Workflow
Dayforce Reports Fourth Quarter and Full Year 2024 Results1
DAYCeridian(DAY) GlobeNewswire·2025-02-05 12:00

Core Insights - Dayforce, Inc. reported a total revenue of 465.2millionforQ42024,reflectinga16465.2 million for Q4 2024, reflecting a 16% year-over-year increase, while recurring revenue reached 347.9 million, up 19% year-over-year [1][6][11] - The company achieved a full-year net cash provided by operating activities of 281.1million,markinga28281.1 million, marking a 28% increase compared to the previous year [1][11] - Dayforce maintained a strong annual gross revenue retention rate of 98% for 2024, indicating robust customer loyalty and satisfaction [1][11] Financial Highlights for Q4 2024 - Total revenue was 465.2 million, an increase of 16.4% year-over-year, or 17.0% on a constant currency basis [6] - Dayforce recurring revenue was 347.9million,up19.1347.9 million, up 19.1% year-over-year, or 19.5% on a constant currency basis [6] - Operating profit for the quarter was 28.5 million, down from 38.8millioninthepreviousyear,whileadjustedoperatingprofitroseto38.8 million in the previous year, while adjusted operating profit rose to 103.3 million from 78.9million[6][11]−NetincomeforQ4was78.9 million [6][11] - Net income for Q4 was 10.8 million, compared to 45.6millioninthesamequarterlastyear[6][11]FinancialHighlightsforFullYear2024−Totalrevenuefortheyearwas45.6 million in the same quarter last year [6][11] Financial Highlights for Full Year 2024 - Total revenue for the year was 1,760.0 million, a 16.3% increase year-over-year [11] - Dayforce recurring revenue reached 1,339.9million,up20.61,339.9 million, up 20.6% year-over-year [11] - Adjusted EBITDA for the year was 501.5 million, with an adjusted EBITDA margin of 28.5%, an increase from 27.1% [11] - Free cash flow for the year was 171.5million,comparedto171.5 million, compared to 105.1 million in the previous year [11] Business Highlights - Dayforce launched its first mass advertising campaign in the U.S. and introduced the Dayforce Partner Network to enhance customer experience [12] - The company received multiple accolades, including being named a Leader in various HCM technology assessments and recognized as one of the Top 100 Most Loved Workplaces in America [12] - Dayforce achieved record attendance at its annual customer conference, Dayforce Discover 2024, showcasing its commitment to customer engagement [13] Product and Innovation Highlights - Dayforce introduced several new product capabilities, including AI-enhanced features to streamline workflows and improve decision-making [23] - The company launched Dayforce Wallet updates, providing new functionalities for direct-to-bank payments and on-demand pay access [23] - New intelligence capabilities were added to the Dayforce suite, enhancing customer experience and operational efficiency [23] Customer and Sales Highlights - Dayforce reported a significant increase in the number of global employees using its platform, reaching 7.62 million, up 11.4% year-over-year [11] - The company expanded its customer base, with 6,876 customers live on the Dayforce platform, an increase of 7.6% year-over-year [11] - Notable new partnerships included large organizations across various sectors, such as retail, manufacturing, and public services, adopting the full Dayforce suite [17]