Paylocity Holding Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Paylocity Holding Corp. filed its Q3 2024 10-Q report on May 3, 2024, detailing financial performance for the period ending March 31, 2024.</b>

AI Summary

Paylocity Holding Corp (PCTY) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Paylocity Holding Corp. filed its quarterly report (10-Q) on May 3, 2024, for the period ending March 31, 2024. The filing covers the third quarter of the fiscal year. The company's fiscal year ends on June 30. Paylocity Holding Corp. is incorporated in Delaware. The company's primary business is in Prepackaged Software (SIC 7372).

Why It Matters

For investors and stakeholders tracking Paylocity Holding Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for Paylocity Holding Corp., crucial for assessing recent performance and future outlook. Understanding the details within this report allows stakeholders to evaluate the company's financial health, revenue streams, and any potential risks or opportunities.

Risk Assessment

Risk Level: low — Paylocity Holding Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative disclosures.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Paylocity's revenue growth, profitability, and any forward-looking statements.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 0630 — Fiscal Year End (FISCAL YEAR END)
• 7372 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• Paylocity Holding Corp. (company) — FILER
• PCTY (company) — ticker symbol
• 10-Q (document) — FORM TYPE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-03 (date) — FILED AS OF DATE
• DE (jurisdiction) — STATE OF INCORPORATION
• 7372 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• 1934 Act (regulation) — SEC ACT

FAQ

Industry Context

Paylocity Holding Corp. operates in the software industry, specifically focusing on prepackaged software solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue trends and profitability.
2. Review any disclosed risk factors or management commentary.
3. Compare key metrics to previous periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024. Previous filings would need to be consulted for direct comparison.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PCTY The NASDAQ Global Select

Filing Documents

• pcty-20240331.htm (10-Q) — 1308KB
• pcty-20240331x10qex311.htm (EX-31.1) — 10KB
• pcty-20240331x10qex312.htm (EX-31.2) — 10KB
• pcty-20240331x10qex313.htm (EX-31.3) — 10KB
• pcty-20240331x10qex321.htm (EX-32.1) — 5KB
• pcty-20240331x10qex322.htm (EX-32.2) — 5KB
• pcty-20240331x10qex323.htm (EX-32.3) — 5KB
• 0001591698-24-000100.txt (&nbsp;) — 7107KB
• pcty-20240331.xsd (EX-101.SCH) — 42KB
• pcty-20240331_cal.xml (EX-101.CAL) — 74KB
• pcty-20240331_def.xml (EX-101.DEF) — 236KB
• pcty-20240331_lab.xml (EX-101.LAB) — 625KB
• pcty-20240331_pre.xml (EX-101.PRE) — 428KB
• pcty-20240331_htm.xml (XML) — 1125KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Unaudited Consolidated Balance Sheets 2 Unaudited Consolidated Statements of Operations and Comprehensive Income 3 Unaudited Consolidated Statement of Changes in Stockholders' Equity 4 Unaudited Consolidated Statements of Cash Flows 5 Notes to the Unaudited Consolidated Financial Statements 6

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 32

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 33

OTHER INFORMATION

PART II. OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 34

RISK FACTORS

ITEM 1A. RISK FACTORS 34

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 34

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 34

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 34

OTHER INFORMATION

ITEM 5. OTHER INFORMATION 35

EXHIBITS

ITEM 6. EXHIBITS 36

SIGNATURES

SIGNATURES 37 1 Table of Contents PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PAYLOCITY HOLDING CORPORATION Unaudited Consolidated Balance Sheets (in thousands, except per share data) June 30, 2023 March 31, 2024 Assets Current assets: Cash and cash equivalents $ 288,767 $ 492,695 Accounts receivable, net 25,085 33,714 Deferred contract costs 78,109 92,450 Prepaid expenses and other 35,061 36,476 Total current assets before funds held for clients 427,022 655,335 Funds held for clients 2,621,415 3,591,198 Total current assets 3,048,437 4,246,533 Capitalized internal-use software, net 86,127 110,681 Property and equipment, net 64,069 60,773 Operating lease right-of-use assets 44,067 35,705 Intangible assets, net 34,527 30,868 Goodwill 102,054 108,527 Long-term deferred contract costs 294,222 333,393 Longterm prepaid expenses and other 6,331 7,404 Deferred income tax assets 15,846 19,153 Total assets $ 3,695,680 $ 4,953,037 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 6,153 $ 5,181 Accrued expenses 143,287 170,575 Total current liabilities before client fund obligations 149,440 175,756 Client fund obligations 2,625,355 3,589,437 Total current liabilities 2,774,795 3,765,193 Long-term operating lease liabilities 62,471 48,888 Other long-term liabilities 3,731 6,008 Deferred income tax liabilities 11,820 33,534 Total liabilities $ 2,852,817 $ 3,853,623 Stockholders' equity: Preferred stock, $ 0.001 par value, 5,000 authorized, no shares issued and outstanding at June 30, 2023 and March 31, 2024 $ — $ — Common stock, $ 0.001 par value, 155,000 shares authorized at June 30, 2023 and March 31, 2024; 55,912 shares issued and outstanding at June 30, 2023 and 56,427 shares issued and outstanding at March 31, 2024 56 56 Additional paid-in capital 380,632 475,414 Retained earnings 466,690 624,637 Accumulated other comprehensive loss ( 4,515 ) ( 693 ) Total stockholders' equity $ 842,863 $ 1,099,414 Total liabilities and stockholders' equity $ 3,695

View Full Filing

View this 10-Q filing on SEC EDGAR