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Dec 31, 2019
Dayforce Q4 2019 Earnings Report
Ceridian's Q4 2019 earnings were released, revealing strong growth in Dayforce revenue and recurring services gross margin.
Key Takeaways
Ceridian reported a 35.4% increase in Dayforce revenue, reaching $158.7 million, and a 30.2% increase in Dayforce recurring revenue, amounting to $114.3 million. The company ended the year with 4,363 live Dayforce customers. Net loss was $1.5 million for the quarter.
Dayforce revenue increased by 35.4% to $158.7 million.
Dayforce recurring revenue grew by 30.2% to $114.3 million.
Recurring services gross margin improved to 70.1%.
Live Dayforce customers reached 4,363.
Dayforce
Dayforce
Dayforce Revenue by Segment
Revenue by Segment
Dayforce recurring Revenue
CapyFin.comPowerpay recurring Revenue
CapyFin.comOther recurring Revenue
CapyFin.comProfessional services Revenue
CapyFin.com Forward Guidance
Ceridian provided guidance for the full year 2020 and first quarter 2020, anticipating continued growth in Dayforce and Cloud revenues, while also factoring in investments for future growth.
Positive Outlook
- Dayforce revenue of $708 million to $713 million, or an increase of approximately 24% to 25%.
- Cloud revenue of $800 million to $805 million, or an increase of approximately 21% to 22%.
- Total revenue of $903 million to $908 million, or an increase of approximately 10%.
- Dayforce revenue of $166 million to $168 million, or an increase of approximately 25% to 27% for Q1 2020.
- Cloud revenue of $188 million to $190 million, or an increase of approximately 22% to 23% for Q1 2020.
Challenges Ahead
- Adjusted EBITDA is expected to be $185 million to $190 million, or an increase of 0% to 3%.
- Adjusted EBITDA of $47 million to $49 million, or a decline of approximately 2% to 6% for Q1 2020.
- Float revenue of approximately $50 million within Dayforce revenue.
- Float revenue of approximately $62 million within Cloud revenue.
- Total revenue of $221 million to $223 million, or an increase of approximately 8% to 9% for Q1 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income