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Mar 31, 2024
Paycom Q1 2024 Earnings Report
Paycom reported first quarter results with revenue up 11% year-over-year and GAAP net income representing 49% of total revenues.
Key Takeaways
Paycom's first quarter 2024 results showed a revenue increase of 10.7% to $499.9 million. GAAP net income was $247.2 million, or $4.37 per diluted share, while non-GAAP net income was $146.6 million, or $2.59 per diluted share. Adjusted EBITDA was $229.5 million.
Total revenues increased by 10.7% year-over-year, reaching $499.9 million.
GAAP net income was $247.2 million, or $4.37 per diluted share.
Non-GAAP net income was $146.6 million, or $2.59 per diluted share.
Adjusted EBITDA totaled $229.5 million.
Revenue by Segment
Forward Guidance
Paycom provides financial guidance for the quarter ending June 30, 2024, and the year ending December 31, 2024.
Positive Outlook
- Total Revenues in the range of $434 million to $438 million for Q2 2024.
- Adjusted EBITDA in the range of $151 million to $155 million for Q2 2024.
- Total Revenues in the range of $1.860 billion to $1.885 billion for FY 2024.
- Adjusted EBITDA in the range of $720 million to $730 million for FY 2024.
- Focus on expanding solution automation capabilities.
Challenges Ahead
- Uncertainty regarding depreciation and amortization.
- Uncertainty regarding interest expense.
- Uncertainty regarding taxes.
- Uncertainty regarding non-cash stock-based compensation expense.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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