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Paycom Software , Inc. Reports Third Quarter 2021 Results 11/02/2021 Third Quarter Revenues of $ 256.2 million , up 30.4 % from the comparable prior year period Third Quarter GAAP Net Income of $ 30.4 million , representing 11.9 % of total revenues , or $ 0.52 per diluted share Third Quarter Non - GAAP Net Income of $ 53.6 million , or $ 0.92 per diluted share Third Quarter Adjusted EBITDA of $ 89.7 million , representing 35.0 % of total revenues OKLAHOMA CITY -- ( BUSINESS WIRE ) -- Paycom Software , Inc. ( " Paycom , ” “ we ” and “ our ” ) ( NYSE : PAYC ) , a leading provider of comprehensive , cloud - based human capital management software , today announced its financial results for the quarter ended September 30 , 2021 . " We delivered very strong third quarter results , which is a reflection of the investments we've made in product innovation , sales and marketing , and providing world - class service , ” said Paycom's founder and CEO , Chad Richison . " Paycom's differentiated solutions and go - to - market strategy are resonating with businesses of all sizes across the country . We continue to aggressively reinvest into the business to maximize our growth opportunities . " Financial Highlights for the Third Quarter of 2021 Total Revenues of $ 256.2 million represented a 30.4 % increase compared to total revenues of $ 196.5 million in the same period last year . Recurring revenues of $ 251.3 million increased 30.4 % from the comparable prior year period , and constituted 98.1 % of total revenues . GAAP Net Income was $ 30.4 million , or $ 0.52 per diluted share , compared to GAAP net income of $ 27.5 million , or $ 0.47 per diluted share , in the same period last year . Non - GAAP Net Income ¹ was $ 53.6 million , or $ 0.92 per diluted share , compared to $ 40.6 million , or $ 0.70 per diluted share , in the same period last year . Adjusted EBITDA¹ was $ 89.7 million , compared to $ 67.5 million in the same period last year . Cash and Cash Equivalents were $ 230.9 million as of September 30 , 2021 , compared to $ 151.7 million as of December 31 , 2020 . Total Debt , Net was $ 29.6 million as of September 30 , 2021 , compared to $ 30.9 million as of December 31 , 2020 . 1 Adjusted EBITDA and non - GAAP net income are non - GAAP financial measures . Please see the discussion below under the heading " Use of Non - GAAP Financial Information " and the reconciliations at the end of this release for additional information concerning these and other non - GAAP financial measures . Financial Outlook Paycom provides the following expected financial guidance for the quarter and year ending December 31 , 2021 : Quarter Ending December 31 , 2021 :