Asure Software, Inc. today announced its financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, total revenue increased modestly to $119.8 million, with revenue growth of 17% year-over-year when adjusted to exclude the one-time impact of ERTC revenue.
Recurring revenue, a key focus for Asure, grew 15% year-over-year for the full year and now accounts for 96% of total revenue, a significant increase from 84% in 2023. In the fourth quarter, revenue, excluding the ERTC impact, grew 22% year-over-year, reaching $30.8 million.
The company's contracted revenue backlog continued to expand, providing increased visibility into future growth. The Payroll Tax Management product was a strong performer, driving several major multi-year agreements with enterprise clients, reinforcing the durability of Asure's revenue streams.
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