2024-02-07 20:14:03 ET
Paycom Software, Inc. (PAYC)
Q4 2023 Earnings Call Transcript
February 07, 2024, 05:00 PM ET
Company Participants
James Samford - Head of IR
Chad Richison - President & Co-CEO
Chris Thomas - Co-CEO
Craig Boelte - CFO
Conference Call Participants
Raimo Lenschow - Barclays
Samad Samana - Jefferies
Mark Marcon - Baird
Brian Schwartz - Oppenheimer
Joshua Reilly - Needham
Steve Enders - Citi
Kevin Veigh - UBS
Siti Panigrahi - Mizuho
Jared Levine - TD Cowen
Jason Celino - KeyBanc
Arvind Ramnani - Piper Sandler
Bhavin Shah - Deutsche Bank
Daniel Jester - BMO
Adam Bergere - Bank of America
Presentation
Operator
Good afternoon. My name is Sierra, and I'll be your conference operator today. At this time. I would like to welcome everyone to Paycom's Fourth Quarter and Full-Year 2023 Financial Results Conference Call. All lines have been placed on-mute to prevent any background noise. After the speakers' remarks, there will be a Q&A session. [Operator Instructions] I will now turn the call over to James Samford, Head of Investor Relations. You may begin.
James Samford
Thank you, and welcome to Paycom's earnings conference call for the fourth quarter and full-year 2023. Certain statements made on this call that are not historical facts, including those related to our future plans, objectives and expected performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our outlook only as of the date of this conference call. While we believe any forward-looking statements made on this call are reasonable, actual results may differ materially because the statements are based on our current expectations and subject to risks and uncertainties. These risks and uncertainties are discussed in our filings with the SEC, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q. You should refer to and consider these factors when relying on such forward-looking information. Any forward-looking statement made speaks only as of the date on which it is made, and we do not undertake and expressly disclaim any obligation to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Also, during today's call, we will refer to certain non-GAAP financial measures, including adjusted EBITDA, non-GAAP net income, adjusted gross profit, adjusted gross margin and certain adjusted expenses. We use these non-GAAP financial measures to review and assess our performance and for planning purposes. A reconciliation schedule showing GAAP versus non-GAAP results is included in the press release that we issued after the close of the market today and is available on our website at investors.paycom.com.
I will now turn the call over to Chad Richison, Paycom's President and Co-CEO. Chad?
Chad Richison
Thanks, James, and thank you to everyone joining our call today. We ended 2023 with better-than-expected results, thanks to the considerable coordinated efforts of our team across the organization. Before digging into the quarterly results and achievements in 2023, I'd like to discuss today's announcements about the promotion of Chris Thomas to Co-CEO. Following that, I will briefly introduce Chris who previously served as our COO. Craig will then review our financials and our guidance before taking questions. With that, let's get started....
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Paycom Software, Inc. (PAYC) Q4 2023 Earnings Call Transcript