Mar. 6 at 9:09 PM
$ASUR Asure Software reports Q4 EPS (12c), consensus 17c
Reports Q4 revenue
$30.8M, consensus
$30.82M. "We are pleased to report strong results for 2024, demonstrating the continued momentum of our business. Excluding the one-time impact of ERTC revenue, our fourth-quarter revenue grew 22% year-over-year, reaching
$30.8 million-an impressive finish to the year. For the full year, total revenue increased modestly to
$119.8 million, but when adjusted to exclude ERTC, our revenue growth was 17% year-over-year, underscoring the strength of our core business.
Recurring revenue, the backbone of our model, grew 15% year-over-year and now represents 96% of total revenue, up from 84% in 2023. Additionally, our contracted revenue backlog continued to expand, providing further visibility into future growth," said Asure Chairman and CEO Pat Goepel. "Our performance in 2024 was particularly strong in key areas, including our Payroll Tax Management product, which drove several major multi-year agreements with enterprise clients.
The success of this product, along with our growing backlog, reinforces the durability of our revenue streams and positions us well for the future." "We executed our strategy despite the anticipated headwind of replacing one-time ERTC revenue, and we are entering 2025 with a solid foundation for continued growth. Our plan for 2025 includes both organic and inorganic expansion, supported by the significant investments we've made in technology, operations, and new product development. With these improvements, we are confident in our ability to drive sustained, long-term growth."
