CINCINNATI - Paycor HCM , Inc. (NASDAQ:PYCR) reported better-than-expected fourth quarter revenue on Wednesday, sending shares up 5% in after-hours trading.
The human capital management software provider posted revenue of $164.8 million for the quarter ended June 30, 2024, up 18% YoY and surpassing analyst estimates of $161.6 million. However, the company reported a loss per share of $0.10, missing expectations for earnings of $0.09 per share.
Recurring revenue, which makes up the bulk of Paycor's top line, grew 17% YoY to $150.5 million.
"Paycor delivered revenue growth of 18% for the quarter and 19% for the year, propelled by strong execution against our strategic growth initiatives to add employees and expand PEPM," said CEO Raul Villar, Jr.
For fiscal 2025, Paycor expects revenue between $722 million and $729 million, representing 11% YoY growth at the high end. This outlook is roughly in line with Wall Street projections.
The company's adjusted operating income rose to $25 million from $15.4 million a year ago, with margins expanding to 15.2% from 11%.
"We continued winning market share by delivering substantial value through our robust, modern HCM solution that powers people and performance," Villar added.
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