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Sep 30, 2025
Paylocity Q1 2026 Earnings Report
Paylocity reported its Q1 FY26 results with solid revenue growth and improved profitability metrics.
Key Takeaways
Paylocity delivered a strong Q1 FY26 with 12% total revenue growth and an increase in non-GAAP operating income and adjusted EBITDA, despite a slight decline in net income.
Total revenue rose to $408.2 million, up 12% from Q1 FY25.
Adjusted EBITDA grew to $146.4 million, reflecting operational efficiency.
Net income slightly declined to $48.0 million from $49.6 million year-over-year.
The company repurchased $200 million worth of shares in the quarter.
Revenue by Segment
Forward Guidance
Paylocity expects moderate revenue and EBITDA growth in Q2 FY26 and FY26, building on the momentum from Q1.
Positive Outlook
- Q2 total revenue expected between $405.5M and $410.5M.
- Q2 adjusted EBITDA expected between $131.5M and $135.5M.
- FY26 total revenue projected between $1.715B and $1.730B.
- FY26 adjusted EBITDA expected between $615M and $625M.
- Recurring revenue for FY26 expected between $1.605B and $1.620B.
Challenges Ahead
- Q2 revenue growth guidance at ~8%, indicating slower growth compared to Q1.
- Adjusted EBITDA growth rate decelerating slightly in Q2 vs. Q1.
- Free cash flow declined YoY in Q1 FY26.
- Net income declined YoY despite top-line growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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