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CERIDIAN Ceridian Reports Third Quarter 2021 Results Ceridian delivers strong results in the third quarter across key measures of the business , exceeding third quarter guidance for Dayforce recurring revenue , total revenue , and adjusted EBITDA Dayforce recurring revenue , excluding float revenue , up 33 % year - over - year Minneapolis , MN and Toronto , ON , November 3 , 2021 - Ceridian HCM Holding Inc. ( " Ceridian " ) ( NYSE : CDAY ) ( TSX : CDAY ) , a global leader in human capital management ( HCM ) technology , today announced its financial results for the third quarter ended September 30 , 2021 . " I am pleased to report that our business continues to perform well , and in the third quarter , we made strong progress against our growth objectives and financial guidance for the year , " said David Ossip , Chair and Chief Executive Officer of Ceridian . " We remain focused on driving strong execution , investing in our growth , and generating operating momentum across the company . " Financial Highlights for the Third Quarter 20211 Revenue Highlights • Total revenue , which includes revenue from both Cloud and Bureau solutions , was $ 257.2 million for the third quarter of 2021 , an increase of 25.8 % , or 23.9 % on a constant currency basis . • Excluding float revenue , total revenue was $ 247.3 million for the third quarter of 2021 , an increase of 27.6 % , or 25.7 % on a constant currency basis . Dayforce recurring revenue was $ 160.3 million for the third quarter of 2021 , an increase of 30.6 % , or 29.0 % on a constant currency basis . Excluding float revenue , Dayforce recurring revenue was $ 153.0 million for the third quarter of 2021 , an increase of 32.9 % , or 31.4 % on a constant currency basis . Cloud revenue , which includes both Dayforce and Powerpay , was $ 219.6 million for the third quarter of 2021 , an increase of 24.3 % , or 22.1 % on a constant currency basis . Excluding float revenue , Cloud revenue was $ 210.3 million for the third quarter of 2021 , an increase of 25.8 % , or 23.7 % on a constant currency basis . Other Financial Highlights • • • . Cloud recurring gross margin² was 72.7 % for the third quarter of 2021 , compared to 70.4 % up 230 basis points , and excluding float revenue , Cloud recurring gross margin improved 290 basis points for the third quarter of 2021 . Net loss was ( $ 20.9 ) million for the third quarter of 2021 , compared to ( $ 0.8 ) million . Adjusted net income was $ 8.5 million for the third quarter of 2021 , compared to $ 17.7 million . Diluted net loss per share was ( $ 0.14 ) for the third quarter of 2021 , compared to ( $ 0.01 ) . Adjusted diluted net income per share was $ 0.05 for the third quarter of 2021 , compared to $ 0.12 . Diluted weighted average common shares outstanding were 150.5 million and 147.1 million for the third quarter of 2021 and 2020 , respectively , on a GAAP basis , and 156.9 million and 147.1 million for the third quarter of 2021 and 2020 , respectively , on an Adjusted basis . Adjusted EBITDA was $ 39.4 million for the third quarter of 2021 , compared to $ 33.2 million . Cash and equivalents were $ 378.8 million as of September 30 , 2021 , compared to $ 188.2 million as of December 31 , 2020 . 1 | Q3 2021 Earnings Release