Paycom Software, Inc. (PAYC) [Rocket]

In millions, except per share items	Jun-30-23	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21	Dec-31-20
	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K
Revenues		1,211.6	1,136.8	1,055.5	991.5	931.8	871.3	841.4
Revenue growth		30.0%	30.5%	25.4%	21.8%	17.6%	11.7%	14.1%
Cost of goods sold [+]		167.3	156.5	147.0	133.6	121.8	122.6	123.5
Direct costs				130.5	118.7			97.8
Depreciation and amortization				16.6	14.8			25.8
Gross profit		1,044.3	980.4	908.5	857.9	810.0	748.7	717.9
Gross margin		86.2%	86.2%	86.1%	86.5%	86.9%	85.9%	85.3%
Selling, general and administrative [+]		988.7	949.9	909.7	885.7	820.0	876.1	945.7
Sales and marketing		145.3	145.3	145.3	132.2	124.6	180.7	235.7
General and administrative				329.0	325.1			386.6
Other selling, general and administrative				435.5	428.4			323.4
Research and development				65.5	56.2			90.2
Other operating expenses		-342.7	-342.0	-341.5	-323.4	-284.7	-409.7	-531.8
EBITDA [+]		373.2	361.2	322.3	285.2	272.4	248.5	239.5
EBITDA growth		37.0%	45.3%	34.6%	9.4%	-0.8%	-16.6%	-10.8%
EBITDA margin		30.8%	31.8%	30.5%	28.8%	29.2%	28.5%	28.5%
Depreciation		55.9	70.6	64.7	61.1	58.5	55.8	53.2
EBITA		317.2	290.6	257.5	224.2	213.9	192.7	186.3
EBITA margin		26.2%	25.6%	24.4%	22.6%	23.0%	22.1%	22.1%
Amortization of intangibles		4.1	3.4	2.5	1.5	0.5	0.3
EBIT [+]		313.1	287.2	255.0	222.7	213.4	192.4	186.1
EBIT growth		46.7%	49.3%	37.0%	5.9%	-5.9%	-23.9%	-17.7%
EBIT margin		25.8%	25.3%	24.2%	22.5%	22.9%	22.1%	22.1%
Interest expense		1.6	1.3	1.4	1.1	1.1	0.8
Interest expense		1.6	1.3	1.4	1.1	1.1	0.8
Other income (expense), net [+]				2.3	1.0			0.2
Other				1.6	0.6			-0.2
Pre-tax income		313.9	288.3	256.0	222.6	213.3	192.8	185.9
Income taxes		85.5	65.0	60.0	50.9	44.6	47.7	42.5
Tax rate		27.2%	22.5%	23.4%	22.9%		24.8%	22.8%
Net income		228.4	223.3	196.0	171.6	168.7	145.1	143.5
Net margin		18.8%	19.6%	18.6%	17.3%	18.1%	16.6%	17.0%

Basic EPS [+]		$3.94	$3.85	$3.39	$2.97	$2.92	$2.52	$2.49
Growth		34.7%	53.2%	36.0%	4.0%	-4.4%	-26.1%	-20.7%
Diluted EPS [+]		$3.93	$3.84	$3.37	$2.95	$2.90	$2.49	$2.46
Growth		35.5%	54.2%	36.8%	4.5%	-4.0%	-25.9%	-20.4%


Shares outstanding (basic) [+]		58.0	57.9	57.9	57.8	57.7	57.6	57.6
Growth		0.4%	0.5%	0.4%	0.3%	0.2%	0.0%	0.1%
Shares outstanding (diluted) [+]		58.2	58.2	58.2	58.2	58.2	58.3	58.3
Growth		-0.1%	-0.2%	-0.1%	-0.1%	-0.2%	-0.2%	-0.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.