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Dayforce beat sales and revenue forecasts in Q2, CEO David Ossip told investors on its earnings call Wednesday.
“In the second quarter, we delivered strong results. Revenue growth was healthy as Dayforce continues to exhibit strong appeal with customers to power best-in-class HCM experiences for their employees,” Ossip said on the call.
- Dayforce reported 16% YoY revenue growth in Q2.
- Total revenue hit $423.3 million in the quarter.
Dayforce also reported that 6,657 customers were live on the platform as of June 30, the close of the second quarter, an increase of 82 customers since the end of Q1.
“We are encouraged by our achievements to date in 2024. The core value proposition of the Dayforce platform of creating simplicity at scale, reducing complexity, driving financial ROI, and improving employee engagement resonates very well with customers,” Ossip said.
Oh, Canada. Dayforce execs pointed to an expanded partnership with the government of Canada, with which it’s been working on a payroll modernization project since 2021.
CFO Jeremy Johnson boasted of “a contract for $85 million Canadian [dollars], or approximately $62 million USD, to amend the contract with Dayforce to include additional talent capabilities, provide incremental licenses, and to continue to expand testing and design Dayforce to its specific needs.”
Beyond the Great North, Dayforce also sees continued growth in the international market.
“We saw strong demand for Dayforce globally, and sustained strength in both enterprise and major markets on a year over year basis,” Ossip said.
GenAI. Company officials also spoke about Dayforce’s investment in AI. The platform, formerly known as Ceridian, launched a new suite of features powered by AI last October.
The developments in AI technology and the Dayforce copilot experience offer HR pros efficiency gains and “really drastically improv[e] the overall experience for the frontline workers, the frontline managers, and for the executives,” as well as employees, Ossip told investors.
“When we compare it to the competitors…I do believe that we have a strong advantage from an AI perspective that already is reflected in the US,” he said.