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Dec 31, 2022
Asure Q4 2022 Earnings Report
Asure reported record Q4 revenues and a net loss improvement.
Key Takeaways
Asure Software reported record fourth-quarter revenue of $29.3 million, a 39% increase year-over-year. The company's net loss improved by $3.2 million compared to the prior year. Asure is raising its 2023 financial targets and guidance.
Revenue reached $29.3 million, up 39% from the previous year's quarter.
Recurring revenue increased to $24.1 million, a 25% rise from the prior year's quarter.
Net loss improved by $3.2 million year-over-year, reaching $1.1 million.
EBITDA was $5.0 million, an increase of $3.5 million from the prior year's quarter.
Revenue by Segment
Forward Guidance
Asure is providing guidance for Q1 and full year 2023, with revenue expected to be in the range of $29.0M - $30.0M for Q1 2023 and $105.0M - $107.0M for FY 2023. Adjusted EBITDA is expected to be 15%-17% for FY 2023.
Positive Outlook
- Revenue for FY 2023 is projected to be between $105.0M and $107.0M.
- Adjusted EBITDA for FY 2023 is expected to be between 15% and 17%.
- Revenue for Q1 2023 is projected to be between $29.0M and $30.0M.
- Adjusted EBITDA for Q1 2023 is expected to be between $6.0M and $6.5M.
- Company is focused on growing the customer base and service suite.
Challenges Ahead
- High level of economic uncertainty in 2023 due to recent inflationary trends.
- Potential for a recession of unknown severity.
- Projections are based on current beliefs and assumptions about the Company's business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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