Paycom's Q4 2020 results showed strong revenue growth, driven by its differentiated employee usage strategy. The company is well-positioned to reach $1 billion in revenue in 2021.
Total revenues increased by 14.2% compared to the same period last year.
Recurring revenues increased by 14.0% and constituted 98.1% of total revenues.
GAAP Net Income was $24.4 million, or $0.42 per diluted share.
Adjusted EBITDA was $84.2 million, compared to $78.6 million in the same period last year.
Paycom provided financial guidance for the quarter ending March 31, 2021 and the year ending December 31, 2021.
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