Asure Announces First Quarter 2025 Results

Core Insights - Asure Software, Inc. reported total revenues of $34.9 million for Q1 2025, reflecting a 10% increase year-over-year, with recurring revenues growing by 10% as well [1][9] - The company experienced a net loss of $2.4 million in Q1 2025, compared to a net loss of $0.3 million in the same period last year [9] - Asure's recurring revenue now constitutes over 95% of total revenue, with a record contracted revenue backlog [6][7] Financial Highlights - Total revenue for Q1 2025 was $34.9 million, up from $31.7 million in Q1 2024 [9] - Recurring revenue reached $33.2 million, compared to $30.3 million in the prior year [9] - Gross profit increased to $24.6 million from $22.6 million year-over-year, maintaining a gross margin of 70.6% [9][37] - Adjusted EBITDA for Q1 2025 was $7.3 million, up from $6.8 million in Q1 2024 [9] Business Developments - The company launched a new Payroll Tax Management solution aimed at large Canadian companies and global enterprises, enhancing its service offerings [9] - Asure entered into a credit agreement allowing for borrowing up to $60 million, with $20 million received at closing [9] Guidance - For Q2 2025, Asure projects revenue between $30.0 million and $32.0 million, and for the full year 2025, revenue is expected to be between $134.0 million and $138.0 million [8][7]