Paylocity Holding Corp
For the period ended Mar 31, 2026. Filed May 8, 2026.
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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, 2026 · Filed May 8, 2026
PCTY$179.00+0.7%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
(in thousands)
| Nine Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2026 | |
| Cash flows from operating activities: | ||
| Net income | $178,521 | $209,438 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Stock-based compensation expense | 112,538 | 111,503 |
| Depreciation and amortization expense | 73,184 | 82,554 |
| Deferred income tax expense (benefit) | (1,680) | 62,793 |
| Provision for credit losses | 875 | 1,352 |
| Net accretion of discounts on available-for-sale securities | (1,639) | (1,159) |
| Other | 951 | 1,183 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (7,814) | (10,306) |
| Deferred contract costs | (42,559) | (30,774) |
| Prepaid expenses and other | 2,195 | 4,120 |
| Accounts payable | (1,886) | (5,015) |
| Accrued expenses and other | 18,971 | (4,330) |
| Net cash provided by operating activities | 331,657 | 421,359 |
| Cash flows from investing activities: | ||
| Purchases of available-for-sale securities | (121,777) | (259,994) |
| Proceeds from sales and maturities of available-for-sale securities | 122,969 | 268,676 |
| Capitalized internal-use software costs | (45,563) | (49,101) |
| Purchases of property and equipment | (7,624) | (15,518) |
| Acquisitions of businesses, net of cash and funds held for clients acquired | (277,851) | — |
| Other investing activities | 1,303 | 2,228 |
| Net cash used in investing activities | (328,543) | (53,709) |
| Cash flows from financing activities: | ||
| Net change in client fund obligations | 429,856 | 1,139,099 |
| Borrowings under credit facility | 325,000 | — |
| Repayment of credit facility | (81,250) | (81,250) |
| Repurchases of common shares | (91,080) | (350,000) |
| Proceeds from employee stock purchase plan | 10,561 | 9,534 |
| Taxes paid related to net share settlement of equity awards | (49,121) | (36,540) |
| Other financing activities | (400) | (360) |
| Net cash provided by financing activities | 543,566 | 680,483 |
| Net change in cash, cash equivalents and funds held for clients' cash and cash equivalents | 546,680 | 1,048,133 |
| Cash, cash equivalents and funds held for clients' cash and cash equivalents—beginning of period | 2,845,669 | 2,482,526 |
| Cash, cash equivalents and funds held for clients' cash and cash equivalents—end of period | $3,392,349 | $3,530,659 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | ||
| Purchases of property and equipment and capitalized internal-use software, accrued but not paid | $2,372 | $3,362 |
| Liabilities assumed for acquisitions | $55,730 | $— |
| Supplemental Disclosure of Cash Flow Information | ||
| Cash paid for interest | $9,548 | $4,508 |
| Cash paid for income taxes, net of refunds received | $63,963 | $24,557 |
| Reconciliation of cash, cash equivalents and funds held for clients' cash and cash equivalents to the Consolidated Balance Sheets | ||
| Cash and cash equivalents | $477,785 | $299,728 |
| Funds held for clients' cash and cash equivalents | 2,914,564 | 3,230,931 |
| Total cash, cash equivalents and funds held for clients' cash and cash equivalents | $3,392,349 | $3,530,659 |
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