Asure Software, Inc. (NASDAQ:ASUR) Q2 2024 Results Conference Call August 1, 2024 4:30 PM ET Company Participants Patrick McKillop - Vice President, Investor Relations Pat Goepel - Chairman & Chief Executive Officer John Pence - Chief Financial Officer Eyal Goldstein - President & Chief Revenue Officer Conference Call Participants Joshua Reilly - Needham & Company Jared Levine - TD Cowen Eric Martinuzzi - Lake Street Capital Jeff Van Rhee - Craig Hallum Capital Group Vincent Colicchio - Barrington Research ...

Asure Software Inc (ASUR) came out with quarterly earnings of $0.09 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -30.77%. A quarter ago, it was expected that this company would post earnings of $0.21 per share when it actually produced earnings of $0.21, delivering no surprise.Over the last four quarters, the company has s ...

Exhibit 99.1 Asure Announces Second Quarter 2024 Results Reports Second Quarter Revenues of $28 Million Recurring Revenues Grew 18% Versus Prior Year Second Quarter AUSTIN, TX – August 1, 2024 – 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 second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights • Revenue of $28 million, down $2.4 mil ...

Reports Second Quarter Revenues of $28 Million Recurring Revenues Grew 18% Versus Prior Year Second Quarter AUSTIN, Texas, Aug. 01, 2024 (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 second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Revenue of $28 million, down $2.4 million (8% year over year) owing to a $6.5 ...

Revenue Performance - For the six months ended June 30, 2024, recurring revenue was $57,324, an increase of $6,408, or 13%, compared to $50,916 for the same period in 2023[98]. - Recurring revenue for the three months ended June 30, 2024, was $27,051, an increase of $4,091, or 18%, from $22,960 for the same period in 2023[98]. - Total revenue for the six months ended June 30, 2024, was $59,696, a decrease of $3,788, or 6%, from $63,484 for the same period in 2023[94]. - Recurring revenue represented over 96% of total revenue for the six months ended June 30, 2024, compared to 80% for the same period in 2023[93]. - The company expects revenue to increase as it introduces new applications and expands its client base[93]. Profitability and Expenses - Gross profit margin for the six months ended June 30, 2024, was 69%, down from 73% in the same period of 2023[92]. - Total operating expenses for the six months ended June 30, 2024, represented 77% of total revenue, compared to 72% in the same period of 2023[92]. - Consolidated gross profit for the three months ended June 30, 2024, was $18,868, a decrease of $3,150, or 14%, from $22,018 for the same period in 2023, with gross profit as a percentage of revenue dropping to 67% from 72%[103]. - Sales and marketing expenses for the three months ended June 30, 2024, were $6,924, a decrease of $1,591, or 19%, from $8,515 for the same period in 2023, with expenses as a percentage of revenue decreasing to 25% from 28%[105]. - Research and development expenses for the three months ended June 30, 2024, were $1,962, an increase of $637, or 48%, from $1,325 for the same period in 2023, with R&D expenses as a percentage of revenue increasing to 7% from 4%[110]. - Amortization expense for the three months ended June 30, 2024, was $4,046, an increase of $752, or 23%, from $3,294 for the same period in 2023, with amortization as a percentage of revenue rising to 14% from 11%[112]. Net Loss and Working Capital - The company incurred a net loss of $4,360, or $0.17 per share, during the three months ended June 30, 2024, compared to a loss of $3,765, or $0.18 per share, during the same period in 2023, with loss as a percentage of total revenue increasing to 16% from 12%[117]. - Working capital decreased to $23,663 at June 30, 2024, down by $2,217 from $25,880 at December 31, 2023[118]. Cash Flow and Liquidity - Net cash used in operating activities for the six months ended June 30, 2024, was $1,719, primarily driven by changes in operating assets and liabilities[119]. - Net cash used in investing activities for the six months ended June 30, 2024, was $7,359, primarily due to purchases of available-for-sale securities and software capitalization costs[120]. - As of June 30, 2024, the company's principal sources of liquidity included approximately $20,736 of cash and cash equivalents[122]. - The company believes it has sufficient liquidity to support business operations for at least the next twelve months[123]. - Future business demands may lead to cash utilization at levels greater than recently experienced or expected[123]. - The company may need to raise additional capital in the future to grow existing software operations and seek strategic acquisitions[123]. Acquisitions - The company acquired assets of an applicant tracking technology company for $15,250, including $8,000 in cash and 525 shares of common stock valued at $4,250[90]. - The company acquired assets of a payroll processing and benefits brokerage servicer for $6,000, including $500 in cash and 450 shares of common stock valued at $4,500[91]. Market Risks - There have been no material changes to the company's exposure from market risks as disclosed in the 2023 Annual Report[126].

Persistent macroeconomic uncertainties, protracted inflationary conditions and still-high interest rates are challenges for many players within the Zacks Internet - Delivery Services industry. Moreover, elevated operating expenses related to hiring new employees, and sales and marketing strategies to capture more market share are likely to strain margins in the near term. Additionally, as expansion into newer markets will take some time to generate volumes, higher upfront costs might erode profitability.Des ...

Passenger Traffic Increased 2.8% YoYMEXICO CITY, July 23, 2024 /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 six-month periods ended June 30, 2024.2Q24 Highlights1Total passenger traffic increased 2.8% year-over-year ("YoY"). By country of operations, passenger traffic presented the following YoY variations:Mexico: declined 4.7%, ...

AUSTIN, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Asure (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, announced today that it has signed a strategic partnership agreement with MyHRScreens, a premier provider of background screening services. This collaboration aims to expand access to comprehensive background screening solutions to small and mid-sized businesses, facilitating a safer and more efficient hiring process. Through this partnership, Asure will ...

AUSTIN, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- Asure (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, announced today that it has signed a strategic partnership agreement with MyHRScreens, a premier provider of background screening services. This collaboration aims to expand access to comprehensive background screening solutions to small and mid-sized businesses, facilitating a safer and more efficient hiring process. Through this partnership, Asure will ...

Passenger traffic increased year-on-year by 24.5% in Colombia and 11.6% in Puerto Rico, and declined 5.5% in MexicoMEXICO CITY, July 8, 2024 /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 that passenger traffic for June 2024 reached a total of 6.1 million passengers, representing an increase of 3.8% compared to June 2023.Passenger traffic presented year-on-y ...