8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 18, 2021

AMERICAN SOFTWARE, INC.

(Exact Name of Registrant as Specified in Charter)

Commission File Number 000-12456

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

470 East Paces Ferry Road, NE, Atlanta, Georgia 30305

(Address of principal executive offices)

(404) 261-4381

Registrant's telephone number, including area code

Not Applicable

(Former Name or former address, if changed since last report)

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))

Securities registered pursuant to Section 12(b) of the Act:

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

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.   ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On November 18, 2021, American Software, Inc. (the “Company”) issued a press release announcing its preliminary financial results for the second quarter ended October 31, 2021.  A copy of the press release is furnished as Exhibit 99.1 to this Current Report.

The information in this Current Report (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any previous or future filings by the Company under the Exchange Act or the Securities Act of 1933, as amended.

Operating and Non-GAAP Financial Measures in the Press Release

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 the attached 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/(expense) & other, net, and income tax (benefit)/expense. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income/(expense) & other, net, income tax (benefit)/expense and non-cash stock-based compensation expense.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.
Exhibit
Number	Description
99.1	Press Release of American Software, Inc., November 18, 2021.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 18, 2021	AMERICAN SOFTWARE, INC.
	(Registrant)
	By: /s/  Vincent C. Klinges
	Name:  Vincent C. Klinges
	Title: Chief Financial Officer

EX-99.1

Exhibit 99.1

American Software Reports Second Quarter of Fiscal Year 2022 Results

Return to Double-Digit Revenue Growth Driven by Continued Strong Growth in Subscription Fees

ATLANTA--(BUSINESS WIRE)--November 18, 2021--American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the second quarter of fiscal year 2022.

Key Second Quarter Financial Highlights:

• Subscription fees were $10.4 million for the quarter ended October 31, 2021, a 49% increase compared to $7.0 million for the same period last year and software license revenues were up slightly to $0.8 million compared to $0.5 million for the same period last year.
• Cloud Services Annual Contract Value (ACV) increased approximately 44% to $42.5 million for the quarter ended October 31, 2021 compared to $29.6 million during the same period of the prior year.
• Total revenues for the quarter ended October 31, 2021 increased 12% to $31.2 million, compared to $27.9 million for the same period of the prior year.
• Recurring revenue streams for Maintenance and Cloud Subscriptions were 63% of total revenues in the quarter ended October 31, 2021 compared to 62% in the same period of the prior year.
• Maintenance revenues for the quarter ended October 31, 2021 decreased 9% to $9.3 million compared to $10.2 million for the same period last year.
• Professional services and other revenues for the quarter ended October 31, 2021 increased 5% to $10.8 million compared to $10.2 million for the same period last year. For the Supply Chain business, professional services revenues for the quarter ended October 31, 2021 increased by 6% to $5.3 million when compared to $5.0 million in the same period prior year.
• Operating earnings for the quarter ended October 31, 2021 increased 326% to $2.7 million compared to $0.6 million for the same period last year.
• GAAP net earnings for the quarter ended October 31, 2021 increased 379% to $3.3 million or $0.10 per fully diluted share compared to $0.7 million or $0.02 per fully diluted share for the same period last year.
• Adjusted net earnings for the quarter ended October 31, 2021, which excludes non-cash stock-based compensation expense and amortization of acquisition-related intangibles, increased 173% to $4.2 million or $0.12 per fully diluted share compared to $1.5 million or $0.05 per fully diluted share for the same period last year.
• EBITDA increased by 74% to $3.7 million for the quarter ended October 31, 2021 compared to $2.1 million for the same period last year.
• Adjusted EBITDA increased by 70% to $4.8 million for the quarter ended October 31, 2021 compared to $2.8 million for the same period last year. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income/(expense) & other, net, income tax expense/ (benefit) and non-cash stock-based compensation expense.

Key Fiscal 2022 Year to Date Financial Highlights:

• Subscription fees were $20.1 million for the six months ended October 31, 2021, a 51% increase compared to $13.3 million for the same period last year, while Software license revenues were $1.3 million compared to $1.2 million for the same period last year, reflecting our conversion to the SaaS engagement model.
• Total revenues for the six months ended October 31, 2021 increased 10% to $60.5 million compared to $55.2 million for the same period last year.
• Recurring revenue streams for Maintenance and Cloud Services were 64% of total revenues for the six-month period ended October 31, 2021 compared to 61% in the same period of the prior year.
• Maintenance revenues for the six months ended October 31, 2021 were $18.7 million, a 9% decrease compared to $20.5 million for the same period last year.
• Professional services and other revenues for the six months ended October 31, 2021 increased 1% to $20.3 million compared to $20.1 million for the same period last year.
• For the six months ended October 31, 2021, the Company reported operating earnings of approximately $4.5 million compared to $1.5 million for the same period last year, a 194% increase.
• GAAP net earnings were approximately $6.3 million or $0.18 per fully diluted share for the six months ended October 31, 2021, a 130% increase compared to $2.7 million or $0.08 per fully diluted share for the same period last year.
• Adjusted net earnings for the six months ended October 31, 2021, which exclude stock-based compensation expense and amortization of acquisition-related intangibles, increased 81% to $7.8 million or $0.23 per fully diluted share, compared to $4.3 million or $0.13 per fully diluted share for the same period last year.
• EBITDA increased by 41% to $6.6 million for the six months ended October 31, 2021 compared to $4.7 million for the same period last year.
• Adjusted EBITDA increased 43% to $8.4 million for the six months ended October 31, 2021 compared to $5.9 million for the six months ended October 31, 2020. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, income tax (benefit)/expense and non-cash stock-based compensation.

