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Mar 31, 2020
Paycom Q1 2020 Earnings Report
Reported excellent first quarter results with continued success onboarding new clients.
Key Takeaways
Paycom Software, Inc. reported first quarter revenues of $242.4 million, a 21% increase year-over-year. GAAP net income was $63.0 million, or $1.08 per diluted share, while adjusted EBITDA was $117.9 million, or 49% of total revenues.
Total revenues of $242.4 million, a 21% increase compared to the same period last year.
GAAP Net Income was $63.0 million, or $1.08 per diluted share.
Adjusted EBITDA was $117.9 million.
The company withdrew its previously issued full-year 2020 guidance due to macroeconomic uncertainties.
Revenue by Segment
Forward Guidance
Paycom is withdrawing its previously issued full-year 2020 guidance in light of macroeconomic uncertainties, particularly unemployment, arising from the current COVID-19 crisis. The company plans to return to providing quarterly and full-year guidance once they have more visibility into the effects of the COVID-19 pandemic on the economy, specifically as unemployment numbers become more predictable.
Positive Outlook
- Our solution allows clients to seamlessly manage and communicate with their remote workforces.
- Our solution allows clients to seamlessly manage and communicate with their remote workforces.
- We have temporarily halted business-related travel.
- We have temporarily halted business-related travel.
- Our large market opportunity, profitable recurring business and attractive value proposition will help us mitigate the impact of headcount reductions across our client base
Challenges Ahead
- The COVID-19 pandemic has resulted in, and may continue to result in, headcount reductions across our client base.
- The COVID-19 pandemic has resulted in, and may continue to result in, headcount reductions across our client base.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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