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Paycor HCM (NASDAQ: PYCR), a major North American partner of Grosvenor Technology, has just announced its fourth quarter & full year results today, after close of the US markets.
And both should buoy the confidence of NWT shareholders:-
"Paycor Announces Fourth Quarter and Fiscal Year 2023 Financial Results
August 16, 2023 at 4:15 PM EDT
• Total revenues of $140.0 million, an increase of 26% year-over-year, while expanding margins
• Q4 Recurring revenue of $129.0 million, an increase of 18% year-over-year
• FY’23 Total revenues of $552.7 million, an increase of 29% year-over-year
• FY’24 revenue guidance of $644 - $650 million, an increase of 18% year-over-year at the top end of the range
CINCINNATI, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, today announced financial results for the fourth quarter and full fiscal year 2023, which ended June 30, 2023.
“Paycor delivered strong revenue growth of 26% for the quarter and 29% for the year, driven by continued robust demand for our open, modern HCM solution,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “Our team executed exceptionally well against our strategic growth initiatives, namely increasing Tier 1 sales coverage to 36% and expanding effective PEPM by 11% this year.”
“We are proud of the operational performance across the business, which delivered nearly 400 basis points of margin expansion year-over-year and positive adjusted free cash flow while continuing to invest in innovative technologies that empower frontline leaders. We are demonstrating the scalability of our business model and believe there is significant opportunity to drive further leverage.”
Fourth Quarter Fiscal Year 2023 Financial Highlights
• Total revenues were $140.0 million, compared to $111.0 million for the fourth quarter of fiscal year 2022.
• Operating loss was $31.7 million, compared to $30.1 million for the fourth quarter of fiscal year 2022.
• Adjusted operating income* was $15.4 million, compared to $9.2 million for the fourth quarter of fiscal year 2022.
• Net loss attributable to Paycor HCM was $29.4 million, compared to $23.8 million for the fourth quarter of fiscal year 2022.
• Adjusted net income attributable to Paycor HCM* was $13.4 million, compared to $6.9 million for the fourth quarter of fiscal year 2022.
*Adjusted operating income and adjusted net income attributable to Paycor HCM are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures. ..."
https://investors.paycor.com/news-releases/news-release-details/paycor-announces-fourth-quarter-and-fiscal-year-2023-financial
"Paycor Announces Fourth Quarter and Fiscal Year 2023 Financial Results
... Fourth Quarter and Recent Business Highlights
• Launched Paycor Engage, which combines several employee engagement tools into a single platform to elevate how leaders communicate with and motivate their team. The new solution empowers leaders to share company news, communicate with teams and recognize employees across mobile and web applications.
• Introduced an AI-enabled Job Description generator, further strengthening the Company’s suite of artificial intelligence solutions, such as Paycor Smart Sourcing and Predictive Resignation. Based on job title and required experience, the integrated solution creates compelling job descriptions, empowering leaders to attract and hire top talent faster than ever before.
Fiscal Year 2023 Financial Highlights
• Total revenues were $552.7 million, compared to $429.4 million for the fiscal year 2022.
• Operating loss was $104.7 million, compared to $139.6 million for fiscal year 2022.
• Adjusted operating income* was $82.6 million, compared to $47.5 million for fiscal year 2022.
• Net loss attributable to Paycor HCM was $93.2 million, compared to $119.6 million for fiscal year 2022.
• Adjusted net income attributable to Paycor HCM* was $66.8 million, compared to $35.9 million for fiscal year 2022.
*Adjusted operating income and adjusted net income attributable to Paycor HCM are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures.
Business Outlook
Based on information as of today, August 16, 2023, Paycor is issuing the following financial guidance:
First Quarter Ending September 30, 2023:
• Total revenues in the range of $138 - $140 million.
• Adjusted operating income* in the range of $9 - $10 million.
Fiscal Year Ending June 30, 2024:
• Total revenues in the range of $644 - $650 million.
• Adjusted operating income* in the range of $97 - $100 million.
*We are unable to reconcile forward-looking adjusted operating income to forward-looking loss from operations, the most closely comparable GAAP financial measure, because the information needed to provide a complete reconciliation is unavailable at this time without unreasonable effort.
Conference Call Information
Paycor will host a conference call today, August 16, 2023, at 5:00 p.m. Eastern Time to discuss its financial results and guidance. To access this call, dial 1-877-407-4018 (domestic) or 1-201-689-8471 (international). The access code is 13736723. A live webcast and replay of the event will be available on the Paycor Investor Relations website at investors.paycor.com. ..."
https://investors.paycor.com/news-releases/news-release-details/paycor-announces-fourth-quarter-and-fiscal-year-2023-financial