American Software Reports Third Quarter of Fiscal Year 2021 Results

Subscription Fees Increased 29%, Cloud Services Annual Contract Value Increased 24% for the Quarter

ATLANTA--(BUSINESS WIRE)--February 24, 2021--American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the third quarter of fiscal year 2021.

Key Third Quarter Financial Highlights:

Subscription fees were $7.5 million for the quarter ended January 31, 2021, a 29% increase compared to $5.8 million for the same period last year, while Software license revenues were $0.5 million, an 86% decrease compared to $3.7 million for the same period last year, reflecting our continued transition to the Software as a Service (SaaS) engagement model.
Cloud Services Annual Contract Value (ACV) increased approximately 24% to $31.6 million as of the quarter ended January 31, 2021 compared to $25.5 million as of the same period of the prior year.
Total revenues for the quarter ended January 31, 2021 decreased 10% to $27.7 million, compared to $30.6 million for the same period of the prior year.
Recurring revenue streams for Maintenance and Cloud Services were 64% of total revenues in the quarter ended January 31, 2021 compared to 54% in the same period of the prior year.
Maintenance revenues for the quarter ended January 31, 2021 decreased 6% to $10.2 million compared to $10.8 million for the same period last year.
Professional services and other revenues for the quarter ended January 31, 2021 decreased 8% to $9.5 million compared to $10.3 million for the same period last year.
Operating earnings for the quarter ended January 31, 2021 decreased 67% to $0.9 million compared to $2.8 million for the same period last year.
GAAP net earnings for the quarter ended January 31, 2021 decreased 30% to $2.3 million or $0.07 per fully diluted share compared to $3.3 million or $0.10 per fully diluted share for the same period last year.
Adjusted net earnings for the quarter ended January 31, 2021, which excludes non-cash stock-based compensation expense and amortization of acquisition-related intangibles, decreased 26% to $3.0 million or $0.09 per fully diluted share compared to $4.0 million or $0.12 per fully diluted share for the same period last year.
EBITDA decreased by 54% to $2.2 million for the quarter ended January 31, 2021 compared to $4.7 million for the same period last year.
Adjusted EBITDA decreased by 45% to $2.9 million for the quarter ended January 31, 2021 compared to $5.3 million for the same period last year. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest (expense)/income & other, net, income tax expense and non-cash stock-based compensation expense.

Key Fiscal 2021 Year to Date Financial Highlights:

Subscription fees were $20.8 million for the nine months ended January 31, 2021, a 32% increase compared to $15.8 million for the same period last year, while Software license revenues were $1.8 million, a 73% decrease compared to $6.5 million for the same period last year, reflecting our continued transition to the SaaS engagement model.
Total revenues for the nine months ended January 31, 2021 decreased 4% to $82.8 million compared to $86.2 million for the same period last year.
Recurring revenue streams for Maintenance and Cloud Services were 62% of total revenues for the nine-month period ended January 31, 2021 compared to 56% in the same period of the prior year.
Maintenance revenues for the nine months ended January 31, 2021 were $30.7 million, a 6% decrease compared to $32.7 million for the same period last year.
Professional services and other revenues for the nine months ended January 31, 2021 decreased 6% to $29.6 million compared to $31.3 million for the same period last year.
For the nine months ended January 31, 2021, the Company reported operating earnings of approximately $2.5 million compared to $4.5 million for the same period last year, a 45% decrease.
GAAP net earnings were approximately $5.0 million or $0.15 per fully diluted share for the nine months ended January 31, 2021, a 19% decrease compared to $6.2 million or $0.19 per fully diluted share for the same period last year.
Adjusted net earnings for the nine months ended January 31, 2021, which excludes stock-based compensation expense and amortization of acquisition-related intangibles, decreased 16% to $7.3 million or $0.22 per fully diluted share, compared to $8.6 million or $0.27 per fully diluted share for the same period last year.
EBITDA decreased by 36% to $6.9 million for the nine months ended January 31, 2021 compared to $10.8 million for the same period last year.
Adjusted EBITDA decreased 28% to $8.8 million for the nine months ended January 31, 2021 compared to $12.3 million for the nine months ended January 31, 2020. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, income tax expense and non-cash stock-based compensation.

