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EX - 99.1 2 a2022pycrq1exhibit991.htm EX - 99.1 Paycor HCM , Inc. Announces First Quarter Fiscal Year 2022 Financial Results • Q1 Recurring and Other Revenue of $ 92.4 million , an increase of 18 % year - over - year • Q1 Total Revenue of $ 92.7 million , an increase of 17 % year - over - year Exhibit 99.1 CINCINNATI , OH , November 9 , 2021 – Paycor HCM , Inc. ( NASDAQ : PYCR ) ( " Paycor HCM , ” “ Paycor ” or the “ Company ” ) today announced its financial results for its first quarter of fiscal year 2022 , which ended September 30 , 2021 . " Paycor delivered excellent first quarter results highlighted by 18 % recurring revenue growth and strong bookings performance with both new and existing customers , ” said Raul Villar , Chief Executive Officer of Paycor HCM . “ We believe the combination of the strength of our cloud - based HCM platform , which is designed to provide business leaders with the tools they need to optimize talent in today's dynamic market , and the investment we have made in our sales teams , is generating great success across our business . " Villar continued , " We are at the early stages of a multi - billion dollar market opportunity as small and medium - sized businesses adopt cloud - based HCM solutions . We believe Paycor HCM is in a terrific position to be a primary beneficiary of this trend and our first quarter performance reinforces our confidence that we are well positioned to achieve our long - term target of 20 % + revenue growth . " First Quarter Fiscal Year 2022 Financial Highlights • • Total revenue was $ 92.7 million for the first quarter of fiscal year 2022 , compared to $ 79.1 million for the first quarter of fiscal year 2021 . Operating loss was $ 52.3 million for the first quarter of fiscal year 2022 , compared to $ 21.5 million for the first quarter of fiscal year 2021 . Adjusted operating income * was $ 3.4 million for the first quarter of fiscal year 2022 , compared to $ 12.7 million for the first quarter of fiscal year 2021 . Net loss attributable to Paycor HCM was $ 53.7 million for the first quarter of fiscal year 2022 , compared to $ 22.4 million for the first quarter of fiscal year 2021 . Adjusted net income attributable to Paycor HCM * was $ 2.3 million for the first quarter of fiscal year 2022 , compared to $ 9.5 million for the first quarter of fiscal year 2021 . * Adjusted operating income and adjusted net income attributable to Paycor HCM are non - GAAP financial measures . Please see the discussion below under the heading " Non - GAAP Financial Measures " and the reconciliations at the end of this press release for information concerning these and other non - GAAP financial measures . First Quarter and Recent Business Highlights • • Bolstered COVID - related offerings with two new releases including an Immunization Tracker and a new facial recognition time clock . The Immunization Tracker allows business leaders to manage and track the immunization and testing status of their employees . Workers can upload proof of vaccination , or a negative COVID test , directly to the system and HR leaders can see immunization status across the organization . In addition , Paycor now offers a facial recognition time clock promoting a touchless employee experience . Launched OnDemand Pay , providing business leaders with more flexible pay options for their employees . OnDemand Pay allows employees to access their earned wages directly from our mobile app before their payday without fees when using their Visa card . Recognized as a Top Workplace for Diversity , Equity and Inclusion ( DE & I ) Practices by Energage . Over the past fiscal year , Paycor has taken a number of steps to advance its commitment to DE & I , including hiring a renowned industry leader to create and execute a strategic plan for DE & I , which includes universal education , and systemic changes that affect how the organization will operate future - forward , creating a public - facing Diversity Policy , and signing the CEO Action Pledge for Diversity & Inclusion the largest CEO - driven business commitment to advance diversity and inclusion in the workplace .