Dayforce Expects Q1 Revenue of $424M-$427M Vs $427.81M Est, FY24 Revenue of $1.72B-$1.73B Vs $1.74B Est
Business Outlook
Based on information available as of February 7, 2024, Dayforce is issuing the following guidance for the first quarter and full year of 2024 as indicated below. Comparisons are on a year-over-year basis, unless stated otherwise.
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First Quarter 2024 Guidance |
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Supplemental Commentary and Factors |
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Total Revenue |
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$424 million to $427 million, an increase of 14% to 15% on a GAAP and a constant currency basis. |
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Dayforce expects Other recurring revenue, excluding float1 to decline mid-single digits on a GAAP and a constant currency basis, as a result of the sunsetting of certain legacy solutions. |
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Dayforce recurring revenue, excluding float |
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$276 million to $279 million, an increase of 20% to 22%, or 20% to 21% on a constant currency basis. |
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Dayforce expects employment levels to reflect a normalized seasonal cadence. |
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Float revenue |
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$55 million |
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Float guidance reflects the near-term rate environment and the rolling maturity of the laddered core portfolio. |
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Adjusted EBITDA |
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$123 million to $126 million or margins of 29.0% to 29.5% |
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Dayforce continues to make investments to expand its global HCM footprint while scaling the platform. |
(1) Other recurring revenue, previously described as Bureau, primarily consists of APJ region and legacy North American solutions.
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Fiscal Year 2024 Guidance |
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Supplemental Commentary and Factors |
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Total Revenue |
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$1,720 million to $1,730 million, an increase of 14%, or 13% to 14% on a constant currency basis. |
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Dayforce expects Other recurring revenue, excluding float1 to decline mid-single digits on a constant currency basis, as a result of the sunsetting of certain legacy solutions. |
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Dayforce recurring revenue, excluding float |
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$1,160 million to $1,165 million, an increase of 20% to 21% on a GAAP and a constant currency basis. |
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Dayforce expects employment levels to reflect a normalized seasonal cadence. |
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Float revenue |
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$174 million |
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Float guidance reflects the near-term rate environment and the rolling maturity of the laddered core portfolio. |
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Adjusted EBITDA |
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$480 million to $495 million or margins of 27.9% to 28.6% |
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Dayforce continues to make investments to expand its global HCM footprint while scaling the platform. One-time impacts associated with the Dayforce rebrand and acquisition of eloomi are reflected in this metric. |