DAY | Market Cap: $11.2B (02/03/26)
Industry:
Software

DESCRIPTION

Dayforce is a cloud-based human capital management (HCM) software company serving organizations with 100+ employees globally. Its flagship product, the Dayforce platform, is a single application covering the full employee lifecycle: payroll and tax, workforce management, HR, benefits, and talent (recruiting, onboarding, performance, succession). Dayforce's core go-to-market pitch is "12 to 1" simplification — replacing an average of 12 disparate HR systems with a single platform. The company also offers Powerpay, a simpler payroll and HR product for Canadian small businesses. Dayforce had 6,876 live customers as of year-end 2024, representing roughly 7.6 million active employees on the platform. Dayforce earns the majority of its revenue through per-employee-per-month (PEPM) subscription fees, with recurring revenue comprising over 85% of total revenue. Revenue growth is driven by new customer go-lives, upsell of additional modules to existing customers (add-ons comprised ~42% of bookings in FY24), and employee volume growth at customer organizations. Dayforce also earns float revenue by holding customer payroll funds in trust pending disbursement, and operates Dayforce Wallet, a digital pay card giving employees on-demand access to earned wages. Dayforce sells primarily through a direct sales force, with a growing system integrator channel targeted to prime 75% of implementations over time, reducing professional services costs and expanding sales reach.

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