The overall financial condition of the Company remains strong, with cash and investments of approximately $100.8 million and no debt as of January 31, 2021. During the third quarter of fiscal year 2021, the Company paid shareholder dividends of approximately $3.6 million.

“Third quarter fiscal year 2021 saw continued adoption of our cloud services offerings with a 29% growth in Subscription Fees and a 24% increase in Annual Contract Value, reflecting the increasing momentum across the industry towards cloud-based supply chain transformation solutions,” said Allan Dow, CEO and president of American Software. “The impact of unforeseen risks over the last 12 months such as COVID-19 has driven increased interest in supply chain transformation initiatives, helping develop a strong pipeline for our innovative digital supply chain platform for the fourth quarter 2021 and beyond.”

“This past quarter also brought renewed attention to the responsibility of supply chains to help ensure the ethical treatment of workers around the world following actions taken by the United States Customs and Border Protection to seize imports suspected of containing materials produced with forced labor,” continued Dow. “The release of our digital supply chain traceability solution highlights our commitment to help companies ensure transparency across their supply chains and exceed their corporate social responsibility goals.”

Additional highlights for the third quarter of fiscal year 2021 include:

Customers & Channels

Notable new and existing customers placing orders with the Company in the third quarter include: Ansell Limited, Bruni Glass S.p.A., C&A Mexico, Cariuma Central Pte. Ltd., Color Image Apparel, Inc., Diversey, Inc., Dixon Valve & Coupling Company, LLC, Dyehard Fan Supply, LLC, Husqvarna AB, John Paul Richard, Rhone Apparel, Spanx, Stony Apparel Corp, The Echo Design Group, Topson Downs of California, Inc., Huhtamaki, Inc., Savant Technologies LLC, Sopal SA, Kyjen Company LLC, McIlhenny Company, and Tencate Geosynthetics.

During the quarter, SaaS subscription and/or software license agreements were signed with customers located in the following 11 countries: Australia, France, Ireland, Italy, Mexico, New Zealand, Singapore, Sweden, Tunisia, United Kingdom, and United States.

Logility, Inc., a wholly owned subsidiary of the Company, invited attendees of the 2020 NextGen Supply Chain Conference to attend the session “Pushing the Efficient Inventory Frontier at The Kraft Heinz Company,” led by David Villalpando, senior analyst, logistics analytics at The Kraft Heinz Company.

Company and Technology

Logility and New Generation Computing, Inc. (NGC), a wholly owned subsidiary of the Company, announced the availability of a digital traceability solution which allows brand owners and retailers to document the chain of custody from component origin to importer of record. During the quarter, United States Customs and Border Protection announced a region-wide withhold release order on cotton products and tomato products produced in China’s Xinjiang Uyghur Autonomous Region. This new solution ensures that companies can prove their imports are free from suspect materials.
Logility announced the company won IDC’s SaaS CSAT Award for Supply Chain Management Customer Satisfaction. Logility scored significantly higher than its peers’ average in areas such as low total cost of ownership (TCO), user experience, high availability, industry specialization, out-of-the-box availability, and availability of training. The announcement highlights relentless passion to deliver the highest level of customer service and to ensure its customers around the world can rely on the supply chain innovations the company brings to the market.
Logility invited attendees to the webcast, “Thriving Through a Period of Disruption.” The discussion included industry experts David Maloney, editorial director, Supply Chain Quarterly, and Mac McGary, executive vice president, Logility. The live webcast explored how resilient planning helps protect organizations through disruptions and optimizes supply chains for a stronger outlook.
NGC president Mark Burstein was accepted as a member of the Forbes Technology Council, an invitation-only community of leading technology executives. As a member of the Forbes Technology Council, Burstein shares his expertise on the intersection of supply chain technology in regular contributions to Forbes.
NGC was named a leading retail software company in the RIS Software LeaderBoard for 2021. NGC was named among the top 20 vendors in 17 categories, including top three rankings in nine categories such as Overall Performance, Customer Satisfaction for Apparel Vendors, Return on Investment and Total Cost of Operation.
Demand Management, Inc., a wholly owned subsidiary of Logility, was named one of Food Logistics’ FL100+ Top Software and Technology Providers for 2020. This marked the company’s twelfth time receiving the award.
Logility announced and invited attendees to the webcast, “Roadmap to Overcoming Five Obstacles to Achieving Multi-Echelon Inventory Optimization.” The discussion featured industry experts Martijn Lofvers, founder and chief trendwatcher, Supply Chain Media; Jonathan Jackman, vice president, EMEA, Logility; and Gokhan Usanmaz, product owner, innovation, Logility. This live event explored how Multi-Echelon Inventory Optimization (MEIO) can help improve customer service levels while removing excess and obsolete inventory.

