Asure Q2 2021 Earnings Report
Key Takeaways
Asure Software reported a 22% year-over-year revenue increase in Q2 2021, driven by both organic and inorganic growth, with significant contributions from the Payroll Tax Management acquisition. Bookings increased by 48% year-over-year, and the company facilitated nearly $100 million in Employee Retention Tax Credits (ERTC) for its small business clients.
Revenue increased by 22% year-over-year to $17.2 million.
Total bookings increased by 48% year-over-year and 51% sequentially.
GAAP net income was $3.8 million, including an $8.7 million PPP loan forgiveness.
Non-GAAP EBITDA reached $1.1 million, representing a 6% margin.
Asure
Asure
Asure Revenue by Segment
Forward Guidance
Asure provided guidance for the third quarter of 2021, anticipating revenue between $17.0 million and $17.5 million, non-GAAP EBITDA between $0.8 million and $1.0 million, and non-GAAP EPS between $(0.03) and $(0.01).
Positive Outlook
- Revenue between $17.0 million and $17.5 million
- Non-GAAP EBITDA between $0.8 million and $1.0 million
Challenges Ahead
- Non-GAAP EPS between $(0.03) and $(0.01)
Revenue & Expenses
Visualization of income flow from segment revenue to net income