Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paycom Software Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Recurring	1,351,856)	1,036,691)	825,856)	724,428)	557,255)
Implementation and other	23,362)	18,833)	15,578)	13,243)	9,081)
Revenues	1,375,218)	1,055,524)	841,434)	737,671)	566,336)
Operating expenses	(169,806)	(130,475)	(97,778)	(89,336)	(76,231)
Depreciation and amortization	(42,935)	(31,411)	(25,768)	(20,411)	(14,532)
Cost of revenues	(212,741)	(161,886)	(123,546)	(109,747)	(90,763)
Gross profit	1,162,477)	893,638)	717,888)	627,924)	475,573)
Sales and marketing	(346,561)	(275,994)	(235,716)	(179,286)	(143,881)
Research and development	(148,343)	(118,426)	(90,244)	(73,080)	(46,247)
General and administrative	(239,130)	(209,840)	(178,200)	(127,534)	(96,605)
Depreciation and amortization	(49,764)	(35,811)	(27,605)	(21,800)	(15,125)
Administrative expenses	(783,798)	(640,071)	(531,765)	(401,700)	(301,858)
Operating income	378,679)	253,567)	186,123)	226,224)	173,715)
Interest expense	(2,536)	—)	(19)	(940)	(766)
Other income (expense), net	13,435)	2,395)	(168)	803)	1,762)
Income before income taxes	389,578)	255,962)	185,936)	226,087)	174,711)
Provision for income taxes	(108,189)	(60,002)	(42,483)	(45,511)	(37,646)
Net income	281,389)	195,960)	143,453)	180,576)	137,065)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Paycom Software Inc. revenues increased from 2020 to 2021 and from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Paycom Software Inc. operating income increased from 2020 to 2021 and from 2021 to 2022.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Paycom Software Inc. income before income taxes increased from 2020 to 2021 and from 2021 to 2022.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Paycom Software Inc. net income increased from 2020 to 2021 and from 2021 to 2022.

Paycom Software Inc. (NYSE:PAYC)

Income Statement