Slide 1: Payroll & HR Solutions Investor Presentation July 2025
Payroll & HR Solutions Investor Presentation July 2025 : ASUR 1
Slide 2: Safe Harbor Statement
(Under the Private Securities Litigation Reform Act of 1995) Safe Harbor Statement Forward-Looking Statements This presentation contains certain statements made by management that may constitute “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securit
Slide 3: Chairman’s Comments
Chairman’s Comments • Our second quarter results reflect continued positive momentum, with total revenue increasing 7% year-over-year to $30.1 million. Excluding ERTC, revenue was up 10%. We saw strong performance from our Payroll Tax Management product, and our recruiting and applicant tracking sol
Slide 4: Company Overview
Company Overview Payroll and HR for Growing businesses. Asure helps businesses get access to growth capital, stay compliant with HR laws, and win the war for talent with better tools to manage their workforce. By the Numbers $138-$142M 96% 22%-24% FY2025 Recurring FY2025 Revenue Revenue Adjusted EBI
Slide 5: Asure’s Growth is Accelerating
Asure’s Growth is Accelerating Strategic platform acquisitions poised for growth Asure is a 35-year-old public company with the mindset—and momentum—of a $138 to $142M startup. In just a few years, we’ve made bold moves: exiting non-core businesses, (2025 Revenue Guidance) acquiring 30+ HCM provider
Slide 6: Mid-term Profits Expand as Revenue Composition Changes and We Achieve Scale
Mid-term Profits Expand as Revenue Composition Changes and We Achieve Scale $200 As Revenue Grows… $150 Gross Profit $125 $140 Adjusted EBITDA Approaches ~30% $100 Operating Income Approaches ~20% $100 Net Income (Loss) $80 Total Revenue $65 $60 $40 $35 $25 $30 $20 $15 $15 $10 $5 $5 ($5) Business Mo
Slide 7: Significant Near-Term Growth is Underpinned by a Strong Financial Profile
Significant Near-Term Growth is Underpinned by a Strong Financial Profile Revenue Adjusted 22%-24% Margin ▲18% Core ERTC $1.6M EBITDA 20% ▲17% 19% $18M Margin Margin $138M - $11M ▲19% $142M $30M - $118M $34M $3M 12% ▲16% Margin $23M $23M $101M $85M 10% Margin $73M $12M $8M FY 2021A FY 2022A FY 2023A
Slide 8: Asure’s Go-to-Market Strategy has Three Paths to Growth
Asure’s Go-to-Market Strategy has Three Paths to Growth Enhanced Organic Elevate Reseller’s Client Relationship Enhanced • Bring current indirect clients into our ecosystem Roll-Up O • Recognize top-line vs only reseller software license Traditional Organic c rg • No migration - Clients already usin
Slide 9: Human Capital Management (HCM) Presents a Huge Business Opportunity
Human Capital Management (HCM) Presents a Huge Business Opportunity Market Size Market Tailwinds Shift to cloud software driving US HCM TAM growth $90B+ US HCM TAM (CAGR 7.6% through 2025 and reach $90B+) Total US HCM TAM is growing at 7.6% CAGR(1) Tight labor markets have accelerated the need for $
Slide 10: HCM | Building a $100 PEPM Opportunity
HCM | Building a $100 PEPM Opportunity Asure’s model goes beyond software, offering a full back-office solution: payroll, HR, compliance, benefits, and more. By consolidating what businesses already outsource, we unlock more revenue with less complexity. 2025 ~$100 Max PEPM Marketplace Platform acqu
Slide 11: HCM | End-To-End Solution
HCM | End-To-End Solution Powering GROWTH Empowering FREEDOM for 100K+ employers for 2M+ employees ified Service Delivery Mod Un el Recruiting Employee HR Benefits Time 401(k) & Labor tform - Comm Payroll Tax Pla on HR Library arned Wage &E One d A UX ar cc Employee Payc ess Payroll Outsourced HR Da
Slide 12: HCM Business | Competitive Landscape
HCM Business | Competitive Landscape Companies with 1-1000 Employees ADP and Paychex are Asure’s largest competitors with more presence in major markets, but they also create the largest opportunity with significant churn. Many rely on their CPA or in-house software like QuickBooks. CPA, Regional, a
Slide 13: HCM | How, Why, and Where We Win
HCM | How, Why, and Where We Win How Clients Find Asure Why Clients Choose Asure* Trusted Advisor Universe 1 or 2 (Not Important) 3 or 4 5 or 6 7 or 8 9 or 10 (Extremely Important) High-Quality Customer Service 4% 88% Bank 4.4k Has the specific features I need 16% 68% Benefit CPA Relationship with m
Slide 14: Select Financial Data
Select Financial Data 14
Slide 15: 2Q25 Financial Highlights
2Q25 Financial Highlights Total Recurring Total Revenue Adjusted Revenue Revenue excl. ERTC Net Loss EBITDA $30.1 $30.1 $28.6 $5.2 YoY YoY YoY YoY YoY 7% 6% 10% -$1.7m 27% $(6.1) *All figures presented in millions 15
Slide 16: Growth Results: YoY Revenue 2Q24 Bridge to 2Q25
YoY Revenue: 2Q24 Bridge to 2Q25 Core ERTC $0.0M 4.9% Growth $0.6M 1.2% 3.5% $30.1M Results $27.5M Year over year performance Q2-24 Traditional Enhanced Strategic Q2-25 Organic Organic Inorganic Waterfall Definitions • Traditional Organic consists of the net revenue generated from new bookings, pric
Slide 17: Select Financial Data
