Paycor HCM, Inc. (NASDAQ:PYCR) Q4 2022 Earnings Conference Call August 23, 2022 5:00 PM ET

Company Participants

Rachel White - Vice President, 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

Jared Levine - Cowen

Michael Rackers - Needham

Brad Reback - Stifel

Mark Marcon - Baird

Patrick Walravens - JMP Securities

Daniel Jester - BMO Capital Markets

Robert Simmons - D.A. Davidson

Operator

Greetings, and welcome to the Paycor Fourth Quarter and Full Year Earnings Call. At this time, all participants are in a listen-only mode. a question-and-answer will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

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

Rachel White

Good afternoon and welcome to Paycor's earnings call for the fourth quarter of fiscal year 2022, which ended on June 30. 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, the 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 will also 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 fourth quarter and full year results.

Revenue growth continued accelerating, culminating with 26% growth for the quarter, our highest and recent record, and 22% growth for the year. We exceeded the top end of our revenue and profitability guidance by 7% and over 100%, respectively. In our first year as a public company, we have consistently demonstrated revenue growth acceleration, and following two years of significant investments in our client experience, started expanding margins year-over-year in Q4. I would like to thank our employees for their dedication and contribution to our performance. Our fantastic results are not possible without them.