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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Asure Software, Inc. (NASDAQ:ASUR) Q3 2023 Earnings Conference Call November 13, 2023 4:30 PM ET Company Participants Patrick McKillop - Vice President of Investor Relations Pat Goepel - Chairman and Chief Executive Officer John Pence - Chief Financial Officer Conference Call Participants Joshua Riley - Needham & Company Bryan Bergin - TD Cowen Richard Baldry - ROTH MKM Brad Reback - Stifel Nicolaus Jeff Van Rhee - Craig-Hallum Eric Martinuzzi - Lake Street Vincent Colicchio - Barrington Research Greg Gibas ...

Payroll & HR Solutions that help Businesses Grow Investor Presentation November 2023 Safe Harbor Statement (Under the Private Securities Litigation Reform Act of 1995) ForwardLooking Statements Thispresentationcontains certainstatements madebymanagement that mayconstitute“forward-looking”statementswithinthemeaning ofthesafeharbo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value ASUR The Nasdaq Capital Market Series A Junior Participating Preferred Share Purchase Rights N/A Emerging growth company ☐ FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of th ...

Asure Software, Inc. (NASDAQ:ASUR) Q2 2023 Results Conference Call August 7, 2023 4:30 PM ET Company Participants Pat Goepel - Chairman and Chief Executive Officer John Pence - Chief Financial Officer Randal Rudniski - Head of Investor Relations Conference Call Participants Bryan Bergin - TD Cowen Eric Martinuzzi - Lake Street Richard Baldry - Roth Capital Partners Josh Riley - Needham and Company Jeff Van Rhee - Craig-Hallum Capital Group Vincent Colicchio - Barrington Research Greg Gibas - Northland Secur ...

