ASURE SOFTWARE INC

Listed Company

ASURCIK 0000884144NasdaqAcceleratedServices-Computer Integrated Systems DesignDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-13.13M

Total Assets

$531.42M

Equity

$197.80M

Shares Out

28.68M

Op. Cash Flow

$22.22M

Business

ASURE SOFTWARE INC provides cloud-based human capital management (HCM) software delivered primarily as Software-as-a-Service to businesses seeking to streamline HR and payroll functions. It offers Payroll & Tax, Tax Management Solutions, Recruiting, HR Compliance and services, Time & Attendance, Insurance and Benefits Administration, and an integrations marketplace called AsureMarketplace™. The company operates across product lines including payroll, tax processing, HR support tiers, recruiting, timekeeping hardware/HaaS, and benefits brokerage. It serves clients across the United States through direct sales and a network of Reseller and Referral Partners.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cost of sales	46	38	34	33	30
Gross profit	95	82	86	63	47
Sales and marketing	34	28	29	20	15
General and administrative	46	40	39	34	28
Research and development	6	8	7	6	5
Amortization of intangible assets	18	16	14	13	11
Total operating expenses	103	93	89	74	60
Loss from operations	−8	−11	−3	−11	−13
Interest income	869,000	913,000	1	—	—
Interest expense	−5	−1	−6	—	—
Other income, net	121,000	8,000	−292,000	1	150,000
Loss from operations before income taxes	−12	−11	−9	−14	4
Income tax expense	652,000	933,000	109,000	112,000	802,000
Net loss	−13	−12	−9	−14	3
Unrealized gain on marketable securities	1	540,000	1	−2	−703,000
Comprehensive loss	−12	−11	−8	−17	2
Basic (in Dollars per share)	−0.48	−0.45	−0.42	−0.72	0.17
Diluted (in Dollars per share)	−0.48	−0.45	−0.42	−0.72	0.16
Basic (in shares)	27	26	22	20	19
Diluted (in shares)	27	26	22	20	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	25	21	30	17	13
Accounts receivable, net of allowance for credit losses of $7,206 and $6,328 at December 31, 2025, and December 31, 2024, respectively	16	18	14	12	5
Inventory	3	195,000	155,000	251,000	246,000
Prepaid expenses and other current assets	6	5	3	10	13
Total current assets before funds held for clients	50	45	48	40	32
Funds held for clients	228	193	219	204	217
Total current assets	278	237	267	243	250
Property and equipment, net	28	20	15	11	9
Goodwill	116	95	86	86	86
Intangible assets, net	88	69	62	67	79
Operating lease assets, net	6	4	5	7	6
Other assets, net	16	12	9	6	4
Total assets	531	437	444	420	433
Current portion of notes payable	4	7	27,000	4	2
Accounts payable	2	1	3	2	565,000
Accrued compensation and benefits	5	4	7	6	4
Lease liabilities, current	2	1	1	2	2
Other accrued liabilities	6	7	4	4	2
Deferred revenue	12	8	7	8	4
Total current liabilities before client fund obligations	31	29	21	29	16
Client fund obligations	228	194	220	206	217
Total current liabilities	260	224	241	235	233
Deferred revenue	2	3	16,000	788,000	36,000
Deferred tax liability	3	3	2	2	2
Notes payable, net of current portion	63	6	4	31	33
Lease liabilities, noncurrent	5	4	5	6	5
Other liabilities	224,000	358,000	209,000	114,000	258,000
Total long-term liabilities	74	16	11	40	42
Total liabilities	334	239	252	275	275
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $0.01 par value; 1,500 shares authorized; none issued or outstanding	0	0	0	0	0
Common stock, $0.01 par value; 44,000 shares authorized; 28,076 and 26,671 shares issued, 28,076 and 26,671 shares outstanding at December 31, 2025, and December 31, 2024, respectively	281,000	267,000	254,000	206,000	204,000
Treasury stock at cost, zero(1) shares at December 31, 2025, and December 31, 2024	0	0	−5	−5	−5
Additional paid-in capital	517	505	488	434	430
Accumulated deficit	−320	−307	−290	−281	−267
Accumulated other comprehensive income (loss)	435,000	−575,000	−1	−2	−99,000
Total stockholders equity	198	197	192	145	158
Total liabilities and stockholders equity	531	437	444	420	433

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	26	22	19	19	16
Amortization of operating lease assets	2	1	1	2	2
Amortization of debt financing costs and discount	1	726,000	820,000	718,000	309,000
Non-cash interest expense	4	298,000	1	0	—
Net accretion of discounts and amortization of premiums on available-for-sale securities	−398,000	−377,000	−119,000	280,000	194,000
Provision for expected losses	1	46,000	2	803,000	1,000
Provision for deferred income taxes	652,000	884,000	225,000	−92,000	707,000
Loss on extinguishment of debt	71,000	0	990,000	0	—
Net realized gains on sales of available-for-sale securities	−3	−3	−2	−1	−542,000
Share-based compensation	8	6	5	3	3
Accounts receivable	3	−4	−4	−8	−1
Inventory	750,000	−41,000	97,000	−14,000	142,000
Prepaid expenses and other assets	−1	−2	5	3	−11
Accounts payable	335,000	−1	376,000	2	−725,000
Accrued expenses and other long-term obligations	−4	−1	87,000	4	629,000
Lease liabilities	−2	−2	−1	2	−348,000
Deferred revenue	−2	2	−2	5	−741,000
Net cash provided by operating activities	22	9	19	14	1
Business combination consideration, net of cash acquired	−38	−8	—	0	763,000
Acquisition of intangible assets	−16	−5	−8	−2	−26
Purchases of property and equipment	−787,000	−692,000	−2	−2	−133,000
Software capitalization costs	−14	−10	−7	−4	−4
Purchases of available-for-sale securities	−45	−16	−28	−37	−29
Proceeds from sales and maturities of available-for-sale securities	26	21	14	10	22
Net cash used in investing activities	−87	−19	−30	−36	−37
Payments of finance lease principal	−19,000	0	—	—	—
Proceeds from notes payable, net of issuance costs	58	5	0	—	—
Payments of notes payable	−7	−420,000	−36	−2	−15
Debt extinguishment costs	−100,000	0	−250,000	—	—
Net proceeds from issuance of common stock	1	1	47	497,000	678,000
Capital raise fees	0	−132,000	−338,000	0	—
Payments made on amounts due for the acquisition of intangibles	−3	−2	−311,000	—	—
Net change in client fund obligations	34	−26	14	−11	−103
Net cash provided by (used in) financing activities	83	−22	24	−12	−91
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents	19	−32	14	−35	−126
Cash paid for interest	3	0	3	3	1
Cash paid for income taxes, net of refunds	0	18,000	432,000	233,000	366,000
Acquisition of intangible assets	488,000	5	357,000	0	—
Notes payable issued for acquisitions	6	3	1	411,000	4
Shares issued for acquisitions	956,000	9	3	0	6

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