Paylocity reports first quarter revenue growth

SCHAUMBURG - Paylocity Holding Corp., a provider of cloud-based Human Resources and payroll software solutions, reported revenue of $253.3 million in its fiscal year first quarter, up 39% year-over-year.

Net income was $30.4 million in the quarter ended Sept. 30, or 54 cents per diluted share, compared to $30.9 million in the same period last year, or 55 cents per diluted share.

"Our strong sales momentum continued into the first quarter of fiscal 2023, with recurring and other revenue growth of 36% and total revenue growth of 39%, as our differentiated value proposition of providing the most modern software in the industry continues to resonate in the marketplace," said Steve Beauchamp, co-chief executive officer of Paylocity.