Exhibit 99.1 press release Paylocity Announces Third Quarter Fiscal Year 2024 Financial Results Adjusted EBITDA: • Adjusted EBITDA, a non-GAAP measure, was $167.9 million in the third quarter of fiscal year 2024 compared to $130.7 million in the third quarter of fiscal year 2023. SCHAUMBURG, IL. – May 2, 2024 – Paylocity Holding Corporation (Nasdaq: PCTY), a leading provider of cloud-based HCM and payroll software solutions, today announced financial results for the third quarter of fiscal year 2024, which ...

Revenue Growth - Total revenues increased from $273.0 million for the three months ended December 31, 2022 to $326.4 million for the three months ended December 31, 2023, representing a 20% year-over-year increase [85]. - Total revenues increased from $526.3 million for the six months ended December 31, 2022 to $643.9 million for the six months ended December 31, 2023, representing a 22% year-over-year increase [85]. - Total revenues for the three months ended December 31, 2023, increased by $53.4 million, or 20%, to $326.4 million compared to $273.0 million for the same period in 2022 [108]. - Recurring and other revenue for the three months ended December 31, 2023, rose by $42.0 million, or 16%, to $298.4 million from $256.4 million for the same period in 2022 [112]. - Recurring and other revenue for the six months ended December 31, 2023, increased by $88.3 million, or 18%, to $590.1 million from $501.8 million for the same period in 2022 [123]. Profitability Metrics - Adjusted Gross Profit for the three months ended December 31, 2023 was $237.1 million, up from $197.6 million in the same period of 2022 [90]. - Adjusted EBITDA for the three months ended December 31, 2023 was $112.6 million, compared to $77.4 million for the same period in 2022, reflecting a 45% increase [91]. - Operating income for the three months ended December 31, 2023, increased by $31.5 million, or 173%, to $49.7 million compared to $18.2 million for the same period in 2022 [108]. - Net income for the three months ended December 31, 2023, increased by $22.5 million, or 144%, to $38.1 million from $15.6 million for the same period in 2022 [108]. Expenses - Research and development expenses increased from $52.9 million for the three months ended December 31, 2022 to $64.6 million for the same period in 2023 [104]. - Sales and marketing expenses are expected to increase in absolute dollars as the company grows its sales organization and expands marketing activities [101]. - Total operating expenses for the three months ended December 31, 2023, increased by $4.5 million, or 3%, to $169.3 million from $164.7 million for the same period in 2022 [108]. - Cost of revenues for the three months ended December 31, 2023, increased by $17.3 million, or 19%, to $107.4 million from $90.1 million for the same period in 2022 [115]. - General and administrative expenses decreased by $5.2 million, or 5%, to $93.3 million for the six months ended December 31, 2023, from $98.5 million in the prior year [130]. Cash Flow and Financial Position - Net cash provided by operating activities was $137.2 million for the six months ended December 31, 2023, up from $78.8 million in the same period of 2022 [144]. - Net cash used in investing activities decreased to $62.2 million for the six months ended December 31, 2023, from $132.2 million in the prior year [145]. - Net cash provided by financing activities was $629.9 million for the six months ended December 31, 2023, compared to a net cash used of $993.9 million in the same period of 2022 [147]. - As of December 31, 2023, the company had $366.9 million in cash and cash equivalents and $3,271.7 million in funds held for clients [154]. Tax and Interest Rates - The effective tax rate increased to 28.8% for the three months ended December 31, 2023, compared to 14.3% for the same period in 2022 [121]. - The effective tax rate for the six months ended December 31, 2023, was 25.8%, compared to (82.9)% for the same period in 2022 [132]. - Interest income on funds held for clients is expected to benefit from rising interest rates and higher average daily balances due to the addition of new clients [85]. - Interest income on funds held for clients for the three months ended December 31, 2023, increased by $11.4 million, or 69%, to $27.9 million from $16.6 million for the same period in 2022 [113]. Company Strategy and Risks - The company plans to continue investing in research and development to broaden product offerings and extend technological leadership [104]. - The company anticipates gaining economies of scale and increased operating leverage as it grows its client base and related revenues [82]. - The company does not believe inflation has materially affected its business, but significant inflationary pressures could harm its financial condition [158]. - The company is exposed to market risks primarily related to interest rates and general economic conditions in the United States [152]. - The company does not intend to use derivatives to mitigate interest rate exposure [153]. Internal Controls and Compliance - There were no changes to internal control over financial reporting that materially affected the company during the three-month period covered by the report [162]. - Disclosure controls and procedures were evaluated as effective as of December 31, 2023 [161]. - The company's investment policy focuses on generating higher yields while preserving liquidity and capital [154].

