Dayforce, Inc. is a global human capital management (HCM) software company. Its flagship Cloud HCM platform, Dayforce, provides a full suite of HCM functionality, including global human resources, payroll and tax, workforce management, benefits, and talent intelligence. In addition to Dayforce, the company sells Powerpay, a Cloud HR and payroll solution for the Canadian small business market. Dayforce supports payroll in over 200 countries and territories. The company invests in maintenance and necessary updates with the legacy technology to support its customers and continue to migrate them to Dayforce. Revenue from recurring solutions includes investment income generated from holding customer funds, also referred to as float revenue or float.

• Employees: 9,084 (as of December 31, 2023)
• Geographic Footprint: North America, APJ, and EMEA
• Headquarters: Minneapolis, Minnesota
• Founded: Formerly known as Ceridian HCM Holding Inc.
• Number of locations/facilities: Leased office spaces across North America, APJ, and EMEA
• Revenue: $1.51 billion (FY2023)
• Key Subsidiaries/Brands: Dayforce, Powerpay

• CEO: David D. Ossip
• CFO: Jeremy R. Johnson
• President, Customer and Revenue Operations: Stephen H. Holdridge
• Executive Vice President and Chief Revenue Officer: Samer Alkharrat
• Executive Vice President and Chief Operating Officer: Christopher R. Armstrong
• Executive Vice President, Chief Product and Technology Officer: Joseph B. Korngiebel
• Executive Vice President, General Counsel and Corporate Secretary: William E. McDonald

• Annual Revenue: $1.51 billion (FY2023)
• Net Income: $54.8 million (FY2023)
• Total Assets: $9.01 billion (as of December 31, 2023)
• Number of Employees: 9,084 (as of December 31, 2023)
• Key Financial Highlights: Cloud ARR of $1.25 billion (FY2023), Dayforce revenue retention rate of 97.1% (FY2023), Adjusted EBITDA of $410.2 million (FY2023)

Dayforce is a single application that provides continuous real-time calculations across all modules to enable, for example, payroll administrators access to data through the entire pay period, and managers access to real-time data to optimize work schedules. Dayforce provides global HR, payroll and tax, workforce management, benefits, and talent intelligence functionality.

• Dayforce: Cloud HCM platform for organizations of all sizes
• Powerpay: Cloud HR and payroll solution for the Canadian small business market
• Dayforce Wallet: A digital payment solution that gives employees instant access to their net earnings through on-demand pay requests
• Dayforce Talent Intelligence: A suite of next generation talent acquisition and talent management solutions powered by Artificial Intelligence (AI) and driven by data

Dayforce categorizes its solutions into three segments:

• Cloud recurring: Primarily generated from HCM solutions delivered via Dayforce and Powerpay
• Other recurring: Includes legacy North America solutions and acquired solutions in the Asia Pacific Japan (APJ) region
• Professional services and other: Includes implementation services and other professional services

Dayforce's strategic growth levers include acquiring new customers, extending the Dayforce platform, expanding within the enterprise segment, accelerating global expansion, and driving incremental value for customers through innovation. The company is focused on modernizing its technology platforms and expanding payroll functionality into new markets.

• Key strategic initiatives: Focus on growth in Cloud solutions, global expansion, and innovation in adjacent markets
• Growth drivers: Increasing demand for Cloud HCM solutions, expansion into new markets, and cross-selling opportunities
• Investment priorities: Continued investment in R&D, sales and marketing, and customer support

The market for HCM technology solutions is highly competitive and subject to changing technology and shifting client needs. Dayforce competes with firms that provide both integrated and point solutions for HCM, as well as with local providers in each jurisdiction that it operates. Globally, it competes with legacy payroll service providers, as well as Cloud-enabled client-server HCM providers. In addition, it faces competition from large, long-established enterprise application software vendors.

• Market Position: Leader in the 2023 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the fourth consecutive year
• Key Competitors: Legacy payroll service providers, Cloud-enabled client-server HCM providers, and large enterprise application software vendors
• Industry Trends: Increasing adoption of Cloud-based HCM solutions, demand for global payroll capabilities, and the use of AI in talent management

• Market Risks: Competition from other HCM providers, potential inability to maintain high Cloud revenue growth rates, and the impact of economic downturns on customer spending
• Operational Risks: Potential disruptions in the movement of funds for payroll transactions, system failures or security breaches, and the challenges of managing a rapidly growing global business
• Financial Risks: Potential inability to utilize net operating loss carryforwards, risks associated with indebtedness, and fluctuations in foreign currency exchange rates
• Regulatory Risks: Compliance with data privacy laws, anti-corruption laws, and the risk of non-compliance with the FTC consent order