Paycom Software (NYSE:PAYC) reports Q1 results that beat EPS and revenue estimates with a 29% Y/Y revenue growth. In-line Q2 guidance has revenue of $123M to $125M (consensus: $124.02M). Adjusted EBITDA expected from $43M to $45M.
FY18 guidance was raised to $545M to $547M in revenue (consensus: $543.95; was: $541M to $543M) with adjusted EBITDA from $220M to $222M (was: $213M to $215M)
Typically what you’ll see as you go way far upmarket, it’s the same thing you experience in low market. They use less of a full solution.
Likewise, if you’re going small business, it’s more referral based, and they might only need one of your products. Well, our value proposition is we have 29 modules and 1 database … the value proposition there starts to break down if you go too high up-market or too low down-market.
t’s well over a $20 billion opportunity for us, and so that’s what we’re focused on is that mid-market.
Paycom is laser focused on the sweet spot for them, ,growing at a nice Steady Eddie rate , a very large TAM in that mid market, ,actually making money now. One of my favorites.
First Quarter Revenues of $153.9 million, up 29% from comparable prior year period
First Quarter Non-GAAP Net Income of $55.8 million, or $0.95 per diluted share, up 57% from comparable year period, as adjusted