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Dec 31, 2021
Paycom Q4 2021 Earnings Report
Paycom delivered a strong Q4 2021, driven by outstanding execution and robust demand.
Key Takeaways
Paycom's Q4 2021 revenues reached $285.0 million, a 29.0% increase year-over-year. GAAP net income was $48.7 million, or $0.84 per diluted share, and adjusted EBITDA was $109.6 million.
Total revenues increased by 29.0% year-over-year to $285.0 million.
Recurring revenues grew by 29.2% to $280.0 million, representing 98.3% of total revenues.
GAAP net income was $48.7 million, or $0.84 per diluted share.
Adjusted EBITDA was $109.6 million.
Paycom
Paycom
Paycom Revenue by Segment
Revenue by Segment
Recurring and Other Revenues Revenue
CapyFin.com Forward Guidance
Paycom provides the following expected financial guidance for the quarter ending March 31, 2022 and the year ending December 31, 2022:
Positive Outlook
- Total Revenues in the range of $342 million to $344 million for the quarter ending March 31, 2022.
- Adjusted EBITDA in the range of $161 million to $163 million for the quarter ending March 31, 2022.
- Total Revenues in the range of $1.314 billion to $1.316 billion for the year ending December 31, 2022.
- Adjusted EBITDA in the range of $524 million to $526 million for the year ending December 31, 2022.
- Expect sales process to include a combination of virtual and in-person meetings.
Challenges Ahead
- Headcount fluctuations at clients impacts recurring revenue.
- Lower average interest rates had a negative effect on interest earned on funds held for clients.
- It is not possible at this time to estimate the full impact that the pandemic could continue to have on our business and results of operations.
- Uncertainty regarding depreciation and amortization, interest expense, taxes, non-cash stock-based compensation expense, change in fair value of our interest rate swap and other items.
- Uncertainty regarding cost of revenues, including non-cash stock-based compensation expense.