PAYC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• During the six months ended June 30, 2026, operating expenses decreased from the comparable prior year period by $7.2 million, primarily due to a $12.7 million decrease in employee-related expenses attributable to lower headcount, partially offset by increases in other categories of service costs, n…

• During the three months ended June 30, 2026, sales and marketing expenses increased from the comparable prior year period by $2.8 million, primarily due to a $4.6 million increase in marketing and advertising expense, partially offset by a decrease in employee-related expenses attributable to, among…

• During the six months ended June 30, 2026, sales and marketing expenses increased from the comparable prior year period by $9.5 million, primarily due to an $11.7 million increase in marketing and advertising expense, partially offset by a decrease in employee-related expenses attributable to, among…

• During the three and six months ended June 30, 2026, research and development expenses decreased from the comparable prior year periods primarily due to a decrease in employee-related expenses.

• During the three months ended June 30, 2026, general and administrative expenses increased $7.2 million from the comparable prior year period primarily due to a $4.2 million increase in professional fees and a $1.9 million increase in technology and communications expenses.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• During the three months ended March 31, 2026, sales and marketing expenses increased from the comparable prior year period by $6.7 million, primarily due to a $7.1 million increase in marketing and advertising expense and a $3.0 million increase in other expenses, partially offset by a decrease in e…

• During the three months ended March 31, 2026, research and development expenses decreased from the comparable prior year period primarily due to a decrease in employee-related expenses.

• During the three months ended March 31, 2026, general and administrative expenses increased $3.5 million from the comparable prior year period due to a $4.1 million increase in technology and communications expense and a $3.8 million increase in other expenses, partially offset by a $4.0 million dec…

• The increase in interest expense for the three months ended March 31, 2026, as compared to the prior year period, was primarily due to the timing and amount of borrowings outstanding under the Revolving Credit Facility.

• Other income, net increased for the three months ended March 31, 2026 compared to the prior year period, primarily due to a $9.0 million gain resulting from the July 2025 amendment to the naming rights agreement. See Note 5 “Goodwill and Intangible Assets, Net.” This increase was partially offset by…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• with original maturities of two years or less and a certificate of deposit. The primary objectives of our investing activities are capital preservation, liquidity, and, with respect to client funds, generating interest income while preserving principal. We do not invest for trading or speculative pu…

• Our investments are subject to interest rate risk. Rising interest rates generally reduce the market value of fixed-rate securities, while declining interest rates may reduce income earned on floating-rate investments. Accordingly, changes in interest rates could reduce future investment income or r…

• As of June 30, 2026, a hypothetical 100 basis point increase or decrease in interest rates would have resulted in an approximately $25.7 million increase or decrease, respectively, in interest earned on funds held for clients over the ensuing 12-month period. There are no incremental costs of revenu…

• An immediate 100 basis point increase or decrease in interest rates would have decreased or increased, respectively, the aggregate market value of our available-for-sale securities by approximately $0.9 million as of June 30, 2026. These estimates are based on a sensitivity model measuring the effec…

• As of June 30, 2026, we had $900.0 million of indebtedness outstanding under the Revolving Credit Facility. Because borrowings under the Revolving Credit Facility bear interest at floating rates, we are exposed to interest rate risk. A hypothetical 100 basis point change in applicable reference rate…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Our investments are subject to market risk due to changes in interest rates. The market value of fixed rate securities may be adversely affected due to a rise in interest rates, while floating rate securities may produce less income than expected if interest rates fall. Due in part to these factors,…

• As of March 31, 2026, a hypothetical increase or decrease in interest rates of 100 basis points would result in an approximately $26.1 million increase or decrease, respectively, in interest earned on funds held for clients over the ensuing 12-month period. There are no incremental costs of revenue …

• An immediate increase in interest rates of 100 basis points would have resulted in a $1.8 million reduction in the aggregate market value of our available-for-sale securities as of March 31, 2026. An immediate decrease in interest rates of 100 basis points would have resulted in a $1.8 million incre…

• As of March 31, 2026, we had $675.0 million of indebtedness outstanding under the Revolving Credit Facility. Our borrowings under the Revolving Credit Facility bear interest at a floating rate based on a variable reference rate for the interest period in effect, and as a result, we may be exposed to…