The overall financial condition of the Company remains strong, with cash and investments of approximately $111.3 million, an increase of approximately $16.7 million when compared to October 31, 2020, and no debt as of October 31, 2021. During the second quarter of fiscal year 2022, the Company paid shareholder dividends of approximately $3.7 million.

“Our second quarter of fiscal year 2022 is off to a solid start with two consecutive quarters of double-digit growth in our Supply Chain Management segment and a 44% increase in Cloud Services ACV when compared to the same period last year,” said Allan Dow, CEO and president of American Software. “Our backlog as measured by our Remaining Performance Obligations (RPO) increased 58% to $123 million in the second quarter when compared to last year, reflecting a new record for the company. As we head into our seasonally stronger second half, we expect to build upon our momentum as we execute against our growing pipeline and as enterprises increasingly adopt cloud-based supply chain transformation solutions.”

“This past quarter also emphasized that sustainability initiatives are becoming increasingly influential to consumers and, consequently, businesses. Many companies are evaluating their social and environmental initiatives and are finding that a majority of their impact can be traced back to their supply chain practices,” continued Dow. “This is driving companies of all sizes to lean on technology to measure their emissions and identify opportunities for improvement. We believe the future of supply chain sustainability is rooted in transparency, traceability and automation.”

Key Second quarter of fiscal year 2022 highlights:

Customers & Channels

• Notable new and existing customers placing orders with the Company in the second quarter include: Diversey, Inc., Gerdau Ameristeel US, Inc., Griffith Foods Worldwide, Inc., Lacoste Operations, Lindsay Corporation, Sauer Brands, Inc, Stichd B.V., Whitebridge Pet Brands, LLC.
• During the quarter, SaaS subscription and/or software license agreements were signed with customers located in the following 6 countries: Belgium, Canada, France, Mexico, New Zealand, and United States.
• Logility, Inc. and Demand Management, Inc., wholly owned subsidiaries of the Company, were recognized as SupplyChainBrain’s 2021 100 Great Supply Chain Partners. The recognized companies are a select group of companies whose customers recognize them for providing outstanding solutions and services.
• During the quarter, Logility announced its ranking as the highest in the Digital Planning Use Case in the 2021 Gartner “Critical Capabilities for Supply Chain Planning Solutions” report. Logility’s Digital Supply Chain Platform offers support for a broad range of supply chain planning requirements, from sales and operations planning (S&OP) through manufacturing.
• Also during the quarter, Logility and Demand Management congratulated their customers who were recognized as Supply & Demand Chain Executive’s 2021 Women in Supply Chain. Customers recognized were Mandy McCain of Berry Global, Katherine Storer of Berlin Packaging, Stephanie Francis of ChemPoint, Michelle Wielemaker of Capral Australia and Mariam Belghith of Laboratories Philadelphia in Sfax, Tunisia (laboratories SIMED).

Company and Technology

• During the quarter, Logility announced its partnership with PricewaterhouseCoopers (PwC) to bring the latest innovation in supply chain technology and services to strengthen its local Brazilian market presence and enable digital transformation.
• Logility announced the partnership with Visus LLC to support analytics customers and their digital transformation journeys. The partnership leverages digital solutions using web and mobile technology to help drive value.
• Logility also announced its latest software release which supports corporate social responsibility and supply chain traceability goals. Logility 21.02 powers technology to ensure sustainable, ethical practices that support brand integrity and corporate responsibility.
• Also during the quarter, Logility announced the partnership with ArcherGrey to strengthen consulting and technology solutions for its customers. The partnership will support the evolving needs of customers in a rapidly changing supply chain environment.

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. Customers of New Generation Computing, Inc. which are now serviced by Logility and Demand Management, include Brooks Brothers, Carter’s, Destination XL, 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 (626) 657-0013 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/(expense) & other, net, and income tax (benefit)/expense. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, income tax (benefit)/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.