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $326.4 million, representing a 20% increase year-over-year, with recurring and other revenue growing by 16% to $298.4 million [13][28] - Adjusted gross profit margin was 72.7%, reflecting a focus on scaling operational costs while maintaining service levels [28] - Adjusted EBITDA for Q2 was $112.6 million, with a margin of 34.5%, exceeding guidance by $9.6 million and showing a 620 basis point improvement year-over-year [31][36] - The company ended the quarter with cash and cash equivalents of $366.9 million and no debt [32] Business Line Data and Key Metrics Changes - The company continues to invest in R&D, with a year-over-year increase of 27% in total R&D investment compared to Q2 of fiscal 2023 [29] - Sales and marketing expenses on a non-GAAP basis were 21.3% of revenue, down from 23.7% in the same period last year [30] Market Data and Key Metrics Changes - Year-over-year employee growth on the platform was below expectations, contributing to a headwind for Q2 results and fiscal 2024 guidance [34] - The average daily balance of client-held funds was $2.4 billion in Q2, expected to rise to approximately $2.9 billion in Q3 [32][33] Company Strategy and Development Direction - The company is focusing on product innovation, including the acquisition of Trace to enhance headcount planning capabilities [7] - There is a commitment to driving higher go-to-market productivity and execution, particularly in the upper end of the target market [25] - The company has been recognized for its strong culture and diversity, being named to Newsweek's America's Greatest Workplaces for Diversity in 2024 [26] Management's Comments on Operating Environment and Future Outlook - The macro environment has become increasingly challenging, with moderated employment levels impacting results and guidance [6] - Management remains confident in the sales team's ability to drive product differentiation and growth in the upmarket pipeline despite longer sales cycles [24][56] - Updated guidance reflects expectations of continued moderation in client workforce levels through the remainder of the fiscal year [34] Other Important Information - The company has been awarded for its technology and employee engagement, indicating strong market recognition [15] - The Trace acquisition is not expected to materially impact revenue or margins in fiscal 2024 [7][109] Q&A Session Summary Question: Impact of employee growth on platform - Management noted that current customers are not experiencing the typical growth in employee numbers, which has been factored into guidance [39] Question: Salesforce performance and economic impact - Management indicated that both economic factors and execution challenges have contributed to revised guidance [50] Question: Churn rates among smaller customers - Management stated that churn rates for customers under 50 employees remain consistent with historical trends, with no significant changes noted [53] Question: Changes in sales cycles and execution - Management acknowledged that sales cycles have lengthened, attributing this to both macroeconomic conditions and the need for improved execution [56][96] Question: Guidance confidence for Q3 - Management expressed confidence in Q3 guidance, having accounted for January starts and form revenue trends [108] Question: Trace acquisition revenue contribution - The Trace acquisition is expected to have an immaterial impact on revenue for the year [109] Question: Employment trends and future expectations - Management anticipates continued moderation in employment levels, which has been factored into guidance [34][95]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ________________________________________________________________________ Form 10-Q ________________________________________________________________________ x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Com ...

