Asure Software Inc ( (ASUR) ) has released its Q4 earnings. Here is a breakdown of the information Asure Software Inc presented to its investors.
Asure Software Inc., based in Austin, Texas, is a prominent provider of cloud-based Human Capital Management (HCM) software solutions, offering a comprehensive suite of services including HR, payroll, time and attendance, benefits administration, and talent management. The company leverages AI technology to enhance efficiency and client interactions.
Asure Software Inc. recently announced its financial results for the fourth quarter and full year of 2024, reporting a total revenue of $119.8 million for the year. The company highlighted a significant growth in recurring revenues, which now account for 96% of total revenues, up from 84% the previous year.
Key financial metrics from the report include a 17% year-over-year increase in fourth-quarter revenue, reaching $30.8 million, and a 14% rise in recurring revenue. Despite a net loss of $3.2 million in the fourth quarter, the company saw improvements in EBITDA and adjusted EBITDA, with figures rising to $3.4 million and $6.2 million respectively. Additionally, Asure signed a major multi-year agreement to resell its Payroll and Payroll Tax Management solutions and introduced Luna, an advanced AI agent to enhance payroll and HR management.
Looking ahead, Asure Software Inc. is poised for continued growth in 2025, with plans for both organic and inorganic expansion. The company is confident in its strategic investments in technology and new product development, which are expected to drive sustained long-term growth.
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