Paylocity reports Q2 EPS $1.49, consensus $1.28

Reports Q2 revenue $326.36M, consensus $324.71M. “Our differentiated value proposition of providing the most modern software in the industry continues to resonate in the marketplace as we saw total revenue growth of 20% and recurring revenue growth of 16% in Q2 of fiscal 24. We continue to receive positive client feedback on our modern product suite, including newer products such as Advanced Scheduling, Learning Management, Rewards & Recognition, and Employee Voice. We also extended our AI leadership in the HCM industry with the launch of AI-driven personalized learning plans, optimized workforce schedules, and embedded generative AI within Rewards & Recognition and Performance Management to improve communication between employees and their managers. Paylocity’s commitment to product innovation was also recently recognized with the Bronze Brandon Hall Group Excellence in Technology Award in the Best Advance in Employee Engagement Technology category, and we were named an overall leader in 10 HCM product categories in G2’s Winter 2023 Grid Reports, marking the 21st consecutive quarter in which Paylocity achieved leader ranking,” said Steve Beauchamp, Co-Chief Executive Officer of Paylocity.