Paycom Q3 2022 Earnings Report
Key Takeaways
Paycom Software, Inc. reported strong third-quarter results with a 30% increase in total revenues to $334 million. GAAP net income was $52 million, or $0.90 per diluted share, while non-GAAP net income was $73 million, or $1.27 per diluted share. Adjusted EBITDA reached $126 million, representing 38% of total revenues.
Total revenues increased by 30.4% compared to the same period last year, reaching $334.2 million.
Recurring revenues grew by 30.6% to $328.2 million, constituting 98.2% of total revenues.
GAAP Net Income was $52.2 million, or $0.90 per diluted share, compared to $30.4 million, or $0.52 per diluted share, in the same period last year.
Adjusted EBITDA was $126.0 million, compared to $89.7 million in the same period last year.
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Paycom Revenue by Segment
Forward Guidance
Paycom provides the following expected financial guidance for the quarter and the year ending December 31, 2022.
Positive Outlook
- Total Revenues in the range of $366 million to $368 million for the quarter ending December 31, 2022.
- Adjusted EBITDA in the range of $144 million to $146 million for the quarter ending December 31, 2022.
- Total Revenues in the range of $1.371 billion to $1.373 billion for the year ending December 31, 2022.
- Adjusted EBITDA in the range of $560 million to $562 million for the year ending December 31, 2022.