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].

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AUSTIN, Texas, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Asure Software (NASDAQ:ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, is pleased to announce a strategic partnership with Key Benefit Administrators (KBA), one of the largest Third-Party Administrators in the nation. This collaboration aims to deliver the innovative Proactive Health Management Plan (PHMP) to Asure's client base, enhancing their access to proven, patented, and comprehensive population health program ...

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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 ...

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 June 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Sec ...