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Dec 31, 2023
Paycom Q4 2023 Earnings Report
Paycom's Q4 2023 results exceeded expectations, driven by product innovation and employee engagement.
Key Takeaways
Paycom Software, Inc. reported Q4 2023 revenues of $434.6 million, a 17.3% increase year-over-year. GAAP net income was $81.8 million, or $1.43 per diluted share, while adjusted EBITDA reached $176.6 million.
Total revenues increased by 17.3% year-over-year to $434.6 million.
Recurring revenues grew by 17.4% year-over-year, representing 98.3% of total revenues.
GAAP net income was $81.8 million, or $1.43 per diluted share.
Adjusted EBITDA reached $176.6 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, 2024 and the year ending December 31, 2024. Quarter Ending March 31, 2024: Total Revenues in the range of $494 million to $497 million. Adjusted EBITDA in the range of $218 million to $222 million. Year Ending December 31, 2024: Total Revenues in the range of $1.860 billion to $1.885 billion. Adjusted EBITDA in the range of $720 million to $730 million.