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GlobeNewswire·

Asure Announces Third Quarter 2026 Results

ASUR
  • Asure Software reported third quarter 2026 revenue of $40.0 million, a 10% increase year over year.
  • Recurring revenue reached $36.9 million in the third quarter, representing a 16% year-over-year growth.
  • The company recorded a net loss of $0.6 million for the quarter, compared to a $5.4 million loss in the prior year period.
  • EBITDA improved to $7.9 million for the third quarter from $3.9 million in the same period last year.
  • Adjusted EBITDA for the third quarter was $10.5 million, up from $8.1 million in the prior year.
  • Gross profit for the quarter was $27.8 million, while non-GAAP gross profit was $30.2 million with a 75% margin.
  • Revenue for the first nine months of 2026 totaled $119.9 million, an 18% increase from the prior year.
  • First nine months 2026 recurring revenue was $108.6 million, up 16% year over year.
  • Net loss for the first nine months was $4.4 million, a significant improvement from $13.9 million in the prior year period.
  • EBITDA for the first nine months reached $21.9 million compared to $9.5 million in the prior year.
  • Adjusted EBITDA for the first nine months was $30.6 million versus $20.7 million in the prior year.
  • The company strengthened its Oracle ecosystem position by making Payroll Tax Management available on the Oracle Marketplace.
  • Asure entered a partnership with AWS to offer solutions through the AWS Marketplace to over 330,000 active customers.
  • The company launched AsureCentral® to its reseller network, expanding its addressable market to approximately three times its direct client base.
  • Asure secured a new credit agreement led by MUFG Bank with borrowing capacity up to $115.0 million.
  • $85.0 million in gross proceeds were received from the new credit agreement in October 2026 to repay existing debt.
  • Asure acquired a payroll processing business in the southeastern United States in October 2026 for $26.5 million.
  • The acquired business serves mid-market organizations with cloud-based HR, payroll, and talent tools.
  • Fourth quarter 2026 revenue guidance is set between $42.0 million and $44.0 million.
  • Full year 2026 revenue guidance ranges from $162.0 million to $164.0 million.
  • Full year 2027 revenue guidance ranges from $183.0 million to $187.0 million.
  • Full year 2026 adjusted EBITDA guidance is projected between $40.0 million and $42.0 million.
  • Full year 2027 adjusted EBITDA margin guidance is set between 26% and 28%.
  • Management cited solid organic growth with total revenue up 9% and recurring revenue up 14% organically in the third quarter.