Paycom Software (NYSE: PAYC) reported Q1 EPS of $1.19, $0.08 better than the analyst estimate of $1.11. Revenue for the quarter came in at $199.9 million versus the consensus estimate of $195.49 million.

• First Quarter Revenues of $199.9 million, up 30% from the prior year period
• First Quarter GAAP Net Income of $47.3 million, or $0.81 per diluted share, up 15% from the prior year period
• First Quarter Non-GAAP Net Income of $69.3 million, or $1.19 per diluted share, up 24% from the prior year period
• First Quarter Adjusted EBITDA of $103.3 million, up 28% from the prior year period
• First Quarter Cash from Operations of $80.4 million, an increase of 40% from the prior year period

“Our strong first quarter results were driven by our proprietary software offering and focused sales efforts, positioning us well to accomplish our performance objectives for 2019,” said Chad Richison, Paycom’s founder and chief executive officer. “Employee usage of human capital management (HCM) technology is the future of our industry. We believe comprehensive HCM software that is easy to use can lead to higher employee engagement, increased efficiencies, better job satisfaction and higher employee retention. Our new Direct Data ExchangeTM is a first-of-its-kind solution within the HCM industry that measures the efficiency of the data collection process, further demonstrating the additional value we are bringing to the market with our concentrated employee usage strategy.”

GUIDANCE:

Paycom Software sees Q2 2019 revenue of $162.5-164.5 million, versus the consensus of $162.6 million.

Paycom Software sees FY2019 revenue of $718-720 million, versus the consensus of $712.25 million.

For earnings history and earnings-related data on Paycom Software (PAYC) click here.