Agilysys Inc. (NASDAQ:AGYS) Q4 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 04:30 pm ET


Agilysys Inc. (NASDAQ:AGYS) Q4 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good day, ladies and gentlemen, and welcome to the Agilysys Fiscal 2020 Fourth Quarter Conference Call. As a reminder, today's conference is being recorded. I would now like to turn the conference call over to Dave Wood, Vice President of Corporate Strategy and Investor Relations at Agilysys. Please go ahead.

Dave Wood

Thank you, Jonathan, and good afternoon, everybody. Thank you for joining the Agilysys Fiscal 2020 Fourth Quarter Conference Call. We will get started in just a minute with management's comments. But before doing so, let me read the Safe Harbor language.

Some statements made on today's call will be predictive and are intended to be made as forward-looking within the Safe Harbor protections of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial guidance. Although the Company believes that its forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause results to differ materially. Important factors that could cause actual results to differ materially from these and the forward-looking statements include the effect of the COVID-19 pandemic on our business and the success of any measures we have taken or may take in the future in response to the COVID-19 pandemic, and the risks set forth in the Company's reports on Form 10-K and 10-Q and other reports filed with the Securities and Exchange Commission.

With that, I'd now like to turn the call over to Mr. Ramesh Srinivasan, President and Chief Executive Officer of Ramesh -- of Agilysys. Ramesh, please go ahead.

Ramesh Srinivasan

Thank you, Dave, and good afternoon, everyone. Welcome to our fiscal 2020 fourth quarter earnings call. Joining Dave and me on the call today is Tony Pritchett, our CFO. I'm participating in this call from my home base in Las Vegas, while Tony and Dave are in Atlanta.

We hope all of you and your families and colleagues are doing well and staying healthy during these incredibly challenging times. Like many other organizations across multiple industries have reported, our fiscal 2020 fourth quarter, the period January through March, was very much a tale of two quarters within one. We started the quarter on a high note, carrying on the momentum of seven consecutive record revenue quarters before it. It then got even better with our Inspire user conference during February held at Rosen Hotels & Resorts in Orlando. The conference was highlighted by the highest customer attendance we have seen at a location other than Las Vegas. I Attendance of customer users from the hotel and resorts vertical was up 45% year-over-year. The overall number of customer users attending additional training classes and setting up meetings with our technical staff for further product discussions, two crucial user conference customer engagement metrics for us, was up 40% year-over-year. Our increased product innovation velocity during the last couple of years was on full display.

Little did we know then that many additional modules like mobile check-in check-out, rGuest Service and on-demand, which were discussed in packed conference rooms