ASUR earnings analysis
What we found in ASUR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Asure Software, Inc. reported revenue of $42.76 million for Q1 2026, a 23% increase from Q1 2025, alongside a positive turnaround in net income, recording earnings of $0.02 per share. Despite a decline in cash from $25.24 million to $19.22 million and a significant increase in interest expense, management remains optimistic about ongoing client growth and product development, with continued investment in acquisitions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Total revenue rose to $42.76M, up 23% from $34.85M in Q1 2025.
- Positive EPS
- Diluted EPS improved to $0.02, a recovery from a loss of $0.09 in Q1 2025.
- Gross Profit Increase
- Gross profit increased by 24% to $30.47M, maintaining a steady gross margin at 71%.
- Recurring Revenue Increases
- Recurring revenue grew 14% to $37.76M, reflecting higher payroll services.
- Professional Services Revenue Spike
- Professional services revenue surged by 200%, reaching $5M due to hardware sales.
- Improved Operating Income
- Operating income reached 2% of revenue compared to (6)% in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Interest Expense
- Interest expense rose to $1.75M, up from $0.45M in the same quarter last year.
- Decreased Working Capital
- Working capital decreased by $5.83M to $12.82M, limiting operational flexibility.
- Heightened Cash Usage
- Cash and cash equivalents fell to $19.22M from $25.24M, signaling liquidity concerns.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.02
- Gross margin
- 71%
- Operating margin
- 2%
What they said about what is next.
Management highlights expectations for continued revenue growth as new applications are introduced, but no specific numeric guidance provided.
The filing reads better than the one before it.
What came before.
- 10-K · February 26, 2026
- Asure presents an HCM SaaS platform serving more than 100,000 clients (approximately 35% direct) and a partner-driven growth strategy focused on Reseller and Referral partners. Financials show a clear inflection in…
- 10-Q · May 1, 2025
- Asure reported Q1 2025 revenue of $34,854,000, up $3,202,000 (10.1%) versus Q1 2024, driven largely by recurring revenue of $33,187,000. Despite top-line growth and positive operating cash flow of $1,996,000, operating…
- 10-K · March 6, 2025
- Asure is a cloud-based SaaS HCM provider selling directly and via Reseller Partners, serving more than 100,000 clients (approximately 20% direct). The company generated roughly $120.1M of revenue in FY2024 (sum of…
- 10-Q · October 31, 2024
- Asure reported Q3 revenue of $29.304M (three months ended September 30, 2024) largely flat versus prior-year quarter, driven by recurring revenue of $28.626M (up $4.793M YoY). Despite revenue stability, the company…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing ASUR makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever