Paylocity Q2 2022 Earnings Report
Key Takeaways
Paylocity announced its Q2 2022 financial results, demonstrating a 34% increase in total revenue year-over-year, reaching $196.0 million. The company's recurring and other revenue also grew by 34% to $195.0 million. GAAP net income was $9.9 million, or $0.17 per share, and adjusted EBITDA was $46.6 million.
Total revenue increased by 34% year-over-year to $196.0 million.
Recurring and other revenue also increased by 34% year-over-year to $195.0 million.
GAAP operating income was $8.1 million and Non-GAAP operating income was $36.6 million.
Adjusted EBITDA reached $46.6 million.
Paylocity
Paylocity
Paylocity Revenue by Segment
Forward Guidance
Paylocity provided guidance for Q3 2022 and full fiscal year 2022. Total revenue for Q3 is expected to be between $239.0 million and $243.0 million, representing approximately 30% growth. Adjusted EBITDA for Q3 is expected to be between $77.0 million and $80.0 million. For the full fiscal year 2022, total revenue is expected to be between $829.0 million and $834.0 million, representing approximately 31% growth. Adjusted EBITDA for the full fiscal year is expected to be between $220.0 million and $224.0 million.
Positive Outlook
- Total revenue is expected to grow by approximately 30% in Q3 2022.
- Adjusted EBITDA is expected to be in the range of $77.0 million to $80.0 million for Q3 2022.
- Total revenue is expected to grow by approximately 31% for the full fiscal year 2022.
- Adjusted EBITDA is expected to be in the range of $220.0 million to $224.0 million for the full fiscal year 2022.
- Revenue for Q3 is expected to be between $239.0 million and $243.0 million