Paycor HCM (PYCR) 10-K 28 Aug 23 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2023	Jul. 31, 2023	Dec. 31, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	001-40640
Entity Registrant Name	PAYCOR HCM, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-1813909
Entity Address, Address Line One	4811 Montgomery Road
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45212
City Area Code	800
Local Phone Number	381-0053
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	PYCR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,530
Entity Common Stock, Shares Outstanding		176,863,070
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCEPortions of the registrant’s definitive Proxy Statement on Schedule 14A to be prepared in connection with its 2023 Annual Meeting of Stockholders (the “Proxy Statement”) are incorporated by reference in Part III of this Annual Report on Form 10-K. The registrant intends to file the definitive Proxy Statement with the Securities and Exchange Commission not later than 120 days following June 30, 2023.
Entity Central Index Key	0001839439
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2023
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Cincinnati, Ohio

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 95,233	$ 133,041
Accounts receivable, net	30,820	21,511
Deferred contract costs	54,448	37,769
Prepaid expenses	10,448	9,421
Other current assets	2,581	1,874
Current assets before funds held for clients	193,530	203,616
Funds held for clients	1,049,156	1,715,916
Total current assets	1,242,686	1,919,532
Property and equipment, net	34,573	31,675
Operating lease right-of-use assets	16,834	0
Goodwill	767,738	750,155
Intangible assets, net	260,472	263,069
Capitalized software, net	53,983	40,002
Long-term deferred contract costs	162,657	125,705
Other long-term assets	2,232	1,179
Total assets	2,541,175	3,131,317
Current liabilities:
Accounts payable	28,350	13,945
Accrued expenses and other current liabilities	24,119	13,907
Accrued payroll and payroll related expenses	43,858	44,592
Deferred revenue	13,083	11,742
Current liabilities before client fund obligations	109,410	84,186
Client fund obligations	1,053,926	1,719,047
Total current liabilities	1,163,336	1,803,233
Deferred income taxes	18,047	31,895
Long-term operating leases	16,061	0
Other long-term liabilities	70,047	11,458
Total liabilities	1,267,491	1,846,586
Commitments and contingencies (Note 18)
Stockholders' equity:
Common stock $0.001 par value per share, 500,000,000 shares authorized, 176,535,236 shares outstanding at June 30, 2023 and 174,909,539 shares outstanding at June 30, 2022	177	175
Treasury stock, at cost, 10,620,260 shares at June 30, 2023 and June 30, 2022	(245,074)	(245,074)
Preferred stock, $0.001 par value, 50,000,000 shares authorized, — shares outstanding at June 30, 2023 and June 30, 2022	0	0
Additional paid-in capital	2,011,194	1,926,800
Accumulated deficit	(489,495)	(395,389)
Accumulated other comprehensive loss	(3,118)	(1,781)
Total stockholders' equity	1,273,684	1,284,731
Total liabilities and stockholders' equity	$ 2,541,175	$ 3,131,317

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Jun. 30, 2022	Dec. 29, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares outstanding (in shares)	176,535,236	174,909,539
Treasury stock (in shares)	10,620,260	10,620,260	10,620,260
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Recurring and other revenue	$ 518,874	$ 427,032	$ 350,956
Interest income on funds held for clients	33,818	2,355	1,821
Total revenues	552,692	429,387	352,777
Cost of revenues	187,140	168,188	154,487
Gross profit	365,552	261,199	198,290
Operating expenses:
Sales and marketing	212,094	170,629	106,123
General and administrative	203,850	187,050	145,480
Research and development	54,263	43,140	36,020
Total operating expenses	470,207	400,819	287,623
Loss from operations	(104,655)	(139,620)	(89,333)
Other (expense) income:
Interest expense	(4,638)	(541)	(2,541)
Other	4,630	1,570	(1,420)
Loss before benefit for income taxes	(104,663)	(138,591)	(93,294)
Income tax benefit	(11,448)	(30,574)	(20,812)
Net loss	(93,215)	(108,017)	(72,482)
Less: Accretion of redeemable noncontrolling interests	0	11,621	24,438
Net loss attributable to Paycor HCM, Inc.	$ (93,215)	$ (119,638)	$ (96,920)
Basic net loss attributable to Paycor HCM, Inc. per share (in dollars per share)	$ (0.53)	$ (0.69)	$ (0.66)
Diluted net loss attributable to Paycor HCM, Inc. per share (in dollars per share)	$ (0.53)	$ (0.69)	$ (0.66)
Weighted average common shares outstanding:
Basic (in shares)	176,039,651	172,636,523	146,364,225
Diluted (in shares)	176,039,651	172,636,523	146,364,225
Recurring and other revenue	Service [Member]	Service [Member]	Service [Member]

