Paylocity Holding Corp

Listed Company

PCTYCIK 0001591698NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Jun 30

Period

FY 2025

Revenue

$1.60B

Net Income

$227.13M

Total Assets

$4.39B

Equity

$1.23B

Shares Out

53.88M

Op. Cash Flow

$418.23M

Business

Paylocity Holding Corp provides cloud-based human capital management, payroll and spend management SaaS through a unified platform. It offers payroll and tax services, global payroll, on-demand pay, time and labor, HR and talent management, benefits administration, employee experience tools, and finance solutions such as accounts payable automation and expense management. Its business is organized into product suites—Payroll; Human Resources; Time & Labor; Talent; Benefits; Employee Experiences; and Paylocity for Finance—supported by implementation, client service and tax/regulatory teams. It serves primarily U.S. businesses via a direct sales force, a broad referral network and an extensive third‑party integration marketplace.

Summary from filing dated 2025-08-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Recurring and other revenue	1,472	1,282	1,098	848	632
Interest income on funds held for clients	123	121	77	5	4
Total revenues	1,595	1,403	1,175	853	636
Cost of revenues	498	442	367	287	219
Gross profit	1,097	961	808	566	416
Sales and marketing	374	335	297	214	162
Research and development	206	178	164	103	77
General and administrative	213	187	192	164	120
Total operating expenses	793	701	653	481	358
Operating income	304	260	155	85	58
Other income	5	17	4	−997,000	−939,000
Income before income taxes	309	277	159	84	57
Income tax expense	82	70	18	−7	−14
Net income	227	207	141	91	71
Other comprehensive income (loss), net of tax	7	4	−2	−2	−609,000
Comprehensive income	234	210	139	88	70
Basic (in dollars per share)	4.08	3.68	2.53	1.65	1.3
Diluted (in dollars per share)	4.02	3.63	2.49	1.61	1.26
Basic (in shares)	56	56	56	55	54
Diluted (in shares)	57	57	57	56	56

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	398	402	289	140	202
Accounts receivable, net	42	33	25	16	6
Deferred contract costs	117	98	78	60	44
Prepaid expenses and other	51	40	35	29	16
Total current assets before funds held for clients	608	572	427	244	273
Funds held for clients	2,704	2,952	2,621	3,988	1,760
Total current assets	3,312	3,524	3,048	4,232	2,033
Capitalized internal-use software, net	132	116	86	62	45
Property and equipment, net	54	61	64	63	60
Operating lease right-of-use assets	36	34	44	49	44
Intangible assets, net	93	28	35	45	13
Goodwill	343	109	102	102	34
Long-term deferred contract costs	394	348	294	229	171
Long-term prepaid expenses and other	8	7	6	8	4
Deferred income tax assets	18	18	16	19	12
Total assets	4,389	4,245	3,696	4,809	2,415
Accounts payable	17	9	6	8	4
Accrued expenses	193	158	143	124	103
Total current liabilities before client fund obligations	210	167	149	133	107
Client fund obligations	2,695	2,950	2,625	3,988	1,760
Total current liabilities	2,905	3,117	2,775	4,121	1,867
Long-term debt	163	0	—	—	—
Long-term operating lease liabilities	47	47	62	69	67
Other long-term liabilities	9	6	4	4	2
Deferred income tax liabilities	33	42	12	2	2
Total liabilities	3,156	3,212	2,853	4,196	1,938
Preferred stock, $0.001 par value, 5,000 authorized, no shares issued and outstanding at June 30, 2024 and June 30, 2025	0	0	0	0	0
Common stock, $0.001 par value, 155,000 shares authorized at June 30, 2024 and June 30, 2025; 55,514 shares issued and outstanding at June 30, 2024 and 55,366 shares issued and outstanding at June 30, 2025	55,000	56,000	56,000	55,000	55,000
Additional paid-in capital	328	360	381	290	242
Retained earnings	901	673	467	326	235
Accumulated other comprehensive income (loss)	6	−936,000	−5	−2	66,000
Total stockholders' equity	1,234	1,033	843	613	477
Total liabilities and stockholders equity	4,389	4,245	3,696	4,809	2,415

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net income	227	207	141	91	71
Stock-based compensation expense	143	146	147	96	63
Depreciation and amortization expense	100	76	61	50	43
Deferred income tax expense (benefit)	−3	28	14	−7	−14
Provision for credit losses	1	2	1	311,000	316,000
Net amortization of premiums (accretion of discounts) on available-for-sale securities	−2	−4	−5	381,000	347,000
Other	1	−962,000	2	503,000	—
Accounts receivable	−4	−8	−9	−8	−2
Deferred contract costs	−63	−70	−81	−73	−57
Prepaid expenses and other	−8	−6	−4	−15	−4
Accounts payable	7	2	−2	3	2
Accrued expenses and other	18	13	18	17	20
Net cash provided by operating activities	418	385	283	155	125
Purchases of available-for-sale securities	−261	−304	−599	−434	0
Proceeds from sales and maturities of available-for-sale securities	160	294	447	117	101
Capitalized internal-use software costs	−62	−61	−45	−35	−29
Purchases of property and equipment	−13	−18	−22	−18	−9
Acquisitions of businesses, net of cash acquired	−278	−12	0	−108	−15
Other investing activities	−1	−1	−1	−3	0
Net cash used in investing activities	−456	−102	−220	−480	48
Net change in client fund obligations	−298	325	−1,362	2,228	432
Borrowings under credit facility	325	0	0	50	0
Repayment of credit facility	−163	0	0	−50	−100
Repurchases of common shares	−150	−150	0	0	—
Proceeds from employee stock purchase plan	20	19	17	14	12
Taxes paid related to net share settlement of equity awards	−60	−53	−88	−70	−64
Other financing activities	−408,000	−72,000	−885,000	−87,000	—
Net cash provided by (used in) financing activities	−326	142	−1,435	2,172	280
Net change in cash, cash equivalents and funds held for clients' cash and cash equivalents	−363	424	−1,372	1,848	454
Purchases of property and equipment and internal-use software, accrued but not paid	2	1	0	2	581,000
Liabilities assumed for acquisitions	56	378,000	117,000	5	281,000
Cash paid for interest	13	494,000	404,000	311,000	870,000
Cash paid for income taxes	86	48	1	11,000	−136,000

Filings

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