Loading...
•
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%.
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 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
- Inability to manage its growth effectively or execute on its growth strategy
- Its failure to provide new or enhanced functionality and features
- Significant competition in the market in which its solutions compete
Revenue & Expenses
Visualization of income flow from segment revenue to net income