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Mar 31, 2022
Paylocity Q3 2022 Earnings Report
Reported strong Q3 2022 financial results with revenue growth driven by strong sales execution and market resonation.
Key Takeaways
Paylocity announced strong financial results for the third quarter of fiscal year 2022, with a 32% increase in total revenue compared to the same quarter last year. Recurring and other revenue also increased by 32%. The company's adjusted EBITDA was $85.7 million for the quarter.
Total revenue was $246.0 million, up 32% year-over-year.
Recurring and other revenue was $245.0 million, up 32% year-over-year.
GAAP operating income was $47.4 million and Non-GAAP operating income was $75.5 million.
Adjusted EBITDA was $85.7 million.
Paylocity
Paylocity
Paylocity Revenue by Segment
Revenue by Segment
Recurring & Other Revenue
CapyFin.com Forward Guidance
Paylocity is issuing guidance for the fourth quarter and full fiscal year 2022. Total revenue for Q4 2022 is expected to be in the range of $215.5 million to $219.5 million, representing approximately 30% growth. Adjusted EBITDA for Q4 2022 is expected to be in the range of $49.5 million to $52.5 million. Total revenue for fiscal year 2022 is expected to be in the range of $839.2 million to $843.2 million, representing approximately 32% growth. Adjusted EBITDA for fiscal year 2022 is expected to be in the range of $228.0 million to $231.0 million.
Positive Outlook
- Total revenue for Q4 2022 is expected to grow by approximately 30%.
- Adjusted EBITDA for Q4 2022 is expected to be in the range of $49.5 million to $52.5 million.
- Total revenue for fiscal year 2022 is expected to grow by approximately 32%.
- Adjusted EBITDA for fiscal year 2022 is expected to be in the range of $228.0 million to $231.0 million.