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Jun 30, 2020
Paycom Q2 2020 Earnings Report
Paycom's Q2 2020 financial results reflected a 7% increase in total revenues and strong performance in new business, positioning the company well for long-term growth.
Key Takeaways
Paycom reported a 7% increase in total revenues to $181.6 million for the second quarter of 2020. GAAP net income was $28.6 million, or $0.49 per diluted share, while non-GAAP net income was $35.9 million, or $0.62 per diluted share. Adjusted EBITDA was $61.2 million, representing 33.7% of total revenues.
Total revenues increased by 7% to $181.6 million compared to the same period last year.
Recurring revenues grew by 7% to $178.0 million, constituting 98% of total revenues.
GAAP net income was $28.6 million, or $0.49 per diluted share.
Adjusted EBITDA was $61.2 million, representing 33.7% of total revenues.
Revenue by Segment
Forward Guidance
Paycom expects total revenues in the range of $191.0 million to $193.0 million and adjusted EBITDA in the range of $56.0 million to $58.0 million for the quarter ending September 30, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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