Core Viewpoint - Paycom Software forecasts annual revenue for 2026 below Wall Street expectations, leading to a decline in its shares by over 7% in extended trading [1] Company Summary - Paycom Software, a payroll software maker, reported a forecasted revenue range of $2.18 billion to $2.20 billion for 2026, which is below the analysts' average estimate of $2.23 billion [1] - The company reported revenue of $544.3 million for the fourth quarter ended December 31, exceeding analysts' estimates of $543 million [1] Industry Summary - The human capital management market is becoming increasingly competitive, with Paycom facing rivals such as ADP, Paylocity, and Workday [1] - Macroeconomic challenges are impacting new customer acquisition for Paycom, as businesses are delaying or reducing HR and payroll software purchases due to tighter budgets [1] - A slowdown in hiring or job cuts among small- and medium-sized businesses, which are Paycom's core clients, could pose additional challenges [1]

Core Insights - Timeero's California Break Tracker automates compliance with California's complex meal and rest break laws, reducing the risk of costly mistakes for businesses [2][4][5] Company Overview - Timeero is a GPS-based platform designed for mobile and field-based teams, focusing on time, mileage, and job tracking to enhance labor compliance and payroll accuracy [6] Product Features - The California Break Tracker includes features such as break reminders, digital attestations for employee confirmation, and GPS-verified records to provide proof of compliance during audits and lawsuits [8] Industry Context - California's strict break laws impose significant penalties, including one hour of premium pay for each missed break, highlighting the importance of effective break tracking systems for businesses [3][4]

Core Insights - Rain has announced a new integration with Paylocity, enhancing its earned wage access (EWA) services for over 41,650 clients using Paylocity's payroll platform [1][2][5] - The integration aims to provide employees with easier access to their earned wages, helping to alleviate financial stress and reduce reliance on predatory financial products [1][2][6] Company Overview - Rain is a leading provider of earned wage access solutions, serving over 3.5 million employees and facilitating more than $3 billion in early wage access [6] - The company focuses on employee financial wellness and aims to eliminate payday loans and predatory financial products [6] Integration Features - The integration allows eligible employees to access up to 50% of their gross earnings before payday while maintaining responsible usage limits [4] - Key employee details and timekeeping data are automatically pulled from Paylocity, streamlining the process for employers [4] - Employees can access their earned wages through Rain's mobile app, with free ACH transfers and optional instant access for a fee [4] - At the end of each pay period, earned wage adjustments are automatically sent back to Paylocity for inclusion in regular payroll, ensuring no disruption to payroll operations [4] Market Context - According to the Financial Health Pulse 2024 U.S. Trends Report, 70% of American households are experiencing financial difficulties, prompting employers to seek new benefits like earned wage access [2] - The partnership with Paylocity follows Rain's $75 million Series B financing, indicating strategic growth in the financial wellness space [5]

Foundation Overview - Paylocity founder Steve Sarowitz built a charitable foundation based on Bahá'í values [1] - The foundation funded hundreds of nonprofits [1] - The foundation suddenly announced its closure in May [1]

Paylocity founder Steve Sarowitz built a charitable foundation around the values of Baháʼí, a little-known faith from Persia. The organization funded hundreds of nonprofits until it suddenly announced its closure in May.https://t.co/hLyD6nb8zY https://t.co/8uRzkU5N8O ...

Company Overview - Paylocity 创始人 Steve Sarowitz 基于源自波斯的小众信仰巴哈伊教的价值观建立了一个慈善基金会 [1] - 该组织资助了数百家非营利组织，但在五月份突然宣布关闭 [1]

Foundation & Philanthropy - Paylocity founder established a charitable foundation rooted in Bahá'í values [1] - The foundation supported hundreds of nonprofits before its closure in May [1] Faith & Origin - Bahá'í is described as a little-known faith originating from Persia (present-day Iran) [1]

Core Points - The Wayfarer Foundation, established by billionaire Steve Sarowitz, announced its closure due to ongoing legal disputes and threats related to a lawsuit involving actors Justin Baldoni and Blake Lively [2][3][7] - Prior to the closure, the foundation was actively hiring and planning events, indicating a stable operation [2][3] - Sarowitz cited the need for flexibility and efficiency in charitable giving as a reason for transitioning to private donations through a Donor-Advised Fund (DAF) [4][15] Summary by Sections Foundation Operations - The Wayfarer Foundation was funded entirely by Sarowitz, who invested approximately $160 million since its inception in 2021, distributing nearly $60 million to over 200 nonprofit organizations [7][14] - The foundation aimed to support organizations focused on social justice and empowerment of minority groups, with plans to allocate nearly $40 million in 2023 [14][15] Legal Issues and Threats - The closure was precipitated by threats against Sarowitz and his family, including an incident involving arson and extortion related to the lawsuit filed by Lively against Baldoni and Sarowitz [3][9] - The lawsuit alleged sexual harassment and retaliation, which both Baldoni and Sarowitz denied, leading to a counter-suit for defamation [6][12] Impact on Nonprofits - The abrupt closure of the foundation has left over 150 funded organizations in a precarious position, as many relied heavily on the foundation's support [8][17] - Experts noted that the sudden shutdown of a foundation typically takes years, and the immediate impact on nonprofits could be severe [8][17] Future Plans - Sarowitz plans to continue supporting nonprofits personally but has not disclosed specific future funding amounts or recipients [16][17] - The transition to private donations through DAFs allows for more discretion and less bureaucratic oversight in charitable giving [4][15]

Company Foundation - Paylocity's founder established a charitable foundation based on Bahá'í values [1] - The foundation, supporting hundreds of nonprofits, announced its closure in May [1] Industry Context - Bahá'í is described as a little-known faith from Persia [1]

Organization & Philanthropy - Paylocity founder established a charitable foundation based on Bahá'í values [1] - The foundation supported hundreds of nonprofits [1] - The foundation unexpectedly announced its closure in May [1]