Financial Data and Key Metrics Changes - Total revenue for Q1 was $317.6 million, representing a 25% increase year-over-year, with recurring and other revenues up 19% from the same period last year [83][119] - Adjusted gross profit margin improved to 73.4% for Q1 compared to 72.1% in Q1 of the previous year, indicating 130 basis points of leverage [119] - Adjusted EBITDA for Q1 was $104.9 million, or a 33% margin, exceeding the top end of guidance by $12.4 million and representing nearly 700 basis points of leverage versus Q1 of fiscal 2023 [120] Business Line Data and Key Metrics Changes - The average daily balance of client-held funds was approximately $2.3 billion in Q1, with an estimated increase to $2.4 billion to $2.5 billion in Q2, yielding approximately 435 basis points [9][121] - The company reported a PEPY (per employee per year) opportunity of 550, with a target of reaching 600 as new product offerings are developed [5] Market Data and Key Metrics Changes - The demand environment for new business remains solid, although year-over-year employee growth on the platform was below expectations for Q1, presenting a headwind for the quarter and the fiscal year [121][149] - The referral channel contributed over 25% of new business in Q1, indicating strong market engagement [118] Company Strategy and Development Direction - The company continues to focus on innovation, recently launching new products such as Rewards & Recognition and Employee Voice, aimed at enhancing employee engagement and retention [89][116] - The management emphasized the importance of maintaining a modern software suite to provide efficiency to clients, especially in a potentially tightening market [42] Management's Comments on Operating Environment and Future Outlook - Management noted a slight softness in workforce levels year-over-year but expressed confidence in the overall demand environment and the company's positioning for growth [15][25] - The company has maintained its guidance for the full fiscal year, factoring in the observed trends and early insights from Q1 [134][151] Other Important Information - The company reported a year-over-year increase of 21% in total R&D investment, reflecting a commitment to enhancing the Paylocity platform [92] - The company ended the quarter with cash and cash equivalents of $305 million and no debt outstanding, indicating a strong balance sheet [93] Q&A Session Summary Question: Follow-up on seat count expectations - Management indicated that workforce levels are slightly up year-over-year, but sequentially down in two of the three months in the quarter [11][24] Question: Sales headcount growth intentions for FY '24 - Management confirmed that sales headcount was up 18% and most hiring occurs in the spring, with a strong talent pool in place [31][45] Question: Changes in buyer behavior and demand levels - Management noted no significant changes in buyer behavior, with a consistent sales pipeline and strong engagement from existing clients [109][140] Question: Impact of economic conditions on business strategy - Management expressed confidence in selling through down markets, emphasizing the value proposition of efficiency offered by their modern platform [42][152] Question: Customer reaction to new product announcements - Initial feedback from clients regarding new product launches has been positive, indicating strong market interest [60][148]

Table of Contents Commission File Number 001-36348 __________________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ FORM 10-K __________________________________________________ x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

Paylocity Holding Corporation (NASDAQ:PCTY) Q4 2023 Earnings Conference Call August 3, 2023 5:30 PM ET Company Participants Ryan Glenn - CFO & Treasurer Steven Beauchamp - Co-CEO & Director Toby Williams - President, Co-CEO & Director Conference Call Participants Brad Reback - Stifel, Nicolaus & Company Sheldon McMeans - Barclays Bank Bryan Bergin - TD Cowen Terrell Tillman - Truist Securities Aleksandr Zukin - Wolfe Research Jason Celino - KeyBanc Capital Markets Mark Marcon - Robert W. Baird & Co. Owen Ho ...

