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Sep 30, 2024
Paylocity Q1 2025 Earnings Report
Paylocity's Q1 2025 financial results were announced, demonstrating strong growth and increased profitability.
Key Takeaways
Paylocity reported a strong start to fiscal year 2025, with a 14% increase in both recurring & other revenue and total revenue. The company's profitability also significantly increased year-over-year. Paylocity completed the acquisition of Airbase, expanding its total addressable market.
Recurring & Other Revenue and Total Revenue grew by 14% year-over-year.
GAAP operating income increased to $64.1 million, and non-GAAP operating income reached $104.9 million.
GAAP net income was $49.6 million, or $0.88 per share.
The acquisition of Airbase was completed on October 1, 2024, expanding Paylocity's offerings into finance and spend management.
Paylocity
Paylocity
Paylocity Revenue by Segment
Revenue by Segment
Recurring & Other Revenue
CapyFin.com Forward Guidance
Paylocity provided guidance for the second quarter and full fiscal year 2025.
Positive Outlook
- Recurring and other revenue is expected to be in the range of $337.5 million to $342.5 million for Q2 2025, representing approximately 14% growth.
- Total revenue is expected to be in the range of $364.0 million to $369.0 million for Q2 2025, representing approximately 12% growth.
- Adjusted EBITDA is expected to be in the range of $116.0 million to $120.0 million for Q2 2025.
- Adjusted EBITDA excluding interest income on funds held for clients is expected to be in the range of $89.5 million to $93.5 million for Q2 2025.
- Recurring and other revenue is expected to be in the range of $1.427 billion to $1.442 billion for fiscal year 2025, representing approximately 12% growth.
Challenges Ahead
- Total revenue is expected to be in the range of $1.535 billion to $1.550 billion for fiscal year 2025, representing approximately 10% growth.
- Adjusted EBITDA is expected to be in the range of $530.0 million to $540.0 million for fiscal year 2025.
- Adjusted EBITDA excluding interest income on funds held for clients is expected to be in the range of $422.0 million to $432.0 million for fiscal year 2025.
- The company is unable to reconcile the forward-looking non-GAAP measures to their directly comparable GAAP financial measures because the information needed to complete a reconciliation is unavailable at this time without unreasonable effort.
- Forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed.