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Dec 31, 2022
Paycom Q4 2022 Earnings Report
Paycom's Q4 2022 results were released, showcasing revenue growth and strong profitability.
Key Takeaways
Paycom Software, Inc. reported Q4 2022 revenues of $370.6 million, a 30% increase year-over-year. GAAP net income was $80.0 million, or $1.38 per diluted share, while adjusted EBITDA was $163.9 million.
Total revenues increased by 30% year-over-year to $370.6 million.
Recurring revenues grew by 30% to $364.0 million, representing 98.2% of total revenues.
GAAP net income was $80.0 million, or $1.38 per diluted share.
Adjusted EBITDA reached $163.9 million.
Revenue by Segment
Forward Guidance
Paycom provides financial guidance for Q1 2023 and FY 2023.
Positive Outlook
- Q1 2023 Total Revenues are expected to be in the range of $443 million to $445 million.
- Q1 2023 Adjusted EBITDA is expected to be in the range of $210 million to $212 million.
- FY 2023 Total Revenues are expected to be in the range of $1.700 billion to $1.702 billion.
- FY 2023 Adjusted EBITDA is expected to be in the range of $700 million to $702 million.
- Company refers to a forward-looking estimate of our implied revenue growth rate plus adjusted EBITDA margin, or the “Rule of 65”.
Challenges Ahead
- The forward-looking adjusted EBITDA ranges presented have not been reconciled to net income.
- The forward-looking adjusted EBITDA margins discussed have not been reconciled to comparable GAAP measures.
- The forward looking non-GAAP effective income tax rate discussed on the teleconference call have not been reconciled to comparable GAAP measures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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