Paylocity Holding Corp
paylocity.comPaylocity Holding Corp (NASDAQ: PCTY) is a cloud-based human capital management (HCM), payroll, and spend management software company that sells subscription solutions to mid-market businesses. Revenue comes primarily from recurring subscription fees structured as a base fee plus per-employee, per-product charges, supplemented by interest income earned on funds held for clients during payroll processing. In FY2025 (year ended June 30, 2025), recurring and other revenue was $1,471.8 million (92% of total revenue), up 15% year-over-year, while interest income on funds held for clients was $123.4 million (8% of total revenue). The company's average client size was over 150 employees as of the FY2025 10-K filing. Paylocity expanded into spend management through the October 2024 acquisition of Airbase Inc., adding accounts payable automation, corporate cards, and procurement capabilities. The company does not pay dividends. Its platform serves more than 41,650 clients, according to the FY2025 10-K filed August 6, 2025.
Products & Services
Cloud-based HCM and payroll platform including: payroll processing, HR administration, recruiting, onboarding, scheduling, compensation management, benefit enrollment and administration, third-party administrative (TPA) solutions, expense management, accounts payable automation (via Airbase acquisition, October 2024), corporate cards, procurement, recognition and rewards, employee voice and sentiment tools, and the Modern Workforce Index (AI-based HR intelligence dashboard). Mobile-friendly interface with AI-powered features including Benefit Decision Support and AI-generated sentiment summaries.
Revenue Model
Subscription fees (recurring and other revenue, 92% of total in FY2025) structured as a base fee plus per-employee and per-product charges. Additional revenue from W-2 preparation, annual required filings, and implementation fees. Interest income on client payroll funds held in transit (8% of total revenue in FY2025). Agreements are generally cancellable on 60 days' notice; term agreements are typically two years.
Customers & Markets
Mid-market businesses with an average client size of over 150 employees (as of FY2025 10-K). Platform data covers more than 41,650 clients. End markets span all industries requiring HR, payroll, and workforce management. No customer concentration data disclosed in the filing excerpts.
Geographic Exposure
No geographic revenue breakdown disclosed in the filing excerpts.
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