Loading...
•
Jun 30, 2024
Paycom Q2 2024 Earnings Report
Paycom's Q2 2024 financial results were reported, with revenue up 9% year-over-year. GAAP net income was $68 million, or $1.20 per diluted share, while non-GAAP net income was $92 million, or $1.62 per diluted share. Adjusted EBITDA was $160 million, representing 36% of total revenues.
Key Takeaways
Paycom reported a 9% increase in revenue for Q2 2024, reaching $438 million. GAAP net income was $68 million, and adjusted EBITDA was $160 million. The company's outside sales team delivered solid performance with robust new logo additions.
Total revenues increased by 9.1% to $437.5 million compared to the same period last year.
Recurring revenues grew by 9.1% to $430.4 million, constituting 98.4% of total revenues.
GAAP Net Income was $68.0 million, or $1.20 per diluted share.
Adjusted EBITDA was $159.7 million.
Paycom
Paycom
Paycom Revenue by Segment
Revenue by Segment
Recurring and Other Revenues Revenue
CapyFin.comInterest on Funds Held for Clients Revenue
CapyFin.com Forward Guidance
Paycom provides financial guidance for the quarter ending September 30, 2024, and the year ending December 31, 2024.
Positive Outlook
- Total Revenues in the range of $444 million to $449 million for the quarter ending September 30, 2024.
- Adjusted EBITDA in the range of $155 million to $159 million for the quarter ending September 30, 2024.
- Total Revenues in the range of $1.860 billion to $1.875 billion for the year ending December 31, 2024.
- Adjusted EBITDA in the range of $727 million to $737 million for the year ending December 31, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income