The following is a summary of the Asure Software, Inc. (ASUR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Asure's Q1 2024 revenues decreased by 4% to $31.7 million compared to the previous year, but excluding ERTC, revenues were up 10% year-over-year.

• A net loss of $300,000 was reported for the first quarter, in comparison to a net income of $300,000 last year.

• Gross margins dropped to 71% from 74% in the previous year.

• EBITDA for the first quarter was $4.4 million, indicating a decrease from the prior year's $6.8 million.

Business Progress:

• Revenue growth for 2024 is expected to be driven mainly by Asure's core payroll business, Asure Marketplace, Payroll Tax Management, and the 401(k) offering, along with potential acquisitions.

• Sales are projected to increase due to anticipated demand for HR compliance solutions in the U.S. small business sector, product expansion, tech advancements, and reinforced digital marketing initiatives.

• Asure Software is expecting to hit a 25% growth rate in 2024 and reported 68% growth in payroll sales in Q1 2024. New business revenue contributes to approximately 70% of total bookings.

• As part of business growth initiatives, the company plans to expand its team size, accelerate its core business, invest in technology, launch a treasury management solution with JP Morgan, and reduce operation time in the 401K sector.

More details: Asure Software IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.