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Dec 31, 2021
Dayforce Q4 2021 Earnings Report
Ceridian reported strong momentum and performance with Dayforce recurring revenue, excluding float revenue, growing by 32% in the fourth quarter.
Key Takeaways
Ceridian's total revenue for the fourth quarter of 2021 was $282.1 million, up 26.6% year-over-year. Dayforce recurring revenue, excluding float revenue, increased by 32%.
Total revenue increased by 26.6% year-over-year.
Dayforce recurring revenue, excluding float revenue, grew by 32%.
Cloud revenue increased by 24.5% year-over-year.
5,434 Dayforce customers are live on the Dayforce platform as of December 31, 2021, an increase of 10.8%.
Revenue by Segment
Forward Guidance
Ceridian is issuing the following guidance for the full year and first quarter of 2022. Full Year 2022 Guidance: Dayforce recurring revenue, excluding float revenue, of $751 million to $762 million. Total revenue of $1,192 million to $1,217 million. Adjusted EBITDA of $180 million to $195 million.
Positive Outlook
- Dayforce recurring revenue, excluding float revenue, of $751 million to $762 million, or an increase of 26% to 28% on both a GAAP basis and a constant currency basis.
- Cloud revenue of $1,054 million to $1,075 million, or an increase of 21% to 23% on both a GAAP basis and a constant currency basis.
- Total revenue of $1,192 million to $1,217 million, or an increase of 16% to 19% on a GAAP basis and 17% to 19% on a constant currency basis.
- Adjusted EBITDA of $180 million to $195 million.
- Dayforce recurring revenue, excluding float revenue, of $177 million to $180 million, or an increase of 29% to 31% on both a GAAP basis and a constant currency basis.
Challenges Ahead
- Foreign Exchange
- COVID-19 pandemic
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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