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Jun 30, 2024
Asure Q2 2024 Earnings Report
Asure's Q2 2024 performance was marked by recurring revenue growth and strategic partnerships.
Key Takeaways
Asure reported Q2 2024 revenues of $28 million, with recurring revenues up 18% year-over-year. The company experienced a net loss of $4.4 million. They announced new agreements and acquisitions to enhance their product suite.
Revenue was $28 million, down 8% year-over-year due to a reduction in ERTC revenue.
Recurring revenue increased by 18% year-over-year, reaching $27.1 million.
The company acquired an applicant tracking system technology company and partnered with MyHRScreens to expand background screening solutions.
Full year 2024 revenue guidance updated to a range of $123M-$129M.
Asure
Asure
Asure Revenue by Segment
Revenue by Segment
Recurring Revenue
CapyFin.comProfessional Services, Hardware & Other Revenue
CapyFin.com Forward Guidance
The Company is providing the following guidance for the third quarter 2024 and full year 2024 based on the Company’s year-to-date results and recent business trends. Management is updating full year 2024 guidance range to $123M-$129M.
Positive Outlook
- Revenue Q3 2024: $30.0M – 33.0M
- Revenue FY 2024: $123.0M –129.0M
- Adjusted EBITDA Q3 2024: $6.0M –7.0M
- Adjusted EBITDA FY 2024: 20% – 21%
Revenue & Expenses
Visualization of income flow from segment revenue to net income