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- **Revenue Surge**: Q3 2025 revenue of $36.3 million (+24% YoY) driven by organic growth and cross-selling across all product lines. 
- **Game-Changer Launch**: Asure Central client interface rolled out to direct clients, poised to accelerate multi-product sales and attach rates. 
- **2026 Outlook**: Guidance for $158-162 million revenue (+7% YoY) and 23-25% EBITDA margin, with long-term target of $180-200 million at 30%+ margin. 
- **Lathem Synergy**: $4.7 million Q3 contribution from Lathem, with potential for $10-15 million annual recurring revenue as payroll bundling ramps. 
- **AI-Driven Growth**: Luna AI assistant and event-based compliance tools expected to enhance client retention and ARPU in 2026.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $36.3 million, a 24% year-over-year increase, driven by organic growth and cross-selling across all product lines (payroll, benefits, recruiting, time and attendance, payroll tax management). 
- **Asure Central Launch**: Launched a new client interface, Asure Central, to streamline workflows and enhance cross-selling opportunities. The rollout began with direct clients in late Q3 and will expand to indirect clients soon. 
- **Organic Growth Momentum**: Sequential organic growth improved to 7% (excluding HRC ERTC-related churn), up from 5% in Q2. Management expects continued acceleration in Q4 and beyond. 
- **Lathem Time Integration**: The acquisition contributed $4.7 million in Q3 revenue (40% hardware, 60% recurring), with plans to bundle Lathem's time and attendance solutions with Asure's payroll offering. 

**【CFO Financial Commentary】**
- **Financial Highlights**: 
  - GAAP net loss: $5.4 million (vs. $3.9 million prior year). 
  - Adjusted EBITDA: $8.1 million (49% YoY increase), with a margin of 22% (up 300 basis points). 
  - Float revenue declined due to interest rate cuts, but client fund balances are expected to partially offset future rate reductions. 
- **Guidance**: 
  - Q4 2025: Revenue $38-40 million, adjusted EBITDA $10-12 million. 
  - FY 2026: Revenue $158-162 million (7% YoY growth), adjusted EBITDA margin 23-25%. 
  - Long-term target: $180-200 million revenue with 30%+ EBITDA margin. 
- **Balance Sheet**: $21.5 million cash, $70.4 million debt as of Q3 end. 

**【Q&A Highlights】**
- **2026 Growth Drivers**: CEO Pat Goepel emphasized organic growth (7%+ YoY) and cross-selling as key drivers, with Asure Central expected to accelerate attach rates for multi-product sales. 
- **Lathem Synergies**: CFO John Pence noted Lathem's 15,000 standalone clients as a pipeline for payroll cross-sell, with potential for $10-15 million annual contribution. 
- **AI Integration**: CEO highlighted AI-driven workflow tools (e.g., event-based compliance alerts) to enhance client retention and ARPU. 
- **Float Revenue Impact**: CFO modeled two 25-bp interest rate cuts in 2026, but client fund growth may mitigate margin pressure. 
- **Sales Cycle Trends**: CEO reported no material slowdown in small/medium business sales cycles, with pipeline strength supporting 2026 guidance.

Asure Software, Inc. (ASUR) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

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Operating Expenses

Selling, General and Administrative Expenses

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ASUR

ASUR fundamentals

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