About American Software, Inc.

Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through its operating entities delivers an innovative technical platform with AI-powered capabilities for supply chain management and advanced retail planning that is accelerating digital supply chain optimization from product concept to customer availability. Logility, Inc., is helping large enterprise companies transform their supply chain operations to gain a competitive advantage. Recognized for its high-touch approach to customer service, rapid implementations and industry-leading return on investment (ROI), Logility customers include Big Lots, Husqvarna Group, Parker Hannifin, Sonoco Products and Red Wing Shoe Company. Demand Management, Inc. delivers affordable, easy-to-use supply chain planning solutions designed to increase forecast accuracy, improve customer service and reduce inventory to maximize profits and lower costs. Demand Management serves customers such as Siemens Healthcare, AutomationDirect.com and Newfoundland Labrador Liquor Corporation. New Generation Computing, Inc. powers the digital supply chain to enable apparel brand owners and retailers to maximize revenue and profit by accelerating lead times, streamlining product development, and optimizing sourcing and distribution. NGC customers include Brooks Brothers, Carter’s, Destination XL, Fanatics, Foot Locker, Jockey International, Lacoste and Spanx. The comprehensive American Software supply chain and retail planning portfolio delivered in the cloud includes advanced analytics, supply chain visibility, demand, inventory and replenishment planning, Sales and Operations Planning (S&OP), Integrated Business Planning (IBP), supply and inventory optimization, manufacturing planning and scheduling, retail merchandise and assortment planning and allocation, product lifecycle management (PLM), sourcing management, vendor quality and compliance, and product traceability. For more information about American Software, please visit www.amsoftware.com, call (404) 364-7615 or email kliu@amsoftware.com.

Operating and Non-GAAP Financial Measures

The Company includes operating measures (ACV) and other non-GAAP financial measures (EBITDA, adjusted EBITDA, adjusted net earnings and adjusted net earnings per share) in the summary financial information provided with this press release as supplemental information relating to its operating results. This financial information is not in accordance with, or an alternative for, GAAP-compliant financial information and may be different from the operating or non-GAAP financial information used by other companies. The Company believes that this presentation of ACV, EBITDA, adjusted EBITDA, adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations. ACV is a forward-looking operating measure used by management to better understand cloud services (SaaS and other related cloud services) revenue trends within the Company’s business, as it reflects the Company’s current estimate of revenue to be generated under existing customer contracts in the forward 12-month period. EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, and income tax expense. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, income tax expense and non-cash stock-based compensation expense.

Forward Looking Statements

This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results or performance to differ materially from what is anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty and the timing and degree of business recovery; the irregular pattern of the Company’s revenues; dependence on particular market segments or customers; competitive pressures; market acceptance of the Company’s products and services; technological complexity; undetected software errors; potential product liability or warranty claims; risks associated with new product development; the challenges and risks associated with integration of acquired product lines, companies and services; uncertainty about the viability and effectiveness of strategic alliances; the Company’s ability to satisfy in a timely manner all Securities and Exchange Commission (SEC) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company could experience as well as other information, please refer to the Company’s current Form 10-K and other reports and documents subsequently filed with the SEC. For more information, contact: Kevin Liu, American Software, Inc., (626) 657-0013 or email kliu@amsoftware.com.

