Asure Software, Inc. (Nasdaq: ASUR) reported its financial results for the third quarter ended September 30, 2026, in a press release issued on October 29, 2026. The company reported total revenue of $40.0 million for the quarter, representing a 10% increase from $36.3 million in the prior year's third quarter. Recurring revenue for the quarter was $36.9 million, up 16% from $31.8 million in the same period last year.
Financial performance metrics for the third quarter included a net loss of $0.6 million compared to a net loss of $5.4 million in the prior year. The company reported EBITDA of $7.9 million and adjusted EBITDA of $10.5 million for the quarter. Gross profit was reported at $27.8 million, with non-GAAP gross profit reaching $30.2 million with a margin of 75%.
For the first nine months of 2026, Asure reported total revenue of $119.9 million, an 18% increase from the prior year period. Recurring revenue for the nine-month period was $108.6 million, up 16% year-over-year. The company reported a net loss of $4.4 million for the first nine months, compared to a net loss of $13.9 million in the prior year. EBITDA for the first nine months was $21.9 million, and adjusted EBITDA was $30.6 million.
In recent business developments, Asure announced the launch of AsureCentral, its unified platform, to its reseller network. The company also strengthened its position in the Oracle ecosystem by making Payroll Tax Management available on the Oracle Marketplace and entered into a relationship with Amazon Web Services (AWS) to offer its solutions through AWS Marketplace.
Subsequent to the quarter-end, Asure completed two significant transactions. On October 15, 2026, the company entered into a new credit agreement with a syndicate of banks led by MUFG Bank, Ltd., providing for borrowings of up to $115.0 million. The company received $85.0 million in gross proceeds at closing, of which $62.6 million was used to repay its existing credit agreement with MidCap Financial Trust. Additionally, Asure completed the acquisition of a payroll processing business located in the southeastern United States in October 2026 for an aggregate purchase price of $26.5 million. The acquired business serves mid-market organizations with cloud-based HR, payroll, and talent tools.
Based on these results and recent business trends, the company provided guidance for the fourth quarter of 2026, full year 2026, and full year 2027. For the fourth quarter of 2026, revenue is expected to be between $42.0 million and $44.0 million, with adjusted EBITDA expected to be between $10.0 million and $12.0 million. For full year 2026, revenue is expected to be between $162.0 million and $164.0 million, with adjusted EBITDA expected to be between $40.0 million and $42.0 million. For full year 2027, revenue is expected to be between $183.0 million and $187.0 million, with adjusted EBITDA expected to be between $47.6 million and $52.4 million.