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (93,215)	$ (108,017)	$ (72,482)
Other comprehensive loss, net of tax:
Unrealized (loss) gain on foreign currency translation	(120)	(297)	425
Unrealized loss on available-for-sale securities, net of tax	(1,217)	(2,683)	(43)
Other comprehensive (loss) income, net of tax	(1,337)	(2,980)	382
Comprehensive loss	(94,552)	(110,997)	(72,100)
Less: Comprehensive income attributable to redeemable noncontrolling interests	0	11,621	24,438
Comprehensive loss attributable to Paycor HCM, Inc.	$ (94,552)	$ (122,618)	$ (96,538)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Series A Preferred Stock	Total Stockholders' Equity	Total Stockholders' Equity Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Preferred Stock Series A Preferred Stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Preferred stock, shares outstanding, beginning balance (in shares) at Jun. 30, 2020					0	0
Stockholders' equity, beginning balance at Jun. 30, 2020			$ 953,325		$ 0	$ 0	$ 152	$ 0	$ 1,129,216	$ (178,813)		$ 2,770
Common stock, shares outstanding, beginning balance (in shares) at Jun. 30, 2020							151,718,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Paycor HCM, Inc.	$ (96,920)		(96,920)							(96,920)
Stock-based compensation expense			4,172						4,172
Other comprehensive income (loss)	382		382									382
Issuance of preferred stock, net (in shares)						7,715
Issuance of common stock sold in the initial public offering, net of offering costs and underwriting discount			262,772			$ 262,772
Repurchase of common stock, at cost (in shares)							(10,620,260)
Repurchase of common stock, at cost			(245,074)				$ (11)	(245,074)	11
Other			(18)							(18)
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2021					0	7,715
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2021							141,097,740
Stockholders' equity, ending balance at Jun. 30, 2021			878,639		$ 0	$ 262,772	$ 141	(245,074)	1,133,399	(275,751)		3,152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Paycor HCM, Inc.	(119,638)		(119,638)							(119,638)
Stock-based compensation expense			71,376						71,376
Other comprehensive income (loss)	$ (2,980)		(2,980)									(2,980)
Issuance of common stock sold in the initial public offering, net of offering costs and underwriting discount (in shares)							21,275,000
Issuance of common stock sold in the initial public offering, net of offering costs and underwriting discount			454,147				$ 21		454,126
Conversion of Series A Preferred Stock to common stock upon initial public offering (in shares)						(7,715)	11,705,039
Conversion of Series A Preferred Stock to common stock upon initial public offering			0			$ (262,772)	$ 12		262,760
Issuance of common stock upon vesting of restricted stock units at initial public offering (in shares)							352,124
Issuance of common stock under employee stock plans (in shares)							479,636
Issuance of common stock under employee stock plans			3,187				$ 1		3,186
Other			0						1,953			(1,953)
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2022	0				0	0
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2022	174,909,539						174,909,539
Stockholders' equity, ending balance at Jun. 30, 2022	$ 1,284,731		1,284,731	$ 891	$ 0	$ 0	$ 175	(245,074)	1,926,800	(395,389)	$ 891	(1,781)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Net loss attributable to Paycor HCM, Inc.	$ (93,215)		(93,215)							(93,215)
Stock-based compensation expense			78,225						78,225
Other comprehensive income (loss)	$ (1,337)		(1,337)									(1,337)
Net settlement for taxes			(2,459)						(2,459)
Issuance of common stock under employee stock plans (in shares)							1,625,697
Issuance of common stock under employee stock plans			8,630				$ 2		8,628
Preferred stock, shares outstanding, ending balance (in shares) at Jun. 30, 2023	0	0			0	0
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2023	176,535,236						176,535,236
Stockholders' equity, ending balance at Jun. 30, 2023	$ 1,273,684		$ 1,273,684		$ 0	$ 0	$ 177	$ (245,074)	$ 2,011,194	$ (489,495)		$ (3,118)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (93,215)	$ (108,017)	$ (72,482)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	4,790	6,457	6,947
Amortization of intangible assets and software	126,357	124,016	139,354
Amortization of deferred contract costs	46,440	31,471	19,501
Stock-based compensation expense	78,225	71,376	4,172
Deferred tax benefit	(11,669)	(30,940)	(21,022)
Bad debt expense	4,715	2,085	1,791
Loss (gain) on sale of investments	217	(2)	(127)
Gain on installment sale	0	(1,359)	0
Loss (gain) on foreign currency exchange	237	309	(755)
Loss on lease exit	1,010	9,112	0
Naming rights accretion expense	4,228	0	0
Change in fair value of deferred consideration	0	(138)
Loss on extinguishment of debt	0	0	1,806
Other	(809)
Other		88	637
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable	(14,592)	(7,133)	(7,731)
Prepaid expenses and other assets	5,081	(2,745)	(764)
Accounts payable	13,091	2,015	(244)
Accrued liabilities and other	(16,575)	12,195	5,430
Deferred revenue	655	(4,877)	(2,778)
Deferred contract costs	(100,071)	(79,562)	(62,962)
Net cash provided by operating activities	48,115	24,351	10,773
Cash flows from investing activities:
Purchases of client funds available-for-sale securities	(421,690)	(211,473)	(237,054)
Proceeds from sale and maturities of client funds available-for-sale securities	319,668	166,372	235,768
Purchase of property and equipment	(5,041)	(1,986)	(3,335)
Proceeds from note receivable on installment sale	0	3,040	0
Acquisition of intangible assets	(19,516)	(9,706)	(9,252)
Acquisition of businesses, net of cash acquired	(24,126)	0	(16,740)
Internally developed software costs	(42,257)	(30,797)	(21,968)
Net cash used in investing activities	(192,962)	(84,550)	(52,581)
Cash flows from financing activities:
Net change in cash and cash equivalents held to satisfy client funds obligations	(664,235)	1,037,543	25,983
Payment of contingent consideration	0	0	(3,000)
Payment of deferred consideration	0	(2,752)	0
Proceeds from promissory note with related party	0	0	64,989
Repayment of promissory note with related party	0	0	(64,989)
Proceeds from line-of-credit	0	3,500	107,020
Repayments of line-of-credit	0	(52,600)	(62,921)
Proceeds from debt	0	0	25,000
Repayments of debt and finance lease obligations	(284)	(323)	(44,517)
Proceeds from issuance of preferred stock, net of offering costs	0	0	262,772
Purchase of treasury stock at cost	0	0	(245,074)
Proceeds from the issuance of common stock sold in the IPO, net of offering costs and underwriting discount	0	454,915	0
Redemption of Redeemable Series A Preferred Stock (acquisition of noncontrolling interest)		(260,044)	(9,350)
Withholding taxes paid related to net share settlements	(2,459)	0	0
Proceeds from exercise of stock options	345	0	0
Proceeds from employee stock purchase plan	8,285	3,187	0
Other financing activities	(700)	(395)	(597)
Net cash (used in) provided by financing activities	(659,048)	1,183,031	55,316
Impact of foreign exchange on cash and cash equivalents	18	91	44
Net change in cash, cash equivalents, restricted cash and short-term investments, and funds held for clients	(803,877)	1,122,923	13,552
Cash, cash equivalents, restricted cash and short-term investments, and funds held for clients, beginning of period	1,682,923	560,000	546,448
Cash, cash equivalents, restricted cash and short-term investments, and funds held for clients, end of period	879,046	1,682,923	560,000
Supplemental disclosure of non-cash investing, financing and other cash flow information:
Capital expenditures in accounts payable	167	5	129
Capital expenditures purchased via financing arrangements	3,544	0	0
Cash paid for interest	0	154	1,347
Right-of-use assets obtained in exchange for operating lease liabilities	6,359	0	0
Reconciliation of cash, cash equivalents, restricted cash and short-term investments, and funds held for clients to the Consolidated Balance Sheets
Cash and cash equivalents	95,233	133,041	2,634
Funds held for clients	783,813	1,549,882	557,366
Total cash, cash equivalents, restricted cash and short-term investments, and funds held for clients	$ 879,046	$ 1,682,923	$ 560,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS: Paycor HCM, Inc. (“Paycor HCM” or “the Company”) is a leading provider of human capital management (“HCM”) software located primarily in the United States (“U.S.”). Paycor’s solutions target small and medium-sized businesses with tens to thousands of employees. Solutions provided include payroll, human resources (“HR”) services, talent management, workforce management, benefits administration, reporting and analytics, and other payroll-related services. Services are generally provided in a Software-as-a-Service (“SaaS”) delivery model utilizing a cloud-based platform. Paycor HCM is a holding company with no material operating assets or operations that was formed on August 24, 2018 to effect the acquisition of Paycor, Inc. and its subsidiaries (“Paycor”) by certain investment funds (the “Apax Funds”) advised by Apax Partners LLP, a leading global private equity advisory firm (“Apax Partners”). On September 7, 2018, Paycor HCM, through its subsidiary companies, entered into the Agreement and Plan of Merger to acquire Paycor (the “Apax Acquisition”). The Apax Acquisition closed on November 2, 2018. As a result of the Apax Acquisition, Paycor became an indirect controlled subsidiary of Paycor HCM. Initial Public Offering On July 23, 2021, the Company completed an initial public offering (“IPO”) of 21,275,000 shares of its common stock, $0.001 par value per share, at an offering price of $23.00 per share (the “IPO Price”). In aggregate, proceeds from the IPO were approximately $454,147, which is net of approximately $30,583 in underwriters’ discount and $4,595 of offering costs. During the fiscal year ended June 30, 2022, $3,827 of offering costs were paid. Additionally, upon the closing of the IPO: • all of the Company’s outstanding shares of Series A Preferred Stock were automatically converted into 11,705,039 shares of the Company’s common stock; • the Company used a portion of the proceeds to effect the redemption of all of the outstanding shares of the Series A Redeemable Preferred Stock (acquisition of noncontrolling interest) (“Series A Redeemable Preferred Stock” or “Redeemable Noncontrolling Interest”) at a redemption price of 101% of the liquidation preference, plus the amount of all accrued dividends for the then current and all prior dividend payment periods, for a total of $260,044; • the outstanding Long Term Incentive Plan Units (“LTIP Units”) converted to 1,761,578 restricted stock units (“RSUs”) and the Company began recognizing compensation expense equal to the aggregate dollar value over the requisite two-year service period; and • the performance-based incentive units granted under the Pride Aggregator, L.P. Management Equity Plan (“MEP”) converted to time-based incentive units, with 25% vesting upon successive 6-month anniversary dates for the 24 months beginning on the date of the Company’s IPO. In connection with the Company’s IPO, the Company executed a 1,517.18 for 1 share stock split (“IPO Stock Split”) relating to its common stock. All share and per share amounts have been retroactively adjusted to reflect the IPO Stock Split for all periods presented within the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying financial statements are presented on a consolidated basis for all periods presented. All intercompany transactions and balances have been eliminated in consolidation. Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the recognition of revenue, evaluation of potential impairment of goodwill and intangible assets, and the valuation of stock-based compensation. Concentrations of risk The Company regularly maintains deposits in banks which may, at times, exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). The Company mitigates exposure to credit risk by placing cash and cash equivalents with highly rated financial institutions. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on its cash and cash equivalents. No individual client represents more than 1% of total revenues. The majority of all revenues are generated by clients in the United States. Cash and cash equivalents For purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments purchased with an original issue maturity of three months or less and money market funds to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value given the short-term maturity of those instruments. Funds held for clients The Company generally collects substantially all funds from clients in advance of performing payroll and payroll tax filing services on behalf of those clients. Funds held for clients consist of cash and cash equivalents and debt-security investments. Debt-security investments are classified as available-for-sale and are recorded at fair value, and consist of U.S. Treasury Notes, direct obligations of U.S. government agencies such as the Federal Home Loan Bank, the Federal National Mortgage Association and the Federal Farm Credit Bank, high grade corporate bonds, FDIC insured certificates of deposit, and other short-term and long-term investments. At June 30, 2023 and 2022, all the Company’s corporate bond investments are rated investment grade or better. The Company has classified funds held for clients as a current asset since these funds are held solely for the purposes of satisfying client obligations to remit funds relating to payroll and payroll tax filing services. Unrealized gains and losses, net of applicable income taxes, are reported as other comprehensive loss, net of tax in the consolidated statements of comprehensive loss. Realized gains and losses on the sale of securities are determined by specific identification of the security’s cost basis. Client fund obligations Client fund obligations represent the Company’s contractual obligations to remit funds to satisfy clients’ payroll and tax payment obligations and are recorded in the accompanying consolidated balance sheets at the time the Company obtains the funds from clients. The client fund obligations represent the liabilities that will be remitted to the appropriate client employees, taxing authorities and other parties within one year of the balance sheet date. Accounts receivable, net Accounts receivable balances are shown on the consolidated balance sheets net of the allowance for doubtful accounts of $7,032 and $3,268 as of June 30, 2023 and June 30, 2022, respectively. The allowance for doubtful accounts considers factors such as historical experience, credit quality, age of the accounts receivable balance and current and forecasted economic conditions that may affect a client’s ability to pay. The Company performs ongoing credit evaluations and generally requires no collateral from clients. Management reviews individual accounts as they become past due to determine collectability. The allowance for doubtful accounts is adjusted periodically based on management’s consideration of past due accounts. Individual accounts are charged against the allowance when all reasonable collection efforts have been exhausted. Fiscal Years Ended June 30, (in thousands) 2023 2022 2021 Balance, beginning of period $ 3,268 $ 2,402 $ 1,217 Modified retrospective adoption adjustment 891 — — Write-offs (1,842) (1,219) (606) Bad debt expense 