Asure Software, Inc. today reported its financial results for the third quarter ended September 30, 2024, with total revenues reaching $29.3 million, remaining flat year-over-year. The company's GAAP earnings per share (EPS) was reported at ($0.15), missing the consensus estimate of $0.19.
Despite the flat overall revenue, recurring revenue demonstrated strong growth, increasing by 20% year-over-year and now comprising 98% of total revenues, up from 81% in the same quarter last year. New bookings also saw a significant increase of 141% year-over-year, and the contracted revenue backlog grew over 35% from Q2 2024 and more than 250% from Q3 2023.
Management provided guidance for the fourth quarter of 2024, projecting revenues between $30 million and $32 million, which is below the consensus estimate of $34.18 million. For the full year 2024, revenue guidance was set at $119 million to $121 million, also falling short of the $125.2 million consensus. The company initiated full year 2025 revenue guidance in the range of $134 million to $138 million, excluding potential future acquisitions.
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