damircudicAsure Software (NASDAQ:ASUR), founded in 1985 as Forgent Networks and headquartered in Texas, provides Human Capital Management (HCM) solutions like payroll, HR software, and benefits administration primarily to small and mid-sized businesses. They offer both software and outsourced services, catering to various client needs. I have covered ASUR twice before and made two buy recommendations for the stock in 2021 and 2023. Though my call in 2021 was proven right with over 50% return since publi ...

Asure Software Inc (ASUR) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post earnings of $0.06 per share when it actually produced earnings of $0.13, delivering a surprise of 116.67%.Over the last four quarters, the comp ...

Asure Software, Inc. (NASDAQ:ASUR) Q4 2023 Earnings Conference Call February 26, 2024 4:30 PM ET Company Participants Patrick McKillop - Vice President, Investor Relations Pat Goepel - Chairman & Chief Executive Officer John Pence - Chief Financial Officer Conference Call Participants Joshua Reilly - Needham & Company Jared Levine - TD Cowen Eric Martinuzzi - Lake Street Capital Richard Baldry - ROTH Capital Partners Jeff Van Rhee - Craig-Hallum Vincent Colicchio - Barrington Research Greg Gibas - Northland ...

Payroll & HR Solutions that help Businesses Grow Investor Presentation February 2024 (Under the Private Securities Litigation Reform Act of 1995) Safe Harbor Statement Forward Looking Statements This presentation contains certain statements made by management that may constitute “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements a ...

分组1 - Asure Software Inc reported quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.06 per share, and down from $0.17 per share a year ago, representing an earnings surprise of -50% [1] - The company posted revenues of $26.26 million for the quarter, missing the Zacks Consensus Estimate by 0.71%, and down from $29.29 million year-over-year [1] - Over the last four quarters, Asure Software has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [1] 分组2 - The stock has added about 4.5% since the beginning of the year, compared to the S&P 500's gain of 6.7% [2] - The current consensus EPS estimate for the coming quarter is $0.23 on revenues of $32.42 million, and for the current fiscal year, it is $0.66 on revenues of $119.6 million [4] - The Internet - Delivery Services industry, to which Asure Software belongs, is currently in the top 41% of Zacks industries, indicating a favorable outlook compared to the bottom 50% [5]

