NASDAQ$PCTY
Paylocity Holding Corporation · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a robust Q3 2023 with significant revenue growth and strategic advancements in AI integration.
Paylocity announced strong financial results for Q3 2023, with total revenue reaching $339.9 million, a 38% increase year-over-year, and recurring & other revenue growing by 28% to $314.2 million. The company highlighted its focus on innovative product development, including the launch of AI Assist, and its recognition as a top employer.
- Total revenue increased by 38% year-over-year, reaching $339.9 million.
- Recurring & other revenue grew by 28% year-over-year, totaling $314.2 million.
- GAAP operating income was $80.4 million and Non-GAAP operating income was $116.7 million.
- The company launched AI Assist, integrating generative AI to enhance client-employee communication.
Headline financials
Revenue & EPS history
Paylocity · Revenue · Quarterly
$340M
Revenue by segment
Paylocity · $314M total across 1 segment · Q3 2023
- Recurring & Other Revenue$314M+28.3%100.0%
Forward guidance
Paylocity provided guidance for Q4 2023 and the full fiscal year 2023, expecting continued revenue growth and strong Adjusted EBITDA performance.
Tailwinds
- Total revenue for Q4 2023 is expected to be in the range of $299.2 million to $303.2 million, representing approximately 32% growth over fiscal year 2022 fourth quarter total revenue.
- Adjusted EBITDA for Q4 2023 is expected to be in the range of $93.5 million to $96.5 million.
- Total revenue for fiscal year 2023 is expected to be in the range of $1.165 billion to $1.169 billion, representing approximately 37% growth over fiscal year 2022 total revenue.
- Adjusted EBITDA for fiscal year 2023 is expected to be in the range of $368.1 million to $371.1 million.
- The company continues to innovate with AI Assist, enhancing its HCM platform.
Headwinds
- Guidance is based on information available as of May 4, 2023, and is subject to change.
- The company is unable to reconcile forward-looking non-GAAP Adjusted EBITDA to its directly comparable GAAP financial measure because the information which is needed to complete a reconciliation is unavailable at this time without unreasonable effort.
- Forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed.
- General economic conditions, including the ongoing impact of COVID-19, could affect the company's performance.
- Cybersecurity threats and evolving cybersecurity regulations pose ongoing challenges.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+1.5%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+2.0%
Avg return
30 days after
49%
26 / 53 earnings
Positive
+20.2%
Q3 2015
Best reaction
-13.3%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +4.0% | -4.4% | +4.1% | |
| Q2 2026 | -7.2% | -15.2% | -5.5% | |
| Q1 2026 | +4.4% | +2.1% | +5.2% | |
| Q3 2025 | -3.7% | -5.4% | -1.7% | |
| Q2 2025 | -2.9% | +1.0% | -8.0% | |
| Q1 2025 | +4.9% | +8.7% | +17.9% | |
| Q4 2024 | +5.3% | +1.3% | +7.5% | |
| Q3 2024 | +12.3% | +13.3% | -4.7% | |
| Q2 2024 | -1.3% | -1.3% | -2.7% | |
| Q1 2024 | -11.5% | -9.2% | -2.6% | |
| Q4 2023 | -3.1% | -5.8% | -4.3% | |
| Q3 2023 | -7.4% | -9.4% | -3.1% | |
| Q2 2023 | -0.2% | +6.1% | -13.0% | |
| Q1 2023 | -4.1% | -3.8% | +4.3% | |
| Q4 2022 | +13.3% | +15.9% | +4.6% | |
| Q3 2022 | -13.3% | -16.6% | -13.0% | |
| Q2 2022 | +7.6% | +3.5% | -4.0% | |
| Q1 2022 | -6.4% | -7.1% | -18.5% | |
| Q4 2021 | +12.8% | +15.2% | +26.9% | |
| Q3 2021 | -2.3% | -5.8% | -3.5% | |
| Q2 2021 | -0.7% | +4.4% | -14.4% | |
| Q1 2021 | -6.3% | -2.9% | -3.1% | |
| Q4 2020 | -3.9% | -5.1% | -0.6% | |
| Q3 2020 | +2.5% | +0.7% | +20.9% | |
| Q2 2020 | -5.1% | -2.7% | -8.2% | |
| Q1 2020 | -0.3% | -1.2% | +18.9% | |
| Q4 2019 | +15.0% | +8.6% | +11.6% | |
| Q3 2019 | +3.9% | +1.2% | +5.4% | |
| Q2 2019 | +4.1% | +6.9% | +5.2% | |
| Q1 2019 | -4.8% | -6.1% | +2.0% | |
| Q4 2018 | +5.9% | +4.9% | +26.2% | |
| Q3 2018 | +10.2% | +8.1% | +14.4% | |
| Q2 2018 | -8.6% | -10.9% | +9.4% | |
| Q1 2018 | -4.1% | -8.3% | -13.1% | |
| Q4 2017 | +0.7% | +3.4% | +5.3% | |
| Q3 2017 | +8.0% | +7.8% | +19.0% | |
| Q2 2017 | +15.4% | +11.8% | +20.8% | |
| Q1 2017 | -11.9% | -7.3% | -22.3% | |
| Q4 2016 | -3.6% | -3.7% | -5.7% | |
| Q3 2016 | -11.6% | — | — | |
| Q2 2016 | -2.6% | — | — | |
| Q1 2016 | +19.8% | — | — | |
| Q4 2015 | -1.4% | — | — | |
| Q3 2015 | +20.2% | — | — | |
| Q2 2014 | +9.7% | — | — | |
| Q2 2015 | +11.4% | — | — | |
| Q1 2014 | +5.4% | — | — | |
| Q1 2015 | +6.2% | — | — | |
| Q4 2012 | -0.9% | — | — | |
| Q4 2014 | +7.7% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2014 | -1.6% | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro