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C Asure Asure Announces Third Quarter 2021 Results November 8 , 2021 AUSTIN , Texas , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- Asure Software , Inc. ( Nasdaq : ASUR ) , a leading provider of cloud - based Human Capital Management ( " HCM " ) software solutions , reported results for the third quarter ended September 30 , 2021 . " We have made great strides in advancing our strategic priorities , which we expect will put Asure on a firmer footing to drive future growth and value creation , " said Chairman and CEO , Pat Goepel . " In the third quarter , we accelerated our acquisition strategy by purchasing two payroll businesses , expanding our geographic territories which provide up - sell and cross - sell opportunities which we expect will help us to continue to build scale economies in our overall business . We also made some important steps forward in our product strategy by introducing a new integrated payroll and HR solutions platform for small businesses as well as adding new value added partners that enhance our functionality and user experience . " Goepel added , " We are also pleased with our performance in the quarter with 12 % revenue growth versus prior year , two - thirds of which was organic as well as with continuing investments in our sales organization to drive future revenues . Furthermore , we are having ongoing success with our tax engine , Asure Payroll Tax Management , as well as with our efforts to help businesses file for stimulus relief related to the Employee Retention Tax Credit ( ERTC ) in the third quarter . date , we have helped small business clients file for in excess of $ 200 million in ERTC credits . " Third Quarter 2021 Key Highlights • Revenue of $ 17.98 million , up 12 % from the prior year's quarter , and up 5 % sequentially • Total bookings were up 43 % year over year , and flat sequentially • GAAP net income of $ 5.3 million including a $ 10.5 million gain related to the Company's ERTC credit • Non - GAAP EBITDA of $ 1.2 million , or 7 % margin • Acquired two payroll businesses , partially funded by our new credit facility with Structural Capital in thousands , except per share data ( unaudited ) REVENUE GAAP Revenue GROSS PROFIT GAAP Gross Profit GAAP Gross Margin Non - GAAP Gross Profit Non - GAAP Gross Margin EBITDA Three Months Ended September 30 , September 30 , 2021 2020 EBITDA EBITDA Margin Non - GAAP EBITDA Non - GAAP EBITDA Margin $ $ EARNINGS $ GAAP Net income ( loss ) GAAP Net income ( loss ) per share $ Non - GAAP Net income ( loss ) Non - GAAP Net income ( loss ) per share $ $ $ $ 17,981 $ 10,868 $ 60 % 12,002 $ 67 % 5,328 $ $ 0.28 ( 174 ) ( 0.01 ) $ 9,902 $ 55 % 1,228 $ 7 % 16,015 9,073 57 % 10,290 64 % ( 4,759 ) ( 0.30 ) ( 439 ) ( 0.03 ) ( 812 ) ( 5 ) % 1,012 6 % Variance 12 % $ Nine Months Ended September 30 , September 30 , 2021 2020 20 % $ n / a 17 % $ n / a 21 % NM $ NM $ 60 % 67 % $ NM $ n / a $ n / a 54,951 $ 33,305 $ 61 % 36,993 $ 67 % 7,494 $ 0.39 1,997 0.11 $ 38 % 20,824 $ 5,714 EA CA 10 % $ $ 49,077 28,287 58 % 31,565 64 % ( 10,470 ) ( 0.66 ) 3,328 0.21 1,326 3 % 6,706 14 % Variance 12 % 18 % n / a 17 % n / a NM NM ( 40 ) % ( 48 ) % NM n / a ( 15 ) % n / a • NM indicates Not Meaningful Information • Non - GAAP financial measures are reconciled to GAAP in the tables set forth in this release • Note that first quarters are seasonally strong as recurring year - end W2 / ACA revenue is recognized in this period Financial Commentary " We are pleased with our performance in the third quarter and are excited about the initiatives we implemented that we expect will drive future