Paycor HCM, Inc. (NASDAQ:PYCR) Q2 2024 Results Conference Call February 7, 2024 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
Gabriela Borges - Goldman Sachs
Bhavin Shah - Deutsche Bank
Terrell Tillman - Truist Securities
Scott Berg - Needham & Company
Brad Reback - Stifel
Brian Peterson - Raymond James
Zack Ajzenman - TD Cowen
Matt Pfau - William Blair
Matt VanVliet - BTIG
Kyle Aberasturi - BMO Capital Markets
Mark Marcon - Baird
Operator
Ladies and gentlemen, thank you for standing by. And welcome to Paycor Second Quarter Fiscal Year 2024 Earnings Call. [Operator Instructions]
I would now like to turn the call over to Rachel White, Vice President of Investor Relations. Please go ahead.
Rachel White
Good afternoon, and welcome to Paycor earnings call for the second quarter of fiscal year 2024, 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 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 are 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. We had another strong quarter with revenue growth of 20% year-over-year. Margins expanded 130 basis points over the prior year, while we continue to invest in sales expansion and in our innovative HCM suite. HCM demand is healthy. Our deal pipeline is up significantly year-over-year, and our win rates remain strong. We continue to excel up market, especially among the higher end of SMB and enterprise customers with thousands of employees, who tend to purchase a more holistic solution and are driving higher attach rates and higher average deal sizes.