Paylocity reports 8% revenue increase in quarter
SCHAUMBURG -- Paylocity Holding Corp., a leading provider of cloud-based HR and payroll software solutions, said its total revenue was $186.1 million in its fiscal year third quarter, an increase of 8% from the third quarter of last year.
Cash flow from operations for the third quarter was $66.1 million compared to $50.7 million for the third quarter of fiscal year 2020, the company said. Cash, cash equivalents and invested corporate cash totaled $182.3 million as of the end of the quarter.
"Despite the continued challenges of the COVID-19 pandemic, we had a strong third quarter, with 11% growth in recurring and other revenue," said Steve Beauchamp, chief executive officer. "Our sales team had a strong selling season as they continue to execute well in a digital selling environment, while we also remain optimistic about the potential to return to a more normalized sales environment as state restrictions ease gradually across the U.S."