4,715 2,085 1,791 Balance, end of period $ 7,032 $ 3,268 $ 2,402 Property and equipment, net Property and equipment are recorded at cost. Depreciation and amortization on the property and equipment is computed using the straight-line method over the following estimated useful lives: Computers, equipment and software 3 to 5 years Office equipment 5 to 7 years Furniture and fixtures 7 years Leasehold improvements Over lease term Land improvements 15 years Building 30 years Long-lived assets, including property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques. In accordance with the decision to exit certain leases of facilities in fiscal year 2022, the carrying value of ceased-use furniture, fixtures, equipment and leasehold improvements was written off, resulting in an impairment charge of $4,910, which was recorded to general and administrative expense within the consolidated statement of operations. No impairment was recorded for any other period presented. Goodwill and intangible assets, net Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. The Company performs an annual impairment review of goodwill in its fiscal fourth quarter and additional impairment reviews when events and circumstances indicate it is more likely than not that an impairment may have occurred. The Company assesses goodwill for impairment at the consolidated level, which represents its single reporting unit. In evaluating goodwill for impairment, the Company has the option to first perform a qualitative assessment to determine whether further impairment testing is necessary or to perform a quantitative assessment by comparing the fair value of its single reporting unit to its carrying amount, including goodwill. Under the qualitative assessment, an entity is not required to calculate the fair value of a reporting unit unless the entity determines that it is more likely than not that its fair value is less than its carrying amount. Qualitative factors include macroeconomic conditions, industry and market conditions, cost factors, and overall financial performance, among others. Under a quantitative assessment, fair value of the Company’s single reporting unit is estimated using a weighted methodology considering the output from both the income and market approaches. The income approach incorporates the use of a discounted cash flow (“DCF”) analysis. A number of judgments are involved in the application of the DCF model, including projections of business performance, weighted average cost of capital, and terminal values. The market approach is performed using the Guideline Public Companies method which is based on earnings multiple data derived from publicly traded peer group companies. The Company elected to perform a qualitative assessment during both fiscal years 2023 and 2022, and determined for both periods that no indicators of impairment existed, and the fair value of the Company significantly exceeded its carrying amount. Other intangible assets principally consist of acquired software, customer relationships, trade names, and exclusive naming rights to Paycor Stadium (the “Naming Rights”) and are carried at cost, less accumulated amortization. These intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company tests intangible assets for potential impairment in a manner consistent with other long-lived assets when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. No impairment was recorded for any periods presented. Capitalized software, net The Company has developed payroll and human resources software to provide its clients with the Company’s services. Capitalized costs include external direct costs of materials and services associated with developing or obtaining internal-use computer software and certain payroll and payroll-related costs for employees who are directly associated with internal-use computer software projects. Expenditures for software purchases and software developed or obtained for internal-use are capitalized and amortized on a straight-line basis over the estimated product life, which is generally three years. Costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred. Revenue recognition Revenues are recognized when control of the promised goods or services is transferred to clients in an amount that reflects the consideration the Company is entitled to for those goods or services. The Company derives its revenue from contracts predominantly from recurring and non-recurring service fees. The majority of its agreements are generally cancellable by the client on 30 days’ notice. Recurring fees are derived from payroll, workforce management, and HR-related cloud-based computing services. The majority of the Company’s recurring fees are satisfied over time as the services are provided during each client’s payroll period, and the timing of revenue recognition for these fees is consistent with the timing of invoicing as they occur simultaneously upon the client payroll processing period or by month. The performance obligations related to payroll services are delivered based upon the payroll frequency of the client with the fee charged and collected based on a per-employee-per-month or per-employee-per-payroll basis. The performance obligations related to workforce management and HR-related services are generally satisfied each month with the fee charged and collected based on a per-employee-per-month basis. For subscription-based fees, which can include payroll, workforce management, and HR-related services, the Company recognizes the applicable recurring fees each month with the fee charged and collected based on a per-employee-per-month basis. Non-recurring service fees consist mainly of nonrefundable implementation fees. The implementation activities involve setting the client up and loading data into the Company’s cloud-based modules. The Company has determined that the nonrefundable upfront fees provide certain clients with a material right to renew the contract beyond the normal 30-day contractual period without payment of an additional upfront implementation fee. Implementation fees are deferred and recognized as revenue over the period to which the material right exists, which is the period the client is expected to benefit from not having to pay an additional nonrefundable implementation fee upon renewal of the service. Sales taxes collected from clients and remitted to governmental authorities where applicable are accounted for on a net basis and therefore are excluded from revenues in the consolidated statements of operations. Interest on funds held for clients is earned primarily on funds that are collected from clients before due dates for payroll tax administration services and for employee payment services and invested until remittance to the applicable tax or regulatory agencies or client employees. The interest earned on these funds is included in total revenue within the consolidated statements of operations because the collecting, holding, and remitting of these funds are components of providing these services. Cost of revenues Cost of revenues includes costs relating to the provision of ongoing customer support and implementation activities, payroll tax filing, distribution of printed checks and other materials providing the Company’s payroll and other HCM solutions. These costs primarily consist of expenses relating to associates who service customers, including employee-related costs, as well as third-party processing fees, delivery costs, hosting costs, and bank fees associated with client fund transfers. Sales and marketing Sales and marketing expenses consist of costs associated with the Company’s direct sales and marketing staff, including employee-related costs, marketing, advertising and promotion expenses, and other related costs. Advertising and promotion costs are expensed as incurred. Advertising and promotion expense totaled approximately $29,960, $22,130, and $17,964 for the fiscal years ended June 30, 2023, 2022 and 2021, respectively. The Company defers certain commission costs that meet the capitalization criteria. The Company utilizes the portfolio approach based on the period in which the commissions are incurred to account for the cost of obtaining a contract. Capitalized costs to obtain a contract are amortized over the expected period of benefit, which is generally six years based on the Company’s average client life, derived from analyzing client attrition rates using historical data as well as other qualitative factors, including rate of technological changes. The expected period of benefit approximates the average client life primarily because the Company does not incur any additional costs to obtain contracts upon renewal. General and administrative General and administrative expenses consist primarily of employee-related costs, including employee-related costs for the Company’s administrative, finance, accounting, legal, enterprise technology and human resources departments. Additional expenses include consulting and professional fees, occupancy costs, insurance, and other corporate expenses. Research and development Research and development expenses consist primarily of employee-related expenses for the Company’s software development and product management staff. Additional expenses include costs related to the development, maintenance, quality assurance and testing of new technologies, and ongoing refinement of the Company’s existing solutions. Research and development expenses, other than internal-use software costs qualifying for capitalization, including costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred. The Company capitalizes a portion of its development costs related to internal-use software, which are amortized over a period of three years into cost of revenues. The timing of the Company’s capitalized development projects may affect the amount of development costs expensed in any given period. The table below sets forth the amounts of capitalized and expensed research and development costs for the fiscal years ended June 30, 2023, 2022 and 2021: Fiscal Years Ended June 30, (in thousands) 2023 2022 2021 Capitalized software $ 39,981 $ 29,831 $ 21,228 Research and development expenses $ 54,263 $ 43,140 $ 36,020 Interest expense Interest expense consists primarily of interest payments and accruals relating to outstanding borrowings as well as accretion expense associated with the Naming Rights liability. Other (expense) income Stock-based compensation The Company recognizes all employee and director stock-based compensation as a cost in the consolidated financial statements. Equity-classified awards are measured at the grant date fair value of the award and expense is recognized, net of actual forfeitures, on a straight-line basis over the requisite service period for the award. For periods prior to the IPO, the Company estimated grant date fair value using a Monte Carlo simulation model. As the Company's equity was not publicly traded, there was no history of market prices for the Company's equity. Thus, estimating grant date fair value required the Company to make assumptions, including the value of the Company's equity, expected volatility, expected term and the expected risk-free rate of return. For periods subsequent to the IPO, the Company establishes grant date fair value of RSUs based on the fair value of the Company's underlying common stock. The Company estimates the grant date fair value of stock options, including common stock purchased as a part of the Company's Employee Stock Purchase Plan ("ESPP"), using the Black-Scholes option pricing model, which requires management to make assumptions with respect to the fair value of the Company's award on the grant date, including the expected term of the award, the expected volatility of the Company's stock calculated based on a period of time generally commensurate with the expected term of the award, the expected risk-free rate of return, and expected dividend yields of the Company's stock. See Note 14 to our Consolidated Financial Statements - “Equity Compensation Plans” for additional information on the Company’s stock-based compensation plans. Income taxes The Company accrues income taxes payable or refundable and recognizes deferred tax assets and liabilities based on differences between the book and tax basis of assets and liabilities. The Company measures deferred tax assets and liabilities using enacted rates in effect for the years in which the differences are expected to reverse and recognizes the effect of a change in enacted rates in the period of enactment. The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations. When uncertain tax positions exist, the Company recognizes the benefit of tax positions to the extent that the benefit will be more likely than not be realized. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position, as well as consideration of the available facts and circumstances. Interest associated with uncertain tax positions are recognized as a component of income tax expense. Loss per share Basic loss per share is computed by dividing net loss attributable to Paycor HCM, Inc. by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed by dividing net loss attributable to Paycor HCM, Inc. by the weighted average number of common shares outstanding during the period and the impact of securities that would have a dilutive effect, if any. See Note 15 to our Consolidated Financial Statements - “Net Loss Per Share” for further discussion. Segments Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company manages its business as a single operating segment at the consolidated level. Recently adopted accounting standards The Company adopted Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASC 842”), as subsequently amended, on July 1, 2022, through the modified retrospective method applied to those contracts that were not completed as of that date. ASC 842 requires entities to recognize lease assets and lease liabilities and disclose key information about leasing arrangements for certain leases. Results for reporting periods beginning after July 1, 2022 are presented under ASC 842, while prior period amounts have not been adjusted and continue to be reported in accordance with the Company’s historical accounting treatment. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company to carry forward the historical lease classification. Adoption of the new standard resulted in recording additional lease assets and liabilities of $17,457 and $24,626, respectively, as of July 1, 2022. The adoption of the standard did not materially impact our consolidated statements of operations or cash flows. See Note 10 to our Consolidated Financial Statements - “Leases” for additional information. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses” (Topic 326). This update established a new approach to estimate credit losses on certain types of financial instruments. The update required financial assets measured at amortized cost to be presented at the net amount expected to be collected. The amended standard also updated the impairment model for available-for-sale debt securities, requiring entities to determine whether all or a portion of the unrealized loss on any such securities is a credit loss. The Company adopted the standard on July 1, 2022, and the adoption did not have a material impact on the Company’s consolidated financial statements.