PART I. FINANCIAL INFORMATION This section presents the unaudited financial statements and management's analysis of financial condition [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited financial statements show total assets decreased to **$401.0 million** and net loss improved to **$3.4 million** [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$401.0 million** by June 2023, driven by reduced client funds, with equity slightly up Condensed Consolidated Balance Sheets (in thousands) | Account | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $228,853 | $243,276 | | **Total assets** | $401,018 | $419,908 | | **Total current liabilities** | $215,270 | $235,183 | | **Total liabilities** | $254,204 | $274,842 | | **Total stockholders' equity** | $146,814 | $145,066 | [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Revenue increased **50%** in Q2 and **42%** for six months, with net loss significantly narrowing in both periods Financial Performance for the Three Months Ended June 30 (in thousands) | Metric | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | $30,420 | $20,300 | 50% | | Gross Profit | $22,018 | $12,261 | 80% | | (Loss) from operations | $(1,452) | $(5,848) | 75% | | Net Loss | $(3,765) | $(5,860) | 36% | | Diluted Loss Per Share | $(0.18) | $(0.29) | 38% | Financial Performance for the Six Months Ended June 30 (in thousands) | Metric | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | $63,484 | $44,633 | 42% | | Gross Profit | $46,418 | $27,725 | 67% | | Income from operations | $511 | $(8,019) | N/A | | Net Loss | $(3,426) | $(8,877) | 61% | | Diluted Loss Per Share | $(0.17) | $(0.44) | 61% | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to **$146.8 million** by June 2023, driven by stock issuances and compensation, despite a net loss - Key changes in stockholders' equity for the six months ended June 30, 2023 include a net loss of **$3.4 million**, share-based compensation of **$2.9 million**, and **$2.3 million** in proceeds from stock issuances[16](index=16&type=chunk)[77](index=77&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow was **$6.1 million**, with significant cash used in investing and financing activities Net Cash Flow for the Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $6,096 | $7,481 | | Net cash used in investing activities | $(17,266) | $(21,570) | | Net cash used in financing activities | $(15,602) | $(32,524) | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail HCM business, stable goodwill, and subsequent events like contingent consideration settlement and credit facility amendment - The company provides cloud-based Human Capital Management (HCM) software solutions for small and medium-sized businesses (SMBs), including payroll, tax, HR compliance, and time & attendance[26](index=26&type=chunk) - As of June 30, 2023, Goodwill remained unchanged at **$86.0 million**, and net intangible assets were **$60.6 million**[52](index=52&type=chunk)[54](index=54&type=chunk) - In July 2023, the company settled an outstanding contingent purchase consideration of **$2.3 million** by issuing **214,000 shares** of common stock[81](index=81&type=chunk) - On August 7, 2023, the company amended its Senior Credit Facility and settled the Final Payment Fee for **$1.7 million** in cash[82](index=82&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses **42%** revenue growth, improved gross margin, increased operating expenses, and sufficient liquidity for the next twelve months [Overview](index=21&type=section&id=Overview) Asure provides cloud-based HCM solutions to over **100,000 SMBs** across the U.S., targeting less densely populated metropolitan areas - The company's solutions serve more than **100,000 SMBs**, with about **15,000 direct clients** and **85,000 indirect clients** via Reseller Partners[88](index=88&type=chunk) - Asure targets less densely populated U.S. metropolitan cities where competitive presence is lower[27](index=27&type=chunk)[88](index=88&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Total revenue grew **42%** to **$63.5 million**, driven by recurring and professional services, improving gross margin to **73%** and narrowing net loss Revenue by Source - Six Months Ended June 30 (in thousands) | Revenue Type | 2023 | 2022 | Variance ($) | Variance (%) | | :--- | :--- | :--- | :--- | :--- | | Recurring | $50,916 | $42,018 | $8,898 | 21% | | Professional services, hardware and other | $12,568 | $2,615 | $9,953 | 381% | | **Total** | **$63,484** | **$44,633** | **$18,851** | **42%** | - The significant increase in professional services revenue was primarily due to growth in non-recurring ERTC revenues, which are expected to wind down as the program expires in 2025[100](index=100&type=chunk) - Gross margin for the six months ended June 30, 2023, increased to **73%** from **62%** in the prior year, attributed to higher revenue and operational efficiencies[103](index=103&type=chunk) - The company plans to continue enhancing its products by leveraging Robotic Process Automation (RPA) and artificial intelligence (AI)[109](index=109&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) Working capital was **$13.6 million** and cash **$21.6 million**, providing sufficient liquidity for twelve months, with potential need for future capital Liquidity Overview (in thousands) | Metric | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash, cash equivalents and restricted cash | $21,613 | $17,010 | | Working Capital | $13,583 | $8,093 | - Net cash provided by operating activities was **$6.1 million** for the first six months of 2023, compared to **$7.5 million** for the same period in 2022[117](index=117&type=chunk) - The company believes it has sufficient liquidity for at least the next twelve months but may need to raise additional capital for future growth or acquisitions[120](index=120&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to market risk exposure have occurred since the 2022 Annual Report on Form 10-K - There have been no material changes to the company's market risk exposure since the 2022 Annual Report on Form 10-K[122](index=122&type=chunk) [Item 4. Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of June 30, 2023, with no material changes in internal control over financial reporting - The CEO and CFO concluded that as of June 30, 2023, the company's disclosure controls and procedures were effective[123](index=123&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[124](index=124&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company was not a party to any material legal proceedings as of June 30, 2023 - The company reports no material legal proceedings as of June 30, 2023[126](index=126&type=chunk) [Item 1A. Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor highlights potential reputational harm and liability from flawed AI algorithms or biased data - A new risk factor was disclosed regarding the use of Artificial Intelligence (AI), noting that flawed algorithms or data could result in reputational harm or liability[127](index=127&type=chunk)[128](index=128&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=29&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In July 2023, **214,000 shares** were issued to settle a **$2.3 million** contingent purchase consideration from a 2020 acquisition - In July 2023, the company issued **214,000 shares** of common stock to extinguish a **$2,299,000** contingent purchase consideration from a 2020 acquisition[129](index=129&type=chunk) [Item 3. Defaults upon Senior Securities](index=29&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) No defaults upon senior securities were reported - No defaults upon senior securities were reported[129](index=129&type=chunk) [Item 4. Mine Safety Disclosures](index=29&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) No mine safety disclosures were reported - No mine safety disclosures were reported[129](index=129&type=chunk) [Item 5. Other Information](index=29&type=section&id=Item%205.%20Other%20Information) On August 7, 2023, the Senior Credit Facility was amended, and the **$1.7 million** Final Payment Fee was settled - On August 7, 2023, the company amended its Senior Credit Facility and settled the Final Payment Fee for **$1,677,000**[130](index=130&type=chunk) [Item 6. Exhibits](index=30&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including loan agreement amendments and certifications - Filed exhibits include Amendment No. 2 to the Loan and Security Agreement, Sarbanes-Oxley certifications, and Inline XBRL documents[133](index=133&type=chunk)

