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Mar 31, 2022
Dayforce Q1 2022 Earnings Report
Ceridian's first quarter results showcased strong revenue growth and exceeded expectations.
Key Takeaways
Ceridian reported a strong start to the year with Dayforce recurring revenue excluding float up 31% year-over-year and Adjusted EBITDA exceeding the high end of guidance. Total revenue increased by 25.1% to $293.3 million.
Total revenue increased by 25.1% year-over-year to $293.3 million.
Dayforce recurring revenue, excluding float, grew by 31% year-over-year.
Adjusted EBITDA reached $57.4 million, surpassing the high end of guidance.
5,609 Dayforce customers were live on the platform, an increase of 11%.
Revenue by Segment
Forward Guidance
Ceridian is issuing guidance for the second quarter and full year of 2022. Second Quarter 2022 Guidance includes Dayforce recurring revenue, excluding float revenue, of $182 million to $184 million, Cloud revenue of $258 million to $260 million, and Total revenue of $293 million to $296 million. Full Year 2022 Guidance indicate Dayforce recurring revenue, excluding float revenue of $751 million to $762 million, Cloud revenue of $1,067 million to $1,083 million, and Total revenue of $1,208 million to $1,230 million.
Positive Outlook
- Dayforce recurring revenue, excluding float revenue, of $182 million to $184 million, or an increase of 27% to 29% on a GAAP basis and 28% to 29% on a constant currency basis.
- Cloud revenue of $258 million to $260 million, or an increase of 23% to 24% on a GAAP basis and 24% to 25% on a constant currency basis.
- Total revenue of $293 million to $296 million, or an increase of 17% to 18% on a GAAP basis and 18% to 19% on a constant currency basis.
- Float revenue of $13 million, an increase of 25% on a GAAP and constant currency basis.
- Adjusted EBITDA of $45 million to $47 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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