Financial Performance - Total revenue for the year ended December 31, 2024, was $119,792,000, a slight increase of 0.6% compared to $119,082,000 in 2023[230]. - Recurring revenue increased to $114,471,000 in 2024, up 14.7% from $99,734,000 in 2023[230]. - Net loss for 2024 was $11,773,000, compared to a net loss of $9,214,000 in 2023, representing a 27.7% increase in losses[230]. - Total current assets decreased to $237,277,000 in 2024 from $267,220,000 in 2023, a decline of 11.2%[229]. - Cash and cash equivalents at the end of 2024 were $21,425,000, down from $30,317,000 in 2023, a decrease of 29.4%[229]. - Total liabilities decreased to $239,323,000 in 2024 from $252,213,000 in 2023, a reduction of 5.1%[229]. - Total stockholders' equity increased to $197,315,000 in 2024 from $191,655,000 in 2023, an increase of 2.8%[229]. - Operating expenses rose to $92,844,000 in 2024, up from $88,536,000 in 2023, an increase of 4.1%[230]. - Cash flows from operating activities provided $9,388,000 in 2024, a decrease from $18,900,000 in 2023[234]. - Total cash, cash equivalents, restricted cash, and restricted cash equivalents decreased from $177,622 million in 2023 to $145,712 million in 2024, a decline of approximately 18%[236]. - Cash paid for income taxes significantly reduced from $432 million in 2023 to $18 million in 2024, a decrease of about 96%[236]. - Basic loss per share for the year ended December 31, 2024, was $(0.45), compared to $(0.42) in 2023[344]. Acquisitions and Investments - Asure Software plans to continue acquiring businesses from Reseller Partners, which may pose integration challenges and affect financial results[16]. - The company acquired substantially all assets of an applicant tracking technology company for a total purchase price of $15,162, which included $7,900 in cash, a $3,000 promissory note, and shares valued at $4,262[280]. - The purchase consideration allocated $2,700 to customer relationships and $3,200 to developed technology, with the remaining $8,713 allocated to goodwill[281]. - The company completed eleven customer relationship asset acquisitions in 2024 for a total purchase price of $14,049, including $5,842 in cash paid during the year[284]. - The company completed two customer relationship asset acquisitions post-December 31, 2024, for a total purchase price of $7,801,000[347]. - The company issued 1,025,000 shares for acquisitions in 2024, contributing to an increase in additional paid-in capital to $504,849,000[231]. Revenue Recognition and Deferred Revenue - Revenue from maintenance/support is recognized ratably over the non-cancellable term of the support agreement, typically one to three years[268]. - Revenue from professional services is recognized on a proportional performance basis as the service is provided[267]. - The company recognizes contract liabilities, or deferred revenue, for amounts invoiced to customers in excess of recognized revenue, primarily ranging from one to five years[273]. - Revenue recognized from deferred revenue was $6,626 for 2024, down from $7,488 in 2023[309]. - Approximately $79,095 of revenue is expected to be recognized from remaining performance obligations, with 32% expected to be recognized over the next 12 months[310]. - The company finalized various multi-year arrangements, increasing deferred revenue balances as of December 31, 2024, compared to 2023[311]. Market and Operational Risks - Asure Software reported a material weakness in internal control over financial reporting, which may lead to future misstatements in financial statements[16]. - The company has a history of losses and cannot guarantee future profitability[16]. - The expiration of Employee Retention Tax Credits regulations is expected to adversely impact revenues in 2024 and 2025[18]. - The company is exposed to various market risks, including interest rate and foreign exchange risks, and has not used derivative instruments to mitigate these risks[19]. - Significant costs are incurred due to operating as a public company, which may affect financial condition and management focus[18]. - Client funds held in trust are subject to market and liquidity risks, which could materially affect financial results[18]. - The company relies on third-party data centers and computing infrastructure, and any disruptions could adversely impact operations[16]. - Asure Software's ability to maintain competitive advantage may be impaired if proprietary rights are not adequately protected[18]. - The markets in which Asure operates are highly competitive, and failure to compete effectively could adversely affect operating results[18]. Legal and Regulatory Environment - There were no material legal proceedings against the company as of December 31, 2024, indicating a stable legal environment for operations[245]. - The company filed a universal shelf registration statement for up to $150,000 in securities, effective April 19, 2024[317]. Tax and Deferred Tax Assets - The provision for income taxes attributable to continuing operations for 2024 was $933,000, significantly higher than $109,000 in 2023[335]. - Deferred tax assets totaled $26,467,000 in 2024, up from $23,420,000 in 2023, while total deferred tax liabilities increased to $10,582,000 from $9,039,000[336]. - The valuation allowance against net deferred tax assets increased by $2,388,000 during the year ended December 31, 2024[338]. Research and Development - Asure Software, Inc. continues to invest in research and development to expand its Human Capital Management (HCM) solutions, addressing HR complexity and enhancing employee productivity[240]. - The company operates a single reportable segment primarily deriving revenue from payroll services in the United States[243]. - Asure HCM suite includes seven product lines, enhancing efficiencies and providing value-added solutions to employers and employees[240]. - The company has adopted new accounting standards for segment reporting, effective for fiscal years beginning after December 15, 2023, which will enhance reportable disclosures[247].

