PAYLOCITY HOLDING CORPORATION PCTY Income Statement

Paylocity holding corporation (PCTY)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Mar'13
Revenues:
Recurring and other revenue
167,095	127,980	121,873	114,656	133,355	102,739	97,002	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income on funds held for clients
4,551	4,394	4,847	5,717	6,197	4,465	3,502	2,974	2,719	1,783	1,617	1,142	1,041	731	717	742	803	615	528	547	601	390	363	360	491	378	353	447
Total recurring revenues
-	-	-	-	-	-	-	92,963	108,576	83,075	78,911	73,378	86,355	66,078	62,637	57,784	67,082	52,347	42,891	38,183	43,936	32,445	29,505	27,120	31,210	22,523	21,091	22,271
Total revenues
171,646	132,374	126,720	120,373	139,552	107,204	100,504	96,616	113,407	86,004	81,500	76,061	90,273	68,654	65,022	59,839	70,570	55,184	45,108	40,004	47,272	34,313	31,109	28,647	33,766	23,905	22,369	24,006
Cost of revenues:
Cost of revenues
48,081	45,424	42,630	40,094	39,745	38,070	35,942	38,746	38,652	36,840	34,959	33,163	32,082	30,383	28,359	26,581	27,209	24,100	20,195	18,116	19,282	18,046	15,452	15,104	14,925	13,318	11,747	10,734
Gross profit
123,565	86,950	84,090	80,279	99,807	69,134	64,562	57,870	74,755	49,164	46,541	42,898	58,191	38,271	36,663	33,258	43,361	31,084	24,913	21,888	27,990	16,267	15,657	13,543	18,841	10,587	10,622	13,272
Operating expenses:
Sales and marketing
37,801	37,293	36,957	31,912	27,699	26,570	26,418	26,702	26,004	21,598	21,180	20,518	21,242	17,735	18,011	17,361	17,681	14,340	12,450	11,883	12,673	9,401	9,078	8,986	8,678	5,423	5,189	5,888
Research and development
15,612	15,410	14,394	13,443	12,688	12,798	11,400	10,418	9,058	9,274	8,895	7,606	6,969	7,222	7,301	7,749	6,759	6,799	5,429	5,513	5,053	5,271	4,027	3,609	2,443	2,347	1,956	1,852
General and administrative
22,411	28,133	26,739	25,715	23,208	22,739	22,968	25,914	19,228	18,159	15,951	18,208	15,100	14,957	13,858	13,188	12,720	11,239	10,451	8,756	8,559	8,061	7,448	7,254	5,587	5,228	3,911	2,928
Total operating expenses
75,824	80,836	78,090	71,070	63,595	62,107	60,786	63,034	54,290	49,031	46,026	46,332	43,311	39,914	39,170	38,298	37,160	32,378	28,330	26,152	26,285	22,733	20,553	19,849	16,708	12,998	11,056	10,668
Operating income
47,741	6,114	6,000	9,209	36,212	7,027	3,776	-5,164	20,465	133	515	-3,434	14,880	-1,643	-2,507	-5,040	6,201	-1,294	-3,417	-4,264	1,705	-6,466	-4,896	-6,306	2,133	-2,411	-434	2,604
Other income
435	285	474	667	540	346	269	337	215	141	109	77	-47	4	39	-338	-83	214	83	-126	51	80	49	54	59	22	28	-8
Income before income taxes
48,176	6,399	6,474	9,876	36,752	7,373	4,045	-4,827	20,680	274	624	-3,357	14,833	-1,639	-2,468	-5,378	6,118	-1,080	-3,334	-4,390	1,756	-6,386	-4,847	-6,252	2,192	-2,389	-406	2,596
Income tax expense
8,044	932	-7,432	-365	8,726	1,669	-5,807	-3,274	-18,497	-157	81	487	32	32	100	34	-43	85	101	39	4	34	28	452	1,042	-877	-362	575
Net income
40,132	5,467	13,906	10,241	28,026	5,704	9,852	-1,553	39,177	431	543	-3,844	14,801	-1,671	-2,568	-5,412	6,161	-1,165	-3,435	-4,429	1,752	-6,420	-4,875	-6,704	1,150	-1,512	-44	2,021
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on securities, net of tax
-182	-36	4	90	161	-15	15	32	-61	-105	-5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other comprehensive income (loss), net of tax
-182	-36	4	90	161	-15	15	32	-61	-105	-5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income
39,950	5,431	13,910	10,331	28,187	5,689	9,867	-1,521	39,116	326	538	-3,844	14,801	-1,671	-2,568	-	-	-	-	-	-	-	-	-6,704	430	-2,293	-825	1,294
Net income per share:
Basic (in dollars per share)
0.75	0.10	0.26	0.19	0.53	0.11	0.19	-0.02	0.74	0.01	0.01	-0.08	0.29	-0.03	-0.05	-0.11	0.12	-0.02	-0.07	-0.08	0.03	-0.13	-0.10	-	0.01	-	-	-
Diluted (in dollars per share)
0.72	0.10	0.25	0.18	0.51	0.10	0.18	-0.03	0.71	0.01	0.01	-0.07	0.27	-0.03	-0.05	-0.11	0.12	-0.02	-0.07	-0.08	0.03	-0.13	-0.10	-	0.01	-	-	-
Weighted-average shares used in computing net income per share:
Basic (in shares)
53,629	53,542	53,287	53,015	52,934	52,842	52,865	52,690	52,615	52,502	51,893	51,598	51,447	51,384	51,231	51,056	50,962	50,890	50,744	50,634	50,533	49,775	49,566	-	44,360	-	-	43,921
Diluted (in shares)
55,953	55,826	55,713	55,623	55,465	55,081	55,487	55,090	55,030	54,818	54,610	59,611	54,002	51,384	51,231	48,594	53,424	50,890	50,744	48,964	52,203	49,775	49,566	-	44,870	-	-	44,407
Net loss per share attributable to common stockholders, basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.07	-0.03	0.03
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,988	31,988	-
Recurring fees
Revenues from Contracts
-	-	-	-	-	-	-	89,989	105,857	81,292	77,294	72,236	85,314	65,347	61,920	57,042	66,279	51,732	42,363	37,636	43,335	32,055	29,142	26,760	30,719	22,145	20,738	21,824
Total cost of revenues
-	-	-	-	-	-	-	27,298	26,982	25,638	24,091	23,144	22,436	20,716	19,103	18,273	18,576	16,125	13,157	11,750	12,606	11,953	10,057	9,999	10,246	9,081	7,993	7,896
Implementation services and other
Revenues from Contracts
-	-	-	-	-	-	-	3,653	4,831	2,929	2,589	2,683	3,918	2,576	2,385	2,055	3,488	2,837	2,217	1,821	3,336	1,868	1,604	1,527	2,556	1,382	1,278	1,735
Total cost of revenues
-	-	-	-	-	-	-	11,448	11,670	11,202	10,868	10,019	9,646	9,667	9,256	8,308	8,633	7,975	7,038	6,366	6,676	6,093	5,395	5,105	4,679	4,237	3,754	2,838