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✪ paylocity Paylocity Announces First Quarter Fiscal Year 2022 Financial Results November 4 , 2021 • Q1 2022 Recurring & Other Revenue of $ 180.8 million , up 34 % year - over - year • Q1 2022 Total Revenue of $ 181.7 million , up 34 % year - over - year SCHAUMBURG , III . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Paylocity Holding Corporation ( Nasdaq : PCTY ) , a leading provider of cloud - based HR and payroll software solutions , today announced financial results for the first quarter of fiscal year 2022 , which ended September 30 , 2021 . " We are off to a very strong start in fiscal 2022 with recurring and total revenue up 34 % versus Q1 of last fiscal . Our value proposition of providing the most modern platform in the industry is resonating with clients and prospects of all sizes . During the quarter we also completed the acquisition of Blue Marble , a leading global payroll provider , to further support companies in managing and paying their employees outside the U.S. In October we also held our virtual Elevate Client Conference where we hosted a record number of attendees and highlighted numerous enhancements across our product suite , " said Steve Beauchamp , Chief Executive Officer of Paylocity . First Quarter Fiscal 2022 Financial Highlights Revenue : • Total revenue was $ 181.7 million , an increase of 34 % from the first quarter of fiscal year 2021 . • Recurring & other revenue was $ 180.8 million , an increase of 34 % from the first quarter of fiscal year 2021 . Operating Income : • GAAP operating income was $ 10.3 million and Non - GAAP operating income was $ 36.2 million in the first quarter of fiscal year 2022 . Net Income : • GAAP net income was $ 30.9 million or $ 0.55 per share for the three months ended September 30 , 2021 based on 56.5 million diluted weighted average common shares outstanding . Adjusted EBITDA : • Adjusted EBITDA , a non - GAAP measure , was $ 46.1 million in the first quarter of fiscal year 2022 . Balance Sheet and Cash Flow : • Cash , cash equivalents and invested corporate cash totaled $ 69.6 million as of the end of the quarter . • Cash flow from operations for the first quarter of fiscal year 2022 was ( $ 4.1 ) million compared to ( $ 1.6 ) million for the first quarter of fiscal year 2021 . A reconciliation of GAAP to non - GAAP financial measures has been provided in this press release , including the accompanying tables . An explanation of these measures is also included below under the heading " Non - GAAP Financial Measures . " Business Outlook Based on information available as of November 4 , 2021 , Paylocity is issuing guidance for the second quarter and full fiscal year 2022 as indicated below . Second Quarter 2022 : • Total revenue is expected to be in the range of $ 185.5 million to $ 189.5 million , which represents approximately 27 % - 30 % growth over fiscal 2021 second quarter revenue . ● Adjusted EBITDA , a non - GAAP measure , is expected to be in the range of $ 39.0 million to $ 42.0 million . Fiscal Year 2022 : • Total revenue is expected to be in the range of $ 815.0 million to $ 820.0 million , which represents approximately 29 %