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Jun 30, 2023
Paycom Q2 2023 Earnings Report
Reported strong revenue growth and margin expansion driven by increasing demand for its differentiated HR and payroll solution.
Key Takeaways
Paycom Software, Inc. announced its financial results for the quarter ended June 30, 2023, with total revenues of $401 million, a 27% increase from the prior year period. GAAP net income was $65 million, or $1.11 per diluted share, while non-GAAP net income was $94 million, or $1.62 per diluted share. Adjusted EBITDA was $157 million, representing 39% of total revenues.
Total revenues of $401.1 million, a 26.6% increase compared to the same period last year.
Recurring revenues of $394.5 million, a 26.6% increase year-over-year, constituting 98.4% of total revenues.
GAAP net income was $64.5 million, or $1.11 per diluted share, compared to $57.4 million, or $0.99 per diluted share, in the same period last year.
Adjusted EBITDA was $156.6 million, compared to $119.6 million in the same period last year.
Revenue by Segment
Forward Guidance
Paycom provides the following expected financial guidance for the quarter ending September 30, 2023 and the year ending December 31, 2023.
Positive Outlook
- Total Revenues in the range of $410 million to $412 million for the quarter ending September 30, 2023.
- Adjusted EBITDA in the range of $156 million to $158 million for the quarter ending September 30, 2023.
- Total Revenues in the range of $1.715 billion to $1.717 billion for the year ending December 31, 2023.
- Adjusted EBITDA in the range of $722 million to $724 million for the year ending December 31, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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