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Jun 30, 2020

Asure Q2 2020 Earnings Report

Asure announced leadership changes to drive growth and world-class SaaS HCM solutions for small businesses.

Key Takeaways

Asure announced leadership changes, including Pat Goepel assuming the role of Chairman of the Board in addition to CEO, Eyal Goldstein promoted to President and Chief Revenue Officer, and Jay Powers appointed as Chief Financial Officer. Grace Lee and Ben Allen joined the Board of Directors.

Pat Goepel assumes the additional role of Chairman of the Board.

Eyal Goldstein has been promoted to President and Chief Revenue Officer.

Jay Powers has been appointed as Chief Financial Officer.

Grace Lee and Ben Allen joined the Asure Board of Directors.

Total Revenue
$14.1M
Previous year: $24.8M
-43.2%
EPS
$0.03
Previous year: $0.08
-62.5%
Gross Profit
$8.11M
Previous year: $15M
-45.9%
Cash and Equivalents
$29.3M
Previous year: $14.7M
+99.6%
Free Cash Flow
-$1.03M
Previous year: -$1.47M
-29.8%
Total Assets
$303M
Previous year: $357M
-15.2%

Asure

Asure

Forward Guidance

Asure aims to double revenue over the next five years while tripling non-GAAP EBITDA.

Positive Outlook

  • Leadership changes are expected to deepen industry expertise.
  • The company is 100% focused on delivering world-class SaaS HCM solutions for small businesses.
  • Strategic initiatives are in place to drive growth, both organic and through reseller acquisitions.
  • The company's focus on the Tier-2/3 market and small businesses remains a differentiator.
  • Asure's reseller network, client service, and product innovation are key strengths.