Logility® is a registered trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.

AMERICAN SOFTWARE, INC.
Consolidated Statements of Operations Information
(In thousands, except per share data, unaudited)
			Second Quarter Ended							Six Months Ended
			October 31,							October 31,
			2021		2020			Pct Chg.		2021			2020			Pct Chg.
Revenues:
	Subscription fees		$	10,361	$	6,966		49	%	$	20,149		$	13,329		51	%
	License fees			805		450		79	%		1,297			1,237		5	%
	Professional services & other			10,779		10,242		5	%		20,308			20,056		1	%
	Maintenance			9,266		10,223		(9	%)		18,728			20,537		(9	%)
		Total Revenues		31,211		27,881		12	%		60,482			55,159		10	%
Cost of Revenues:
	Subscription services			3,404		2,946		16	%		6,628			5,705		16	%
	License fees			198		553		(64	%)		357			1,228		(71	%)
	Professional services & other			7,477		7,624		(2	%)		14,487			15,454		(6	%)
	Maintenance			1,746		1,941		(10	%)		3,720			3,714		0	%
		Total Cost of Revenues		12,825		13,064		(2	%)		25,192			26,101		(3	%)
Gross Margin				18,386		14,817		24	%		35,290			29,058		21	%
Operating expenses:
	Research and development			4,278		4,463		(4	%)		8,702			8,803		(1	%)
	Less: capitalized development			-		(126	)	(100	%)		-			(371	)	(100	%)
	Sales and marketing			5,892		5,429		9	%		12,012			10,173		18	%
	General and administrative			5,476		4,367		25	%		10,010			8,831		13	%
	Amortization of acquisition-related intangibles			53		53		0	%		106			106		0	%
		Total Operating Expenses		15,699		14,186		11	%		30,830			27,542		12	%
Operating Earnings				2,687		631		326	%		4,460			1,516		194	%
Interest Income/(Expense) & Other, Net				930		(42	)	nm			1,367			1,290		6	%
Earnings Before Income Taxes				3,617		589		514	%		5,827			2,806		108	%
Income Tax Expense/(Benefit)				303		(103	)	nm			(434	)		80		nm
Net Earnings			$	3,314	$	692		379	%	$	6,261		$	2,726		130	%
Earnings per common share: (1)
	Basic		$	0.10	$	0.02		400	%	$	0.19		$	0.08		138	%
	Diluted		$	0.10	$	0.02		400	%	$	0.18		$	0.08		125	%
Weighted average number of common shares outstanding:
		Basic		33,336		32,489					33,195			32,414
		Diluted		34,684		32,896					34,448			32,919
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AMERICAN SOFTWARE, INC.
NON-GAAP MEASURES OF PERFORMANCE
(In thousands, except per share data, unaudited)
		Second Quarter Ended								Six Months Ended
		October 31,								October 31,
		2021			2020			Pct Chg.		2021			2020			Pct Chg.
NON-GAAP Operating Earnings:
Operating Earnings (GAAP Basis)		$	2,687		$	631		326	%	$	4,460		$	1,516		194	%
	Amortization of acquisition-related intangibles		53			311		(83	%)		106			622		(83	%)
	Stock-based compensation		1,042			652		60	%		1,817			1,198		52	%
NON-GAAP Operating Earnings:			3,782			1,594		137	%		6,383			3,336		91	%
Non-GAAP Operating Earnings, as a % of revenue			12	%		6	%				11	%		6	%
		Second Quarter Ended								Six Months Ended
		October 31,								October 31,
		2021			2020			Pct Chg.		2021			2020			Pct Chg.
NON-GAAP EBITDA:
Net Earnings (GAAP Basis)		$	3,314		$	692		379	%	$	6,261		$	2,726		130	%
	Income Tax Expense/(Benefit)		303			(103	)	nm			(434	)		80		nm
	Interest Income/(Expense) & Other, Net		(930	)		42		nm			(1,367	)		(1,290	)	6	%
	Amortization of intangibles		860			1,353		(36	%)		1,816			2,883		(37	%)
	Depreciation		179			161		11	%		353			311		14	%
EBITDA (earnings before interest, taxes, depreciation and amortization)			3,726			2,145		74	%		6,629			4,710		41	%
	Stock-based compensation		1,042			652		60	%		1,817			1,198		52	%
Adjusted EBITDA		$	4,768		$	2,797		70	%	$	8,446		$	5,908		43	%
EBITDA, as a percentage of revenues			12	%		8	%				11	%		9	%
Adjusted EBITDA, as a percentage of revenues			15	%		10	%				14	%		11	%
		Second Quarter Ended								Six Months Ended
		October 31,								October 31,
		2021			2020			Pct Chg.		2021			2020			Pct Chg.
NON-GAAP EARNINGS PER SHARE:
Net Earnings (GAAP Basis)		$	3,314		$	692		379	%	$	6,261		$	2,726		130	%
	Amortization of acquisition-related intangibles (2)		43			272		(84	%)		85			545		(84	%)
	Stock-based compensation (2)		836			570		47	%		1,456			1,048		39	%
Adjusted Net Earnings		$	4,193		$	1,534		173	%	$	7,802		$	4,319		81	%
Adjusted non-GAAP diluted earnings per share		$	0.12		$	0.05		140	%	$	0.23		$	0.13		77	%
		Second Quarter Ended								Six Months Ended
		October 31,								October 31,
		2021			2020			Pct Chg.		2021			2020			Pct Chg.
NON-GAAP Earnings Per Share
Net Earnings (GAAP Basis)		$	0.10		$	0.02		400	%	$	0.18		$	0.08		125	%
	Amortization of acquisition-related intangibles (2)		-			0.01		(100	%)		-			0.02		(100	%)
	Stock-based compensation (2)		0.02			0.02		0	%		0.05			0.03		67	%
Adjusted Net Earnings			0.12		$	0.05		140	%		0.23		$	0.13		77	%
		Second Quarter Ended								Six Months Ended
		October 31,								October 31,
		2021			2020			Pct Chg.		2021			2020			Pct Chg.
Amortization of acquisition-related intangibles
	Cost of license	$	-		$	258		(100	%)	$	-		$	516		(100	%)
	Operating expenses		53			53		0	%		106			106		0	%
Total amortization of acquisition-related intangibles		$	53		$	311		(83	%)	$	106		$	622		(83	%)
Stock-based compensation
	Cost of revenues	$	68		$	23		196	%	$	129		$	66		95	%
	Research and development		99			49		102	%		167			74		126	%
	Sales and marketing		174			87		100	%		317			153		107	%
	General and administrative		701			493		42	%		1,204			905		33	%
Total stock-based compensation		$	1,042		$	652		60	%	$	1,817		$	1,198		52	%
(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 $0.10 and $0.19 for the three and six months ended October 31, 2021, respectively. Diluted per share for Class B shares under the two-class method are $0.02 and $0.09 for the three and six months ended October 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 six month periods ended October 31, 2021 of 19.8% and 12.5% for the three and six month periods ended October 31, 2020, respectively.
nm- not meaningful

