Latest news with #BobFoster
Associated Press
13-05-2025
- Health
- Associated Press
Inaugural Global Symposium on Interventional Radiation Protection to focus on keeping lab-based clinicians safe
HMP Global partners with Occupational Radiation Safety in Interventional Fluoroscopy (ORSIF) to deliver first-of-its-kind summit dedicated to this topic. 'We have entered a new era where the cases are becoming more complex and the expertise of these operators are essential for best patient outcomes.'— Bob Foster, MD, President of ORSIF MALVERN, PA, UNITED STATES, May 13, 2025 / / -- Interventional fluoroscopy is used in more than 10 million procedures annually, causing lab teams to have the most exposure to radiation among all medical disciplines. To address this vital health and safety topic, HMP Global, in partnership with Occupational Radiation Safety in Interventional Fluoroscopy (ORSIF), will host the first-of-its-kind Global Symposium on Interventional Radiation Protection (SIRP). The live online symposium will be held September 26-27, 2025. While radiation protection is discussed at other conferences, SIRP is the first program dedicated entirely to radiation safety with a goal of reducing the number of interventionalists and staff whose careers and lives have been impacted by radiation exposure. Interventionalists and lab support teams are exposed to radiation repeatedly during patient care. An alarming number of brain tumors, skin lesions, orthopedic issues, and cataracts (among other medical issues) have been reported, according to ORSIF. The SIRP educational program will address the well-known issue of radiation exposure but will mainly focus on new and novel ways to limit clinician risk, said Josh Hartman, Senior Vice President, Cardiovascular, HMP Education. 'Protecting lab-based physicians and staff from procedural radiation exposure is essential to the future of the affected specialties, and we must address their well-being,' Hartman said. 'In doing so, we will foster a culture of safety and excellence in patient care. The collaboration with ORSIF for the upcoming Global Symposium on Interventional Radiation Protection will ultimately save lives.' Bob Foster, MD, President of ORSIF, agreed. 'We have entered a new era where the cases are becoming more complex and the expertise of these operators are essential for best patient outcomes,' Foster said. 'These cases are exposing teams to more radiation and bodily risks. New technologies are now available to mitigate the risks and allow team members to have long and healthy careers.' 'Protecting healthcare professionals from ionizing radiation exposure will result in better patient care,' said Colleen Waters, Associate Vice President, Cardiovascular, HMP Education. 'Prioritizing protection from radiation exposure empowers clinicians to perform their best, ultimately improving outcomes for patients. Investing in education and in safety measures is an investment in the future of interventional medicine, one where both health care teams and patients thrive.' 'For too many years we have not adequately addressed radiation protection for interventional physicians and staff members,' said John Cadwalader, Vice President of ORSIF. 'It is time to start now, by becoming fully aware of the radiation risks and taking action to provide more protection to our interventional staff.' Interventional cardiologists, interventional radiologists, vascular surgeons, electrophysiologists, nurses, techs, and all staff in the cath lab, EP lab, operating rooms, and interventional radiology suites can earn CMEs and can benefit from SIRP's educational programming. In addition, the content will include topics from radiation and health physicists. Visit the event website for more information and to register. ABOUT HMP GLOBAL HMP Global is the omnichannel market leader in healthcare events, education, and insight — with a mission to improve patient care. For 40 years, the company has built trusted brands including Psych Congress, the premier source for mental health education, and the Symposium on Advanced Wound Care (SAWC), the largest wound care meeting in the world. HMP Global partners with leading experts around the world to deliver more than 450 annual events, medical strategy, and marketing for pharmaceutical and medical device customers through HMP Collective, and pharmaceutical market insight, engaging a global community of healthcare stakeholders that includes nearly 2 million clinicians across 600 medical specialties as well as managed care, behavioral health, senior living, emergency medical, and pharmaceutical commercialization professionals. For more information, follow HMP Global on LinkedIn or visit ABOUT ORSIF The organization for Occupational Radiation Safety in Interventional Fluoroscopy (ORSIF) raises awareness for the health risks of ionizing radiation exposure and the associated orthopedic hazards that occur in interventional fluoroscopy labs. ORSIF provides resources for related medical professionals and facilities to help create the safest possible environment for those dedicated to the wellness of others. For more information, visit Sandi Beason, APR HMP Global [email protected] Visit us on social media: LinkedIn Facebook Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
14-02-2025
- Business
- Yahoo
Paycom boosts revenue, but falls short in end-of-year 2024 expectations
Paycom made significant financial profits in 2024, but failed to reach market estimates, leading to cutbacks on spending and sending shares down to 3.3%. The Oklahoma City-based human resource payroll company reported a total revenue of $1.9 million last year, an 11% increase from $1.7 million the prior year. Analysts had predicted $1.87 million in revenue. Nonetheless, Bob Foster, the newly appointed chief financial officer at Paycom, expressed optimism about the company's earnings in the fourth quarter of 2024, which totaled $493.8 million, a 13.6% increase from the year before and above the $481.1 million forecast from analysts. "It was a strong end to the year...' Foster said. 'That momentum, combined with our record-setting sales to start the year, positions us well for 2025.' Paycom also reported recurring and other revenues of $1.8 million, an increase of 10.9% in 2023. Net income totaled $502 million and earnings per share amounted to $8.92, compared to $340.8 million and $5.88, respectively, the year before. More: Paycom shrugged off the impact of COVID, nearly doubling its workforce in the last 5 years The company expects revenue to increase 8% by mid-2025, according to its report. The company forecast a total revenue of $2.015 billion to $2.035 billion in total revenue this year as three new sales offices opened last month in Raleigh, North Carolina; Los Angeles, California; and Providence, Rhode Island. "We expect recurring and other revenue growth to accelerate to consistent double digits in the second quarter through fourth quarter," Foster said. "And with the talented team we have in place, combined with a clear product vision, I have no doubt we'll build on our success and continue to provide the most automated solution in the industry." However, analyst predictions estimated total revenue around $2.05 billion, and the company expects budget IT budget cuts and reduced spending amid uncertainty. Chad Richison, Paycom founder, CEO and chairman, said its product's strong Return on Investment contributed to its strong end-of-the-year results. 'Throughout the year, we executed our plan of providing world-class service, solution automation and client ROI achievement, which empowered us to deliver better-than-expected results to close out the year,' Richison said in a news release Tuesday. The global company recorded a total client count of 37,543 at the end of 2024, a 2% increase from the year before, though it remained relatively flat, according to the release. "Our solution remains the most automated on the market and is delivering strong ROI for our clients," the CEO said. Contributing Reuters This article originally appeared on Oklahoman: Paycom OKC revenue fell short of 2024 market estimates
Yahoo
13-02-2025
- Business
- Yahoo
Paycom Software Inc (PAYC) Q4 2024 Earnings Call Highlights: Strong Revenue Growth Amid ...
Full Year Revenue: $1.88 billion, 11% organic growth compared to 2023. Fourth Quarter Revenue: $494 million, 14% growth year-over-year. Full Year Recurring and Other Revenue: $1.76 billion, up 11% from 2023. Interest on Funds Held for Clients: $125 million for the full year, up 16% year-over-year; $29 million for the fourth quarter, up 2% year-over-year. Full Year GAAP Net Income: $502 million or $8.92 per diluted share. Fourth Quarter GAAP Net Income: $114 million or $2.02 per diluted share. Full Year Non-GAAP Net Income: $462 million or $8.21 per diluted share. Fourth Quarter Non-GAAP Net Income: $130 million or $2.32 per diluted share. Full Year Adjusted EBITDA: $775 million, 41.2% margin. Fourth Quarter Adjusted EBITDA: $215 million, 43.5% margin, up 290 basis points year-over-year. Cash Flow from Operations: $534 million, 28% margin for 2024. Free Cash Flow: $337 million, up 17% year-over-year, 18% margin. CapEx: $197 million, approximately 10% of total revenues for 2024. Share Repurchase: Over 900,000 shares repurchased for $145 million in 2024. Cash and Cash Equivalents: $402 million, 0 debt at year-end 2024. Client Growth: Approximately 37,500 clients, 2% growth year-over-year. Employee Records: 7 million, up 3% year-over-year. Annual