$PCTY
Paylocity Holding Corp

2020 Q2 Form 10-K Financial Statement

#000155837020009960 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $130.6M $120.4M $139.6M
YoY Change 8.49% 24.61% 23.06%
Cost Of Revenue $45.90M $40.10M $39.75M
YoY Change 14.46% 3.62% 2.7%
Gross Profit $84.71M $80.28M $99.81M
YoY Change 5.52% 38.65% 33.43%
Gross Profit Margin 64.87% 66.69% 71.52%
Selling, General & Admin $60.20M $57.60M $50.91M
YoY Change 4.51% 9.51% 12.63%
% of Gross Profit 71.06% 71.75% 51.01%
Research & Development $17.40M $13.40M $12.69M
YoY Change 29.85% 28.85% 39.43%
% of Gross Profit 20.54% 16.69% 12.71%
Depreciation & Amortization $10.10M $9.400M $3.626M
YoY Change 7.45% -2.08% -49.64%
% of Gross Profit 11.92% 11.71% 3.63%
Operating Expenses $77.60M $71.10M $63.60M
YoY Change 9.14% 12.68% 17.33%
Operating Profit $6.316M $9.209M $36.21M
YoY Change -31.41% -277.1% 75.79%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$200.0K $700.0K $540.0K
YoY Change -128.57% 133.33% 170.0%
Pretax Income $6.100M $9.900M $36.75M
YoY Change -38.38% -306.25% 77.55%
Income Tax $1.100M -$400.0K $8.726M
% Of Pretax Income 18.03% -4.04% 23.74%
Net Earnings $4.950M $10.24M $28.03M
YoY Change -51.66% -740.06% -28.51%
Net Earnings / Revenue 3.79% 8.51% 20.08%
Basic Earnings Per Share $0.09 $0.19 $0.53
Diluted Earnings Per Share $0.09 $0.18 $0.51
COMMON SHARES
Basic Shares Outstanding 53.73M 53.02M 52.93M
Diluted Shares Outstanding 55.97M 55.69M 55.47M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $285.4M $161.8M $139.0M
YoY Change 76.41% 17.92% 7.34%
Cash & Equivalents $250.9M $132.5M $90.86M
Short-Term Investments $34.56M $29.31M $48.20M
Other Short-Term Assets $1.341B $1.408B $1.744B
YoY Change -4.82% 13.8% 27.84%
Inventory
Prepaid Expenses
Receivables $4.923M $4.358M $24.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.663B $1.596B $1.908B
YoY Change 4.2% 15.82% 27.43%
LONG-TERM ASSETS
Property, Plant & Equipment $66.74M $70.06M $64.90M
YoY Change -4.74% 12.99% 28.77%
Goodwill $21.66M $9.590M
YoY Change 125.81%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.900M $8.400M $2.800M
YoY Change 17.86% -64.41% -85.93%
Total Long-Term Assets $322.5M $207.8M $186.9M
YoY Change 55.23% 60.55% 64.67%
TOTAL ASSETS
Total Short-Term Assets $1.663B $1.596B $1.908B
Total Long-Term Assets $322.5M $207.8M $186.9M
Total Assets $1.986B $1.804B $2.095B
YoY Change 10.07% 19.66% 30.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.755M $3.954M $5.300M
YoY Change -55.61% 31.8% 120.83%
Accrued Expenses $79.88M $57.63M $43.20M
YoY Change 38.62% 36.55% 21.69%
Deferred Revenue $8.777M $5.572M
YoY Change 57.52%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.409B $1.456B $1.776B
YoY Change -3.24% 14.58% 28.19%
LONG-TERM LIABILITIES
Long-Term Debt $100.0M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.747M $1.723M $31.80M
YoY Change 1.39% -92.79% 51.43%
Total Long-Term Liabilities $1.747M $1.723M $31.80M
YoY Change 1.39% -92.79% 51.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.409B $1.456B $1.776B
Total Long-Term Liabilities $1.747M $1.723M $31.80M
Total Liabilities $1.593B $1.496B $1.809B
YoY Change 6.47% 15.54% 28.62%
SHAREHOLDERS EQUITY
Retained Earnings $164.3M $99.82M
YoY Change 64.57%
Common Stock $54.00K $53.00K
YoY Change 1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $392.9M $308.0M $286.2M
YoY Change
Total Liabilities & Shareholders Equity $1.986B $1.804B $2.095B
YoY Change 10.07% 19.66% 30.05%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $4.950M $10.24M $28.03M
YoY Change -51.66% -740.06% -28.51%
Depreciation, Depletion And Amortization $10.10M $9.400M $3.626M
YoY Change 7.45% -2.08% -49.64%
Cash From Operating Activities $25.90M $35.80M $44.90M
YoY Change -27.65% 25.17% 27.92%
INVESTING ACTIVITIES
Capital Expenditures -$8.500M -$7.100M -$7.300M
YoY Change 19.72% -56.97% 28.07%
Acquisitions
YoY Change
Other Investing Activities $143.1M $38.00M -$21.50M
YoY Change 276.58% -171.03% -106.71%
Cash From Investing Activities $134.5M $30.90M -$28.80M
YoY Change 335.28% -144.14% -109.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -302.8M -328.2M 460.7M
YoY Change -7.74% 170.79% -38491.67%
NET CHANGE
Cash From Operating Activities 25.90M 35.80M 44.90M
Cash From Investing Activities 134.5M 30.90M -28.80M
Cash From Financing Activities -302.8M -328.2M 460.7M
Net Change In Cash -142.4M -261.5M 476.8M
YoY Change -45.54% 60.82% 36.7%
FREE CASH FLOW
Cash From Operating Activities $25.90M $35.80M $44.90M
Capital Expenditures -$8.500M -$7.100M -$7.300M
Free Cash Flow $34.40M $42.90M $52.20M
YoY Change -19.81% -4.88% 27.94%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">(1) Organization and Description of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Paylocity Holding Corporation (the “Company”) is a cloud-based provider of payroll and human capital management software solutions for medium-sized organizations. Services are provided in a Software-as-a-Service (“SaaS”) delivery model utilizing the Company’s cloud-based platform. The Company’s comprehensive product suite delivers a unified platform that allows clients to make strategic decisions in the areas of payroll, core HR, workforce management, talent and benefits.<span style="white-space:pre-wrap;"> </span></p>
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47601000
CY2020Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2019Q2 pcty Cash And Cash Equivalents Amortized Cost
CashAndCashEquivalentsAmortizedCost
132478000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132476000
CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents Amortized Cost
FundsHeldForClientsCashAndCashEquivalentsAmortizedCost
1293673000
CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents Gross Unrealized Losses
FundsHeldForClientsCashAndCashEquivalentsGrossUnrealizedLosses
6000
CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1293667000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
911000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
123177000
CY2020Q2 pcty Investments Amortized Cost
InvestmentsAmortizedCost
1614399000
CY2020Q2 pcty Investments Accumulated Gross Unrealized Gain Before Tax
InvestmentsAccumulatedGrossUnrealizedGainBeforeTax
911000
CY2020Q2 us-gaap Investments
Investments
1615310000
CY2019Q2 pcty Cash And Cash Equivalents Gross Unrealized Losses
CashAndCashEquivalentsGrossUnrealizedLosses
2000
CY2019Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
130665000
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
168000
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
9000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
130824000
CY2019Q2 pcty Investments Amortized Cost
