Paycom Q3 2023 Earnings Report
Key Takeaways
Paycom Software, Inc. reported a revenue of $406.3 million for the third quarter of 2023, representing a 21.6% increase compared to the same period last year. GAAP net income was $75.2 million, or $1.30 per diluted share, while non-GAAP net income was $102.4 million, or $1.77 per diluted share. Adjusted EBITDA was $165.6 million.
Total revenues reached $406.3 million, a 21.6% increase year-over-year.
Recurring revenues were $398.8 million, comprising 98.1% of total revenues.
GAAP net income amounted to $75.2 million, or $1.30 per diluted share.
Adjusted EBITDA totaled $165.6 million.
Paycom
Paycom
Paycom Revenue by Segment
Forward Guidance
Paycom provides the following expected financial guidance for the quarter and the year ending December 31, 2023. Quarter Ending December 31, 2023: Total Revenues in the range of $420 million to $425 million. Adjusted EBITDA in the range of $169 million to $174 million. Year Ending December 31, 2023: Total Revenues in the range of $1.679 billion to $1.684 billion. Adjusted EBITDA in the range of $712 million to $717 million.
Positive Outlook
- Total Revenues in the range of $420 million to $425 million for the quarter ending December 31, 2023.
- Adjusted EBITDA in the range of $169 million to $174 million for the quarter ending December 31, 2023.
- Total Revenues in the range of $1.679 billion to $1.684 billion for the year ending December 31, 2023.
- Adjusted EBITDA in the range of $712 million to $717 million for the year ending December 31, 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income