REVENUE

REVENUE	12 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE: The following table disaggregates revenue from contracts by recurring fees and implementation services and other, which the Company believes depicts the nature, amount and timing of its revenue: Fiscal Year Ended June 30, 2023 2022 2021 Recurring fees $ 506,131 $ 414,677 $ 337,012 Implementation services and other 12,743 12,355 13,944 Recurring and other revenue $ 518,874 $ 427,032 $ 350,956 Deferred revenue The Company recognizes deferred revenue for nonrefundable upfront fees as well as for subscription services related to certain ancillary products invoiced prior to the satisfaction of the performance obligation. The nonrefundable upfront fees related to implementation services are typically included on the client’s first invoice. Implementation fees are deferred and recognized as revenue over an estimated 24-month period to which the material right exists, which is the period the client is expected to benefit from not having to pay an additional nonrefundable implementation fee upon renewal of the service. The following table summarizes the changes in deferred revenue related to the nonrefundable upfront fees and recurring subscription services: Fiscal Year Ended June 30, 2023 2022 Balance, beginning of period $ 17,046 $ 16,047 Deferred revenue acquired 1,049 — Deferral of revenue 20,556 20,552 Revenue recognized (19,883) (19,468) Impact of foreign exchange (71) (85) Balance, end of period $ 18,697 $ 17,046 Deferred revenue is recorded within deferred revenue and other long-term liabilities on the consolidated balance sheets. The Company will recognize deferred revenue of $13,083 in fiscal year 2024, $5,364 in fiscal year 2025, and $250 in fiscal year 2026. Deferred contract costs As of and for the Fiscal Year Ended June 30, 2023 Beginning Balance Capitalization of Costs Amortization Ending Balance Costs to obtain a contract $ 72,342 $ 41,325 $ (20,350) $ 93,317 Costs to fulfill a contract 91,132 58,746 (26,090) 123,788 Total $ 163,474 $ 100,071 $ (46,440) $ 217,105 As of and for the Fiscal Year Ended June 30, 2022 Beginning Balance Capitalization of Costs Amortization Ending Balance Costs to obtain a contract $ 52,926 $ 33,569 $ (14,153) $ 72,342 Costs to fulfill a contract 62,457 45,993 (17,318) 91,132 Total $ 115,383 $ 79,562 $ (31,471) $ 163,474

BUSINESS COMBINATION AND ASSET

BUSINESS COMBINATION AND ASSET ACQUISITION	12 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATION AND ASSET ACQUISITION	BUSINESS COMBINATION AND ASSET ACQUISITION: Acquisition of Verb, Inc. On May 2, 2023, the Company acquired 100% of the equity interests of Verb, Inc., a modern behavioral science-based microlearning solution to develop frontline leaders and their teams (the “Verb Acquisition”), for an initial cash purchase price of $6,000, plus up to a maximum of $2,000 in additional cash payments based on the achievement of an established earnout. The acquisition was funded with cash on hand. The acquisition was accounted for as a business combination. The preliminary purchase price was allocated to the assets acquired and liabilities assumed based on the estimated fair value of the total consideration transferred at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, none of which is deductible for tax purposes. Goodwill consists primarily of the synergistic benefits and growth opportunities. The factors contributing to the recognition of goodwill were based on strategic benefits that are expected to be realized from the Verb Acquisition. The benefits include acquiring a software technology tailored to small and medium-sized businesses that can be integrated into the current suite of the Company’s products. The preliminary purchase price for the Verb Acquisition has been allocated to individual assets acquired and liabilities assumed as follows: May 2, 2023 Fair value of total consideration $ 5,763 Cash acquired (294) Net purchase price $ 5,469 Assets acquired: Accounts receivable $ 144 Other current assets 119 Property and equipment 22 Technology intangible assets 2,680 Other non-current assets 64 Total identifiable assets acquired 3,029 Liabilities assumed: Accounts payable (66) Accrued expenses (131) Deferred revenue (749) Total identifiable liabilities assumed (946) Goodwill 3,386 Fair value of total consideration transferred $ 5,469 The technology intangible assets acquired have a weighted average useful life of 3 years. The fair value of the contingent consideration was measured at the acquisition date based on management’s estimate of future payments and recorded as a liability within other long-term liabilities on the consolidated balance sheets. The Company incurred transaction costs of $368 related to the Verb Acquisition for the fiscal year ended June 30, 2023. These costs were expensed as incurred in general and administrative expenses within the accompanying consolidated statements of operations. Acquisition of Talenya Ltd. On October 27, 2022, the Company acquired 100% of the equity interests of Talenya Ltd., an Israeli-based provider of an artificial intelligence-driven solution for talent sourcing and recruiting employees (the “Talenya Acquisition”), for an initial cash purchase price of $20,000, plus up to a maximum of $10,000 in additional cash payments based on the achievement of established earnouts over a two-year period. The acquisition was funded with cash on hand. The acquisition was accounted for as a business combination. The preliminary purchase price was allocated to the assets acquired and liabilities assumed based on the estimated fair value of the total consideration transferred at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, none of which is deductible for tax purposes. Goodwill consists primarily of the synergistic benefits and growth opportunities. The factors contributing to the recognition of goodwill were based on strategic benefits that are expected to be realized from the Talenya Acquisition. The benefits include acquiring a software technology tailored to small and medium-sized businesses that can be integrated into the current suite of the Company’s products. The preliminary purchase price for the Talenya Acquisition has been allocated to individual assets acquired and liabilities assumed as follows: October 27, 2022 Fair value of total consideration $ 23,240 Cash acquired (172) Net purchase price $ 23,068 Assets acquired: Accounts receivable $ 217 Other current assets 34 Property and equipment 13 Technology intangible assets 6,760 Other non-current assets 2,222 Total identifiable assets acquired 9,246 Liabilities assumed: Accounts payable (211) Accrued expenses (294) Deferred revenue (300) Total identifiable liabilities assumed (805) Goodwill 14,627 Fair value of total consideration transferred $ 23,068 The technology intangible assets acquired have a weighted average useful life of 7 years. The fair value of the contingent consideration was measured at the acquisition date based on management’s estimate of future payments and recorded as a liability within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheets. The Company incurred transaction costs of $1,174 related to the Talenya Acquisition for the fiscal year ended June 30, 2023. These costs were expensed as incurred in general and administrative expenses within the accompanying consolidated statements of operations. Asset Acquisitions The Company periodically acquires customer relationships from other HCM providers. The asset purchase agreements usually provide for an initial payment as well as contingent payments to the seller based on revenue generated by the acquired clients over a defined timeframe. During the fiscal years ended June 30, 2023, 2022, and 2021, the Company initially paid approximately $13,725, $9,300, and $—, respectively, to purchase these customer relationships. Contingent payments made for the fiscal years ended June 30, 2023, 2022, and 2021 were $4,259, $6,688, and $—, respectively.
BUSINESS COMBINATION AND ASSET ACQUISITION	BUSINESS COMBINATION AND ASSET ACQUISITION: Acquisition of Verb, Inc. On May 2, 2023, the Company acquired 100% of the equity interests of Verb, Inc., a modern behavioral science-based microlearning solution to develop frontline leaders and their teams (the “Verb Acquisition”), for an initial cash purchase price of $6,000, plus up to a maximum of $2,000 in additional cash payments based on the achievement of an established earnout. The acquisition was funded with cash on hand. The acquisition was accounted for as a business combination. The preliminary purchase price was allocated to the assets acquired and liabilities assumed based on the estimated fair value of the total consideration transferred at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, none of which is deductible for tax purposes. Goodwill consists primarily of the synergistic benefits and growth opportunities. The factors contributing to the recognition of goodwill were based on strategic benefits that are expected to be realized from the Verb Acquisition. The benefits include acquiring a software technology tailored to small and medium-sized businesses that can be integrated into the current suite of the Company’s products. The preliminary purchase price for the Verb Acquisition has been allocated to individual assets acquired and liabilities assumed as follows: May 2, 2023 Fair value of total consideration $ 5,763 Cash acquired (294) Net purchase price $ 5,469 Assets acquired: Accounts receivable $ 144 Other current assets 119 Property and equipment 22 Technology intangible assets 2,680 Other non-current assets 64 Total identifiable assets acquired 3,029 Liabilities assumed: Accounts payable (66) Accrued expenses (131) Deferred revenue (749) Total identifiable liabilities assumed (946) Goodwill 3,386 Fair value of total consideration transferred $ 5,469 The technology intangible assets acquired have a weighted average useful life of 3 years. The fair value of the contingent consideration was measured at the acquisition date based on management’s estimate of future payments and recorded as a liability within other long-term liabilities on the consolidated balance sheets. The Company incurred transaction costs of $368 related to the Verb Acquisition for the fiscal year ended June 30, 2023. These costs were expensed as incurred in general and administrative expenses within the accompanying consolidated statements of operations. Acquisition of Talenya Ltd. On October 27, 2022, the Company acquired 100% of the equity interests of Talenya Ltd., an Israeli-based provider of an artificial intelligence-driven solution for talent sourcing and recruiting employees (the “Talenya Acquisition”), for an initial cash purchase price of $20,000, plus up to a maximum of $10,000 in additional cash payments based on the achievement of established earnouts over a two-year period. The acquisition was funded with cash on hand. The acquisition was accounted for as a business combination. The preliminary purchase price was allocated to the assets acquired and liabilities assumed based on the estimated fair value of the total consideration transferred at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, none of which is deductible for tax purposes. Goodwill consists primarily of the synergistic benefits and growth opportunities. The factors contributing to the recognition of goodwill were based on strategic benefits that are expected to be realized from the Talenya Acquisition. The benefits include acquiring a software technology tailored to small and medium-sized businesses that can be integrated into the current suite of the Company’s products. The preliminary purchase price for the Talenya Acquisition has been allocated to individual assets acquired and liabilities assumed as follows: October 27, 2022 Fair value of total consideration $ 23,240 Cash acquired (172) Net purchase price $ 23,068 Assets acquired: Accounts receivable $ 217 Other current assets 34 Property and equipment 13 Technology intangible assets 6,760 Other non-current assets 2,222 Total identifiable assets acquired 9,246 Liabilities assumed: Accounts payable (211) Accrued expenses (294) Deferred revenue (300) Total identifiable liabilities assumed (805) Goodwill 14,627 Fair value of total consideration transferred $ 23,068 The technology intangible assets acquired have a weighted average useful life of 7 years. The fair value of the contingent consideration was measured at the acquisition date based on management’s estimate of future payments and recorded as a liability within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheets. The Company incurred transaction costs of $1,174 related to the Talenya Acquisition for the fiscal year ended June 30, 2023. These costs were expensed as incurred in general and administrative expenses within the accompanying consolidated statements of operations. Asset Acquisitions The Company periodically acquires customer relationships from other HCM providers. The asset purchase agreements usually provide for an initial payment as well as contingent payments to the seller based on revenue generated by the acquired clients over a defined timeframe. During the fiscal years ended June 30, 2023, 2022, and 2021, the Company initially paid approximately $13,725, $9,300, and $—, respectively, to purchase these customer relationships. Contingent payments made for the fiscal years ended June 30, 2023, 2022, and 2021 were $4,259, $6,688, and $—, respectively.

