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Sep 30, 2022
Paylocity Q1 2023 Earnings Report
Reported strong revenue growth driven by differentiated value proposition.
Key Takeaways
Paylocity announced strong financial results for the first quarter of fiscal year 2023, with total revenue increasing by 39% year-over-year to $253.3 million and recurring and other revenue growing by 36% year-over-year to $245.4 million. GAAP net income was $30.4 million, or $0.54 per share. Adjusted EBITDA was $66.6 million.
Total revenue increased by 39% year-over-year to $253.3 million.
Recurring and other revenue increased by 36% year-over-year to $245.4 million.
GAAP net income was $30.4 million, or $0.54 per share.
Adjusted EBITDA was $66.6 million.
Revenue by Segment
Forward Guidance
Paylocity is issuing guidance for the second quarter and full fiscal year 2023. Second quarter total revenue is expected to be in the range of $257.0 million to $261.0 million, representing approximately 32% growth. Second quarter Adjusted EBITDA is expected to be in the range of $63.5 million to $66.5 million. Full fiscal year 2023 total revenue is expected to be in the range of $1.122 billion to $1.127 billion, representing approximately 32% growth. Full fiscal year 2023 Adjusted EBITDA is expected to be in the range of $336.0 million to $340.0 million.
Positive Outlook
- Total revenue is expected to be in the range of $257.0 million to $261.0 million, which represents approximately 32% growth over fiscal 2022 second quarter total revenue.
- Adjusted EBITDA is expected to be in the range of $63.5 million to $66.5 million.
- Total revenue is expected to be in the range of $1.122 billion to $1.127 billion, which represents approximately 32% growth over fiscal year 2022 total revenue.
- Adjusted EBITDA is expected to be in the range of $336.0 million to $340.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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