Paycom Software: International Expansion and Globalisation Effort Paying Off?

Paycom Software Inc., a provider of comprehensive, cloud-based human capital management software, released its latest financial results and future focus areas in their First Quarter 2024 Financial Results. The company reported Q1 revenue of $500 million, an 11% rise from the previous year, with recurring revenue making up 98% of the total. GAAP net income was reported to be around $247 million, or $4.37 per diluted share based on approximately 57 million shares. The impressive results were produced through various strategic implementations throughout the company.