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Sep 30, 2021
Paycom Q3 2021 Earnings Report
Paycom's Q3 2021 results reflected strong growth driven by investments in product innovation, sales, marketing, and service.
Key Takeaways
Paycom reported strong third-quarter results with total revenues of $256.2 million, a 30.4% increase year-over-year. GAAP net income was $30.4 million, or $0.52 per diluted share, while non-GAAP net income was $53.6 million, or $0.92 per diluted share. Adjusted EBITDA was $89.7 million, representing 35.0% of total revenues.
Total revenues reached $256.2 million, representing a 30.4% increase compared to the same period last year.
Recurring revenues increased 30.4% year-over-year, constituting 98.1% of total revenues.
GAAP Net Income was $30.4 million, or $0.52 per diluted share.
Adjusted EBITDA was $89.7 million.
Paycom
Paycom
Paycom Revenue by Segment
Forward Guidance
Paycom provided financial guidance for the quarter and year ending December 31, 2021.
Positive Outlook
- Total Revenues in the range of $274.5 million to $276.5 million for the quarter ending December 31, 2021.
- Adjusted EBITDA in the range of $103 million to $105 million for the quarter ending December 31, 2021.
- Total Revenues in the range of $1.045 billion to $1.047 billion for the year ending December 31, 2021.
- Adjusted EBITDA in the range of $413 million to $415 million for the year ending December 31, 2021.