AMERICAN SOFTWARE, INC.
Consolidated Statements of Operations Information
(In thousands, except per share data, unaudited)

			Third Quarter Ended								Nine Months Ended
			January 31,								January 31,
				2021			2020		Pct Chg.			2021			2020		Pct Chg.
Revenues:
	Subscription fees		$	7,486		$	5,802		29	%	$	20,815		$	15,752		32	%
	License fees			530			3,695		(86	%)		1,767			6,519		(73	%)
	Professional services & other			9,495			10,308		(8	%)		29,551			31,271		(6	%)
	Maintenance			10,172			10,795		(6	%)		30,709			32,651		(6	%)
		Total Revenues		27,683			30,600		(10	%)		82,842			86,193		(4	%)

Cost of Revenues:
	Subscription services			3,062			1,976		55	%		8,767			6,711		31	%
	License fees			288			1,582		(82	%)		1,516			3,969		(62	%)
	Professional services & other			7,178			7,764		(8	%)		22,632			22,712		0	%
	Maintenance			1,894			1,836		3	%		5,608			5,551		1	%
		Total Cost of Revenues		12,422			13,158		(6	%)		38,523			38,943		(1	%)
Gross Margin				15,261			17,442		(13	%)		44,319			47,250		(6	%)
Operating expenses:
	Research and development			4,475			4,659		(4	%)		13,278			14,087		(6	%)
	Less: capitalized development			(233	)		(806	)	(71	%)		(604	)		(2,697	)	(78	%)
	Sales and marketing			5,029			5,519		(9	%)		15,202			16,246		(6	%)
	General and administrative			5,002			5,194		(4	%)		13,833			14,890		(7	%)
	Provision for doubtful accounts			-			-		-			-			33		-
	Amortization of acquisition-related intangibles			53			57		(7	%)		159			232		(31	%)

		Total Operating Expenses		14,326			14,623		(2	%)		41,868			42,791		(2	%)
Operating Earnings				935			2,819		(67	%)		2,451			4,459		(45	%)
Interest Income & Other, Net				1,432			978		46	%		2,722			2,215		23	%
Earnings Before Income Taxes				2,367			3,797		(38	%)		5,173			6,674		(22	%)
Income Tax Expense				56			511		(89	%)		136			477		(71	%)
Net Earnings			$	2,311		$	3,286		(30	%)	$	5,037		$	6,197		(19	%)
Earnings per common share: (1)
	Basic		$	0.07		$	0.10		(30	%)	$	0.16		$	0.20		(20	%)
	Diluted		$	0.07		$	0.10		(30	%)	$	0.15		$	0.19		(21	%)

Weighted average number of common shares outstanding:
		Basic		32,628			31,955					32,485			31,611
		Diluted		33,293			32,668					33,107			32,260

nm- not meaningful

AMERICAN SOFTWARE, INC.
NON-GAAP MEASURES OF PERFORMANCE
(In thousands, except per share data, unaudited)

		Third Quarter Ended								Nine Months Ended
		January 31,								January 31,
			2021			2020		Pct Chg.			2021			2020		Pct Chg.
NON-GAAP Operating Earnings:
Operating Income (GAAP Basis)		$	935		$	2,819		(67	%)	$	2,451		$	4,459		(45	%)
	Amortization of acquisition-related intangibles		96			315		(70	%)		718			1,289		(44	%)
	Stock-based compensation		703			564		25	%		1,901			1,510		26	%
NON-GAAP Operating Earnings:			1,734			3,698		(53	%)		5,070			7,258		(30	%)