Revenue Performance - Full Year 2024 revenues reached $119.8 million, with recurring revenues growing 15% year-over-year[1] - Recurring revenues accounted for 96% of total revenues, up from 84% in the prior year[6] - Fourth Quarter 2024 revenue was $30.8 million, a 17% increase year-over-year, and 22% growth when excluding ERTC revenue[5] - Total revenue for the twelve months ended December 31, 2024, was $119,792,000, a slight increase from $119,082,000 in 2023, with recurring revenue rising to $114,471,000 from $99,734,000[38] - Revenue for Q4-24 was $30,792,000, an increase of 5.1% from Q3-24's $29,304,000[47] - Revenue guidance for Q1 2025 is projected between $33.0 million and $35.0 million, and for FY 2025 between $134.0 million and $138.0 million[9] Profitability and Loss - Net loss for Full Year 2024 was $11.8 million, compared to a net loss of $9.2 million in the prior year[5] - Adjusted EBITDA for Full Year 2024 was $22.5 million, down from $23.3 million in the prior year[5] - The company reported a gross profit of $82.1 million for Full Year 2024, down from $85.5 million in the prior year[5] - The net loss for the twelve months ended December 31, 2024, was $11,773,000, compared to a net loss of $9,214,000 in 2023, indicating a worsening financial performance[38] - GAAP net loss for Q4-24 was $(3,204,000), an improvement from $(3,901,000) in Q3-24[47] - Adjusted EBITDA for Q4-24 was $6,229,000, with an adjusted EBITDA margin of 20.2%[47] Cash Flow and Financial Position - Cash and cash equivalents decreased to $21,425,000 as of December 31, 2024, down from $30,317,000 in 2023[36] - Net cash provided by operating activities decreased to $9,388 thousand in 2024 from $18,900 thousand in 2023, a decline of about 50.3%[41] - Total cash, cash equivalents, restricted cash, and restricted cash equivalents at the end of 2024 was $145,712 thousand, down from $177,622 thousand in 2023, reflecting a decrease of approximately 17.9%[43] - The cash balance at the beginning of the period was $177,622 thousand, which decreased to $145,712 thousand by the end of the period, indicating a net decrease of $31,910 thousand[41] - The company experienced a net change in client fund obligations of $(26,342) thousand in 2024, compared to a net increase of $13,931 thousand in 2023, reflecting a significant shift in client fund management[41] Expenses and Liabilities - Operating expenses for the twelve months ended December 31, 2024, totaled $92,844,000, up from $88,536,000 in 2023, driven by increased costs in general and administrative expenses[38] - Research and development expenses for Q4-24 totaled $2,103,000, up from $1,973,000 in Q3-24[47] - Sales and marketing expenses for Q4-24 were $6,945,000, compared to $6,680,000 in Q3-24[47] - General and administrative expenses for Q4-24 amounted to $9,940,000, a decrease from $10,378,000 in Q3-24[47] - Total current liabilities decreased to $223,636,000 in 2024 from $241,340,000 in 2023, indicating improved short-term financial health[36] Strategic Initiatives - The company signed a multi-year agreement in January 2025 to resell Payroll and Payroll Tax Management solutions[5] - Introduction of Luna, an advanced AI agent for payroll and HR management, was announced[5] - Management emphasized a solid foundation for growth in 2025, focusing on both organic and inorganic expansion[7] - The company plans to continue focusing on enhancing its Software-as-a-Service model and addressing regulatory challenges in the upcoming fiscal year[34] Asset Management - The company's total assets decreased to $436,638,000 as of December 31, 2024, from $443,868,000 in 2023[36] - The company's goodwill increased to $94,724,000 in 2024 from $86,011,000 in 2023, suggesting potential acquisitions or increased valuation of existing assets[36] - Acquisition of intangible assets in 2024 amounted to $5,338 thousand, a substantial increase from $357 thousand in 2023[43]

Reports Full Year 2024 Revenues of $119.8 million Full Year 2024 Recurring Revenues Grew 15% from Prior Year Recurring Revenues Grew to 96% of Total Revenues from 84% in the Prior Year AUSTIN, Texas, March 06, 2025 (GLOBE NEWSWIRE) -- Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today reported results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 ...

