Asure Software (ASUR) Q4 2025 earnings summary

Executive summary

• Full-year 2025 revenue reached $140.5 million, up 17% year-over-year, with Q4 revenue rising 28% to $39.3 million and net income of $0.8 million versus a prior year loss.

• Organic growth accelerated to 10% in Q4 2025, up from 4% in Q3, and 5% for the full year.

• Over two-thirds of clients upgraded to the Asure Central portal, driving improved attach rates and cross-selling; multi-product payroll customers grew 10% in Q4.

• AI initiatives, including the Luna AI agent, handled 80,000+ client interactions in 90 days, reducing support workload and accelerating product development.

• The AsureWorks ASO model was launched, expanding managed services and increasing revenue per client.

Financial highlights

• Q4 2025 revenue was $39.3 million, up 28% year-over-year; recurring revenue grew 18% to $33.7 million.

• Full-year recurring revenue was $127.3 million, up 11% year-over-year.

• Q4 net income was $0.8 million (vs. $3.2 million loss prior year); full-year net loss was $13.1 million (vs. $11.8 million loss prior year).

• Q4 EBITDA was $8.7 million (up from $3.4 million); full-year EBITDA was $18.2 million (up from $11.4 million).

• Adjusted EBITDA for Q4 was $11.4 million (82% increase); full-year adjusted EBITDA was $32 million (42% increase).

• Ended 2025 with $25.2 million in cash and $67.6 million in debt.

Outlook and guidance

• Q1 2026 revenue expected between $41 million and $43 million; adjusted EBITDA between $10 million and $11 million.

• Full-year 2026 revenue guidance raised to $159 million–$162 million, with adjusted EBITDA margins of 23%–25%.

• Double-digit organic growth targeted for 2026, with continued investment in technology and sales force expansion.