Paycor HCM, Inc. (NASDAQ:PYCR) Q3 2023 Earnings Conference Call May 10, 2023 5:00 PM ET

Company Participants

Rachel White - Vice President of Investor Relations

Raul Villar - Chief Executive Officer

Adam Ante - Chief Financial Officer

Conference Call Participants

Mark Murphy - JPMorgan

Samad Samana - Jefferies

Bhavin Shah - Deutsche Bank

Terry Tillman - Truist Securities

Bryan Bergin - TD Cowen

Scott Berg - Needham

Brad Reback - Stifel

Brian Peterson - Raymond James

Mark Marcon - Baird

Kevin McVeigh - Credit Suisse

Daniel Jester - BMO Capital Markets

Robert Simmons - D.A. Davidson

Steve Enders - Citi

Jackson Ader - SVB MoffettNathanson

Matt Pfau - William Blair

Operator

Ladies and gentlemen thank you for standing by and welcome to Paycor's Third Quarter Fiscal Year 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

I would now like to turn the call over to Rachel White, Vice President of Investor Relations.

Rachel White

Good afternoon and welcome to Paycor's earnings call for the third quarter of fiscal year 2023, which ended on March 31st. On the call with me today are Raul Villar, Jr., Paycor's Chief Executive Officer; and Adam Ante, Paycor's Chief Financial Officer.

Our financial results can be found in our press release issued today, which is available on the Investor Relations section of our website. Today's call is being recorded and a replay will be available on our website following the conclusion of the call.

Statements made on this call include forward-looking statements related to our financial results, products, customer demand, operations, and other matters. These statements are subject to risks, uncertainties, and assumptions and are based on management's current expectations as of today and may not be updated in the future. Therefore these statements should not be relied upon as representing our views as of any subsequent date.

We also will refer to certain non-GAAP financial measures and key business metrics to provide additional information to investors. Definitions of non-GAAP measures and key business metrics and a reconciliation of non-GAAP to GAAP measures is provided in our press release on our website.

With that, I'll turn the call over to Raul.

Raul Villar

Thank you, Rachel and thank you all for joining us to discuss Paycor's fiscal third quarter results. As employee engagement nationwide dropped to the lowest level in nearly a decade, we are seeing robust demand for our modern and differentiated HCM suite that enables leaders to more effectively coach, optimize, and retain their people. With these essential talent tools, our customers are improving the core strength of their critical frontline leaders and increasing their employee retention by 10%.