Paycom Software Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
PAYC$237.96+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income | $247,187 | $119,296 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 32,468 | 26,272 |
| Accretion of discount on available-for-sale securities | (73) | (124) |
| Non-cash marketing expense | 398 | 418 |
| Loss (Gain) on disposition of property and equipment | 10 | (13) |
| Amortization of debt issuance costs | 276 | 308 |
| Stock-based compensation expense | (93,790) | 27,819 |
| Deferred income taxes, net | (10,489) | (1,650) |
| Other | (100) | 78 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (3,555) | 5,041 |
| Prepaid expenses | (13,888) | (6,984) |
| Inventory | 182 | 385 |
| Other assets | 572 | 2,923 |
| Deferred contract costs | (37,640) | (38,519) |
| Accounts payable | 2,980 | (4,645) |
| Income taxes, net | 35,673 | 24,933 |
| Accrued commissions and bonuses | (10,401) | (10,845) |
| Accrued payroll and vacation | (13,636) | (8,835) |
| Deferred revenue | 6,570 | 3,386 |
| Accrued expenses and other current liabilities | 5,892 | 6,859 |
| Net cash provided by operating activities | 148,636 | 146,103 |
| Cash flows from investing activities | ||
| Purchases of investments from funds held for clients | — | (25,000) |
| Proceeds from investments from funds held for clients | 90,000 | 25,000 |
| Purchases of property and equipment | (47,728) | (40,618) |
| Proceeds from sale of property and equipment | 13 | — |
| Net cash provided by (used in) investing activities | 42,285 | (40,618) |
| Cash flows from financing activities | ||
| Withholding taxes paid related to net share settlements | (3,052) | (626) |
| Dividends paid | (21,209) | — |
| Net change in client funds obligation | 400,355 | 183,629 |
| Net cash provided by financing activities | 376,094 | 183,003 |
| Increase in cash, cash equivalents, restricted cash and restricted cash equivalents | 567,015 | 288,488 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents | ||
| Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period | 2,422,760 | 2,409,095 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period | $2,989,775 | $2,697,583 |
Unaudited Consolidated Statements of Cash Flows, continued
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents | ||
| Cash and cash equivalents | $371,325 | $505,590 |
| Restricted cash included in funds held for clients | 2,618,450 | 2,191,993 |
| Total cash, cash equivalents, restricted cash and restricted cash equivalents, end of period | $2,989,775 | $2,697,583 |
| Supplemental disclosures of cash flow information: | ||
| Non-cash investing and financing activities: | ||
| Purchases of property and equipment, accrued but not paid | $9,070 | $6,991 |
| Stock-based compensation for capitalized software | $3,589 | $3,597 |
| Right of use assets obtained in exchange for operating lease liabilities | $5,080 | $1,933 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.