Company Overview

Dayforce Inc, formerly known as Ceridian HCM Holding Inc, transformed its identity in February 2024 to Dayforce Inc. Founded in 1992 and headquartered in Minneapolis, Minnesota, the company is a global technology leader specializing in cloud-based Human Capital Management (HCM) solutions. It serves large enterprises seeking integrated management of payroll, tax, benefits, and talent intelligence.

Core Products and Services

The company offers a robust suite of HCM solutions designed to streamline HR processes:

- Dayforce Platform: This is the flagship, comprehensive cloud HCM platform. It provides integrated functionalities across global Human Resources (HR), payroll and tax, workforce management, benefits administration, and talent intelligence.

- Powerpay: A cloud-based HR and payroll solution specifically tailored for the small business market, primarily serving customers in Canada with fewer than 100 employees.

- Professional Services: This includes essential support for its solutions, such as training, implementation consulting, and ongoing customer support.

- Additional Services: The company is also involved in the sale, rental, and maintenance of payroll time clocks, supporting the broader ecosystem of workforce management.

Market Position and Customer Base

As of fiscal year 2024, the Dayforce platform was the primary revenue driver, accounting for nearly 80% of company-wide revenue. It served approximately 7.62 million employees across 6,876 clients. As of August 21, 2025, the company employed 9,600 individuals.

While the US remains its primary market for the Dayforce platform, the company also has a presence in select European countries, Australia, and New Zealand.

Financial Performance

Q3 2024 Results (Reported October 30, 2024)

Dayforce demonstrated strong financial performance in the third quarter of 2024:

- Total Revenue: $440.0 million, representing a 16.6% increase year-over-year.

- Dayforce Recurring Revenue: Grew by 19% to $333.2 million, highlighting the strength of its subscription-based model.

- Net Income: $2.0 million, a significant turnaround from a net loss of $3.8 million in the same quarter of the previous year.

- Adjusted EBITDA: Reached $126.1 million, up from $107.2 million year-over-year, indicating improved operational profitability.

- Cash Flow: Generated $200.1 million in net cash from operating activities year-to-date, a substantial 54% increase.

Full Year 2024 Results (Reported February 5, 2025)

For the full fiscal year 2024, Dayforce reported significant growth:

- Annual Revenue: $1.76 billion, a 16.27% increase compared to $1.51 billion in the prior year.

- Adjusted EBITDA: $501.5 million, an increase from $410.2 million in FY2023.

- Adjusted EBITDA Margin: Improved to 28.5%, up 1.4 percentage points from 27.1% in the previous year.

- Free Cash Flow: $171.5 million, a notable increase from $105.1 million in FY2023.

- Global Employees on Platform: Reached 7.62 million employees by December 31, 2024, an 11.4% increase from 6.84 million in the prior year.

Recent Corporate Development

Thoma Bravo Acquisition

On August 21, 2025, Dayforce announced a definitive agreement to be acquired by private equity firm Thoma Bravo. This all-cash deal values Dayforce at an enterprise value of $12.3 billion, with Thoma Bravo offering $70 per share. The transaction is anticipated to close in early 2026, subject to shareholder and regulatory approvals. This move will result in Dayforce becoming a private company, allowing Thoma Bravo to further integrate it into its software portfolio.

Industry Recognition and Awards

Dayforce has consistently received high accolades within the HCM industry:

- Gartner Magic Quadrant: Named a Leader in the 2024 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the fifth consecutive year (October 2024).

- Gartner Critical Capabilities Report: Scored highest in North American Compliance Suite (1,000-2,500 employees) and North American Compliance Suite (2,500+ employees) in the 2024 Critical Capabilities report for Cloud HCM Suites.

- IDC MarketScape Leader: Recognized as a Leader in the IDC MarketScape - Worldwide Cloud-Enabled Human Capital Management 2024 Vendor Assessment.

- Software Reviews Awards: Awarded a gold medal and designated as a Leader in Software Reviews Data Quadrant Awards for both HCM Enterprise Software and WFM Enterprise Software.

- Workplace Recognition: For the second consecutive year, Dayforce was recognized by Newsweek magazine and the Best Practice Institute as one of the Top 100 Most Loved Workplaces in America.

Trading Information

Dayforce Inc was listed on both the New York Stock Exchange (NYSE: DAY) and the Toronto Stock Exchange (TSX: DAY). The company does not currently pay dividends to its shareholders.

_Note: Following the acquisition announcement by Thoma Bravo, the stock is expected to be delisted. Current trading information might be subject to change based on the deal's closing._

Dayforce Inc's continued focus remains on expanding its cloud-based HCM solutions, fostering strong customer relationships, and driving innovation in the human capital management technology sector.