m USD20252026: 319 m USD2026: EBIT 43 m USD202631943
RevenueOperating profit (EBIT)

Business

Share of revenue
Property Management Systems (PMS)35 %

Stay PMS and Versa PMS for hotel/resort operations, multi-property management, and integrations.

Point-of-Sale (POS) & Food and Beverage Applications25 %

POS and related applications supporting venue operations across restaurants, resorts, casinos, and stadiums.

Inventory, Procurement & Back-office15 %

Eatec and Stratton Warren (SWS/SWS Direct) for purchasing, inventory, recipes, and e-procurement workflows.

Guest Experience, Service Ops, Sales & Catering15 %

Sales & Catering and Service tools that coordinate events, staff workflows, and guest communications.

Payments & Transaction Services5 %

Authorize and related payment/transaction capabilities for deposits, guarantees, and folio charges.

Professional Services5 %

Implementation, integration, development, installation, and related project services.

Products

Reported · share of revenue
64.5%22.6%12.9%FY2026100 %
  • Subscription and Maintenance64.5 %
  • Professional Services22.6 %
  • Products12.9 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Agilysys sells primarily to hospitality and leisure operators that need integrated systems spanning rooms, food & beverage, events, and back-office procurement. Core buyers include branded and independent hotels and multi-amenity resorts, as well as casino properties and cruise lines where uptime and integration with third-party systems (e.g., distribution and casino management) are critical. The company also serves institutional and venue-based foodservice environments such as universities, corporate dining providers, hospitals, stadiums, and theme parks that require high-throughput POS and inventory control. Customers buy to improve guest loyalty and revenue opportunities (e.g., better guest profiles and event selling) and to reduce labor and operational friction via connected workflows and automation. The relationship typically includes ongoing subscription/maintenance and support, plus professional services for deployment and integration.

Hotels, resorts and property management companies

Buy PMS (Stay/Versa) plus Sales & Catering, Service, and payments to run property operations and monetize guest data across stays and events.

Casinos and gaming-adjacent hospitality

Adopt PMS/POS and integrations (e.g., casino management systems) to coordinate rooms, F&B, and guest service with high reliability requirements.

Foodservice operators (corporate, education, healthcare)

Use POS and inventory/procurement (Eatec, SWS) to control food costs, manage recipes/forecasting, and streamline purchasing and production.

Cruise lines and destination/venue operators

Deploy POS/PMS-adjacent guest journey tools and service workflows to improve guest experience and operational efficiency in complex venues.

Strategy

Agilysys’ strategy emphasizes customer-centric execution paired with continued product innovation across its core platforms, particularly point-of-sale and property management. The company aims to grow wallet share by expanding the breadth and depth of its product set around the guest journey, using integrations between PMS, POS, inventory/procurement, service optimization, and payments. Management also highlights international expansion as a growth lever, implying investment in go-to-market coverage and product readiness for non-U.S. markets. Internally, the plan includes improving organizational efficiency and teamwork and developing employees and leaders to support scaling implementation and support capacity. Liquidity and profitability discipline are also called out, with a focus on managing operating expenses and prioritizing investments with higher returns.

Expand breadth and depth of PMS and POS product setMedium term

Deeper suites increase wallet share and reduce churn through integration value.

International expansionMedium term

Adds new customer opportunities and supports global hospitality operators.

Operational efficiency and talent developmentShort term

Implementation/support capacity and product development depend on retaining and hiring skilled staff.

Geography

Agilysys operates across North America, Europe, the Middle East, Asia-Pacific, and India, with corporate headquarters in Alpharetta, Georgia. The company’s customer base is global and includes hospitality operators with multi-property footprints, which increases the importance of product localization, implementation capacity, and support coverage across time zones. International operations also create exposure to currency movements, regional travel cycles, and local regulatory requirements (including data security and payments). While the filings describe broad regional presence, the provided excerpts do not disclose an authoritative revenue split by geography.

Risks

Demand for Agilysys’ software is tied to hospitality and travel activity; downturns, pandemics, geopolitical events, or higher energy costs can reduce customer IT spending and delay deployments. Customer financial stress is a specific risk: insolvencies or bankruptcies among hotels, resorts, or other operators can lead to bad debts and lost recurring revenue. As a software provider handling operational and payment-adjacent workflows, the company faces cybersecurity and data protection risks, including complex incident materiality assessments and disclosure obligations. Product execution risk is also material—future performance depends on delivering new solutions and upgrades that achieve market acceptance, while competition for software engineering talent can constrain delivery. International operations add exposure to tariffs, trade policy shifts, and currency volatility that can affect demand and profitability.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Cybersecurity incidents and related disclosure/regulatory obligations1Macroeconomic and global conditions reduce hospitality IT spending2Hospitality customer insolvencies and bankruptcies3Product development and market acceptance risk4Dependence on skilled employees and competitive labor markets5Open-source software licensing and compliance risk6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Cybersecurity incidents and related disclosure/regulatory obligationsImpact: CriticalLikelihood: Medium

    Incidents are difficult to assess quickly; errors in materiality/disclosure analyses can lead to compliance issues, fines, litigation, and reputational damage.

    Exposure: Company systems plus customer/vendor ecosystem

  2. Macroeconomic and global conditions reduce hospitality IT spendingImpact: HighLikelihood: Medium

    Weak economies, conflicts, disease outbreaks, tariffs, and travel disruptions can cause customers to delay, decrease, or cancel purchases and slow collections.

    Exposure: Global hospitality and leisure demand sensitivity

  3. Hospitality customer insolvencies and bankruptciesImpact: HighLikelihood: Medium

    Customers in bankruptcy may not pay unpaid fees or reimbursements, pressuring revenue and liquidity.

    Exposure: Credit risk concentrated in hospitality operators

  4. Product development and market acceptance riskImpact: MediumLikelihood: Medium

    Growth depends on delivering new solutions, upgrades, and services that customers adopt; delays or misalignment can reduce competitiveness.

  5. Dependence on skilled employees and competitive labor marketsImpact: MediumLikelihood: Medium

    Retention and hiring challenges for software developers can slow innovation and implementations.

  6. Open-source software licensing and compliance riskImpact: MediumLikelihood: Low

    Ambiguous license terms and lack of warranties can create IP/compliance exposure if not properly managed.

Accounting

Judgemental items
Revenue classification and timing across products, subscription/maintenance, and services

Different revenue streams have different delivery patterns and margin profiles, affecting comparability and quality of revenue.

Impact: Mix shifts can change reported growth and profitability even if bookings are stable.

Allowance for doubtful accounts (bad debts)

Hospitality customer insolvencies can increase uncollectible receivables and require judgmental provisioning.

Impact: Directly impacts operating income through higher bad debt expense.

Inventory accounting for third-party hardware resale

Hardware/OS components introduce inventory valuation and obsolescence considerations not present in pure SaaS models.

Impact: Can affect gross margin and working capital.

Valuation of corporate-owned life insurance and split-dollar liabilities

Policies are recorded at cash surrender value with related liabilities for benefits owed to beneficiaries, requiring fair value-related estimates.

Impact: Affects other assets/liabilities and can influence non-operating line items.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026