Company Overview - Paylocity Holding Corporation is a leading provider of cloud-based HR, payroll, and spend management software solutions headquartered in Schaumburg, IL [3] - Founded in 1997 and publicly traded since 2014, Paylocity offers an intuitive product suite designed to help businesses address contemporary challenges while preparing for future opportunities [3] - The company is recognized for its unique culture and has consistently been acknowledged as one of the best places to work [3] Upcoming Events - Paylocity has scheduled a conference call to review its second quarter fiscal 2025 results on February 6, 2025, at 4:30 pm Central Time (5:30 pm Eastern Time) [1] - A live webcast of the call will be available on the "Investor Relations" page of the company's website [2] - A press release highlighting the company's results will be issued prior to the conference call and will be accessible in the investor relations section of the website [2]

Paylocity (PCTY) , a leading cloud-based HR and payroll software solutions provider, has emerged as a compelling investment opportunity in 2025, with a 19.6% stock price appreciation over the past year. The company's strong market position, innovative AI initiatives and strategic expansion make it an attractive choice for investors looking for sustained growth in the HR technology sector.Robust Financial Performance and GrowthPaylocity has demonstrated impressive financial resilience, posting 14% year-over- ...

Paylocity Holding (PCTY) shares have risen 27.5% on a year-to-date (YTD) basis compared with the Zacks Internet - Software industry and the Zacks Computer & Technology sector’s return of 32.6% and 27.6%, respectively.Over the same time frame, Paylocity Holding had outperformed shares of its competitors, including Paycom Software (PAYC) , Paychex (PAYX) and Workday (WDAY) . On a YTD basis, PAYC and PAYX returned 13.5% and 22%, respectively, while WDAY lost 3%.This outperformance stems from its enhanced sales ...

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, 2024 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 Performance - Q1 2025 total revenue reached $363.0 million, reflecting a 14% year-over-year increase[3] - Recurring and other revenue for Q1 2025 was $333.1 million, also up 14% year-over-year[3] - GAAP net income for Q1 2025 was $49.6 million, or $0.88 per share, compared to $34.5 million, or $0.61 per share in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $129.0 million, an increase from $104.9 million in Q1 2024[5] - Cash flow from operations for Q1 2025 was $91.5 million, up from $62.1 million in Q1 2024[7] - For Q2 2025, recurring and other revenue is expected to be between $337.5 million and $342.5 million, indicating approximately 14% growth[8] - Total revenue for Q2 2025 is projected to be between $364.0 million and $369.0 million, representing about 12% growth[8] - For the full fiscal year 2025, total revenue is expected to range from $1.535 billion to $1.550 billion, indicating approximately 10% growth[10] - Adjusted EBITDA for the full fiscal year 2025 is anticipated to be between $530.0 million and $540.0 million[10] Year-over-Year Comparisons - Total revenues increased from $317,586 thousand in September 2023 to $362,956 thousand in September 2024, representing a growth of 14.2%[18] - Net income rose from $34,517 thousand in September 2023 to $49,573 thousand in September 2024, an increase of 43.7%[18] - Operating income improved from $41,189 thousand in September 2023 to $64,144 thousand in September 2024, reflecting a growth of 55.7%[18] - Basic net income per share increased from $0.62 in September 2023 to $0.89 in September 2024, a growth of 43.5%[18] - Gross profit for September 2023 was $216,119, increasing to $247,996 for September 2024, representing a growth of approximately 14.7%[21] - Non-GAAP Operating income rose from $41,189 in September 2023 to $64,144 for September 2024, reflecting a growth of about 55.7%[22] - Net income increased from $34,517 in 2023 to $49,573 in 2024, marking a growth of approximately 43.6%[23] - Non-GAAP Net income per share improved from $1.40 in September 2023 to $1.66 for September 2024, an increase of about 18.6%[24] - Adjusted EBITDA grew from $104,886 in September 2023 to $129,026 for September 2024, indicating a growth of approximately 23.0%[25] Cash and Assets - Cash and cash equivalents increased from $401,811 thousand as of June 30, 2024, to $778,549 thousand as of September 30, 2024, a rise of 93.6%[17] - Total current assets before funds held for clients grew from $572,432 thousand to $955,862 thousand, an increase of 67.0%[17] - Funds held for clients decreased from $2,952,060 thousand to $2,340,411 thousand, a decline of 20.7%[17] - Total liabilities increased from $3,212,396 thousand to $2,918,869 thousand, a decrease of 9.1%[17] Operating Expenses - Total operating expenses rose from $174,930 thousand to $183,852 thousand, an increase of 5.5%[18] - Non-GAAP total research and development expenses increased from $47,706 in September 2023 to $52,038 for September 2024, a rise of about 9.8%[26] - Non-GAAP sales and marketing expenses rose from $70,532 in 2023 to $78,570 in 2024, reflecting an increase of approximately 11.4%[27] Cash Flow - Cash provided by operating activities increased from $62,142 thousand in 2023 to $91,455 thousand in 2024, a growth of 47.2%[20] - Free Cash Flow improved from $44,495 in September 2023 to $73,917 for September 2024, representing a growth of about 66.1%[29] - Free cash flow excluding interest income on funds held for clients increased from $18,594 in September 2023 to $44,066 for September 2024, a growth of approximately 137.5%[29] - The company reported a significant increase in net cash provided by operating activities, from $62,142 in September 2023 to $91,455 for September 2024, an increase of about 47.1%[29] Acquisition - The acquisition of Airbase was completed on October 1, 2024, expanding the company's addressable market[2]