FUNDS HELD FOR CLIENTS

FUNDS HELD FOR CLIENTS	12 Months Ended
	Jun. 30, 2023
Funds Held For Clients [Abstract]
FUNDS HELD FOR CLIENTS	FUNDS HELD FOR CLIENTS: Funds held for clients are as follows: June 30, 2023 Amortized Gross Gross Fair Demand deposit accounts and other cash equivalents $ 783,813 $ — $ — $ 783,813 U.S. Treasury and direct obligations of U.S. government agencies 72,173 — (776) 71,397 Corporate bonds 172,570 91 (3,049) 169,612 Commercial paper 2,977 — (3) 2,974 Other securities 21,776 2 (418) 21,360 $ 1,053,309 $ 93 $ (4,246) $ 1,049,156 June 30, 2022 Amortized Gross Gross Fair Demand deposit accounts and other cash equivalents $ 1,549,882 $ — $ — $ 1,549,882 U.S. Treasury and direct obligations of U.S. government agencies 29,367 — (290) 29,077 Corporate bonds 112,753 4 (1,894) 110,863 Commercial paper 6,642 2 (3) 6,641 Other securities 19,817 2 (366) 19,453 $ 1,718,461 $ 8 $ (2,553) $ 1,715,916 Other securities are primarily comprised of collateralized and other mortgage obligations, municipal obligations, and certificates of deposit. The Company is exposed to interest rate risk as rate volatility will cause fluctuations in the earnings potential of future investments. The Company does not utilize derivative financial instruments to manage interest rate risk. The Company reviews its investments on an ongoing basis to determine if any allowance for credit loss is warranted due to changes in credit risk or other potential valuation concerns. The Company has no material individual securities that have been in a continuous unrealized loss position greater than twelve months. The Company believes unrealized losses, to the extent they exist, generally result from changes in interest rates rather than credit risk, and therefore does not believe the related investments need to be assessed to determine whether an allowance for the credit loss is warranted. Additionally, the Company believes it will recover its cost basis in the securities with unrealized losses and has the ability to hold the securities until they recover in value and had no intent to sell them at June 30, 2023. Expected maturities as of June 30, 2023 for client fund assets are as follows: Due within fiscal year 2024 $ 878,487 Due within fiscal year 2025 64,571 Due within fiscal year 2026 72,024 Due within fiscal year 2027 16,890 Due within fiscal year 2028 17,184 Total $ 1,049,156

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET: A summary of the Company’s property and equipment, net is as follows: June 30, June 30, Land $ 3,680 $ 3,680 Land improvements 910 910 Building and improvements 22,845 22,845 Computer, equipment and software 18,702 14,951 Furniture and fixtures 2,250 2,246 Office equipment 2,880 2,538 Leasehold improvements 4,114 1,430 55,381 48,600 Accumulated depreciation and amortization (20,808) (16,925) Property and equipment, net $ 34,573 $ 31,675

CAPITALIZED SOFTWARE, NET

CAPITALIZED SOFTWARE, NET	12 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
CAPITALIZED SOFTWARE, NET	CAPITALIZED SOFTWARE, NET: A summary of the Company’s capitalized software, net is as follows: June 30, June 30, Capitalized software $ 125,707 $ 83,682 Accumulated amortization (71,724) (43,680) Capitalized software, net $ 53,983 $ 40,002 The following is a schedule of future amortization expense as of June 30, 2023: 2024 $ 28,151 2025 18,894 2026 6,938 $ 53,983

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS: Changes in the carrying amount of goodwill are presented below: Balance at July 1, 2021 $ 750,802 Foreign currency translation (647) Balance at June 30, 2022 $ 750,155 Talenya Acquisition 14,627 Verb Acquisition 3,386 Foreign currency translation (430) Balance at June 30, 2023 $ 767,738 On August 7, 2022, the Company entered into a 16-year partnership with the Cincinnati Bengals of the National Football League that grants the Company the exclusive Naming Rights to Paycor Stadium, home to the Cincinnati Bengals since 2000. Contractual payments under the naming rights agreement (the “Naming Rights Agreement”) began in August 2022 and end in 2038. The Naming Rights have been recorded as an intangible asset within the consolidated balance sheet in an amount equal to the present value of the future contractual cash flows with an offsetting liability for payments to be made in the future. The intangible asset reflects the Naming Rights to the Bengals stadium including co-branding and shared promotion, along with the right for the Company to place its logo on and around the stadium. The discount between the offsetting liability and overall payment obligation is amortized to interest expense over the term of the agreement using the effective interest method. The intangible asset is being amortized over the life of the agreement on a straight-line basis through sales and marketing expense. The liability is included in accrued expenses and other current liabilities and other long-term liabilities within the consolidated balance sheet. Components of intangible assets were as follows: June 30, June 30, Cost: Technology $ 151,855 $ 142,165 Customer relationships 462,452 443,187 Trade name 105,670 105,672 Naming rights 66,698 — Total cost $ 786,675 $ 691,024 Accumulated amortization: Technology $ (141,309) $ (135,982) Customer relationships (348,123) (266,129) Trade name (32,889) (25,844) Naming rights (3,882) — Total accumulated amortization $ (526,203) $ (427,955) Intangible assets, net $ 260,472 $ 263,069 The following is a schedule of future amortization expense as of June 30, 2023: 2024 $ 96,529 2025 42,729 2026 16,232 2027 12,244 2028 12,244 Thereafter 80,494 $ 260,472