Non-GAAP Operating Earnings, as a % of revenue			6	%		12	%				6	%		8	%


		Third Quarter Ended								Nine Months Ended
		January 31,								January 31,
			2021			2020		Pct Chg.			2021			2020		Pct Chg.
NON-GAAP EBITDA:
Net Earnings (GAAP Basis)		$	2,311		$	3,286		(30	%)	$	5,037		$	6,197		(19	%)
	Income Tax Expense		56			511		(89	%)		136			477		(71	%)
	Interest Income & Other, Net		(1,432	)		(978	)	46	%		(2,722	)		(2,215	)	23	%
	Amortization of intangibles		1,093			1,723		(37	%)		3,976			5,834		(32	%)
	Depreciation		154			159		(3	%)		465			476		(2	%)
EBITDA (earnings before interest, taxes, depreciation and amortization)			2,182			4,701		(54	%)		6,892			10,769		(36	%)

	Stock-based compensation		703			564		25	%		1,901			1,510		26	%
Adjusted EBITDA		$	2,885		$	5,265		(45	%)	$	8,793		$	12,279		(28	%)

EBITDA, as a percentage of revenues			8	%		15	%				8	%		12	%

Adjusted EBITDA, as a percentage of revenues			10	%		17	%				11	%		14	%

		Third Quarter Ended								Nine Months Ended
		January 31,								January 31,
			2021			2020		Pct Chg.			2021			2020		Pct Chg.
NON-GAAP EARNINGS PER SHARE:
Net Earnings (GAAP Basis)		$	2,311		$	3,286		(30	%)	$	5,037		$	6,197		(19	%)
	Amortization of acquisition-related intangibles (2)		80			273		(71	%)		617			1,119		(45	%)
	Stock-based compensation (2)		589			488		21	%		1,631			1,309		25	%
Adjusted Net Earnings		$	2,980		$	4,047		(26	%)	$	7,285		$	8,625		(16	%)

Adjusted non-GAAP diluted earnings per share		$	0.09		$	0.12		(25	%)	$	0.22		$	0.27		(19	%)

		Third Quarter Ended								Nine Months Ended
		January 31,								January 31,
			2021			2020		Pct Chg.			2021			2020		Pct Chg.
NON-GAAP Earnings Per Share
Net Earnings (GAAP Basis)		$	0.07		$	0.10		(30	%)	$	0.15		$	0.19		(21	%)
	Amortization of acquisition-related intangibles (2)		-			0.01		nm			0.02			0.04		(50	%)
	Stock-based compensation (2)		0.02			0.01		100	%		0.05			0.04		25	%
Adjusted Net Earnings			0.09		$	0.12		(25	%)		0.22		$	0.27		(19	%)


		Third Quarter Ended								Nine Months Ended
		January 31,								January 31,
			2021			2020		Pct Chg.			2021			2020		Pct Chg.
Amortization of acquisition-related intangibles
	Cost of license	$	43		$	258		(83	%)	$	559		$	1,057		(47	%)
	Operating expenses		53			57		(7	%)		159			232		(31	%)
Total amortization of acquisition-related intangibles		$	96		$	315		(70	%)	$	718		$	1,289		(44	%)

Stock-based compensation
	Cost of revenues	$	37		$	43		(14	%)	$	103		$	94		10	%
	Research and development		56			44		27	%		130			117		11	%
	Sales and marketing		104			102		2	%		257			260		(1	%)
	General and administrative		506			375		35	%		1,411			1,039		36	%
Total stock-based compensation		$	703		$	564		25	%	$	1,901		$	1,510		26	%


(1) - Basic per share amounts are the same for Class A and Class B shares. Diluted per share amounts for Class A shares are shown above. Diluted per share for Class B shares under the two-class method are $0.07 and $0.16 for the three and nine months ended January 31, 2021, respectively. Diluted per share for Class B shares under the two-class method are $0.10 and $0.20 for the three and nine months ended January 31, 2020, respectively.
(2) - Tax affected using the effective tax rate excluding a discrete item related to excess tax benefit for stock options for the three and nine month periods ended January 31, 2021 of 16.2% and 14.2% and 13.5% and 13.3% for the three and nine month periods ended January 31, 2020, respectively.
nm- not meaningful


AMERICAN SOFTWARE, INC.
Consolidated Balance Sheet Information
(In thousands)
(Unaudited)
			January 31,		April 30,
				2021		2020