Financial Performance - Asure Software reported a comprehensive loss for the year ended December 31, 2023, amounting to $10 million, compared to a loss of $8 million in 2022, indicating a 25% increase in losses year-over-year [225]. - The company generated revenue of $50 million in 2023, reflecting a 15% increase from $43.5 million in 2022, driven by growth in tax processing services and HCM solutions [225]. - Total revenue for Q4 2023 reached $119,082 million, a 24.2% increase from $95,828 million in Q4 2022 [232]. - Recurring revenue was $99,734 million, up from $86,222 million, reflecting a growth of 15.5% year-over-year [232]. - Gross profit for the quarter was $85,537 million, compared to $62,510 million in the same quarter last year, marking a 37.0% increase [232]. - The net loss for Q4 2023 was $9,214 million, an improvement from a net loss of $14,466 million in Q4 2022 [232]. - Net loss for the year ended December 31, 2023, was $9,214 thousand, an improvement from a net loss of $14,466 thousand in 2022, representing a 36.5% reduction [238]. - Basic and diluted loss per share improved to $(0.42) from $(0.72) year-over-year [232]. Client and Market Growth - Asure Software's client retention rate improved to 85% in 2023, up from 80% in 2022, highlighting enhanced customer satisfaction and service delivery [225]. - The company anticipates revenue growth of 10-15% for the fiscal year 2024, supported by new product launches and market expansion strategies [225]. - The company plans to expand its market presence by entering two new states in 2024, which is expected to contribute an additional $2 million in revenue [225]. - The company aims to expand its cloud-based Human Capital Management (HCM) solutions targeting small and medium-sized businesses (SMBs) in less densely populated U.S. metropolitan areas [243]. Investment and Research - Asure Software is investing $5 million in research and development for new features in its HCM platform, aiming to enhance user experience and compliance with evolving regulations [225]. - The company plans to continue investing in research and development to enhance its product offerings and improve operational efficiency [244]. - The company capitalized $7,027 thousand in software development costs in 2023, up from $4,228 thousand in 2022, indicating a 66% increase in investment in software development [294]. Financial Position and Assets - Total assets increased to $443,868 million as of December 31, 2023, compared to $419,908 million a year earlier [231]. - Total liabilities decreased to $252,213 million from $274,842 million, indicating a reduction in overall debt [231]. - Stockholders' equity rose to $191,655 million, up from $145,066 million, reflecting a strong capital position [231]. - The company held $219,075 million in funds for clients, an increase from $203,588 million in the previous year [231]. - Total cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of 2023 amounted to $177,622 thousand, up from $164,042 thousand at the end of 2022, indicating an 8.5% increase [240]. Expenses and Liabilities - Operating expenses totaled $88,536 million, an increase from $73,817 million, primarily driven by higher sales and marketing costs [232]. - Payments of notes payable surged to $35,627 thousand in 2023 from $1,688 thousand in 2022, reflecting a substantial increase of 2015.5% [238]. - The company recorded advertising expenses of $1.792 million for the year ended December 31, 2023, compared to $1.057 million for the previous year, reflecting a year-over-year increase of approximately 69.5% [271]. - The company reported accumulated depreciation and amortization expenses of $5,094 thousand for the year ended December 31, 2023, compared to $4,044 thousand in 2022, reflecting a 26% increase [293]. Acquisitions and Strategic Moves - The company has identified potential acquisition targets that could enhance its service offerings and market share, with a focus on integration capabilities [225]. - The company acquired certain assets of a Reseller Partner for a total purchase price of $8.391 million, consisting of $6.891 million in cash and a promissory note of $1.500 million [277]. - On February 22, 2024, the company closed a strategic acquisition for certain assets of a payroll processing and benefits brokerage servicer for a total consideration of $6,000 million [354]. Tax and Regulatory Matters - As of December 31, 2023, the company had federal net operating loss carryforwards of $49,240 million and research and development credit carryforwards of $4,180 million [345]. - The valuation allowance against net deferred tax assets increased by $3,281 million during the year ended December 31, 2023, primarily due to operations [346]. - The company recognized $649 million of unrecognized tax benefits as of December 31, 2023, with $28 million potentially affecting the effective tax rate if recognized [349]. Stock and Compensation - Total compensation expense for stock-based awards was $5,430 in 2023, up from $3,179 in 2022, representing a 71% increase [329]. - The company completed a firm commitment offering of 3,333 shares at a public offering price of $12.00 per share, realizing net proceeds of $37,395 [323]. - The stock repurchase plan was amended to authorize the purchase of up to $10,000 in shares, with a maximum of $1,500 per calendar quarter [325].

The Zacks Internet - Delivery Services industry participants like GoDaddy (GDDY) , MakeMyTrip (MMYT) , QuinStreet (QNST) and Asure Software (ASUR) have been benefiting from the reopening of economies, with their business activities reaching pre-pandemic levels. Additionally, a greater Internet presence in emerging markets, a burgeoning affluent middle class and the accelerated uptake of smartphones are set to aid Internet – Delivery Services industry participants. Online delivery is yet to expand beyond maj ...

Core Insights - Asure Software has formed a strategic partnership with Key Benefit Administrators to deliver the Proactive Health Management Plan (PHMP) to its clients, enhancing access to comprehensive health programs and services [1][2] - The collaboration aims to transform employee health and reduce costs for both employers and employees, providing health management tools at no net cost to businesses [1][2] Company Overview - Asure Software is a leading provider of cloud-based Human Capital Management (HCM) solutions, offering services such as payroll, time & attendance, talent management, and HR management [4] - Key Benefit Administrators is a major Third-Party Administrator in the U.S., serving over 2.8 million members and focusing on innovative solutions to manage healthcare costs while improving employee health [5] Partnership Details - The PHMP includes services like telemedicine, biometric and DNA screenings, health risk assessments, and access to health professionals, aimed at proactively managing employee health and reducing medical claims [2] - Both companies emphasize that this partnership sets a new standard for employee health benefits, benefiting both employers and employees [2]

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