DEBT AGREEMENTS AND LETTERS OF

DEBT AGREEMENTS AND LETTERS OF CREDIT	12 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
DEBT AGREEMENTS AND LETTERS OF CREDIT	DEBT AGREEMENTS AND LETTERS OF CREDIT: Credit Agreement Paycor, Inc. is party to a credit agreement (as amended, the “Credit Agreement”) with PNC Bank, National Association (“PNC”), Fifth Third, National Association, and other lenders, providing a $200,000 senior secured revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility includes an “accordion feature” that allows the Company, under certain circumstances, to increase the size of the Revolving Credit Facility by an additional principal amount of up to $200,000, with a resulting maximum principal amount of $400,000, subject to the participating lenders electing to increase their commitments or new lenders being added to the Credit Agreement. The Revolving Credit Facility will mature on June 11, 2026. Borrowings under the Revolving Credit Facility, if any, have variable interest rates. The variable interest rates equal, at the Company’s option, either, (i) in the case of ABR borrowings, the highest of (a) the PNC prime rate, (b) the Federal Funds Rate plus 0.50%, and (c) the adjusted London interbank offered rate (“LIBOR”) with a maturity of one month, plus 1.00% (“ABR”) or (ii) in the case of Eurocurrency borrowings, the LIBOR or Benchmark Replacement Secured Overnight Financing Rate (“SOFR”) based rate, plus, in each case, an applicable margin of (A) prior to the IPO, (i) in the case of ABR borrowings, 0.95% per annum and (ii) in the case of Eurocurrency borrowings, 1.95% per annum or (B) following the IPO, (i) in the case of ABR borrowings, 0.375% per annum or (ii) in the case of Eurocurrency borrowings, 1.375% per annum, in each case, with step downs based on achievement of certain total leverage ratios. The Credit Agreement requires the Company to pay a quarterly unused fee of between 0.10% per annum and 0.175% per annum based on its total leverage ratio (as defined in the Credit Agreement). Borrowings under the Revolving Credit Facility are guaranteed by a subsidiary of the Company, Pride Guarantor, Inc. and certain other subsidiaries. These borrowings are secured by liens and security interests on substantially all of the assets of existing and future material domestic subsidiaries of Pride Guarantor, Inc. The Credit Agreement contains financial covenants, which are reviewed for compliance on a quarterly basis, including a total leverage ratio financial covenant of 3.50 to 1.00 and an interest coverage ratio financial covenant of 3.00 to 1.00. As of June 30, 2023, the Company was in compliance with all of the covenants under the Credit Agreement. As a result of the Company entering into, and subsequently amending, the Credit Agreement, the Company expensed approximately $35 and $2,195 for the fiscal years ended June 30, 2022 and 2021, respectively, primarily consisting of write-offs of previously deferred unamortized deferred financing fees and certain third-party costs. Amounts expensed are recorded as other (expense) income - other on the consolidated statement of operations. Additionally, the Company capitalized approximately $100 and $342 of deferred financing fees for the fiscal years ended June 30, 2022 and 2021, respectively, in connection with entering into, and subsequently amending, the Credit Agreement, which are included in other long-term assets within the consolidated balance sheets.

LEASES

LEASES	12 Months Ended
	Jun. 30, 2023
Leases [Abstract]
LEASES	LEASES: The Company determines if an arrangement contains a lease at inception. The Company recognizes right-of-use (“ROU”) assets and liabilities associated with leases based on the present value of the future minimum lease payments over the lease term at the later of the commencement date of the lease or July 1, 2022. The Company uses its incremental borrowing rate at the recognition date in determining the present value of future payments for leases that do not have a readily determinable implicit rate. Lease terms reflect options to extend or terminate the lease when it is reasonably certain that the option will be exercised. ROU assets and obligations for short-term leases (leases with an initial term of 12 months or less) are not recognized in the consolidated balance sheet. The Company has agreements that contain lease and non-lease components. Generally, the Company accounts for the lease and non-lease components in the contract as a single lease component. The Company has various lease agreements for office space and other leases which are classified as operating leases and for equipment which are classified as finance leases. Lease terms may include options to extend or terminate the lease, which are factored into the recognition of ROU assets and lease liabilities when it is reasonably certain that the Company will exercise that option. Lease costs for operating leases, including short-term leases, are recognized over the lease term on a straight-line basis. The table below presents the Company’s leased assets and related lease liabilities: Leases Classification June 30, Assets Operating leases Operating lease right-of-use assets $ 16,834 Finance lease assets Property and equipment, net 530 Liabilities Current: Operating Accrued expenses and other current liabilities $ 4,615 Finance Accrued expenses and other current liabilities 298 Non-current: Operating Long-term operating leases 16,061 Finance Other long-term liabilities 331 The table below presents the costs associated with the leased assets: Leases Classification Fiscal Year Ended Operating lease cost: Short-term General and administrative $ 15 Long-term Cost of revenues, Sales and marketing and General and administrative 5,202 Finance lease cost: Amortization of leased assets Cost of revenues, Sales and marketing, General and administrative and Research and development 260 Interest on lease liabilities Interest expense 39 Total lease cost $ 5,516 Sublease income General and administrative $ 857 The future minimum lease payments required under all leases and the present value of net minimum lease payments as of June 30, 2023 are as follows: Maturity of Lease Liabilities Operating Finance 2024 $ 5,267 $ 323 2025 4,427 296 2026 4,151 45 2027 3,804 — 2028 1,183 — Thereafter 6,035 — Total minimum lease payments 24,867 664 Less: Amount representing interest (4,191) (35) Present value of minimum lease payments $ 20,676 $ 629 The table below summarizes the weighted average remaining lease term and weighted average discount rate used by lease type: Lease Term and Discount Rate June 30, Weighted average remaining lease term: Operating leases 6.6 years Finance leases 2.1 years Weighted average discount rate: Operating leases 4.1 % Finance leases 5.0 % The table below summarizes the impact to cash flows related to leases: Fiscal Year Ended June 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 10,261 Operating cash flows used for finance leases 39 Financing cash flows used for finance leases 284 Leased assets obtained in exchange for new finance lease liabilities — Leased assets obtained in exchange for new operating lease liabilities 6,359 Exit or Disposal Activities In the third quarter of fiscal year 2022, as a result and in consideration of the changing use of office space by the workforce amid the impacts of the novel coronavirus pandemic (“COVID-19 pandemic”), the Company evaluated its existing real estate lease portfolio. This evaluation included the establishment of a formal plan to exit certain leased office spaces that are no longer utilized, which was finalized in the third quarter of fiscal year 2022. The Company recognized a loss on exit of certain leases of $9,055, which was included in general and administrative expenses in the accompanying statement of operations for the fiscal year ended June 30, 2022. The loss included the present value of the remaining lease obligation on the cease-use date, net of estimated sublease income, as well as the write-off of $4,910 of the carrying value of ceased-use furniture, fixtures, equipment and leasehold improvements offset by $3,250 of deferred rent. A summary of the exit cost obligation and related activity for the fiscal year ended June 30, 2022 is as follows: Exit cost obligation at cease-use date in fiscal 2022 $ 7,395 Accretion during fiscal year 2022 57 Net payments made during fiscal year 2022 (1,065) Exit cost obligation at cease-use date in fiscal 2022 $ 6,387 The total exit cost obligation at June 30, 2022 was $6,387, which is included within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheet, respectively, as follows: Accrued expenses and other current liabilities $ 3,037 Other long-term liabilities 3,350 Total exit cost obligation $ 6,387 The total exit cost obligation at June 30, 2022 of
LEASES	LEASES: The Company determines if an arrangement contains a lease at inception. The Company recognizes right-of-use (“ROU”) assets and liabilities associated with leases based on the present value of the future minimum lease payments over the lease term at the later of the commencement date of the lease or July 1, 2022. The Company uses its incremental borrowing rate at the recognition date in determining the present value of future payments for leases that do not have a readily determinable implicit rate. Lease terms reflect options to extend or terminate the lease when it is reasonably certain that the option will be exercised. ROU assets and obligations for short-term leases (leases with an initial term of 12 months or less) are not recognized in the consolidated balance sheet. The Company has agreements that contain lease and non-lease components. Generally, the Company accounts for the lease and non-lease components in the contract as a single lease component. The Company has various lease agreements for office space and other leases which are classified as operating leases and for equipment which are classified as finance leases. Lease terms may include options to extend or terminate the lease, which are factored into the recognition of ROU assets and lease liabilities when it is reasonably certain that the Company will exercise that option. Lease costs for operating leases, including short-term leases, are recognized over the lease term on a straight-line basis. The table below presents the Company’s leased assets and related lease liabilities: Leases Classification June 30, Assets Operating leases Operating lease right-of-use assets $ 16,834 Finance lease assets Property and equipment, net 530 Liabilities Current: Operating Accrued expenses and other current liabilities $ 4,615 Finance Accrued expenses and other current liabilities 298 Non-current: Operating Long-term operating leases 16,061 Finance Other long-term liabilities 331 The table below presents the costs associated with the leased assets: Leases Classification Fiscal Year Ended Operating lease cost: Short-term General and administrative $ 15 Long-term Cost of revenues, Sales and marketing and General and administrative 5,202 Finance lease cost: Amortization of leased assets Cost of revenues, Sales and marketing, General and administrative and Research and development 260 Interest on lease liabilities Interest expense 39 Total lease cost $ 5,516 Sublease income General and administrative $ 857 The future minimum lease payments required under all leases and the present value of net minimum lease payments as of June 30, 2023 are as follows: Maturity of Lease Liabilities Operating Finance 2024 $ 5,267 $ 323 2025 4,427 296 2026 4,151 45 2027 3,804 — 2028 1,183 — Thereafter 6,035 — Total minimum lease payments 24,867 664 Less: Amount representing interest (4,191) (35) Present value of minimum lease payments $ 20,676 $ 629 The table below summarizes the weighted average remaining lease term and weighted average discount rate used by lease type: Lease Term and Discount Rate June 30, Weighted average remaining lease term: Operating leases 6.6 years Finance leases 2.1 years Weighted average discount rate: Operating leases 4.1 % Finance leases 5.0 % The table below summarizes the impact to cash flows related to leases: Fiscal Year Ended June 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 10,261 Operating cash flows used for finance leases 39 Financing cash flows used for finance leases 284 Leased assets obtained in exchange for new finance lease liabilities — Leased assets obtained in exchange for new operating lease liabilities 6,359 Exit or Disposal Activities In the third quarter of fiscal year 2022, as a result and in consideration of the changing use of office space by the workforce amid the impacts of the novel coronavirus pandemic (“COVID-19 pandemic”), the Company evaluated its existing real estate lease portfolio. This evaluation included the establishment of a formal plan to exit certain leased office spaces that are no longer utilized, which was finalized in the third quarter of fiscal year 2022. The Company recognized a loss on exit of certain leases of $9,055, which was included in general and administrative expenses in the accompanying statement of operations for the fiscal year ended June 30, 2022. The loss included the present value of the remaining lease obligation on the cease-use date, net of estimated sublease income, as well as the write-off of $4,910 of the carrying value of ceased-use furniture, fixtures, equipment and leasehold improvements offset by $3,250 of deferred rent. A summary of the exit cost obligation and related activity for the fiscal year ended June 30, 2022 is as follows: Exit cost obligation at cease-use date in fiscal 2022 $ 7,395 Accretion during fiscal year 2022 57 Net payments made during fiscal year 2022 (1,065) Exit cost obligation at cease-use date in fiscal 2022 $ 6,387 The total exit cost obligation at June 30, 2022 was $6,387, which is included within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheet, respectively, as follows: Accrued expenses and other current liabilities $ 3,037 Other long-term liabilities 3,350 Total exit cost obligation $ 6,387 The total exit cost obligation at June 30, 2022 of

