Business
Paylocity Announces Second Quarter Fiscal Year 2020 Financial Results
Q2 2020 Recurring and Other Revenue of $128.0 million, up 25% year-over-yearQ2 2020 Total Revenue of $132.4 million, up 23% year-over-year SCHAUMBURG, Ill.,
About this update from Paylocity Holding Corporation
[{"type":"text","content":"Q2 2020 Recurring and Other Revenue of $128.0 million, up 25% year-over-yearQ2 2020 Total Revenue of $132.4 million, up 23% year-over-year SCHAUMBURG, Ill., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Paylocity Holding Corporation (Nasdaq: PCTY), a leading provider of payroll and human capital management software solutions, today announced financial results for the second quarter of fiscal year 2020, which ended December 31, 2019.\n “We had a nice second quarter, led by $128.0 million and 25% recurring and other revenue growth over the second quarter of last fiscal year,” said Steve Beauchamp, Chief Executive Officer of Paylocity. “Our sales team had a very strong quarter throughout our target market, continuing the sales momentum from Q1, and are off to their best start in quite some time. We are also pleased with our momentum in product development, which continues to pay dividends in the marketplace as Paylocity has once again been named an Overall Leader in 10 product categories in G2’s Winter 2020 Grid Report, including being named a leader in payroll for the enterprise segment for the first time.” Second Quarter Fiscal 2020 Financial Highlights Revenue: Total revenue was $132.4 million, an increase of 23% from the second quarter of fiscal year 2019.Total recurring and other revenue was $128.0 million, representing 97% of total revenue and an increase of 25% from the second quarter of fiscal year 2019. Operating Income: GAAP operating income was $6.1 million in the second quarter of fiscal year 2020 versus $7.0 million in the second quarter of fiscal year 2019.Non-GAAP operating income was $21.1 million in the second quarter of fiscal year 2020 versus $17.7 million in the second quarter of fiscal year 2019. Net Income: GAAP net income was $5.5 million or $0.10 per share for the three months ended December 31, 2019 based on 55.8 million diluted weighted average common shares outstanding versus $5.7 million or $0.10 per share for the three months ended December 31, 2018 based on 55.1 million diluted weighted average common shares outstanding. Adjusted EBITDA: Adjusted EBITDA, a non-GAAP measure, was $30.3 million in the second quarter of fiscal year 2020 versus $26.1 million in the second quarter of fiscal year 2019. Balance Sheet and Cash Flow: Cash, cash equivalents and invested corporate cash totaled $152.4 million as of the end of ...