AMERICAN SOFTWARE, INC.
Consolidated Balance Sheet Information
(In thousands)
(Unaudited)
			October 31,		April 30,
			2021		2021
Cash and Cash Equivalents			$	94,201	$	88,658
Short-term Investments				17,163		16,006
Accounts Receivable:
	Billed			19,662		24,438
	Unbilled			2,475		2,201
Total Accounts Receivable, net				22,137		26,639
Prepaids & Other				7,375		5,320
Current Assets				140,876		136,623
PP&E, net				3,689		3,428
Capitalized Software, net				3,057		4,767
Goodwill				25,888		25,888
Other Intangibles, net				254		360
Deferred Sales Commissions - Non-current				2,256		2,474
Lease Right of Use Assets				1,249		1,454
Other Non-current Assets				2,339		2,163
Total Assets			$	179,608	$	177,157
Accounts Payable			$	1,994	$	1,732
Accrued Compensation and Related costs				4,281		6,129
Dividend Payable				3,676		3,615
Operating Lease Obligation - Current				665		739
Other Current Liabilities				611		1,307
Deferred Revenues - Current				35,968		37,142
Current Liabilities				47,195		50,664
Operating Lease Obligation - Non-current				669		821
Deferred Tax Liability - Non-current				2,527		2,627
Other Long-term Liabilities				370		654
Long-term Liabilities				3,566		4,102
		Total Liabilities		50,761		54,766
Shareholders' Equity				128,847		122,391
Total Liabilities & Shareholders' Equity			$	179,608	$	177,157

AMERICAN SOFTWARE, INC.
Condensed Consolidated Cashflow Information
(In thousands)
(Unaudited)
		Second Quarter Ended
		October 31,
		2021			2020
	Net cash provided by operating activities	$	7,712		$	6,771
	Capitalized computer software development costs		-			(371	)
	Purchases of property and equipment, net of disposals		(615	)		(163	)
	Net cash used in investing activities		(615	)		(534	)
	Dividends paid		(7,268	)		(7,118	)
	Proceeds from exercise of stock options		5,714			2,853
	Net cash used in financing activities		(1,554	)		(4,265	)
	Net change in cash and cash equivalents		5,543			1,972
	Cash and cash equivalents at beginning of period		88,658			79,814
	Cash and cash equivalents at end of period	$	94,201		$	81,786

Contacts

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

XML

Document and Entity Information	Nov. 18, 2021
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 18, 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