Select Financial Data : ASUR in $Millions 2Q24 1Q25 2Q25 Cash and Equivalents 20.7 14.1 66.0 Total Equity 195.5 197.6 194.2 Debt 6.0 14.1 67.4 Client Funds Assets 190.4 257.0 214.0 Outstanding Shares (as of 06-30-2025) ~27.2 Enterprise Value (as of 07-29-2025) $277M Average Daily Volume 90 day ~73k
Slide 18: Disclosure Regarding Non-GAAP and Adjusted Financial Measures (1 of 4)
Disclosure Regarding Non-GAAP and Adjusted Financial Measures (1 of 4) This presentation includes information about bookings, non-GAAP gross profit, non-GAAP sales and marketing expense, non-GAAP general and administrative expense, non-GAAP research and development expense, EBITDA, EBITDA margin, ad
Slide 19: Disclosure Regarding Non-GAAP and Adjusted Financial Measures (2 of 4)
Disclosure Regarding Non-GAAP and Adjusted Financial Measures (2 of 4) Non-GAAP research and development expense differs from research and development expense in that it excludes share-based compensation and one- time items. EBITDA differs from net income (loss) in that it excludes items such as int
Slide 20: Disclosure Regarding Non-GAAP and Adjusted Financial Measures (3 of 4)
Disclosure Regarding Non-GAAP and Adjusted Financial Measures (3 of 4) Depreciation. The Company excludes depreciation of fixed assets. Also included in the expense is the depreciation of capitalized software costs. Amortization of Purchased Intangibles. The Company views amortization of acquisition
Slide 21: Disclosure Regarding Non-GAAP and Adjusted Financial Measures (4 of 4)
Disclosure Regarding Non-GAAP and Adjusted Financial Measures (4 of 4) One-Time Expenses. The Company’s adjusted financial measures exclude the following costs to normalize comparable reporting periods, as these are generally non-recurring expenses that do not reflect the ongoing operational results
Slide 22: Appendix: Unaudited Supplemental Quarterly Financial Information
Appendix Unaudited Supplemental Quarterly Financial Information 22
Slide 23: Information Regarding Unaudited Supplemental Quarterly Financial Information
Information Regarding Unaudited Supplemental Quarterly Financial Information • The Unaudited Supplemental Quarterly Financial Information in the appendix of this presentation reflect Asure Software, Inc.’s (the “Company”) financial statements for the periods presented give effect in prior periods ce
Slide 24: Balance Sheets (Unaudited)
Balance Sheets (Unaudited) ($ in thousands) 24
Slide 25: Income Statements (Unaudited)
Income Statements (Unaudited) ($ in thousands) 25
Slide 26: Statements of Cash Flows (Unaudited)
Statements of Cash Flows (Unaudited) ($ in thousands) 26
Slide 27: Non-GAAP Reconciliation (Unaudited, 1 of 2)
Non-GAAP Reconciliation (Unaudited, 1 of 2) ($ in thousands) 27
Slide 28: Non-GAAP Reconciliation (Unaudited, 2 of 2)
Non-GAAP Reconciliation (Unaudited, 2 of 2) ($ in thousands) 28
Slide 29: Appendix: Reseller Roll-Up Modeling
Appendix Reseller Roll-Up Modeling 29
Slide 30: Acquisitive Growth | Reseller Roll-Up
Acquisitive Growth | Reseller Roll-Up ~$200M+ 200+ Resellers Reseller • Reseller’s top line is ~10 to 15x+ our license fees Markup • Highly accretive acquisitions • Clients already use Asure’s software ~$12M o No data conversion o No software migration Asure's Current Reseller’s Payroll o No user re
Slide 31: Appendix: Anatomy of Human Capital Management (HCM) Business
Appendix Anatomy of Human Capital Management (HCM) Business 31
Slide 32: One Platform, Smartly Architected for Scale
Anatomy of Human Capital Management (HCM) Business One Platform, Smartly Architected for Scale Decoupled Platform Serves Multiple Markets Payroll HCM DIRECT PAYROLL TAX DIRECT Full-suite HCM software and Large, multi-state enterprises Treasury services for small businesses face the same payroll tax
Slide 33: Payroll & HR Engine
Anatomy of Human Capital Management (HCM) Business Payroll & HR Engine Recruiting Payroll & HR Self-Service On-Demand Pay Automate job-board reach Businesses manage Employees manage data, Earned wage access, FDIC to win the war for talent payroll, benefits, and HR time, paystubs, W2, etc. account, V
Slide 34: Tax Engine
Anatomy of HCM Business Tax Engine Payroll Tax Management (PTM) HCM firms and complex, multi-state enterprises manage all aspects of payroll tax filing SUI Rate Notice File Schedule Exchange Tracking Taxes Liabilities Employee & Employer Tax Tax API Engine Tax Data Payroll Federal State Local Engine
Slide 35: Treasury Engine
Anatomy of HCM Business Treasury Engine Compliant Money Movement HCM firms and multi-state enterprises manage the impounding and disbursement of funds Impound ACH Emp Remit to Taxing Reconcile Client Funds Direct Deposit Agencies Cash Payroll Employee Pay Engine Treasury Engine API Federal State Loc
Slide 36: Marketplace | Monetizing HCM Data
Anatomy of HCM Business Marketplace | Monetizing HCM Data Today’s Data Set >100k Employers Earned 2M+ Employees Wage Banking Access Benefits Income Verification Retirement Life Events Wallet API www.asuresoftware.com www.asuresoftware.com 36 36