Sales drive Paylocity 4Q revenue up 50 percent

ARLINGTON HEIGHTS - Paylocity Holding Corp. reported revenue for the fourth quarter of fiscal year 2016 was up 50 percent driven primarily by sales of its human resources management solutions.

Total revenue was $59.8 million, an increase of 50 percent from the fourth quarter of fiscal year 2015. Total recurring revenue was $57.8 million, representing 97 percent of total revenue and an increase of 51 percent from the fourth quarter of fiscal year 2015. For the fiscal year 2016, total revenue was $230.7 million, an increase of 51 percent from last year. Total recurring revenue was $220.1 million, representing 95 percent of total revenue and an increase of 53 percent from fiscal year 2015.

"Paylocity ended a record-setting fiscal year with a very strong fourth quarter highlighted by total revenue growth of 50% and recurring revenue growth of 51 percent, driven by strong sales and operational execution," said Steve Beauchamp, President and Chief Executive Officer of Paylocity. "The 51 percent total revenue growth in fiscal year 2016 was a record for Paylocity, and was a result of our strong commitment to customer service, outstanding performance by our sales team and a continued focus on investment in product development."