Analysis of Revenues
Revenues as Reported
Paycom Software Inc., income statement, revenues
US$ in thousands
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
The financial data reveals a consistent upward trend in the revenue streams over the observed years.
- Recurring Revenue
- The recurring revenue increased steadily from approximately $557 million in 2018 to over $1.35 billion in 2022. This represents a more than twofold increase over five years, indicating robust growth in the core revenue-generating activities. The year-over-year growth appears to accelerate particularly from 2020 onwards, highlighting an expanding customer base or increased subscription value.
- Implementation and Other Revenue
- This category also shows continuous growth, rising from just above $9 million in 2018 to about $23 million in 2022. Although this segment is significantly smaller compared to recurring revenue, its growth rate mirrors the positive trend seen throughout the revenue streams, suggesting a consistent expansion of implementation services and/or other ancillary offerings.
- Total Revenues
- Total revenues increased from approximately $566 million in 2018 to $1.38 billion in 2022. This growth aligns with the combined effect of both recurring and implementation revenues, reflecting a strong overall growth trajectory. The growth pattern indicates the company’s successful scaling efforts and a strengthening market position over the five-year period.