PAYCOR HCM, INC.
investors.paycor.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2025 10-Q, filed Feb 6, 2025. Its latest SEC filing is a 15-12G from Apr 24, 2025.
10-Q for Q2 FY2025, filed Feb 6, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Sells cloud-based human resources, payroll and talent software to small and medium-sized businesses.
10-K for FY2024, filed Aug 22, 2024
How Did They Make Money?
Customers pay per employee each month or per payroll for cloud payroll, workforce management and HR services. The first client invoice typically includes an implementation fee; Paycor also earns interest on client funds held before remittance.
10-K for FY2024, filed Aug 22, 2024Recurring fees are derived from payroll, workforce management, and HR-related cloud-based computing services. The majority of the Company’s…View ↗
The nonrefundable upfront fees related to implementation services are typically included on the client’s first invoice. Implementation fees…View ↗
Interest on funds held for clients is earned primarily on funds that are collected from clients before due dates for payroll tax…View ↗
$654.9M
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10-K for FY2024, filed Aug 23, 2024
$654.9M ↗
Who Were Their Customers?
Small and medium-sized businesses with tens to thousands of employees buy Paycor's solutions through direct sales; embedded technology and service partners extend its distribution. Benefits brokers, financial advisors, financial institutions and HR consultants also refer prospective customers.
10-K for FY2024, filed Aug 22, 2024We market and sell our solutions through direct and indirect sales teams. We target small and medium-sized businesses with tens to…View ↗
We sell our solutions through direct and indirect sales teams. Our direct sales team is comprised of field sales, insides sales and client…View ↗
A core component of our sales and marketing strategy is developing and maintaining partnerships with key centers of influence (“COIs”)…View ↗
Did Revenues Turn Into Profits?
No. It lost $58.9M in FY2024.
10-K for FY2024, filed Aug 23, 2024
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2025, filed Feb 7, 2025
−$2MView ↗
- ▼ −92% (Loss)
- vs −$26.2M in Q2 FY2024
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Apr 14, 2025
Paychex completed its acquisition of Paycor
Paycor became an indirect wholly owned subsidiary, and its stock was suspended from Nasdaq trading.
Sources
8-K, filed Apr 14, 2025
In connection with the closing of the Merger, the Company notified the Nasdaq Stock Market (Global Select Market) (the “Nasdaq”) on April…View ↗
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Feb 27, 2025
A major regulatory condition for the Paychex merger was met
The waiting period expired, though the merger remained subject to other closing conditions.
Sources
8-K, filed Feb 27, 2025
The consummation of the Merger (the “Closing”) is subject to certain customary mutual conditions, including the expiration or termination…View ↗
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Jan 7, 2025
Paychex agreed to acquire Paycor in an all-cash merger
The agreement set cash consideration at $22.50 per share.
Sources
8-K, filed Jan 7, 2025
Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each…View ↗
Grew. Revenue grew 100% in 4 years, from $327.9M in FY2020 to $654.9M in FY2024, about 19% a year.
Broader employee-size range
Paycor's target market has broadened from companies with a narrower employee-size range to small and medium-sized businesses with tens to thousands of employees.
10-K for FY2021, filed Sep 2, 2021 10-K for FY2024, filed Aug 22, 2024We market and sell our solutions through direct sales teams, leveraging our strong demand generation engine and broker partnerships. We…View ↗
We market and sell our solutions through direct and indirect sales teams. We target small and medium-sized businesses with tens to…View ↗
Embedded distribution
Alongside direct sales and broker relationships, Paycor added an Embedded HCM Solution delivered through technology and service partnerships to extend distribution.
10-K for FY2021, filed Sep 2, 2021 10-K for FY2024, filed Aug 22, 2024We market and sell our solutions through direct sales teams, leveraging our strong demand generation engine and broker partnerships. We…View ↗
Who Did They Compete With?
Competes with ADP, Paychex, UKG, Paylocity, and Paycom
10-K for FY2024, filed Aug 22, 2024The market for HCM and payroll solutions is fragmented and highly competitive. Our competitors vary for each of our solutions and include…View ↗
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