Revenue Retention Rate: 90%, consistent with 2023. Warning! GuruFocus has detected 1 Warning Sign with PAYC. Release Date: February 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Paycom Software Inc (NYSE:PAYC) achieved strong momentum in 2024, driven by focused execution, organic sales growth, and operational efficiency gains. The company reported a 14% year-over-year increase in fourth-quarter revenue, with total revenue reaching $494 million. Paycom's automated solutions, such as Beti and GONE, have significantly improved client ROI and operational efficiency, with some clients reducing payroll processing time by 85%. The company maintained a high annual revenue retention rate of 90% in 2024, consistent with the previous year. Paycom opened three new sales offices in January 2025, indicating strong sales growth and expansion potential. The company's client growth rate was relatively low at 2% compared to 2023, indicating potential challenges in acquiring new clients. Interest on funds held for clients is expected to decrease by 12% year-over-year in 2025, impacting overall revenue growth. Paycom's guidance for 2025 indicates a slowdown in revenue growth, with an expected increase of approximately 8% year-over-year at the midpoint. The transition to an annual revenue and adjusted EBITDA guidance framework may reduce transparency for investors accustomed to quarterly updates. The company's effective income tax rate is anticipated to increase to approximately 29% on a GAAP basis in 2025, up from 23% in 2024. Q: What drove the decision to transition from quarterly to annual guidance, given Paycom's predictability? A: Bob Foster, the new CFO, explained that the shift aligns with Paycom's long-term focus and investment strategy. The annual guidance better reflects how the company operates, with strong guidance and high EBITDA margins indicating confidence in their business model. Q: Can you elaborate on the 9% recurring revenue growth guidance and the macroeconomic assumptions behind it? A: Chad Richison, CEO, stated that the 9% growth is based on onboarding new business clients at higher revenue rates, consistent with past practices. Craig Boelte, CFO, added that the guidance does not factor in macroeconomic impacts, either positive or negative. Q: How does Paycom plan to balance gross margin improvements with investments in sales, marketing, R&D, and G&A? A: Chad Richison highlighted that sales and marketing have performed well, with record sales months. The focus is on larger clients, which has led to strong growth. Craig Boelte noted that new building costs impacted margins, but efficiencies are being sought across all areas. Q: What is the expected impact of the new sales offices on revenue and staffing? A: Chad Richison explained that it takes about 24 months for new offices to be fully staffed and operational. These offices will contribute to revenue in a smaller capacity initially, with a more significant impact expected in 2026 and beyond. Q: How does Paycom view the competitive environment, especially with recent industry consolidations? A: Chad Richison stated that the competitive environment remains unchanged, with competition benefiting clients. Paycom's focus on differentiation through automation and client value remains strong, and they do not see recent consolidations affecting their strategy. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Reuters
12-02-2025
- Business
- Reuters
Paycom forecasts annual revenue below estimates, veteran CFO Craig Boelte resigns
Feb 12 (Reuters) - Paycom Software (PAYC.N), opens new tab forecast full-year 2025 revenue below market estimates on Wednesday, as businesses cut back on spending for human capital management services, sending its shares down 3.3%. Paycom has promoted Bob Foster, its executive vice president of accounting and finance, to the role of chief financial officer, effective February 21. He will succeed veteran CFO Craig Boelte. An uncertain economic climate has led to IT budget cuts, prompting businesses to reduce spending, which has subsequently impacted demand for Paycom's HR and payroll services. Paycom Software offers cloud-based human capital management software, designed to manage employee records and facilitate talent management processes. Paycom forecast full-year 2025 revenue in the range of $2.02 billion to $2.04 billion, whose midpoint is below analysts' estimates of $2.05 billion, according to data compiled by LSEG. The payroll processor reported revenue of $493.8 million for the fourth quarter ended December 31, beating analysts' average estimate of $480.8 million. The Oklahoma City-based company's fourth-quarter adjusted profit per share stood at $2.32 compared with analysts' estimates of $1.97.
