secwatch.observer — SEC 8-K summary
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Issuer:     Paylocity Holding Corp (PCTY)
CIK:        0001591698
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001591698-23-000112
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paylocity Q4 recurring revenue $282M (+24% YoY); FY23 adj. EBITDA $375M (+58%)
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- FY23 total revenue $1,174.6M (+38% YoY); recurring revenue $1,098.0M (+30% YoY).
- FY23 GAAP net income $140.8M ($2.49 diluted EPS) vs. $90.8M ($1.61) prior year.
- FY23 Adjusted EBITDA $375.2M (31.9% of revenue) vs. $237.8M (27.9%) prior year.
- Long-term adj. EBITDA target raised to 35-40% of revenue (from 30-35%); FCF target raised to 20-25% (from 15-20%).
- Cash and equivalents $288.8M; FY23 free cash flow $215.8M (18.4% of revenue).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1591698/000159169823000112/0001591698-23-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1591698/000159169823000112/pcty-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001591698-23-000112

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer