An Eye on Financial Results: Asure Software, Inc. (NASDAQ-ASUR)

On 28 May 2019, Asure Software, Inc. (NASDAQ-ASUR) has shown upward/downward move of +1.06% and ended the last trade at $6.67. The trading volume was recorded to 104,693 shares as compared to average traded volume of 272,222 shares.

Asure Software, Inc. (ASUR) stated results for the fourth quarter and full year ended December 31, 2018.

Fourth Quarter and Fiscal 2018 Key Financial Highlights

  • Fourth quarter total revenue of $24.4M, up 60% year-over-year
  • Fourth quarter cloud revenue of $17.7M, up 54% year-over-year
  • Fourth quarter cloud bookings up 32% year-over-year
  • Fiscal 2018 total revenue of $89.0M, up 63% year-over-year
  • Fiscal 2018 cloud revenue of $68.9M, up 75% year-over-year
  • Fiscal 2018 cloud bookings up 65% year-over-year
  • Short-term Backlog (within a 12-month period) was $29.4M
  • Total Backlog (short and long-term) Presently Exceeds $50.0M

Asure delivered the following results for its fourth quarter and twelve months ended 2018:

Cloud Bookings: Cloud bookings were up 65% year-over-year.

Revenue: 

Total revenue for the fourth quarter of 2018 was $24.4M, an raise of 60% from $15.3M in the fourth quarter of 2017. Recurring revenue represented 81% of total revenue, contrast with 84% in the year-before quarter. Cloud revenue represented 73% of total as contrast with 75% in the year-before quarter. HCM revenue represented 71% of total and workspace represented 29%, contrast with 67% and 33%, respectively, in fourth quarter 2017.

Total revenue for 2018 was $89.0M, an raise of 63% from $54.4M 2017. Recurring revenue represented 85% of total revenue, contrast with 82% in 2017. Cloud revenue represented 77% of total, up from 72% in 2017. HCM revenue represented 72% of total and workspace represented 28%, contrast with 63% and 37%, respectively, in 2017.

Gross Profit:

 GAAP gross profit for the fourth quarter of 2018 was $14.8M (60.8% margin), a 31% raise from $11.3M (74.1% margin) in the fourth quarter of 2017. Non-GAAP gross profit* was $15.4M (63.2% margin), up 34% from $11.5M (75.0% margin) in the year-before quarter.

GAAP gross profit for 2018 was $58.1M (65.3% margin), a 39% raise from $41.8M (76.8% margin) in 2017. Non-GAAP gross profit* was $60.5M (68.0% margin), up 43% from $42.3M (77.7% margin) in 2017.

Earnings (Loss) per Share: 

GAAP income per share was $0.11, contrast with a net loss per share of $(0.12) in the fourth quarter of 2017. Non-GAAP earnings per share* was $0.15, as contrast with $0.13 in the year-before quarter.

GAAP loss per share was $(0.54), contrast with $(0.53) in 2017. Non-GAAP earnings per share* was $0.55, as contrast with $0.48 in 2017.

Non-GAAP EBITDA*:

Non-GAAP EBITDA was $5.9M (24.0% margin), an raise of 78% from $3.3M (21.5% margin) in the fourth quarter of 2017.

Non-GAAP EBITDA was $20.0M (22.4% margin) in 2018, an raise of 79% from $11.1M (20.4% margin) in 2017.

Beta factor, which measures the riskiness of the security, was registered at 0.97. Net profit margin of the firm was recorded at -8.80% and operating profit margin was calculated at -6.20% while gross profit margin was measured as 64.80%.

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