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Sep 30, 2021
Dayforce Q3 2021 Earnings Report
Ceridian's Q3 2021 results demonstrated strong performance across key business metrics, surpassing guidance for Dayforce recurring revenue, total revenue, and adjusted EBITDA.
Key Takeaways
Ceridian reported a strong third quarter with total revenue of $257.2 million, a 25.8% increase year-over-year. Dayforce recurring revenue grew by 30.6% to $160.3 million, and the company updated its full year 2021 guidance for Dayforce recurring revenue.
Total revenue increased by 25.8% to $257.2 million.
Dayforce recurring revenue grew by 30.6% to $160.3 million.
Cloud revenue increased by 24.3% to $219.6 million.
5,227 Dayforce customers were live on the Dayforce platform as of September 30, 2021, an increase of 11%.
Dayforce
Dayforce
Dayforce Revenue by Segment
Forward Guidance
Ceridian updated its guidance for the fourth quarter and for the full year 2021.
Positive Outlook
- Dayforce recurring revenue, excluding float revenue, of $596 million to $598 million, or an increase of 29% on a GAAP basis and approximately 27% on a constant currency basis
- Dayforce recurring revenue of $626 million to $628 million, or an increase of approximately 25% to 26% on a GAAP basis and 23% to 24% on a constant currency basis
- Dayforce revenue of $781 million to $784 million, or an increase of 20% to 21% on a GAAP basis and 18% to 19% on a constant currency basis
- Cloud revenue of $867 million to $871 million, or an increase of 19% on a GAAP basis and 16% to 17% on a constant currency basis
- Total revenue of $1,014 million to $1,019 million, or an increase of 20% to 21% on a GAAP basis and 18% to 19% on a constant currency basis
Revenue & Expenses
Visualization of income flow from segment revenue to net income