InvestmentsAmortizedCost
1556816000
CY2019Q2 pcty Investments Accumulated Gross Unrealized Gain Before Tax
InvestmentsAccumulatedGrossUnrealizedGainBeforeTax
168000
CY2019Q2 pcty Investments Accumulated Gross Unrealized Loss Before Tax
InvestmentsAccumulatedGrossUnrealizedLossBeforeTax
17000
CY2019Q2 us-gaap Investments
Investments
1556967000
CY2020Q2 pcty Cash And Cash Equivalents Amortized Cost
CashAndCashEquivalentsAmortizedCost
250851000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
250851000
CY2020Q2 pcty Funds Held For Clients Cash And Cash Equivalents Amortized Cost
FundsHeldForClientsCashAndCashEquivalentsAmortizedCost
1241282000
CY2020Q2 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1241282000
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
122266000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132476000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
250851000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
29314000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
34556000
CY2019Q2 us-gaap Funds Held For Clients
FundsHeldForClients
1394469000
CY2020Q2 us-gaap Funds Held For Clients
FundsHeldForClients
1327304000
CY2019Q2 pcty Investments Classified As Long Term Prepaid Expenses And Other
InvestmentsClassifiedAsLongTermPrepaidExpensesAndOther
708000
CY2020Q2 pcty Investments Classified As Long Term Prepaid Expenses And Other
InvestmentsClassifiedAsLongTermPrepaidExpensesAndOther
2599000
CY2019Q2 us-gaap Investments
Investments
1556967000
CY2020Q2 us-gaap Investments
Investments
1615310000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
20941000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
5000
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
6659000
CY2019Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
9000
CY2019Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
27600000
CY2020Q2 us-gaap Investments
Investments
1615310000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
106647000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
107293000
CY2020Q2 pcty Available For Sale Securities Debt Maturities One Year To Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesOneYearToTwoYearsAmortizedCost
15619000
CY2020Q2 pcty Available For Sale Securities Debt Maturities One Year To Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesOneYearToTwoYearsFairValue
15884000
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
122266000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
123177000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132476000
CY2019Q2 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1293667000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
130824000
CY2019Q2 us-gaap Investments
Investments
1556967000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
250851000
CY2020Q2 pcty Funds Held For Clients Cash And Cash Equivalents
FundsHeldForClientsCashAndCashEquivalents
1241282000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
123177000
CY2019Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
90991000
CY2020Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
119178000
CY2019Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
63505000
CY2020Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
82677000
CY2019Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
27486000
CY2020Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
36501000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
108422000
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
118046000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
38366000
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
51309000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
70056000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
66737000
CY2018 us-gaap Depreciation
Depreciation
14192000
CY2019 us-gaap Depreciation
Depreciation
15392000
CY2020 us-gaap Depreciation
Depreciation
16129000
CY2019Q2 us-gaap Goodwill
Goodwill
9590000
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
12065000
CY2020Q2 us-gaap Goodwill
Goodwill
21655000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
18730000
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23862000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7979000
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10502000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10751000
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13360000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1695000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2251000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2523000
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3377000
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3358000
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3185000
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2232000
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1208000
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13360000
CY2019Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
39095000
CY2020Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
53284000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1482000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8083000
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5572000
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8777000
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11476000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9737000
CY2019Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
57625000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
79881000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
9686000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
40000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
3167000
CY2020 us-gaap Lease Cost
LeaseCost
12893000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
48658000
CY2020Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
8083000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
73299000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y3M25D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0383
CY2020 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
10374000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3123000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10978000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9700000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9324000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9307000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9246000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
