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Dec 31, 2019
Asure Q4 2019 Earnings Report
Reported record results for the fourth quarter and full year 2019.
Key Takeaways
Asure reported a 1.4% increase in revenue for the fourth quarter of 2019 compared to the fourth quarter of 2018. GAAP earnings per share was $2.66, compared with $0.11 in the fourth quarter of 2018.
Asure is now a pure-play HCM SaaS vendor after selling its Workspace Management division.
Net cash position improved $110.0 Million sequentially to $2.1 Million due primarily to sale proceeds and amended debt facility.
Fourth-quarter HCM bookings increased 62% year-over-year.
Announced a $5 Million stock repurchase program.
Forward Guidance
Asure reiterates the following guidance for HCM only for 2020: GAAP Revenue (HCM only) $72.0 million to $74.0 million and Non-GAAP HCM EBITDA $11.0 million to $12.0 million
Positive Outlook
- GAAP Revenue (HCM only) $72.0 million to $74.0 million
- Non-GAAP HCM EBITDA $11.0 million to $12.0 million
- Interest expense $1.0 million to $2.0 million
- Amortization $12.0 million to $13.0 million
- Non-GAAP effective tax rate 0%
Challenges Ahead
- Depreciation $0.5 million to $1.5 million
- Stock compensation expense $1.0 million to $2.0 million
- Acquisition costs and other one-time expenses $2.0 million to $3.0 million
- Basic average shares outstanding 15.3 million to 16.5 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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