•
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
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