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS: U.S. GAAP defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy that prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities the Company can access. Level 2 inputs are inputs (other than quoted prices included within Level 1) that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability and rely on management’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. The fair value of certain assets, such as nonfinancial assets, primarily long-lived assets, goodwill, intangible assets and certain other assets, are recognized or disclosed in connection with impairment evaluations. All non-recurring valuations use significant unobservable inputs and therefore fall under Level 3 of the fair value hierarchy. The carrying amounts of financial instruments including cash and cash equivalents, accounts receivable, and accounts payable approximated fair value as of June 30, 2023 and June 30, 2022, because of the relatively short maturity of these instruments. The following table presents information on the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and June 30, 2022: June 30, 2023 Level 1 Level 2 Level 3 Total Funds held for clients—cash and cash equivalents: Demand deposit accounts and other cash equivalents $ 783,813 $ — $ — $ 783,813 Funds held for clients—available-for-sale: U.S. Treasury and direct obligations of U.S. government agencies — 71,397 — 71,397 Corporate bonds — 169,612 — 169,612 Commercial paper — 2,974 — 2,974 Other securities — 21,360 — 21,360 $ 783,813 $ 265,343 $ — $ 1,049,156 June 30, 2022 Level 1 Level 2 Level 3 Total Funds held for clients—cash and cash equivalents: Demand deposit accounts and other cash equivalents $ 1,549,882 $ — $ — $ 1,549,882 Funds held for clients—available-for-sale: U.S. Treasury and direct obligations of U.S. government agencies — 29,077 — 29,077 Corporate bonds — 110,863 — 110,863 Commercial paper — 6,641 — 6,641 Other securities — 19,453 — 19,453 $ 1,549,882 $ 166,034 $ — $ 1,715,916 Available-for-sale securities included in Level 1 are valued using closing prices for identical instruments that are traded on active exchanges. Available-for-sale securities included in Level 2 are valued by reference to quoted prices of similar assets or liabilities in active markets, adjusted for any terms specific to that asset or liability.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS	12 Months Ended
	Jun. 30, 2023
Equity [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS: In connection with the Apax Acquisition, a subsidiary of the Company issued 200,000 shares of Series A Redeemable Preferred Stock (“Redeemable Preferred Stock”) to certain institutional investors, including the Apax Funds, a related party, and received proceeds of approximately $194,745, net of $5,255 in issuance costs. Dividends associated with the Redeemable Preferred Stock began accruing daily at the issuance date and were payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year. From the issuance date to the second anniversary of the issuance date, the Company had the option to pay the accrued dividends in cash on the applicable dividend payment date or to have such dividends accrue and be added to the then prevailing liquidation preference. Additionally, from the day after the second anniversary of the issuance date through the third anniversary of the issuance date, the Company was required pay at least 50% of the accrued dividends for the applicable dividend payment period in cash. Further, from the day after the third anniversary of the issuance date, the Company was required to pay 100% of the accrued dividends for the applicable dividend payment period in cash. There was a noncompliance penalty if the Company did not meet certain requirements resulting in the prevailing dividend rate automatically increasing by 2% per year and increasing by 1% each six months thereafter until all of the issued and outstanding shares of Redeemable Preferred Stock was redeemed or the event of noncompliance ceases. The dividends accrued based on a prevailing dividend rate, which was 3-month LIBOR plus a margin and adjusted accordingly. At any point in time, 3-month LIBOR could not be less than 1%. The dividend rate was 3-month LIBOR plus 8.875% from the day after the issuance date to the third anniversary of the issuance date. From the day after the third anniversary of the issuance date until there are no shares of Redeemable Preferred Stock outstanding, the dividend rate was 3-month LIBOR plus 8.375%. In the event that from the day after the second anniversary of the issuance date through the third anniversary of the issuance date the Company elected to pay 100% of the accrued dividend for the applicable dividend payment in cash, the prevailing dividend rate would have been 3-month LIBOR plus 8.375%. The Redeemable Preferred Stock was redeemable by the Company at any point in time, although payment of a premium was required under certain circumstances. Additionally, the Company could, at its option, redeem for cash any or all of the then outstanding Redeemable Preferred Stock, in whole at any time or in part from time to time, on or after May 2, 2020, at (i) a redemption price per share equal to 102.0% for the period of May 2, 2020 – November 1, 2020; 101.0% for the period November 2, 2020 – November 1, 2021; and 100.0% for the period November 2, 2021 and thereafter, plus (ii) the amount of all accrued dividends for the then current and all prior dividend payment periods. The holders of the Redeemable Preferred Stock had the ability to redeem the stock upon the occurrence of certain events such as a change in control, an IPO, on or after the sixth anniversary of the issue date, or a trigger event, etc. often involving a premium. The Company analyzed the embedded call and put options and concluded they are closely associated with the debt host and therefore do not require bifurcation. Outside of the events mentioned, there is not a mandatory redemption date for the Redeemable Preferred Stock and as a result, the Company concluded that the sixth anniversary of the issuance date was the most probable redemption date prior to the redemption discussed below. The Company fully redeemed the Series A Redeemable Preferred Stock using a portion of the cash received in its IPO. The redemption price per share was equal to 101% of the liquidation preference, plus the amount of all accrued dividends for the then current and all prior dividend payment periods, or $260,044. As of June 30, 2022 and 2023 , there were no longer any holders of the Company’s Series A Redeemable Preferred Stock and all of the Company’s subsidiaries are wholly-owned .

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Jun. 30, 2023
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK: Effective following the IPO, the Company amended and restated its certificate of incorporation to effectuate the IPO Stock Split, which authorized the Company to issue 500,000,000 shares of common stock with a par value of $0.001 per share. The Company also authorized 50,000,000 shares of preferred stock with a par value of $0.001 per share. The holders of the common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. Subject to preferences that may be applicable to any outstanding preferred stock, holders of common stock are entitled to receive ratably such dividends as may be declared from time-to-time by the Board of Directors out of funds legally available for that purpose. In the event of liquidation, dissolution or winding up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding. As of June 30, 2023 and 2022, there were 176,535,236 and 174,909,539 shares of common stock outstanding, respectively, and no preferred stock outstanding. The Board of Directors is authorized, subject to any limitations prescribed by law, without further vote or action by the stockholders, to issue from time to time shares of preferred stock in one or more series. Each such series of preferred stock will have such number of shares, designations, preferences, voting powers, qualifications, and special or relative rights or privileges as determined by the Board of Directors, which may include, among others, dividend rights, voting rights, redemption and sinking fund provisions, liquidation preferences, conversion rights and preemptive rights. On December 6, 2022, a secondary offering took place in which certain selling shareholders, including the Apax Funds, sold 6,000,000 shares of the Company’s common stock at a public offering price of $28.60 per share. The Company did not receive any proceeds from this sale. On September 9, 2022, a secondary offering took place in which certain selling shareholders, including the Apax Funds, sold 5,000,000 shares of the Company’s common stock at a public offering price of $27.35 per share. The Company did not receive any proceeds from this sale. On October 19, 2021, a secondary offering took place in which certain selling shareholders, including the Apax Funds, sold 12,000,000 shares of the Company’s common stock at a public offering price of $32.00 per share. In addition, the selling shareholders granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of the Company’s common stock at the same per share prices, which was exercised in full on October 26, 2021. The Company did not receive any proceeds from this sale. On December 29, 2020, the Company completed a private placement of 5,143 shares of Series A Preferred Stock with certain institutional investors, which generated proceeds of approximately $180,005. Each share of Series A Preferred Stock had an initial liquidation preference of $35,000, subject to adjustment. On that same date, subsequent to the Company’s Series A Preferred Stock issuance, the Company used the proceeds from the Series A Preferred Stock issuance and an intercompany promissory note of $64,989 with Pride Aggregator L.P. to repurchase 10,620,260 shares of its common stock at a price of $23.07 per share for approximately $245,000. On January 20, 2021, the Company completed a follow-on private placement of 2,572 shares of Series A Preferred Stock with certain institutional investors, which generated proceeds of approximately $90,020. The Company incurred approximately $7,253 of expenses associated with both the December 2020 and January 2021 private placements, which were netted against the $270,025 of proceeds received. The Series A Preferred Stock automatically converted into 11,705,039 shares of the Company’s common stock upon the closing of the Company’s IPO in July 2021, adjusted for the 1,517.18 for 1 IPO Stock Split.

