Asure Software reports Q3 EPS (1c), consensus (3c)

Reports Q3 revenue $21.9M, consensus $21.26M. "Asure’s third quarter results showed strong double-digit revenue growth of 22% year-over-year with organic revenues beginning to accelerate as anticipated," said CFO, John Pence. "Net loss was $4.5M, a margin of (21)%, compared to net income of $5.3M in the prior period, or a margin of 30%, a decline of 185% relative to the prior year, as last year’s results included a $10.5M gain related to ERTC credits. EBITDA declined to $1.3M relative to the prior year’s $9.9M for the same reason. Adjusted EBITDA, which excludes the tax credits, rose 71% relative to the prior year to $2.1M and adjusted EBITDA margin rose 280 basis points to 9.6%."