Core Insights - Grupo Aeroportuario del Sureste (ASUR) reported a total passenger traffic of 5.6 million in February 2024, reflecting a year-over-year decrease of 2.6% compared to February 2023 [1][3] Passenger Traffic Summary - Passenger traffic in Puerto Rico increased by 8.6%, driven by a 19.2% rise in international traffic and a 7.5% increase in domestic traffic [2][4] - Colombia experienced a 3.3% increase in passenger traffic, with international traffic up by 11.3% and domestic traffic rising by 1.1% [2][4] - In Mexico, total passenger traffic decreased by 7.5%, with international traffic down by 10.6% and domestic traffic declining by 2.9% [2][4] Year-to-Date Performance - Year-to-date figures for February 2025 show a total traffic of 12,053,858, which is a slight decrease of 0.3% compared to the previous year [4] - Domestic traffic year-to-date increased by 2.8%, while international traffic saw a decline of 4.5% [4] Detailed Traffic Breakdown - In Mexico, February 2025 domestic traffic was 1,375,440, down 2.9% from the previous year, while international traffic was 1,952,825, down 10.6% [4][5] - San Juan, Puerto Rico, reported domestic traffic of 956,531, an increase of 7.5%, and international traffic of 112,385, up 19.2% [5] - Colombia's domestic traffic reached 946,659, a 1.1% increase, while international traffic was 283,772, reflecting an 11.3% rise [5] Company Overview - ASUR operates 16 airports across the Americas, including nine in southeast Mexico and six in northern Colombia, with a significant presence in the Caribbean [6] - The company is also a 60% joint venture partner in Aerostar Airport Holdings, which operates Luis Muñoz Marín International Airport in San Juan, Puerto Rico [6]

Passenger Traffic Declined 0.3%, with Puerto Rico and Colombia Up 9.6% and 14.1%, Respectively while Traffic in Mexico Declined 8.0%MEXICO CITY, Feb. 24, 2025 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR) (ASUR), a leading international airport group with operations in Mexico, the U.S., and Colombia, today announced results for the three-and twelve-month periods ended December 31, 2024.4Q24 Highlights1 Total passenger traffic declined 0.3% year-over-year ("YoY"). By ...

Core Points - Asure Software, Inc. will hold a conference call on March 6, 2025, at 4:30 p.m. Eastern time to discuss its financial results for Q4 and full year 2024 [1] - The call will be hosted by Asure's Chairman and CEO Pat Goepel and CFO John Pence, followed by a Q&A session [2] - The conference call will also be available via webcast on Asure's investor relations website, with a replay option [3] Company Overview - Asure Software provides cloud-based Human Capital Management (HCM) software solutions aimed at streamlining HCM processes for organizations of all sizes [4] - The company's HCM solutions include HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management [4] - Asure incorporates AI technology in its HR compliance services to enhance scalability and efficiency while focusing on client interactions [4]

Core Insights - Asure has launched Luna, an advanced AI Agent aimed at enhancing payroll and HR management, distinguishing itself from traditional generative AI chatbots by taking actionable steps on behalf of employees and administrators [1][2]. Product Features - Luna assists employees in navigating HR and payroll updates, simplifying processes such as updating personal details and benefits elections, thereby reducing administrative burdens [2][3]. - The AI agent guides employees through necessary changes during life events, such as marriage, ensuring all relevant updates are made efficiently across payroll and HR systems [3]. Business Impact - Luna is designed to help businesses remain compliant with evolving regulations while minimizing the administrative workload on HR teams, allowing them to focus on strategic initiatives that promote business growth [4]. - The introduction of Luna is expected to enhance the employee experience, streamline operations, reduce compliance risks, and save time for businesses [5]. Company Overview - Asure provides cloud-based Human Capital Management (HCM) software solutions that assist organizations in streamlining their HCM processes, including HR, payroll, and benefits administration [5].

Core Insights - Asure has launched Luna, an advanced AI Agent aimed at enhancing payroll and HR management, distinguishing itself from traditional generative AI chatbots by taking actionable steps on behalf of employees and administrators [1][2][4] Group 1: Product Features - Luna assists employees in navigating HR and payroll updates, simplifying processes such as updating personal details and benefits elections during life changes [2][3] - The AI agent minimizes the administrative burden on HR teams by allowing employees to manage their HR needs through simple voice or text commands [4] Group 2: Business Impact - By streamlining payroll and HR processes, Luna helps businesses remain compliant with evolving regulations and allows HR teams to focus on strategic initiatives that drive growth [4][5] - The introduction of Luna is expected to enhance the employee experience while reducing compliance risks and saving time for businesses [5] Group 3: Company Overview - Asure provides cloud-based Human Capital Management (HCM) software solutions that help organizations of all sizes streamline their HCM processes, including HR, payroll, and benefits administration [5]

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