Paycom Software, Inc. (NYSE:PAYC) Q3 2023 Earnings Conference Call October 31, 2023 5:00 PM ET

Company Participants

James Samford - Head of IR

Chad Richison - President and CEO

Craig Boelte - CFO

Conference Call Participants

Raimo Lenschow - Barclays

Samad Samana - Jefferies

Brad Reback - Stifel

Mark Marcon - Baird

Ari Friedman - Oppenheimer

Joshua Reilly - Needham

Steve Enders - Citi

Siti Panigrahi - Mizuho

Bryan Bergin - TD Cowen

Jason Celino - KeyBanc

Arvind Ramnani - Piper

Bhavin Shah - Deutsche Bank

Robert Simmons - D.A. Davidson

Matt Pfau - William Blair

Adam Bergere - Bank of America

Alex Zukin - Wolfe Research

Operator

Good afternoon, and thank you for attending today's Paycom Software Third Quarter 2023 Quarterly Results Conference Call. My name is Chasson, and I'll be the moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to our host, James Samford, Head of Investor Relations.

James Samford

Thank you, and welcome to Paycom's earnings conference call for the third quarter 2023. Certain statements made on this call that are not historical facts, including those related to our future plans, objectives and expected performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our outlook only as of the date of this conference call. While we believe any forward-looking statements made on this call are reasonable, actual results may differ materially because the statements are based on our current expectations and subject to risks and uncertainties.

These risks and uncertainties are discussed in our filings with the SEC, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q. You should refer to and consider these factors when relying on such forward-looking information. Any forward-looking statement made speaks only as of the date on which it is made, and we do not undertake and expressly disclaim any obligation to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Also, during today's call, we will refer to certain non-GAAP financial measures including adjusted EBITDA, non-GAAP net income, adjusted gross profit, adjusted gross margin and certain adjusted expenses. We use these non-GAAP financial measures to review and assess our performance and for planning purposes. A reconciliation schedule showing GAAP versus non-GAAP results is included in the press release that we issued after the close of the market today and is available on our website at investors.paycom.com.