21 Positioned for Long-Term Growth & Margin Expansion • Creating the most modern HCM platform • Increasing average revenue per client • Growing client base • Strong client retention () paylocity Forward Together. Q3 Fiscal 2024 Investor Presentation This presentation is proprietary and is intended solely for the information of the persons to whom it is presented. It may not be retained, reproduced or distributed, in whole or in part, by any means (including electronic) without the prior written consent of P ...

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. ...