PCTY - Paylocity Holding Corporation (PCTY) Q2 2024 Earnings Call Transcript

2024-02-08 21:25:04 ET

Paylocity Holding Corporation (PCTY)

Q2 2024 Earnings Conference Call

February 08, 2024 05:30 PM ET

Company Participants

Ryan Glenn - Chief Financial Officer

Steve Beauchamp - Co-Chief Executive Officer

Toby Williams - President and Co-Chief Executive Officer

Conference Call Participants

Joshua Reilly - Needham & Co. LLC

Brad Reback - Stifel, Nicolaus & Company, Inc.

Samad Samana - Jefferies LLC

Patrick Walravens - JMP Securities

Terrell Tillman - Truist Securities, Inc.

Brian Peterson - Raymond James & Associates, Inc.

Mark Marcon - Robert W. Baird & Co.

Jared Levine - TD Cowen

Raimo Lenschow - Barclays Bank PLC

Sitikantha Panigrahi - Mizuho Securities

Steven Enders - Citigroup Inc.

Aleksandr Zukin - Wolfe Research, LLC.

Jason Celino - KeyBanc Capital Markets

Daniel Jester - BMO Capital Markets

Matthew VanVliet - BTIG

Adam Bergere - Bank of America Merrill Lynch

Presentation

Operator

Hello, and thank you for standing by. Welcome to Paylocity Holding Corporation Second Quarter 2024 Fiscal Year Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Ryan Glenn. Sir, you may begin.

Ryan Glenn

Good afternoon, and welcome to Paylocity's earnings results call for the second quarter of fiscal 2024, which ended on December 31, 2023. I'm Ryan Glenn, Chief Financial Officer and joining me on the call today are Steve Beauchamp and Toby Williams, Co-CEOs of Paylocity.

Today, we will be discussing the results announced in our press release issued after the market closed. A webcast replay of this call will be available for the next 45 days on our website under the Investor Relations tab. Before beginning, we must caution you that today's remarks including statements made during the question-and-answer session contain forward-looking statements. These statements are subject to numerous important factors, risks and uncertainties, which could cause actual results to differ from the results implied by these or other forward-looking statements.

Also, these statements are based solely on the present information and are subject to risks and uncertainties that can cause actual results to differ materially from those projected in the forward-looking statements. For additional information, please refer to our filings with the Securities and Exchange Commission for the risk factors contained herein and other disclosures. We do not undertake any duty to update any forward-looking statements.

Also, during the course of today's call, we will refer to certain non-GAAP financial measures. We believe that non-GAAP measures are more representative of how we internally measure the business and there is a reconciliation schedule detailing these results currently available in our press release, which is located on our website at paylocity.com, under the Investor Relations tab and filed with the Securities and Exchange Commission.

Please note that we are unable to reconcile any forward-looking non-GAAP financial measure to the directly comparable GAAP financial measure, because the information which is needed to complete a reconciliation is unavailable at this time without unreasonable effort....

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