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Logility Supply Chain Solutions Inc. (LGTY) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in total revenue to $25.3 million from $25.7 million in the same quarter the previous year. This change is attributed to a decrease in license fees and maintenance revenue, offset by an increase in subscription fees.
Subscription fees increased by 9% to $14.5 million, while license revenue decreased by 68% to $73,000. Professional services and other revenue decreased by 10% to $3.6 million, and maintenance revenue decreased by 13% to $7.1 million.
Cost of revenues for the quarter was $8.8 million, representing 35% of total revenue, compared to 36% in the same quarter of the previous year.
The company reported a gross margin of $16.5 million for the quarter, compared to $16.4 million in the previous year.
Research and development expenses were $4.3 million, consistent with the previous year. Sales and marketing expenses decreased to $5.1 million from $5.3 million.
General and administrative expenses increased to $5.9 million from $5.5 million, primarily due to higher personnel costs.
Operating income for the quarter was $1 million, down from $1.2 million in the previous year.
Other income increased to $1.2 million from a loss of $577,000, primarily due to gains on investments.
Net earnings from continuing operations were $1.7 million, up from $621,000 in the previous year. Earnings per share from continuing operations were $0.05, compared to $0.02 in the previous year.
Cash used in operating activities was $7.3 million, while cash used in investing and financing activities was $280,000 and $7.3 million, respectively.
Logility had cash and cash equivalents of $44.6 million as of October 31, 2024. The company continues to focus on expanding its supply chain management solutions and has completed the integration of its recent acquisition, Garvis AI Limited.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Logility Supply Chain Solutions Inc. quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.