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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.
Paylocity
Paylocity
Paylocity Revenue by Segment
Revenue by Segment
Recurring & Other Revenue
CapyFin.com 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.