Paycom Software, Inc.

Good afternoon. My name is Tamiya and I will be your conference operator today. At this time, I would like to welcome everyone to Paycom's second quarter 2025 financial results conference call. All lines have been muted on, have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press the star key followed by the number two on your telephone keypad. Thank you. I will now turn the call over to James Sanford, head of Investor Relations. You may begin.

Thank you and welcome to Paycom's earnings conference call for the second quarter of 2025. Certain statements made on this call that are not historical facts, including those related to our future plans, objectives and expected performance, are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements represent our outlook only as of the date of this conference call. While we believe any forward looking statements made on this call are reasonable, actual results may differ materially because the statements are based on our current expectations and subject to risks and uncertainties. These risks and uncertainties are discussed in our filings with the SEC, including our most recent annual report on Form 10K. You should refer to and consider these factors when relying on such forward looking information. Any forward looking statement made speaks only as of the date on which it is made, and we do not undertake and expressly disclaim any obligation to update or alter our forward looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Also during today's call, we will refer to certain non-GAAP financial measures, including adjusted EBITDA, non-GAAP net income and certain adjusted expenses. We use these non-GAAP financial measures to review and assess our performance and for planning purposes. A reconciliation schedule showing GAAP versus non-GAAP results is included in the press release that we issued after the close of the market today and is available on our website at .paycom.com. I will now turn the call over to Chad Richardson, Paycom CEO and president. Chad.

Thanks, James, and thank you to everyone joining our call today. I'll focus my comments on our second quarter achievements and highlight our latest AI command driven product, IWAN. I'll then turn it over to Bob for a view of our second quarter results and an update on our full year guidance. We will then take questions. With that, let's get started. We delivered very strong second quarter results and we are building on our momentum by continuing to strengthen recurring revenue growth and margin expansion in 2025. Outside sales continues to set records and we recently released IWAN, the most significant product in our company's history. We already have the most automated solution in the industry and IWAN delivers even more value to our clients through AI and automation. IWAN will transform a client's relationship with Paycom and with its own business. Hopefully everyone has seen the IWAN demo we linked in today's earnings press release issued at the close of the market. If you did, you saw numerous use cases for IWAN on the employee, manager, administrator and executive side of the software. You also saw how IWAN eliminates the need for a Paycom user to be trained on our software. With IWAN's command driven AI, users either type in or leverage voice activated functionality to command the system. And IWAN is designed to immediately provide the answer with accurate results. This means that navigation and asking others for system information is rendered obsolete. A critical component of AI is the data it pulls from. And because IWAN pulls from Paycom's single database, it eliminates problems created by inconsistent or duplicative data sets. On the manager side, IWAN supports HR teams and organization leaders with instant employee information. For example, a manager can use IWAN to pull data on when an employee returns from vacation, see who's clocked in for the day, or analyze an employee's pay history. These are just a few examples of the power of IWAN. Before IWAN, executives like myself were dependent upon others to complete reports and provide critical decision making information. Today, in IWAN's executive mode, executives using Paycom now have the information they need at their fingertips, enabling them to be daily users of our solution without ever having to be trained on the system. Just tell it what you want and IWAN delivers, making executives even smarter and more effective. Now, I can quickly find any information about my staff available in our single database because we track the entire employee lifecycle and have data from applicant tracking, onboarding, Paycom learning, expenses, benefits, time and attendance, payroll, schedules, surveys, and more, all accessible through IWAN. Early feedback has been phenomenal with clients calling this a total game changer. IWAN's command driven AI engine will increase usage among non-daily users in our system, and I fully expect I want to increase satisfaction and client ROI. Voice activated command driven functionality is the future for all software, and Paycom's future started last week. We invest in innovation to increase client value, and this is skewing strong sales for Our sales teams continue to set new records every quarter, and I'm very pleased with their strong execution. Our sales force was recently recognized by Selling Power magazine as one of the best sales organizations in the country. This is a testament to our sales leadership, training, and culture. Finally, Time magazine listed Paycom amongst its best companies for a second consecutive year. Newsweek placed Paycom in the top 20 of their inaugural ranking of America's best online platforms and comparably recognized Paycom for best career growth and best leadership teams. I'd like to thank our employees for their hard work and commitment that are reflected in these awards. We had very strong results in the first half, and we are set up for continued strong momentum for the rest of 2025 and beyond. With that, let me turn it over to Bob.