Business
Asure Announces Fourth Quarter and Full Year 2022 Results
Reports Record Fourth Quarter Revenues of $29.3 Million, Up 39% from Prior Year Reports Record Full Year Revenues of $95.8 Million, Up 26% from Prior Year
About this update from Asure Software Inc
[{"type":"text","content":"Reports Record Fourth Quarter Revenues of $29.3 Million, Up 39% from Prior Year Reports Record Full Year Revenues of $95.8 Million, Up 26% from Prior Year Raises 2023 Financial Targets and Guidance AUSTIN, Texas, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”) (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (HCM) software solutions, reported results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights Revenue of $29.3 million, up 39% from prior-year’s quarterRecurring revenue of $24.1 million, up 25% from prior-year’s quarterNet loss of $1.1 million, a $3.2 million improvement from prior-year’s quarterEBITDA of $5.0 million, up $3.5 million from prior-year’s quarterAdjusted EBITDA of $6.0 million, up $3.7 million from prior-year’s quarter Full Year 2022 Financial Highlights Revenue of $95.8 million, up 26% year-over-yearRecurring revenue of $86.2 million, up 21% year-over-yearNet loss of $14.5 million, a $17.7 million decline from prior year, compared to full year 2021 net income of $3.2 million which included $18.8 million in extraordinary gains, without which prior year net loss would have been $15.7 millionEBITDA of $8.8 million, down $13.5 million from prior year, compared to full year 2021 EBITDA of $22.3 million which includes $18.8 million in extraordinary gains, without which prior year EBITDA would have been $3.4 millionAdjusted EBITDA of $11.8 million, up $4.2 million from prior year Recent Business Highlights Announced integration with ZayZoon, allowing our customers the ability to offer their employees earned wage access. In today’s labor market, “work today, get paid today” is becoming increasingly popular and this integration empowers our customers to offer their candidates the means to build and retain their workforce.Announced integrations with H&R Block and TurboTax®, allowing employees to electronically access their W-2s directly from Asure in each respective tax preparation software. This integration eliminates the need for employees to manually enter their tax information, saving them time and reducing the potential for errors. The convenience represents another value-added employee benefit, which are becoming increasingly important in today's competitive job market. Management Com...