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Jun 30, 2023
Asure Q2 2023 Earnings Report
Asure's revenue increased by 50% year-over-year, reaching $30.4 million, and the company raised its 2023 financial targets and guidance.
Key Takeaways
Asure reported strong second-quarter results with a 50% increase in revenue to $30.4 million and significant improvements in profitability metrics, driven by technology enhancements and targeted sales efforts. The company has raised its full-year 2023 guidance, reflecting confidence in continued growth and operational efficiency.
Revenue reached $30.4 million, a 50% increase compared to the prior-year second quarter.
Recurring revenue grew to $23.0 million, up 21% from the prior-year second quarter.
Net loss improved to $3.8 million, a $2.1 million improvement from the prior-year second quarter.
Gross profit increased to $22.0 million, up 80% from the prior-year second quarter.
Revenue by Segment
Forward Guidance
Asure has increased its 2023 guidance ranges and introduced third-quarter 2023 guidance, with revenue expected to be between $118.0M - $120.0M for the full year and $26.0M - $27.0M for Q3 2023. Adjusted EBITDA is expected to be 19%-20% for the full year and $3.5M - $4.5M for Q3 2023.
Positive Outlook
- Revenue for FY 2023 is projected to be $118.0M - $120.0M.
- Revenue for Q3 2023 is projected to be $26.0M - $27.0M.
- Adjusted EBITDA for FY 2023 is expected to be 19% - 20%.
- Adjusted EBITDA for Q3 2023 is expected to be $3.5M - $4.5M.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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