Agilysys

The balance sheet is very strong. As of June 30, 2026 the company reported 123.7 million dollars in cash and cash equivalents, no outstanding debt and access to a 75 million dollar revolver (matures August 16, 2027).

Cash from operations in fiscal 2026 was 70.0 million dollars with free cash flow of 68.1 million dollars; Q1 fiscal 2027 free cash flow was 7.3 million dollars. Capital intensity is low with fiscal 2026 capex of about 1.8 million dollars.

We see ample capacity to fund R&D, selective M&A and working capital while remaining resilient through cycles.