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Paylocity
🇺🇸 NASDAQ:PCTY
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Jun 30, 2024

Paylocity Q4 2024 Earnings Report

Paylocity's Q4 2024 financial results were announced, demonstrating growth in revenue and profitability.

Key Takeaways

Paylocity announced strong Q4 and full fiscal year 2024 financial results, driven by its position as a modern HCM provider. Total revenue increased by 16% year-over-year, with recurring and other revenue up by 15%. The company also returned capital to shareholders by repurchasing $150 million of its stock.

Total revenue increased by 16% year-over-year.

Recurring & other revenue increased by 15% year-over-year.

GAAP net income was $48.8 million or $0.86 per share.

Adjusted EBITDA was $120.2 million.

Total Revenue
$357M
Previous year: $308M
+15.8%
EPS
$1.48
Previous year: $1.32
+12.1%
Gross Profit
$240M
Previous year: $212M
+13.5%
Cash and Equivalents
$402M
Previous year: $289M
+39.1%
Free Cash Flow
$73.6M
Previous year: $63.5M
+16.0%
Total Assets
$4.25B
Previous year: $3.7B
+14.9%

Paylocity

Paylocity

Paylocity Revenue by Segment

Forward Guidance

Paylocity provided guidance for the first quarter and full fiscal year 2025.

Positive Outlook

  • Recurring and other revenue is expected to be in the range of $325.5 million to $330.5 million for Q1 2025, representing approximately 12.5% growth.
  • Total revenue is expected to be in the range of $353.5 million to $358.5 million for Q1 2025, representing approximately 12.1% growth.
  • Adjusted EBITDA is expected to be in the range of $116.5 million to $120.5 million for Q1 2025.
  • Adjusted EBITDA excluding interest income on funds held for clients is expected to be in the range of $88.5 million to $92.5 million for Q1 2025.
  • Recurring and other revenue is expected to be in the range of $1.405 billion to $1.420 billion for FY 2025, representing approximately 10.2% growth.

Challenges Ahead

  • Total revenue is expected to be in the range of $1.512 billion to $1.527 billion for FY 2025, representing approximately 8.3% growth.
  • Adjusted EBITDA is expected to be in the range of $533.0 million to $543.0 million for FY 2025.
  • Adjusted EBITDA excluding interest income on funds held for clients is expected to be in the range of $426.0 million to $436.0 million for FY 2025.
  • Unable to reconcile forward-looking non-GAAP financial measures included in guidance to their directly comparable GAAP financial measures.
  • Guidance based on information available as of August 1, 2024.

Company Overview

Full financial data and analysis

View Paylocity