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Jun 30, 2022
Paycom Q2 2022 Earnings Report
Paycom's Q2 2022 results showcased strong financial performance, with revenue growth and profitability.
Key Takeaways
Paycom reported strong second-quarter results, with total revenues of $317 million, a 31% increase year-over-year. GAAP net income was $57 million, or $0.99 per diluted share, while non-GAAP net income reached $73 million, or $1.26 per diluted share. Adjusted EBITDA was $120 million, representing 38% of total revenues.
Total revenues reached $317 million, up 31% year-over-year.
Recurring revenues increased by 31.1% and constituted 98.3% of total revenues.
GAAP net income was $57 million, or $0.99 per diluted share.
Adjusted EBITDA was $120 million, representing 38% of total revenues.
Revenue by Segment
Forward Guidance
Paycom provided financial guidance for the quarter ending September 30, 2022, and the year ending December 31, 2022.
Positive Outlook
- Total Revenues in the range of $327 million to $329 million for the quarter ending September 30, 2022.
- Adjusted EBITDA in the range of $117 million to $119 million for the quarter ending September 30, 2022.
- Total Revenues in the range of $1.354 billion to $1.356 billion for the year ending December 31, 2022.
- Adjusted EBITDA in the range of $546 million to $548 million for the year ending December 31, 2022.
- Management refers to a forward-looking estimate of implied revenue growth rate plus adjusted EBITDA margin, or the “Rule of 65.”
Challenges Ahead
- The forward-looking adjusted EBITDA ranges presented above have not been reconciled to net income.
- The forward-looking adjusted EBITDA margins discussed on the teleconference call have not been reconciled to net income margin.
- Applicable information for future periods, on which these reconciliations would be based, is not readily available due to uncertainty regarding depreciation and amortization, interest expense, taxes, non-cash stock-based compensation expense, change in fair value of our interest rate swap and other items.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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