$PCTY
Paylocity Holding Corp

2024 Q4 Form 10-Q Financial Statement

#000159169824000277 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $363.0M $317.6M
YoY Change 14.29% 25.39%
Cost Of Revenue $115.0M $101.5M
YoY Change 13.3% 20.02%
Gross Profit $248.0M $216.1M
YoY Change 14.75% 28.08%
Gross Profit Margin 68.33% 68.05%
Selling, General & Admin $136.6M $130.3M
YoY Change 4.81% 7.21%
% of Gross Profit 55.08% 60.3%
Research & Development $47.26M $44.61M
YoY Change 5.95% 11.25%
% of Gross Profit 19.06% 20.64%
Depreciation & Amortization $21.55M $17.12M
YoY Change 25.88% 20.0%
% of Gross Profit 8.69% 7.92%
Operating Expenses $183.9M $174.9M
YoY Change 5.1% 8.22%
Operating Profit $64.14M $41.19M
YoY Change 55.73% 481.03%
Interest Expense -$400.0K
YoY Change
% of Operating Profit -0.62%
Other Income/Expense, Net $4.742M $3.225M
YoY Change 47.04% -2078.53%
Pretax Income $68.89M $44.41M
YoY Change 55.1% 541.26%
Income Tax $19.31M $9.897M
% Of Pretax Income 28.04% 22.28%
Net Earnings $49.57M $34.52M
YoY Change 43.62% 13.72%
Net Earnings / Revenue 13.66% 10.87%
Basic Earnings Per Share $0.89 $0.62
Diluted Earnings Per Share $0.88 $0.61
COMMON SHARES
Basic Shares Outstanding 55.75M shares 55.57M shares 55.92M shares
Diluted Shares Outstanding 56.27M shares 56.88M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $778.5M $305.0M
YoY Change 155.26% 365.76%
Cash & Equivalents $778.5M $305.0M
Short-Term Investments
Other Short-Term Assets $2.381B $2.565B
YoY Change -7.19% 10.17%
Inventory
Prepaid Expenses
Receivables $34.32M $30.11M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.296B $2.983B
YoY Change 10.51% 20.3%
LONG-TERM ASSETS
Property, Plant & Equipment $57.95M $63.34M
YoY Change -8.52% 3.93%
Goodwill $108.9M $102.1M
YoY Change 6.67% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.68M $22.30M
YoY Change 6.17% -56.21%
Total Long-Term Assets $728.5M $663.9M
YoY Change 9.74% 7.86%
TOTAL ASSETS
Total Short-Term Assets $3.296B $2.983B
Total Long-Term Assets $728.5M $663.9M
Total Assets $4.025B $3.647B
YoY Change 10.37% 17.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.04M $8.749M
YoY Change 83.32% 40.32%
Accrued Expenses $156.0M $131.7M
YoY Change 18.46% 24.35%
Deferred Revenue $27.42M $26.14M
YoY Change 4.9% 55.51%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.501B $2.672B
YoY Change -6.42% 10.81%
LONG-TERM LIABILITIES
Long-Term Debt $325.0M $0.00
YoY Change
Other Long-Term Liabilities $6.493M $3.584M
YoY Change 81.17% 4.58%
Total Long-Term Liabilities $6.493M $3.584M
YoY Change 81.17% 4.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.501B $2.672B
Total Long-Term Liabilities $6.493M $3.584M
Total Liabilities $2.919B $2.754B
YoY Change 5.98% 10.86%
SHAREHOLDERS EQUITY
Retained Earnings $723.0M $501.2M
YoY Change 44.26% 40.7%
Common Stock $56.00K $56.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.106B $892.6M
YoY Change
Total Liabilities & Shareholders Equity $4.025B $3.647B
YoY Change 10.37% 17.82%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $49.57M $34.52M
YoY Change 43.62% 13.72%
Depreciation, Depletion And Amortization $21.55M $17.12M
YoY Change 25.88% 20.0%
Cash From Operating Activities $91.46M $62.14M
YoY Change 47.17% 279.22%
INVESTING ACTIVITIES
Capital Expenditures $2.328M $3.454M
YoY Change -32.6% 0.2%
Acquisitions
YoY Change
Other Investing Activities $638.0K $406.0K
YoY Change 57.14% -100.53%
Cash From Investing Activities -$13.33M -$9.404M
YoY Change 41.73% -89.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$318.3M -$122.4M
YoY Change 160.04% -93.06%
NET CHANGE
Cash From Operating Activities $91.46M $62.14M
Cash From Investing Activities -$13.33M -$9.404M
Cash From Financing Activities -$318.3M -$122.4M
Net Change In Cash -$240.2M -$69.66M
YoY Change 244.75% -96.21%
FREE CASH FLOW
Cash From Operating Activities $91.46M $62.14M
Capital Expenditures $2.328M $3.454M
Free Cash Flow $89.13M $58.69M
YoY Change 51.87% 353.54%

Facts In Submission

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CY2024Q3 us-gaap Nature Of Operations
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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(1) Organization and Description of Business</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div>Paylocity Holding Corporation (the “Company”) is a cloud-based provider of human capital management and payroll software solutions that deliver a comprehensive platform for the modern workforce. Services are provided in a Software-as-a-Service (“SaaS”) delivery model. The Company’s comprehensive product suite delivers a unified platform that helps businesses attract and retain talent, build culture and connection with their employees, and streamline and automate HR and payroll processes.
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AllocatedShareBasedCompensationExpense
39005000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
33540000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4049000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3831000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
214976000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34517000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
49573000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56037000 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55640000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
844000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
626000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56881000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56266000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.89
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
82000 shares
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
50000 shares
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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