50967000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
99522000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
18140000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
81382000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
8242000
CY2019 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
9752000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
10449000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
11150000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
9500000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
8840000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
8838000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
59401000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
108178000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
294000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
364000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
90000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-92000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-15167000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
5449000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
403000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-7338000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1316000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2352000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-21847000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4223000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2663000
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.276
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.276
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 pcty Effective Income Tax Rate Reconciliation Tax Credit Research And Development Net
EffectiveIncomeTaxRateReconciliationTaxCreditResearchAndDevelopmentNet
-0.066
CY2019 pcty Effective Income Tax Rate Reconciliation Tax Credit Research And Development Net
EffectiveIncomeTaxRateReconciliationTaxCreditResearchAndDevelopmentNet
-0.030
CY2020 pcty Effective Income Tax Rate Reconciliation Tax Credit Research And Development Net
EffectiveIncomeTaxRateReconciliationTaxCreditResearchAndDevelopmentNet
-0.032
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.046
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.013
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.016
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1.360
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.052
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.515
CY2018 pcty Effective Income Tax Rate Reconciliation Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationShareBasedCompensationCost
-0.583
CY2019 pcty Effective Income Tax Rate Reconciliation Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationShareBasedCompensationCost
-0.104
CY2020 pcty Effective Income Tax Rate Reconciliation Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationShareBasedCompensationCost
-0.183
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.135
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.020
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.018
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.304
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.073
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.040
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.073
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.040
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
58046000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
67118000
CY2019Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
1963000
CY2020Q2 pcty Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
21041000
CY2019Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
4344000
CY2020Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
9915000
CY2019Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
10373000
CY2020Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13351000
CY2019Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9980000
CY2020Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13596000
CY2019Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
11977000
CY2020Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
16714000
CY2019Q2 pcty Deferred Tax Assets Intangible Assets
DeferredTaxAssetsIntangibleAssets
385000
CY2019Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
39022000
CY2020Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
74617000
CY2019Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
502000
CY2020Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3967000
CY2019Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
38520000
CY2020Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
70650000
CY2019Q2 pcty Deferred Tax Liabilities Deferred Contract Costs
DeferredTaxLiabilitiesDeferredContractCosts
27116000
CY2020Q2 pcty Deferred Tax Liabilities Deferred Contract Costs
DeferredTaxLiabilitiesDeferredContractCosts
41229000
CY2020Q2 pcty Deferred Tax Liabilities Operating Lease Right Of Use Assets
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets
12607000
CY2019Q2 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Research And Development Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts
6294000
CY2020Q2 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Research And Development Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts
8563000
CY2020Q2 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
781000
CY2019Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
5581000
CY2020Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
11269000
CY2019Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
38991000
CY2020Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
74449000
CY2019Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
471000
CY2020Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
3799000
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-22771000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018 pcty Tax Cuts And Jobs Act Accounting Change In Tax Rate Deferred Tax Asset Income Tax Expense
TaxCutsAndJobsActAccountingChangeInTaxRateDeferredTaxAssetIncomeTaxExpense
8626000
CY2018Q4 us-gaap Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentIncomeTaxExpenseBenefit
0
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
30354000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
38765000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
47493000
CY2018 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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2024000
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