Paycor Results Presentation Deck
Disclaimer
Paycor HCM, Inc.'s (together with its subsidiaries, "Paycor" or the "Company") fiscal year ends on June 30. References to "fiscal 2022" or "FY'22" refer to the fiscal year ended June 30, 2022. References to "fiscal 2021" or "FY'21" refer to the fiscal year ended June 30, 2021.
References to "fiscal 2020" or "FY'20" refer to the fiscal year ended June 30, 2020. References to "fiscal 2019" or "FY'19" refer to the arithmetic sum of the results of (i) Paycor, Inc., the Company's accounting predecessor, for the period of July 1, 2018 through November 1,
2018 and (ii) the Company for the period of November 2, 2018 to June 30, 2019. These FY'19 figures do not represent "pro forma" amounts prepared in accordance with SEC rules and regulations, including Article 11 of Regulation S-X. Any references to a year not preceded by
fiscal or FY refers to a calendar year.
Forward-Looking Statements
This presentation contains forward-looking statements that reflect the Company's current expectations and projections with respect to, among other things, its financial condition, results of operations, plans, objectives, future performance and business. These statements may
be preceded by, followed by or include the words "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "can have," "likely," outlook," "potential," "targets," "project," "contemplates" and the negatives thereof and other words and terms of
similar meaning.
Confidential: Not for reproduction or distribution without express written consent from Paycor.
All statements other than statements of historical fact are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by the Company, or any other person that the future plans, estimates, or expectations contemplated
by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relations to the Company's operations, financial results, financial condition, business, prospects, growth strategy, and liquidity. Accordingly, there
are, or will be, important factors that could cause the Company's actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to: our ability to manage our growth effectively; the expansion and retention of
our direct sales force with qualified and productive persons and the related effects on the growth of our business; the impact on customer expansion and retention if implementation, user experience, customer service, or performance relating to our solutions is not satisfactory;
our ability to innovate and deliver high-quality, technologically advanced products and services; our relationships with third parties; the proper operation of our software; future acquisitions of other companies' businesses, technologies, or customer portfolios; the impact of
COVID-19 on our business; and those risks described in our prospectus, as well as in our other filings with the Securities and Exchange Commission.
There is no assurance that the Company will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our operations in the way the Company expects. The forward-looking statements
included in this prospectus are made only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise required by law.
Market and Industry Data
Unless otherwise indicated, information in this presentation concerning economic conditions, the Company's industry, the Company's markets, and the Company's competitive position is based on a variety of sources, including information from independent industry analysts
and publications, as well as the Company's own estimates and research. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. While the Company believes the information presented is generally
reliable, forecasts, assumptions, expectations, beliefs, estimates, and projections involve risk and uncertainties and are subject to change based on various factors.
Non-GAAP Financial Measures
This presentation contains financial measures, such as Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Gross Profit Excluding Depreciation and Amortization, Adjusted Gross Profit Margin Excluding
Depreciation and Amortization, Adjusted Sales and Marketing Expense, Adjusted General and Administrative Expense, and Adjusted Research and Development Expense, which are not recognized under generally accepted accounting principles in the United States ("GAAP").
The Company believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-
GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be
different from similarly-titled non-GAAP measures used by other companies.
Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Gross Profit Excluding Depreciation and Amortization, Adjusted Gross Profit Margin Excluding Depreciation and Amortization, Adjusted Sales and
Marketing Expense, Adjusted General and Administrative Expense, and Adjusted Research and Development Expense have limitations as an analytical tool, and you should not consider this measure either in isolation or as a substitute for other methods of analyzing the results
as reported under GAAP. A reconciliation of Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Gross Profit Excluding Depreciation and Amortization, Adjusted Gross Profit Margin Excluding
Depreciation and Amortization, Adjusted Sales and Marketing Expense, Adjusted General and Administrative Expense, and Adjusted Research and Development to the most directly comparable GAAP financial measure can be found at the end of this presentation.
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