Cash and Cash Equivalents			$	86,721	$	79,814
Short-term Investments				14,052		14,161
Accounts Receivable:
	Billed			17,804		22,582
	Unbilled			1,954		2,425
Total Accounts Receivable, net				19,758		25,007
Prepaids & Other				6,161		6,684
Current Assets				126,692		125,666

Investments - Non-current				-		701

PP&E, net				3,368		3,373
Capitalized Software, net				5,708		8,362
Goodwill				25,888		25,888
Other Intangibles, net				413		1,132
Deferred Sales Commissions - Non-current				1,842		2,177
Lease Right of Use Assets				1,635		2,053
Other Non-current Assets				1,878		1,941
Total Assets			$	167,424	$	171,293

Accounts Payable			$	1,696	$	1,643
Accrued Compensation and Related costs				4,337		6,635
Dividend Payable				3,597		3,547
Operating Lease Obligation - Current				774		763
Other Current Liabilities				987		643
Deferred Revenues - Current				32,023		34,227
Current Liabilities				43,414		47,458

Operating Lease Obligation - Non-current				975		1,424
Deferred Tax Liability - Non-current				2,572		2,897
Other Long-term Liabilities				113		92
Long-term Liabilities				3,660		4,413

		Total Liabilities		47,074		51,871

Shareholders' Equity				120,350		119,422

Total Liabilities & Shareholders' Equity			$	167,424	$	171,293


AMERICAN SOFTWARE, INC.
Condensed Consolidated Cashflow Information
(In thousands)
(Unaudited)

	Nine Months Ended
	January 31,
		2021			2020

Net cash provided by operating activities	$	13,933		$	13,112

Capitalized computer software development costs		(604	)		(2,697	)
Purchases of property and equipment, net of disposals		(461	)		(339	)

Net cash used in investing activities		(1,065	)		(3,036	)

Dividends paid		(10,696	)		(10,392	)
Proceeds from exercise of stock options		4,735			7,837

Net cash used in financing activities		(5,961	)		(2,555	)

Net change in cash and cash equivalents		6,907			7,521
Cash and cash equivalents at beginning of period		79,814			61,288

Cash and cash equivalents at end of period	$	86,721		$	68,809

Contacts

Financial Information Press Contact:
Vincent C. Klinges
Chief Financial Officer
American Software, Inc.
(404) 264-5477

Document and Entity Information	Feb. 24, 2021
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 24, 2021
Entity Registrant Name	AMERICAN SOFTWARE, INC.
Entity Incorporation, State or Country Code	GA
Entity File Number	000-12456
Entity Tax Identification Number	58-1098795
Entity Address, Address Line One	470 East Paces Ferry Road, NE
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30305
City Area Code	404
Local Phone Number	261-4381
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000713425
Title of 12(b) Security	Common Stock
Trading Symbol	AMSWA
Security Exchange Name	NASDAQ

Document and Entity Information

Feb. 24, 2021

Cover [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Feb. 24, 2021

Entity Registrant Name

AMERICAN SOFTWARE, INC.

Entity Incorporation, State or Country Code

Entity File Number

000-12456

Entity Tax Identification Number

58-1098795

Entity Address, Address Line One

470 East Paces Ferry Road, NE

Entity Address, City or Town

Atlanta

Entity Address, State or Province

Entity Address, Postal Zip Code

30305

City Area Code

404

Local Phone Number

261-4381

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Entity Central Index Key

0000713425

Title of 12(b) Security

Common Stock

Trading Symbol

AMSWA

Security Exchange Name

NASDAQ

Georgia	58-1098795
(State or Other Jurisdiction	(I.R.S. Employer
of Incorporation)	Identification No.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐	Emerging Growth Company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financing accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Exhibit
Number	Description

99.1	Press Release of American Software, Inc., February 24, 2021.

Date: February 24, 2021	AMERICAN SOFTWARE, INC.

	(Registrant)


	By: /s/ Vincent C. Klinges
	Name: Vincent C. Klinges
	Title: Chief Financial Officer

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock	AMSWA	NASDAQ Global Select Market