Exhibit 99.1


American Software Reports Preliminary Second Quarter of Fiscal Year 2020 Results

Subscription Fees Increase 64% for the Quarter and Cloud Services Annual Contract Value Increases 55%

ATLANTA--(BUSINESS WIRE)--November 21, 2019--American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the second quarter for fiscal year 2020.

Key Second quarter financial highlights:

  • Subscription fees were $5.5 million for the quarter ended October 31, 2019, a 64% increase compared to $3.3 million for the same period last year, while Software license revenues were $1.0 million, a 48% decrease compared to $2.0 million for the same period last year, reflecting our continued transition to the SaaS engagement model.
  • Cloud Services Annual Contract Value (ACV) increased approximately 55% to $22.4 million as of the quarter ended October 31, 2019 compared to $14.5 million as of the same period of the prior year.
  • Total revenues for the quarter ended October 31, 2019 were $28.2 million, an increase of 1% over the comparable period last year.
  • Recurring revenue streams for Maintenance and Cloud Services were 58% of total revenues in the quarter ended October 31, 2019 compared to 53% in the same period of the prior year.
  • Maintenance revenues for the quarter ended October 31, 2019 decreased 7% to $10.8 million compared to $11.6 million for the same period last year.
  • Professional services and other revenues for the quarter ended October 31, 2019 decreased 2% to $10.8 million compared to $11.1 million for the same period last year.
  • Operating earnings for the quarter ended October 31, 2019 decreased 45% to $0.8 million compared to $1.5 million for the same period last year.
  • GAAP net earnings for the quarter ended October 31, 2019 increased 42% to $1.8 million or $0.05 per fully diluted share compared to $1.2 million or $0.04 per fully diluted share for the same period last year.
  • Adjusted net earnings for the quarter ended October 31, 2019, which excludes non-cash stock-based compensation expense and amortization of acquisition-related intangibles, were $2.5 million or $0.08 per fully diluted share compared to $2.2 million or $0.07 per fully diluted share for the same period last year.
  • EBITDA decreased by 12% to $3.0 million for the quarter ended October 31, 2019 compared to $3.4 million for the same period last year.
  • Adjusted EBITDA decreased by 9% to $3.5 million for the quarter ended October 31, 2019 compared to $3.9 million for the quarter ended October 31, 2018. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest (expense)/income & other, net, income tax (benefit)/expense and non-cash stock-based compensation expense.

The following information was filed by American Software Inc (AMSWA) on Thursday, November 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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