Paycor HCM(US:PYCR)2023-11-11 18:42Financial Performance & Growth - Paycor's FY'23 revenue reached $553 million[29] - The company experienced 29% revenue growth[29] - Adjusted Gross Profit Excluding Depreciation & Amortization increased from $248 million in FY'20 to $436 million in FY'23[9] - Q1 FY'24 Adjusted Operating Income was $16 million[78] Market & Opportunity - The SMB (Small and Medium-sized Business) market represents a $38 billion opportunity[17, 29] - The SMB market is still underserved, presenting strong growth potential[6, 29] - Paycor has less than 2% market share in the SMB segment[31] Sales & Marketing - The company's sales force grew by 22% in FY'23, exceeding 550 sales associates[29, 52] - 75% of sales come from legacy incumbents[62] Guidance - Q2 FY'24 total revenue is projected to be between $1545 million and $1565 million[73] - FY'24 total revenue is projected to be between $648 million and $654 million[73]