NYSE$DAY
Dayforce Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Dayforce's Q3 2024 results were released, showcasing strong growth in recurring revenue and overall financial performance.
Dayforce reported a 17% increase in total revenue, reaching $440.0 million, and a 19% increase in Dayforce recurring revenue, amounting to $333.2 million. The company's net income was $2.0 million, with adjusted diluted net income per share at $0.47. Additionally, 6,730 customers were live on the Dayforce platform as of September 30, 2024.
- Total revenue increased by 17% to $440.0 million.
- Dayforce recurring revenue grew by 19% to $333.2 million.
- Net income was $2.0 million, a significant improvement from the previous year's net loss.
- The company repurchased approximately $30 million worth of shares.
Headline financials
Revenue & EPS history
Dayforce · Revenue · Quarterly
$440M
Revenue by segment
Dayforce · $378M total across 4 segments · Q3 2023
- Dayforce recurring$280M+34.6%74.1%
- Professional services$52.1M+0.6%13.8%
- Powerpay recurring$24M+6.2%6.4%
- Other recurring$21.8M-34.7%5.8%
Forward guidance
Dayforce provided guidance for the fourth quarter and full year 2024, indicating continued revenue growth and adjusted EBITDA performance.
Tailwinds
- Total revenue for 2024 is projected to be $1,747 million to $1,752 million, representing a 15% to 16% increase.
- Dayforce recurring revenue, excluding float, for 2024 is expected to be $1,163 million to $1,168 million, a 21% increase.
- Float revenue for 2024 is guided at $192 million.
- Adjusted EBITDA for 2024 is projected to be $492 million to $507 million.
- Total revenue growth, excluding float, between 14% and 15% for 2025.
Headwinds
- Guidance assumes an average U.S. dollar to Canadian dollar foreign exchange rate of $1.38 for Q4 2024.
- Uncertainty regarding depreciation and amortization.
- Uncertainty regarding share-based compensation expense and related employer taxes.
- Uncertainty regarding changes in foreign currency exchange rates.
- Uncertainty regarding other items affecting Adjusted EBITDA.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q3 2024
-1.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.4%
Avg return
30 days after
42%
14 / 33 earnings
Positive
+17.4%
Q2 2022
Best reaction
-15.4%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.0% | +0.2% | +1.1% | |
| Q2 2025 | +0.5% | -6.0% | +29.9% | |
| Q1 2025 | -5.9% | +2.7% | +4.1% | |
| Q4 2024 | -8.0% | -8.4% | -22.8% | |
| Q3 2024 | +8.9% | +15.6% | +22.4% | |
| Q2 2024 | +5.4% | -1.4% | +6.4% | |
| Q1 2024 | -5.9% | -5.3% | -19.4% | |
| Q4 2023 | -1.8% | +2.1% | -6.2% | |
| Q3 2023 | +4.8% | +2.0% | +7.7% | |
| Q2 2023 | +1.5% | +4.0% | +3.7% | |
| Q1 2023 | -9.9% | -7.6% | +2.3% | |
| Q4 2022 | +3.6% | +3.4% | -9.5% | |
| Q3 2022 | -3.1% | -12.3% | +6.4% | |
| Q2 2022 | +17.4% | +19.3% | +5.0% | |
| Q1 2022 | -1.2% | -4.0% | -3.6% | |
| Q4 2021 | -0.6% | -9.5% | -20.6% | |
| Q3 2021 | -6.7% | — | — | |
| Q2 2021 | +1.2% | — | — | |
| Q1 2021 | -1.1% | — | — | |
| Q4 2020 | -10.8% | — | — | |
| Q3 2020 | +2.3% | — | — | |
| Q2 2020 | -9.6% | — | — | |
| Q1 2020 | +7.4% | — | — | |
| Q4 2019 | -15.4% | — | — | |
| Q3 2019 | +9.6% | — | — | |
| Q2 2019 | +2.3% | — | — | |
| Q1 2019 | -6.9% | — | — | |
| Q4 2018 | -0.3% | — | — | |
| Q3 2018 | +0.2% | — | — | |
| Q3 2017 | +0.2% | — | — | |
| Q2 2018 | -10.0% | — | — | |
| Q4 2017 | -1.1% | — | — | |
| Q1 2018 | -3.4% | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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