Earnings ·
Paycom reports Q3 revenue of $544M, up 10%, and raises full-year outlook
PAYCPaycom Software, Inc.
Paycom Software reported third-quarter total revenues of $543.8 million, a 10.2% increase year over year, driven by an 11.3% rise in recurring revenue to $519.3 million. GAAP net income reached $133.2 million, or $2.99 per diluted share, compared to $110.7 million previously. Non-GAAP net income was $150.0 million, or $3.37 per diluted share, while adjusted EBITDA rose 38% to $268.1 million. The company raised its full-year revenue guidance to a range of $2.213 billion to $2.218 billion and adjusted EBITDA guidance to $1.069 billion to $1.079 billion. Paycom Software is a cloud-based human capital management software provider.