Paylocity says revenue up 38%

SCHAUMBURG - Paylocity Holding Corp., a provider of cloud-based payroll software, released financial results of its 2023 fiscal year that ended June 30, including revenue of $1.17 billion, up 38% year-over-year.

Net income increased 55% to $140.8 million, compared to $90.8 million in fiscal year 2022. Net income was $2.49 per diluted share, up from $1.61 in the prior fiscal year.

"Recurring and other revenue grew 30% in fiscal 23 as we continue to provide the most modern software in the industry. Our sustained investment in product development allows us to continue to expand our product suite, evidenced by the recent announcement of several new premium offerings and feature enhancements including Advanced Scheduling, Learning Management and Market Pay," said Steve Beauchamp, co-chief executive officer of Paylocity.