Asure Q1 2023 Earnings Report
Key Takeaways
Asure reported strong first quarter 2023 results, with revenue reaching $33.1 million, a 36% increase year-over-year. The company's net income improved by $3.4 million compared to the previous year, and gross profit increased by 58%. Asure also raised its 2023 financial targets and guidance.
Revenue of $33.1 million, up 36% from prior-year’s first quarter
Recurring revenue of $28.0 million, up 22% from prior-year’s first quarter
Net income of $0.3 million, a $3.4 million improvement from prior-year’s first quarter
Gross profit of $24.4 million, up 58% from prior-year’s first quarter
Asure
Asure
Asure Revenue by Segment
Forward Guidance
The Company is providing the following guidance for the second quarter and full year 2023 based on first quarter results and recent business trends. This guidance is offered with the knowledge that there is a high level of economic uncertainty in 2023 due to recent inflationary trends and the potential for a recession of unknown severity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income