Paycom Software, Inc. (NYSE:PAYC) Q4 2018 Earnings Conference Call Transcript

Feb 05, 2019 • 05:00 pm ET


Paycom Software, Inc. (NYSE:PAYC) Q4 2018 Earnings Conference Call Transcript


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Good afternoon, and welcome to the Paycom Software Fourth Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation there will be an opportunity to ask questions. (Operator Instructions) Please note, this event is being recorded.

I would now like to turn the conference over to Paycom's CFO, Craig Boelte. Please go ahead.

Craig E. Boelte

Thank you, and good afternoon. Before we get started, I would like to note that certain statements made during this conference call that are not historical facts, including those regarding 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 we have made or make in this presentation are reasonable, actual results could differ materially because the statements are based on our current expectations and are subject to risks and uncertainties. These risks and uncertainties are discussed in our filings with the Securities and Exchange Commission, 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 statements 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 the course of 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. 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, which is available on our website at

I will now turn the call over to Chad Richison, Paycom's President and Chief Executive Officer. Chad?

Chad Richison

Thanks, Craig, and thank you to everyone joining our call today. I will spend a few minutes on the highlights of our fourth quarter 2018 results, review some of our notable achievements in 2018 and also discuss our goals for 2019. Following that, Craig will review our financials and then we will take questions.

2018 was a stellar year for Paycom, with many achievements as we enhanced our offering, grew our team and continued to fulfill our mission to be the premier human capital management software provider to companies across the U.S. We are making major shifts to drive innovation in our industry. I want to thank all of our employees who have become pioneers in this initiative. I believe we will look back on 2018 and realize that this year was just the beginning of a new way businesses and their employees leverage HCM technology to drive efficiencies and create deeper relationships with their staff.

We finished the year with very impressive results.