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Jun 30, 2022
Dayforce Q2 2022 Earnings Report
Ceridian's Q2 2022 financial results were announced, demonstrating growth in Dayforce recurring revenue and expansion of cloud recurring gross margin.
Key Takeaways
Ceridian reported a 20.3% increase in total revenue, reaching $301.2 million. Dayforce recurring revenue increased by 29.0% to $194.3 million. The company's cloud recurring gross margin was 72.2%, and adjusted net income was $33.0 million, or $0.21 per share.
Total revenue increased by 20.3% year-over-year, reaching $301.2 million.
Dayforce recurring revenue grew by 29.0% year-over-year, amounting to $194.3 million.
Cloud revenue increased by 25.5% year-over-year, totaling $262.9 million.
Adjusted net income was $33.0 million, or $0.21 per share.
Revenue by Segment
Forward Guidance
Ceridian provided guidance for the third quarter of 2022 and updated its full-year 2022 outlook. The outlook reflects a revised average U.S. dollar to Canadian dollar foreign exchange rate of $1.29. Dayforce recurring revenue, cloud revenue, total revenue and Adjusted EBITDA are expected to increase.
Positive Outlook
- Dayforce recurring revenue, excluding float revenue, of $188 million to $190 million or an increase of 23% to 24% on a GAAP basis, and 24% to 26% on a constant currency basis.
- Cloud revenue of $269 million to $272 million, or an increase of 22% to 24% on a GAAP basis and 24% to 26% on a constant currency basis.
- Total revenue of $304 million to $307 million, or an increase of 18% to 19% on a GAAP basis and 20% to 21% on a constant currency basis.
- Float revenue of $17.5 million, an increase of 77% on a GAAP basis, and 79% on a constant currency basis.
- Adjusted EBITDA of $48 million to $50 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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