Paycor HCM, Inc. - PYCR STOCK NEWS

Paycor HCM, Inc. (Nasdaq: PYCR) announced its upcoming financial results for the second quarter of fiscal year 2023, ending December 31, 2022. The results will be disclosed after market close on February 8, 2023. A conference call will follow at 5:00 p.m. Eastern Time on the same day, where executives will discuss the financial performance. Investors can access the call by dialing 1-877-407-4018 or via a live webcast on the Paycor Investor Relations website.

Paycor HCM, Inc. (Nasdaq: PYCR) has upsized its underwritten public offering of common stock from 5 million to 6 million shares, priced at $28.60 per share. The offering includes 4,238,329 shares from Pride Feeder, L.P. and 1,761,671 shares from AIX Pride Syndication, L.P. Paycor will not receive proceeds from this offering but will incur associated costs. The offering is set to close on December 6, 2022, subject to customary conditions. The stock will be offered under a shelf registration statement declared effective by the SEC.

Paycor HCM, Inc. (Nasdaq: PYCR) has initiated an underwritten public offering of 5,000,000 shares of common stock on behalf of Apax Partners LLP. The offering includes 3,531,941 shares from Pride Feeder, L.P. and 1,468,059 shares from AIX Pride Syndication, L.P. Paycor will not receive proceeds from this sale and will bear costs except for underwriting discounts. Goldman Sachs is the underwriter. The offering will comply with the shelf registration statement filed with the SEC. Forward-looking statements in the release indicate uncertainties regarding outcomes.

Paycor reported Q1 FY2023 revenue of $118.3 million, a 28% increase year-over-year, with recurring revenue of $114.2 million, up 24%. Adjusted net income was $8.2 million, up from $2.3 million in the previous year. The company raised its FY2023 revenue guidance to $528-$534 million, reflecting a 24% growth at the upper end. Paycor acquired Talenya, enhancing its talent solutions, and launched the COR Leadership Framework to support frontline leaders.

Paycor HCM, Inc. (Nasdaq: PYCR) announced the appointment of Jeremy Rishel to its Board of Directors, effective immediately after the Annual Meeting of Stockholders on October 26, 2022. Rishel, currently the Chief Technology Officer at SoFi, has nearly 30 years of technology experience, particularly in cybersecurity. His background is expected to support Paycor's growth in the fintech and software-as-a-service sectors. Paycor’s platform focuses on human capital management, emphasizing integrated HR solutions and analytics, currently serving over 29,000 customers.

Paycor HCM, a leader in human capital management software, introduced the COR Leadership Framework on October 27, 2022, aimed at enhancing frontline leaders' effectiveness. This framework, developed with proprietary data and research, focuses on empowering leaders to build accountable and engaged teams. Key strategies include Coaching, Optimizing, and Retaining talent. Recent surveys indicate a significant number of employees are considering resignations due to toxic cultures, underscoring the need for effective leadership in attracting and retaining talent.

Paycor HCM (Nasdaq: PYCR) announced its acquisition of Talenya, an AI-driven recruiting platform, aimed at enhancing its human capital management solutions. This acquisition is set to streamline the hiring process, allowing customers to fill critical roles more quickly and affordably. Talenya's technology focuses on sourcing both active and passive candidates, aligning with Paycor's commitment to diversity and inclusion in recruitment. The integrated solution is expected to launch in Q1 2023, further solidifying Paycor's strategic differentiation in the competitive labor market.