Loading...
•
Sep 30, 2021
Asure Q3 2021 Earnings Report
Asure's revenue increased by 12% year-over-year, with two-thirds attributed to organic growth. The company reported a GAAP net income of $5.3 million, which included a $10.5 million gain from ERTC credit.
Key Takeaways
Asure Software, Inc. reported third-quarter results with a 12% increase in revenue compared to the prior year. The company acquired two payroll businesses and introduced a new integrated payroll and HR solutions platform. They also reported a GAAP net income of $5.3 million, including a $10.5 million gain from the Employee Retention Tax Credit (ERTC).
Revenue of $17.98 million, up 12% from the prior year’s quarter, and up 5% sequentially
Total bookings were up 43% year over year, and flat sequentially
GAAP net income of $5.3 million including a $10.5 million gain related to the Company’s ERTC credit
Non-GAAP EBITDA of $1.2 million, or 7% margin
Asure
Asure
Asure Revenue by Segment
Revenue by Segment
Recurring Revenue
CapyFin.comProfessional Services, Hardware & Other Revenue
CapyFin.com Forward Guidance
The company provided revenue guidance for the fourth quarter of 2021 and fiscal year 2022.
Positive Outlook
- Fourth Quarter 2021 Revenue: $20.5 million—$21.0 million
- Fourth Quarter 2021 Non-GAAP EBITDA: $1.5 million—$1.7 million
- Fourth Quarter 2021 Non-GAAP EPS: $(0.05)—$(0.03)
- Fiscal Year 2022 Revenue: $85.0 million—$90.0 million
- Fiscal Year 2022 Non-GAAP EBITDA Margin percentages and Non-GAAP EPS to be in line with historical percentages and seasonal trends
Challenges Ahead
- Continuing challenging environment to predict future economic results given the ebbs and flows of employment trends
- Continuing challenging environment to predict future economic results given the ebbs and flows of COVID
- Continuing challenging environment to predict future economic results given the ebbs and flows of other economic challenges of today
- Non-GAAP EPS Guidance for Q4 2021 is negative
- There is risk associated with possible fluctuations in the Company’s financial and operating results
Revenue & Expenses
Visualization of income flow from segment revenue to net income