Asure Q1 2022 Earnings Report
Key Takeaways
Asure Software reported a strong first quarter in 2022, with a 23% increase in revenue and an 18% increase in non-GAAP EBITDA compared to the previous year. The company launched innovative initiatives like the Integration Marketplace and integrated acquisitions, contributing to the positive results.
Revenue increased by 23% year-over-year, reaching $24.3 million.
Non-GAAP EBITDA grew by 18% year-over-year, totaling $4.0 million.
Non-GAAP net income was $2.2 million, consistent with the prior year's quarter.
Total bookings increased by 43% year-over-year (unaudited).
Asure
Asure
Asure Revenue by Segment
Forward Guidance
Asure has raised the low end of its revenue guidance for 2022, with a new range of $88 - $90 million. The company anticipates an accelerated level of investment in its product and Integration Marketplace in the second half of 2022 and 2023.
Positive Outlook
- Revenue for Q2 2022 is projected to be between $20.0M - 20.5M
- Revenue for Q3 2022 is projected to be between $21.0M - 21.5M
- Revenue for Q4 2022 is projected to be between $23.0M - 23.5M
- Full year 2022 revenue is projected to be between $88.0M - 90.0M
- Non-GAAP EBITDA for the full year 2022 is projected to be between $8.5M - 10.0M
Challenges Ahead
- Non-GAAP EPS for Q2 2022 is projected to be between $(0.10) - (0.07)
- Non-GAAP EPS for Q3 2022 is projected to be between $(0.05) - (0.02)
- Non-GAAP EPS for Q4 2022 is projected to be between $(0.01) - 0.01
- Non-GAAP EPS for the full year 2022 is projected to be between $(0.05) - 0.02
- The outlook considers the impact of fluctuations in employment trends, COVID-19, and political and economic challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income