Asure Software, Inc. (NASDAQ:ASUR) Q2 2023 Results Conference Call August 7, 2023 4:30 PM ET

Company Participants

Pat Goepel - Chairman and Chief Executive Officer

John Pence - Chief Financial Officer

Randal Rudniski - Head of Investor Relations

Conference Call Participants

Bryan Bergin - TD Cowen

Eric Martinuzzi - Lake Street

Richard Baldry - Roth Capital Partners

Josh Riley - Needham and Company

Jeff Van Rhee - Craig-Hallum Capital Group

Vincent Colicchio - Barrington Research

Greg Gibas - Northland Securities

Operator

Good afternoon. And welcome to Asure Second Quarter 2023 Earnings Conference Call. Call. Joining us for today's call are Chairman and CEO, Pat Goepel; Chief Financial Officer, John Pence; and Head of Investor Relations, Randal Rudniski. Following their prepared remarks, management will hold a question-and-answer session for analysts and investors.

I would now like to turn the call over to Randal Rudniski for introductory remarks. Please go ahead.

Randal Rudniski

Thanks, operator and good afternoon, everyone. And thank you for joining us for Asure's second quarter 2023 earnings call. Following the close of markets, we released our financial results for the quarter. The earnings release is available on the SEC's Web site and our Investor Relations Web site at investor.asuresoftware.com, where you can also find our investor presentation. During our call today, we will reference non-GAAP financial measures, which we believe to be useful to investors and exclude the impact of certain items. A description and timing of these items along with a reconciliation of non-GAAP measures to their most comparable GAAP measures can be found in our earnings release. Today's call will also contain forward-looking statements that refer to future events and as such, involve some risks. We use words such as expects, believes and may, to indicate forward-looking statements, and we encourage you to review our filings with the SEC for additional information on factors that could cause actual results to differ materially from our current expectations. Finally, I'd like to remind everyone that this call is being recorded and it will be made available for replay via a link that can be found on the Investor Relations section of our Web site.

With that, I would now like to turn the call over to Pat Goepel, Chairman and CEO. Pat?

Pat Goepel

Thanks, Randal, and welcome, everyone, to the Asure Software's Second Quarter 2023 Earnings Call. I'm joined on the call by our CFO, John Pence. John and I will provide a business update for the quarter and our outlook for the remainder of 2023. Following our remarks, we'll be available to answer your questions. As you can see from the reported results, our strong momentum continued in the second quarter, with strength coming from solid execution across the business. Our revenue growth for the second quarter was 50%, all of which was organic with recurring revenues growing by 21% relative to the prior year and nonrecurring revenues up $6.2 million on continued strong performance of our ERTC solutions.