AUSTIN, Texas, May 21, 2024 (GLOBE NEWSWIRE) -- Asure (NASDAQ: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, is pleased to announce that Vidya Sagar Ravipati, Applied Science Manager at the Amazon Web Services (AWS) Generative AI Innovation Center, will be a guest speaker at its EVOLVE 2024 conference, June 4-7 in Austin, TX. Exclusively designed for Asure Reseller partners, EVOLVE offers a blend of strategic insights and practical sessions aimed at helping HCM ...

AUSTIN, Texas, May 14, 2024 (GLOBE NEWSWIRE) -- Asure, a leading provider of cloud-based Human Capital Management (HCM) software solutions, proudly announces the commemoration of a significant milestone: the 100th episode of its small business podcast, "Mission to Grow." This achievement marks a testament to Asure's commitment to empowering small businesses with valuable insights and strategies for success. The 100th episode of "Mission to Grow" features a discussion on the new FLSA overtime threshold, a ti ...

AUSTIN, Texas, May 08, 2024 (GLOBE NEWSWIRE) -- Asure Software, Inc. (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, is scheduled to participate at the following financial conferences during May and June 2024: 19th Annual Needham Technology, Media and Consumer ConferenceDate: Wednesday, May 15, 2024Format: In Person 1x1 MeetingsLocation: New York, NY Jefferies HCM Summit Date: Thursday, May 16, 2024Format: In Person 1x1 MeetingsLocation: New York, NY 21 ...

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.Desp ...

Asure Software, Inc. (NASDAQ:ASUR) Q1 2024 Earnings Conference Call May 2, 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 Bryan Bergin - TD Cowen Richard Baldry - ROTH MKM Jeff Van Rhee - Craig-Hallum Capital Group Vincent Colicchio - Barrington Research Eric Martinuzz ...

Payroll & HR Solutions that help Businesses Grow Investor Presentation May 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 about our financial results may include expected or projected U. ...

Exhibit 99.1 Asure Announces First Quarter 2024 Results Reports First Quarter Revenues of $31.7 Million Management Reiterates 2024 Revenue Guidance of $125.0 Million - $129.0 Million AUSTIN, TX – May 2, 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 first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Recent Business Highlight ...

Revenue Performance - For the three months ended March 31, 2024, total revenue was $31,652, a decrease of $1,412, or 4%, compared to $33,064 for the same period in 2023[94]. - Recurring revenue for the same period was $30,273, an increase of $2,317, or 8%, from $27,956 in the prior year, primarily driven by increased HR compliance revenue and interest earned on client-held funds[99]. - Professional services, hardware, and other revenue decreased by $3,729, or 73%, to $1,379, primarily due to a decline in non-recurring Employee Retention Tax Credits (ERTC) revenue[100]. - Recurring revenue represented over 95% of total revenue for the three months ended March 31, 2024, compared to 84% for the same period in 2023[93]. Profitability and Expenses - Gross profit margin for the three months ended March 31, 2024, was 71%, down from 74% in the same period of 2023[92]. - Total operating expenses as a percentage of revenue increased to 73% for the three months ended March 31, 2024, compared to 68% in the prior year[92]. - Consolidated gross profit for Q1 2024 was $22,607, a decrease of $1,793, or 7%, from $24,400 in Q1 2023, with gross margin declining to 71% from 74%[102]. - Sales and marketing expenses increased by $567, or 8%, to $7,767 in Q1 2024, representing 25% of revenue compared to 22% in Q1 2023[103]. - General and administrative expenses rose by $107, or 1%, to $10,063 in Q1 2024, accounting for 32% of revenue, up from 30% in Q1 2023[105]. - Research and development expenses decreased by $210, or 11%, to $1,769 in Q1 2024, maintaining 6% of revenue[106]. - Amortization expense increased by $147, or 4%, to $3,449 in Q1 2024, with amortization as a percentage of revenue rising to 11% from 10%[110]. Financial Position - The company incurred a net loss of $308, or $0.01 per share, in Q1 2024, compared to a net income of $339, or $0.02 per share, in Q1 2023[114]. - Working capital decreased by $1,840 to $24,040 as of March 31, 2024, including $3,547 of short-term deferred revenue[114]. - Net cash used in operating activities was $3,947 in Q1 2024, compared to net cash provided of $4,588 in Q1 2023[115]. Strategic Initiatives - The company acquired assets from a payroll processing and benefits brokerage servicer for $6,000 on February 22, 2024, and from another reseller partner for $3,000 on April 30, 2024[90][91]. - The company continues to focus on expanding its client base, particularly in less densely populated U.S. metropolitan areas[89]. - The company anticipates that revenue will continue to exhibit seasonal patterns related to ACA form filings, with higher revenues typically in the first and fourth quarters[97]. - The company is investing in research and development to enhance its HCM solutions and reduce administrative burdens for employers[89]. - The company plans to enhance products using RPA and AI, aiming for broader market opportunities and improved integration across solutions[107]. Interest and Financing - Interest income for Q1 2024 was $336, down from $349 in Q1 2023, while interest expense significantly decreased to $180 from $2,293[111].

Core Insights - Asure has formed a strategic partnership with HRlogics to enhance access to tax credits and hiring incentives for its clients, particularly small to midsize businesses [1][2] - The partnership aims to help clients navigate over 3,000 state and federal tax credits, which are often underutilized, thereby improving their financial health and growth potential [1][2] - The Work Opportunity Tax Credit (WOTC) is highlighted as a key incentive to encourage hiring from underrepresented groups [2] Company Overview - Asure specializes in cloud-based Human Capital Management (HCM) software solutions, offering services such as HR, payroll, time and attendance, benefits administration, and payroll tax management [4] - HRlogics focuses on maximizing profitability for businesses through federal, state, and local tax credits and incentives, having facilitated over $3 billion in tax savings [5] Market Impact - The partnership is positioned as a significant advancement for small and midsize businesses, enabling them to reinvest in growth, create job opportunities, and contribute to economic development [3] - The collaboration is particularly relevant in the context of rising interest rates and tight lending standards, which pose challenges for capital access [1]

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