Asure Software, Inc. (NASDAQ:ASUR) Q1 2023 Earnings Conference Call May 8, 2023 4:30 PM ET Company Participants Randal Rudniski - Head, IR Patrick Goepel - Chairman and CEO John Pence - CFO Conference Call Participants Joshua Reilly - Needham & Company Bryan Bergin - Cowen and Company Eric Martinuzzi - Lake Street Capital Markets Jeff Van Rhee - Craig-Hallum Capital Group Greg Gibas - Northland Capital Markets Richard Baldry - ROTH MKM Vincent Colicchio - Barrington Research Associates Operator Good day lad ...

Revenue Growth - For the three months ended March 31, 2023, total revenue was $33,064, an increase of $8,731, or 36%, compared to $24,333 for the same period in 2022[92]. - Recurring revenue for the three months ended March 31, 2023 was $27,956, an increase of $4,952, or 22%, from $23,004 for the same period in 2022[97]. - Recurring revenue represented over 84% of total revenue for the three months ended March 31, 2023, compared to 94% for the same period in 2022[91]. Profitability - Gross profit for the three months ended March 31, 2023 was $24,400, an increase of $8,936, or 58%, from $15,464 for the same period in 2022, with a gross margin of 74% compared to 64% in 2022[99]. - Net income for Q1 2023 was $339, or $0.02 per share, compared to a loss of $3,017, or $0.15 per share, in Q1 2022, with income as a percentage of total revenues at 1% versus a loss of 12%[110]. Operating Expenses - Total operating expenses as a percentage of revenue decreased to 68% for the three months ended March 31, 2023, down from 72% in the same period in 2022[90]. - Selling and marketing expenses for Q1 2023 were $7,200, an increase of $2,303 or 47% from $4,897 in Q1 2022, representing 22% of revenue compared to 20% in the prior year[101]. - General and administrative expenses for Q1 2023 were $9,956, an increase of $2,471 or 33% from $7,485 in Q1 2022, accounting for 30% of revenue, down from 31%[102]. - Research and development expenses for Q1 2023 were $1,979, an increase of $158 or 9% from $1,821 in Q1 2022, representing 6% of revenue, down from 7%[103]. - Interest expense, net for Q1 2023 was $1,944, compared to $820 in Q1 2022, representing 6% of revenue versus 3%[107]. - Amortization expense for Q1 2023 was $3,302, a decrease of $130 or 4% from $3,432 in Q1 2022, accounting for 10% of revenue, down from 14%[106]. Cash Flow and Working Capital - Cash and cash equivalents as of March 31, 2023, were $21,438, up from $17,010 at December 31, 2022[110]. - Working capital increased to $14,191 as of March 31, 2023, up by $6,098 from $8,093 at December 31, 2022[110]. - Net cash provided by operating activities for Q1 2023 was $4,588, driven by non-cash adjustments of approximately $7,787, compared to $2,530 in Q1 2022[111]. - Net cash used in investing activities for Q1 2023 was $6,647, primarily due to purchases of available-for-sale securities[112]. Business Development - The company acquired certain assets of a reseller partner for a total purchase price of $2,350, which included $1,939 in cash and a promissory note of $411[87]. - Asure's solutions serve over 100,000 SMBs across the United States, with approximately 15,000 direct clients and 85,000 indirect clients through Reseller Partners[86]. - The company continues to invest in research and development to expand its solutions and enhance operational efficiencies[86]. - The company is actively exploring opportunities to acquire additional products or technologies to complement its current software and services[98]. Other Revenue Sources - Professional services, hardware, and other revenues increased by $3,779, or 284%, for the three months ended March 31, 2023, primarily due to growth in non-recurring Employee Retention Tax Credit (ERTC) revenue[97].