Company: PAYC
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-024136
Chunk: 96

Company: Paycom Software, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1B
Chunk 96
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, and other companies may not calculate such measures in the same manner as we do.

The following tables reconcile net income to adjusted EBITDA, net income to non-GAAP net income and earnings per share to non-GAAP net income per share on a basic and diluted basis. Refer to “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 15, 2024, for a presentation of the amounts for the year ended December 31, 2022.

    Year Ended December 31,

    2024

    2023

    Net income to adjusted EBITDA:

    Net income
     
    $
    502.0

    $
    340.8

    Interest expense

    3.4

    1.9

    Provision for income taxes

    147.0

    131.6

    Depreciation and amortization

    145.9

    114.0

    EBITDA

    798.3

    588.3

    Non-cash stock-based compensation expense

    (22.9
    )

    129.8

    Loss on extinguishment of debt

    —

    1.2

    Adjusted EBITDA
     
    $
    775.4

    $
    719.3

50

    Year Ended December 31,

    2024

    2023

    Net income to non-GAAP net income:

    Net income
     
    $
    502.0

    $
    340.8

    Non-cash stock-based compensation expense

    (22.9
    )

    129.8

    Loss on extinguishment of debt

    —

    1.2

    Income tax effect on non-GAAP adjustments

    (17.1
    )

    (22.3
    )

    Non-GAAP net income
     
    $
    462.0

    $
    449.5

    Weighted average shares outstanding:

    Basic

    56.2

    57.7

    Diluted

    56.3

    58.0

    Earnings per share, basic
     
    $
    8.93

    $