Paylocity Announces Second Quarter Fiscal Year 2025 Financial Results

Core Insights - Paylocity Holding Corporation reported strong financial results for the second quarter of fiscal year 2025, with continued momentum from Q1 leading to increased revenue and profitability guidance for the fiscal year [2][10]. Financial Performance - Total revenue for Q2 2025 was $377.0 million, representing a 16% increase year-over-year [8][9]. - Recurring and other revenue reached $347.7 million, up 17% from the same quarter in the previous year [7][8]. - GAAP operating income was $46.6 million, while non-GAAP operating income was $101.1 million, compared to $49.7 million and $92.8 million respectively in Q2 2024 [3][4]. - GAAP net income for Q2 2025 was $37.5 million, or $0.66 per share, compared to $38.1 million, or $0.67 per share in Q2 2024 [4][9]. - Adjusted EBITDA for Q2 2025 was $126.2 million, an increase from $112.6 million in Q2 2024 [9][30]. Balance Sheet and Cash Flow - As of December 31, 2024, cash and cash equivalents totaled $482.4 million, while long-term debt stood at $325.0 million [9][26]. - Cash flow from operations for the first six months of fiscal year 2025 was $145.7 million, compared to $137.2 million for the same period in fiscal year 2024 [9][26]. Business Outlook - For Q3 2025, recurring and other revenue is expected to be between $410.0 million and $415.0 million, indicating approximately 12% growth over Q3 2024 [17]. - Total revenue guidance for fiscal year 2025 is projected to be between $1.558 billion and $1.568 billion, representing approximately 11% growth over fiscal year 2024 [17].