Question · Q1 2026
Samad Saleem Samana questioned the implied slowdown in Paycor's recurring revenue growth (excluding float) to approximately 7.8% in the first integrated quarter, asking if integration disruption was a factor and if the double-digit growth target includes revenue synergies. He also asked about the 4% organic growth for Management Solutions revenue and its expected acceleration through the year.
Answer
CFO Bob Schrader stated that Paycor's recurring revenue growth was closer to double digits and Q1 performance was in line with expectations, acknowledging some disruption in Q4 last year. President and CEO John Gibson emphasized the difficulty in disaggregating Paycor's specific growth due to strategic segmentation and co-mingling of assets, focusing instead on overall segment performance. Mr. Schrader clarified that the 4% organic growth for Management Solutions in Q1 was expected, with the full-year guide implying 5% organic growth, driven by the PEO MPP headwind in the first half and building revenue synergies.