ALPHARETTA, Ga. - Agilysys , Inc. (NASDAQ:AGYS), a prominent provider of hospitality software solutions with a market capitalization of $3.66 billion and impressive year-to-date returns of 53%, announced Monday the expansion of its Board of Directors and the appointment of Lisa Pope as a new board member. Pope, who currently presides over Epicor, a global cloud enterprise software company, brings extensive experience in scaling Software-As-A-Service (SaaS) businesses.
The appointment, effective December 5, 2024, increases Agilysys's board size to eight members. Pope is slated for nomination at the company's 2025 annual stockholders meeting. Her background includes transitioning Epicor to a cloud-first, subscription-based model and leading growth strategies for other tech firms like Infor and QAD (NASDAQ:QADA). According to InvestingPro data, Agilysys has maintained strong revenue growth of 17% and a healthy gross profit margin of 63%.
Michael Kaufman, Chairman of the Board at Agilysys, commended Pope's SAAS expertise and her potential contribution to enhancing shareholder value. Agilysys CEO Ramesh Srinivasan also praised her track record in driving customer success and retention, which aligns with the company's focus on scaling its cloud-native hospitality enterprise platforms.
Pope expressed enthusiasm for the opportunity at Agilysys, citing parallels between her previous roles and the company's growth and customer engagement strategies. Her accolades include the "Woman of the Year" Stevie Award for Sales and Customer Service in 2022 and the Silver Best in Biz Award for Sales Executive of the Year in 2021.
Agilysys specializes in delivering software solutions that optimize Return on Experience (ROE) in the hospitality sector. Its customer base spans various industries, including hotels, resorts, casinos, and dining facilities worldwide.
This board expansion and appointment are based on a press release statement from Agilysys, Inc.
In other recent news, Agilysys, a next-generation hospitality software solutions provider, reported a record revenue of $68.3 million for the second quarter of fiscal year 2025, marking a 16.5% increase from the previous year. The company's strategic acquisition of Book4Time played a significant role in this growth, enhancing its spa management software offerings. Subscription revenue also saw a substantial rise of 36.6%, reaching $25.1 million, reflecting Agilysys's successful expansion and modernization efforts.
In addition, a recent Oppenheimer survey indicates steady enterprise IT demand despite macro uncertainties. The survey, based on 301 buyer interviews, suggests an improving demand environment for enterprise suppliers in the fourth quarter and a similar growth outlook for IT budgets in 2025.
Furthermore, Agilysys raised its full-year revenue guidance to between $280 million and $285 million. Despite facing challenges in the U.S. food service management and Asia-Pacific markets, Agilysys remains optimistic about the recovery of its Point of Sale business and sees substantial potential for market expansion. The company also expressed interest in making more strategic acquisitions in the future.
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