SCHAUMBURG, Ill., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ: PCTY), a leader in cloud-based HR and payroll software solutions, has completed its acquisition of Airbase Inc., a modern finance and spend management software solution that combines bill pay / accounts payable automation, expense management, corporate cards and procurement capabilities. The acquisition of Airbase represents an expansion of Paylocity's suite and is expected to deliver incremental integrated value to HR and finance leader ...

LAS VEGAS, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ: PCTY), a leader in cloud-based HR and payroll software solutions, today announced Headcount Planning, a new offering that brings together Finance, HR, Talent Acquisition, and hiring managers to create a more cohesive, data-driven approach to workforce planning. This integrated solution builds on Paylocity's acquisition of Trace in December 2023 and leverages the Paylocity employee record as the single source of truth for company-wide headcount ...

SCHAUMBURG, Ill., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ: PCTY), a leader in cloud-based HR and payroll software solutions, today announced it has signed a definitive agreement to acquire Airbase Inc., a modern finance and spend management software solution that combines bill pay / accounts payable automation, expense management, corporate cards and procurement capabilities. The acquisition of Airbase represents an expansion of Paylocity's suite and will deliver incremental integrated value to ...

SCHAUMBURG, Ill., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Paylocity (NASDAQ:PCTY), a leader in cloud-based HR and payroll software solutions, introduces Benefits Decision Support, a new product to simplify benefits enrollment for HR teams by offering employees personalized benefits recommendations based on their individual health needs, financial considerations, and family dynamics. This new offering is part of Paylocity's comprehensive HCM platform for the modern workforce and is the latest of several product in ...

Financial Performance & Growth - Paylocity's total revenue has grown significantly, from $853 million in FY22 to $1.403 billion in FY24, and is projected to reach $1.520 billion in FY25 [5] - The company targets long-term revenue exceeding $2 billion [26] - Adjusted EBITDA has increased from $238 million in FY22 to $506 million in FY24, with a projected $538 million in FY25 [5, 27] - Paylocity has achieved approximately 900 basis points of adjusted EBITDA margin leverage since FY21 [28] - Approximately 25% of new client revenue originates from channel referrals [18] Market & Strategy - Paylocity estimates a realized total addressable market (TAM) of approximately $19.5 billion [6] - The company's target market includes approximately 1.3 million businesses with 10-5,000 employees [7, 10] - Paylocity has penetrated approximately 3% of its addressable market [7] - The company's client base consists of 39,050 clients as of June 30, 2024 [5, 7] - Paylocity maintains a client revenue retention rate of over 92% [15, 24]