Investor
Presentation
Q1 FY2023
Safe Harbor Statement
This presentation is for informational purposes only and is not an offer to sell securities or a solicitation of an offer to buy any securities, and may not be relied upon in connection with the purchase or sale of any security.
This presentation is proprietary and is intended solely for the information of the persons to whom it is presented. It may not be retained, reproduced or distributed, in whole or in part, by any means (including electronic) without the prior written consent of Paylocity Corporation.
This presentation contains forward-looking statements. All statements other than statements of historical fact contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as
"may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of
these terms or other comparable terminology. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. These forward-looking statements are subject to a number of risks, including those described under the heading "Risk Factors" in our periodic reports we have filed with the Securities and Exchange Commission (the "SEC"). Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by law, we are under no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation.
In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the non-GAAP measures to their most directly comparable GAAP measures for the periods presented provided in the Current Reports on Form 8-K filed with the SEC on August 4, 2022, August 6, 2020 and August 9, 2018.
This presentation contains statistical data that we obtained from industry publications and reports generated by third parties. Although we believe that the publications and reports are reliable, we have not independently verified this statistical data.
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Our Business
We are a leading provider of cloud-based | |
HR and payroll software solutions | Employees |
39% YoY | Clients | Headquarters | |||||||||
32% YoY | growth | ||||||||||
34% YoY | growth | | |||||||||
Employees | |||||||||||
13% YoY | growth | | |||||||||
| average client | ||||||||||
growth | |||||||||||
size | |||||||||||
20% YoY | | ||||||||||
growth | |||||||||||
| |||||||||||
Best places to work | |||||||||||
$636 | $853 | $1,125 | Consistently awarded | ||||||||
$561 | $182 | $253 | |||||||||
FY20 | FY21 | FY22 | FY23 | Q1 FY22 | Q1 FY23 | ||||||
Guidance |
Total Revenue (FYE June 30, $mm)
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Core Addressable Market (TAM)
Current average | Over |
client size of | 1.3 million |
100+ | businesses |
employees | |
33,300 clients | in the 10-5,000 segment of the market |
as of June 30, 2022 | ~$255 Realized PEPY |
Only 2.5% penetrated into addressable market
73 million employees
in the 10-5,000
segment of the market
Source: U.S. Census Bureau | 4 |
Competitive Landscape
Average client size
Enterprise Market (10,000+ Employees)
5,000 Employees
Mid-Market
(51-1,000
Employees)
SMB Market
(1-50
Employees)
in-house solutions
~3,000 regional
providers
Workday/Ceridian - Limited overlap in target market. Enterprise solutions focused on companies with several thousand employees and up - do not see them often competitively
Ultimate Kronos Group - Enterprise solution focusing primarily on >1,000 employee companies - see them in some deals at the higher-end of our target market
Paycom - Average client size is larger than ours, see them in certain deals, but generally at the middle/higher-end of our target market
Paycor - Average client size is smaller than ours, see them in
Core Market certain deals, but generally at the middle/lower-end of our target market
ADP/PAYX - Biggest competitors - compete throughout our target market
Regionals - Smaller to mid-part of our market
Paylocity differentiates with a payroll and HCM platform built for the modern workforce + best- in-class client support
Focused on taking share in our target market of more than 1.3 million businesses
In-House - Primarily lower end of the market
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Paylocity Holding Corp. published this content on 04 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2022 19:41:01 UTC.