Financial Performance - Total revenues increased from $246.0 million for the three months ended March 31, 2022, to $339.9 million for the same period in 2023, representing a 38% year-over-year increase [85]. - Total revenues for the nine months ended March 31, 2023, reached $866.1 million, up from $623.7 million for the same period in 2022, marking a 39% year-over-year increase [86]. - Adjusted Gross Profit for the three months ended March 31, 2023, was $258.3 million, compared to $179.8 million for the same period in 2022, reflecting a 44% increase [91]. - Adjusted EBITDA for the three months ended March 31, 2023, was $130.7 million, up from $85.7 million for the same period in 2022, indicating a 52% increase [92]. - Net income for the three months ended March 31, 2023, increased by $22.8 million, or 65%, to $57.6 million from $34.8 million for the same period in 2022 [108]. - Gross profit margin improved from 69% for the three months ended March 31, 2022, to 72% for the same period in 2023 [115]. - Gross margin improved from 66% to 69% for the nine months ended March 31, 2023, driven by total revenue growth and improved operating leverage [126]. Revenue Composition - Recurring revenue accounted for 92% of total revenues for the three months ended March 31, 2023, compared to 100% for the same period in 2022 [95]. - Recurring and other revenue for the three months ended March 31, 2023, increased by $69.2 million, or 28%, to $314.2 million from $245.0 million for the same period in 2022 [112]. - Interest income on funds held for clients for the three months ended March 31, 2023, increased by $24.7 million, or 2,448%, to $25.7 million from $1.0 million for the same period in 2022 [113]. Expenses and Investments - Sales and marketing expenses are anticipated to increase in absolute dollars as the company expands its sales organization and marketing activities [101]. - Research and development expenses for the three months ended March 31, 2023, increased by $16.7 million, or 65%, to $42.3 million from $25.7 million for the same period in 2022 [117]. - Sales and marketing expenses for the three months ended March 31, 2023, increased by $21.3 million, or 40%, to $74.1 million from $52.8 million for the same period in 2022 [116]. - General and administrative expenses for the three months ended March 31, 2023, increased by $2.7 million, or 6%, to $47.4 million from $44.6 million for the same period in 2022 [119]. - Total operating expenses for the three months ended March 31, 2023, increased by $40.7 million, or 33%, to $163.8 million from $123.1 million for the same period in 2022 [108]. Cash Flow and Capital Structure - Net cash provided by operating activities was $206.1 million for the nine months ended March 31, 2023, up from $105.4 million in the same period of 2022 [143]. - Net cash used in investing activities increased to $298.8 million for the nine months ended March 31, 2023, compared to $281.4 million for the same period in 2022 [144]. - The company had $233.7 million in cash and cash equivalents as of March 31, 2023, with no amounts drawn on its revolving credit facility [136]. - The company has a revolving credit facility of $550.0 million, which can be increased to $825.0 million, with no amounts drawn as of March 31, 2023 [156]. - Capital expenditures were $8.8 million for the nine months ended March 31, 2023, down from $15.4 million for the same period in 2022 [148]. Tax and Regulatory Matters - The effective tax rate increased from 26.0% for the three months ended March 31, 2022, to 29.3% for the same period in 2023 [121]. - The effective tax rate decreased from (16.4)% in 2022 to 2.9% in 2023, primarily due to excess tax benefits from employee stock-based compensation and research and development tax credits [131]. Market Risks and Economic Conditions - The company is exposed to market risks primarily related to interest rates and general economic conditions in the United States [151]. - The company does not believe inflation has materially affected its business, but significant inflationary pressures could harm its financial condition [157]. - An immediate 100-basis point increase in interest rates would decrease the market value of available-for-sale securities by $5.9 million [155]. Internal Controls and Governance - The company’s disclosure controls and procedures were evaluated as effective as of March 31, 2023 [160]. - There were no changes to the internal control over financial reporting that materially affected its effectiveness during the reporting period [161].

Paylocity Holding Corporation (NASDAQ:PCTY) Q3 2023 Earnings Conference Call May 4, 2023 5:30 PM ET Company Participants Ryan Glenn – Chief Financial Officer Steve Beauchamp – Co-Chief Executive Officer Toby Williams – President and Co-Chief Executive Officer Conference Call Participants Scott Berg – Needham and Co Joe Meares – Truist Brad Reback – Stifel Bryan Bergin – Cowen Mark Marcon – Baird Alex Zukin – Wolfe Research Samad Samana – Jefferies Jason Celino – KeyBanc Capital Markets Robert Simmons – D.A. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ________________________________________________________________________ Form 10-Q ________________________________________________________________________ x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 31, 2022 o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Comm ...