Paycor HCM, Inc. (NASDAQ:PYCR) Q2 2023 Results Conference Call February 8, 2023 5:00 PM ET
Company Participants
Rachel White - VP, IR
Raul Villar - CEO
Adam Ante - CFO
Conference Call Participants
Gabriela Borges - Goldman Sachs
Brian Peterson - Raymond James
Jared Levine - Cowen
Mark Murphy - JP Morgan
Mark Marcon - Baird
Pat Walravens - JMP
Samad Samana - Jefferies
Scott Berg - Needham & Company
Steve Enders - Citi
Terry Tillman - Truist
Andrew Warren - D. A. Davidson
Operator
Hello, and welcome to the Paycor's Second Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to VP of Investor Relations, Rachel White. Rachel, please go ahead.
Rachel White
Good afternoon, and welcome to Paycor's earnings call for the second quarter of fiscal year 2023, which ended on December 31.
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, impact of COVID-19 on our business 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 second quarter results. Paycor's modern open platform with differentiated tools for leaders in industries continues to resonate with clients and win in the market. Revenue grew 29% this quarter, driven by record bookings and ongoing PEPM expansion. Adjusted operating income margin increased by over 300 basis points year-over-year and we believe there is significant opportunity to drive further expansion as we scale.