Paycom Software ( (PAYC) ) has released its Q4 earnings. Here is a breakdown of the information Paycom Software presented to its investors.
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Paycom Software, Inc. is a leading provider of cloud-based human capital management software, offering comprehensive HR and payroll solutions to businesses in the U.S. and internationally.
In its latest earnings report, Paycom announced a solid financial performance for the fourth quarter and full year of 2024, with notable increases in both revenue and net income, driven by its automated solutions and strategic market expansion.
For the full year 2024, Paycom reported total revenues of $1.883 billion, marking an 11% increase from the previous year. The company’s GAAP net income reached $502 million, contributing to an earnings per share of $8.92. The fourth quarter alone saw a 14% year-over-year revenue increase, reaching $494 million, with a net income of $113.6 million. Paycom’s Adjusted EBITDA also improved, totaling $775 million for the year, reflecting efficient cost management and operational improvements.
Strategically, Paycom expanded its market presence by opening new sales offices in key locations across the U.S., while maintaining a strong client retention rate of 90%. The company’s focus on automation and client ROI contributed significantly to its growth, with the client count slightly increasing to 37,543 by the end of the year.
Looking ahead, Paycom forecasts continued growth with expected revenues between $2.015 billion and $2.035 billion for 2025. The company remains committed to enhancing its product offerings and expanding its client base, leveraging its strong financial position and market-leading technology solutions.
