Fri, Aug 2, 2:02 PM (88 days ago)
Paylocity Holding Corporation's Form 10-K for the fiscal year ended June 30, 2024, highlights the company's strong financial performance and strategic initiatives. Key points include: 1. **Revenue Growth**: Total revenues increased by 19% year-over-year to $1,402.5 million, driven by a 17% increase in recurring and other revenue to $1,281.7 million and a 58% rise in interest income on funds held for clients to $120.8 million. 2. **Net Income**: Net income rose significantly by 47% to $206.8 million. 3. **Operating Expenses**: Operating expenses grew by 7% to $700.7 million, with sales and marketing, research and development, and general and administrative expenses contributing to the increase. 4. **Adjusted EBITDA**: Adjusted EBITDA increased by 35% to $505.6 million, reflecting strong operational efficiency. 5. **Client Base**: The number of clients using Paylocity's HCM and payroll software solutions grew by 8% to approximately 39,050. 6. **Future Outlook**: The company plans to continue investing in technology, sales, and marketing to drive further growth. 7. **Share Repurchase Program**: Paylocity repurchased $150 million of its common stock under a $500 million share repurchase program. Overall, Paylocity demonstrates robust financial health, strategic growth, and a solid market position.