Business
Paylocity Announces Fourth Quarter and Full Fiscal Year 2020 Financial Results
Q4 2020 Recurring & Other Revenue of $129.3 million, up 13% year-over-yearQ4 2020 Total Revenue of $130.6 million, up 8% year-over-year FY 2020 Recurring &
About this update from Paylocity Holding Corporation
[{"type":"text","content":"Q4 2020 Recurring & Other Revenue of $129.3 million, up 13% year-over-yearQ4 2020 Total Revenue of $130.6 million, up 8% year-over-year FY 2020 Recurring & Other Revenue of $546.2 million, up 22% year-over-yearFY 2020 Total Revenue of $561.3 million, up 20% year-over-year SCHAUMBURG, Ill., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Paylocity Holding Corporation (Nasdaq: PCTY), a leading provider of cloud-based HR and payroll software solutions, today announced financial results for the fourth quarter and full fiscal year 2020, which ended June 30, 2020.\n “We had a solid fiscal 2020, which included 22% recurring and other revenue growth and a very strong year for our sales team, despite the impact COVID-19 had on macro-economic conditions in the fourth quarter,” said Steve Beauchamp, Chief Executive Officer of Paylocity. “I’m proud of the dedication our employees showed in helping our clients navigate through a very uncertain time, coupled with a rapidly changing legislation landscape. We continue to see our commitment to product development pay dividends, with usage of our Learning Management and Community products up significantly during the fourth quarter. We also recently released a number of new product features and resources to help prospects and clients rethink how they recruit, rehire and engage their workforce in this new environment.” Key Recent Achievements FY 2020 Recurring & Other Revenue of $546.2 million, up 22% year-over-yearFY 2020 Total Revenue of $561.3 million, up 20% year-over-yearFY 2020 GAAP net income of $64.5 million and $1.15 per diluted shareFY 2020 Adjusted EBITDA, a non-GAAP measure, of $159.8 million or 28.5% of revenueEnding FY 2020 cash, cash equivalents and invested corporate cash balance of $288.0 millionAcquisition of VidGrid, a leading video platform provider that enables peer-to-peer video learning courses, completed in April 2020 Fourth Quarter Fiscal 2020 Financial Highlights Revenue: Total revenue was $130.6 million, an increase of 8% from the fourth quarter of fiscal year 2019.Recurring & other revenue was $129.3 million, representing 99% of total revenue and an increase of 13% from the fourth quarter of fiscal year 2019 recurring & other revenue. Operating Income: GAAP operating income was $6.3 million and Non-GAAP operating income was $21.4 million in the fourth quarter of fiscal year 2020. Net ...