EQUITY COMPENSATION PLANS

EQUITY COMPENSATION PLANS	12 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
EQUITY COMPENSATION PLANS	EQUITY COMPENSATION PLANS: All stock-based awards to employees are recognized as compensation costs in the consolidated financial statements based on fair value measured as of the date of grant. These costs are recognized as an expense in the consolidated statements of operations over the requisite service period and increase additional paid-in capital. The Company recognized stock-based compensation costs and costs relating to liability awards for the fiscal years ended June 30, 2023, 2022, and 2021 of $78,225, $71,376, and $3,983 respectively. Related income tax benefits recognized were $8,708, $4,352 and $43 for the fiscal years ended June 30, 2023, 2022, and 2021. Liability incentive awards Prior to the Apax Acquisition, the Company had issued stock-based compensation awards to employees and outside directors under a plan that provided for the granting of stock options, stock appreciation rights, restricted stock, restricted share units, incentive stock options and other stock-based awards to attract and retain directors, consultants and employees. As part of the Apax Acquisition, vested awards were settled after the closing date at fair value. Unvested awards were cancelled and replaced with cash-based liability awards. Under the terms of the new awards, 50% of the unvested awards were accelerated to vest as of the Apax Acquisition and were paid after the closing date. The remaining 50% of unvested awards are earned and paid to holders according to the vesting dates of the replacement awards. During the fiscal years ended June 30, 2023, 2022, and 2021, $—, $—, and $11,605 was paid, respectively. The Company accounted for the cancellation and replacement of the unvested stock-based compensation awards as a modification, as the classification of the awards was changed from equity to a liability. This modification required an assessment of the fair value of the replacement awards based upon the settlement value. The settlement value of the unvested awards was allocated between the Apax Acquisition purchase price and future compensation expense based upon the pre-acquisition service as a percentage of the greater of the total service period or the original service period of the acquiree’s replaced award. Amounts allocated for future compensation are recognized as compensation costs over the remaining requisite service period and are recorded to general and administrative expense on the consolidated statement of operations. At June 30, 2023, 2022 and 2021, the Company maintained no liability for these awards, and there is no unamortized compensation expense as of June 30, 2023. The 2019 Plans Subsequent to the Apax Acquisition, the Company established three stock-based compensation plans (the “2019 Plans”) which provided for grants of incentive units to persons who are associates, officers or directors of the Company or any of its subsidiaries. The 2019 Plans included two cash Long Term Incentive Plans (“LTIPs”) and the Pride Aggregator, L.P. Management Equity Plan (“MEP”). Long Term Incentive Plan Units converted to Restricted Stock Units The Company has granted LTIP Units under its Pride Aggregator, L.P. Top Talent Incentive Plan and Sales Top Talent Incentive Plan (“LTIP Participants”). The LTIP Units are phantom awards providing for, at the Company’s discretion, a cash or stock payment (“LTIP Payment”) to participants on certain determination dates, if an IPO occurs and if the LTIP Participant remains employed by the Company on such date. An IPO transaction results in a determination date, for which each LTIP Participant becomes entitled to an LTIP Payment with respect to 20% of the LTIP Participant’s LTIP Units as of the IPO date and 20% on each of four subsequent determination dates six twelve eighteen In connection with the Company’s IPO, the LTIP Units converted to 1,761,578 RSUs, of which 20% of the aggregate dollar value vested upon conversion and was recognized as compensation expense. The remaining aggregate dollar value is being recognized as compensation expense over the requisite two-year service period relating to the LTIP Units. Management Equity Plan Units Under the terms of the Company’s MEP, one-half of the MEP incentive units vest based on the holder’s service time. Vesting for the second half of the MEP incentive units is established based on the Company’s performance relative to the Apax Funds’ original invested amount, with the performance calculations defined in the MEP triggered by the Company’s IPO (implied performance condition). The MEP incentive units are subject to a floor amount established at the grant date, which acts as a participation threshold and permits holders of the award to participate in distributions only to the extent the distribution amount for the units exceed the floor amount. The Company estimated the fair value of the MEP incentive units using the Monte Carlo simulation method. The MEP time-based incentive units vested 25% on the first anniversary after the vesting commencement date and thereafter vest in twelve equal installments on each subsequent quarterly anniversary of the vesting commencement date, with 100% vesting of the MEP time-based incentive units occurring on the fourth anniversary of the vesting commencement date. The MEP time-based incentive units are accounted for as equity awards and the compensation expense calculated based upon the fair market value of the MEP time-based incentive units at the grant date is recognized as the MEP time-based incentive units vest. As a result of the Company’s IPO, and due to an election by the Apax Funds, the MEP performance-based incentive units converted to time-based incentive units (“Modified MEP Incentive Units”), with 25% vesting upon successive six month anniversary dates for the 24 months beginning on the date of the IPO. The conversion was treated as a modification for accounting purposes, and accordingly, the Company estimated fair value as of the modification date. The Modified MEP Incentive Units are accounted for as equity awards and the compensation expense calculated based upon the fair value of the Modified MEP Incentive Units at the modification date is recognized as the Modified MEP Incentive Units vest. The Company estimated the fair value of the Modified MEP Incentive Units based upon the IPO Price adjusted for a floor amount established at the grant date and other liquidation preferences in accordance with the terms of the MEP. Key inputs and assumptions used to estimate the fair value of the MEP time-based incentive units included the exercise price, the option term, the risk-free interest rate over the option’s expected term, and the expected volatility. The Company’s expected stock price volatility assumption was determined based upon the historical volatility of publicly traded companies similar in nature to the Company. The risk-free interest rate is based on the market yield for a U.S. Treasury security over the expected life. The expected life of the MEP incentive units was an estimated time to a liquidity event. Estimates of fair value are not intended to predict actual future events or the value realized by persons who receive option awards. The assumptions used in the Monte Carlo simulation method are set forth in the following table. Time-Based Incentive Units Expected volatility range of stock 60.0%–65.0% Expected life of option, range in years 0.67–0.75 Risk-free interest range rate 0.09%–0.12% Expected dividend yield on stock 0% The following table presents the MEP incentive unit activity: Time-Based Incentive Units Modified MEP Incentive Units In thousands, except unit and per unit data Number of Units Weighted Average Floor Price Weighted Average Fair Value Number of Units Weighted Average Floor Price Weighted Average Fair Value Outstanding at June 30, 2022 37,056 $ 563 $ 443 34,735 $ 589 $ 1,423 Granted — — — — — — Forfeited (119) 1,181 314 (471) 274 1,737 Outstanding at June 30, 2023 36,937 $ 561 $ 443 34,264 $ 593 $ 1,419 As of June 30, 2023, there was $877 of unrecognized compensation expense for the unvested time-based incentive units that will be recognized over a weighted average period of 0.9 years. At June 30, 2023, 2022, and 2021, the number of vested time-based incentive units were 32,571, 25,310, and 15,487, respectively. The weighted average grant date fair value of time-based incentive units that vested during the fiscal years ended June 30, 2023, 2022, and 2021, was $386, $417, and $445, respectively. As of June 30, 2023, the unrecognized compensation expense related to the unvested Modified MEP Incentive Units was $1,465 that will be recognized over a weighted average period of 0.1 years. At June 30, 2023, 2022, and 2021, the number of vested Modified MEP Incentive Units were 25,998, 9,009, and —, respectively. The weighted average grant date fair value of the Modified MEP Incentive Units vested during the fiscal years ended June 30, 2023, 2022, and 2021 was $1,410, $1,428, and $—, respectively. 2021 Omnibus Incentive Plan On July 20, 2021, the Company adopted the 2021 Omnibus Incentive Plan (the “2021 Plan”). Under the 2021 Plan, employees, consultants and directors of the Company and its affiliates performing services for the Company, including the Company’s executive officers, are eligible to receive awards. The 2021 Plan provides for grants of stock options, stock appreciation rights, restricted stock, restricted stock units, bonus stock, dividend equivalents, other stock-based awards, substitute awards, annual incentive awards and performance awards intended to align the interests of participants with those of the Company’s shareholders. Stock Options In connection with the Company’s IPO, the Company granted awards under the 2021 Plan to certain executives consisting of an aggregate of 1,135,144 options to purchase shares of its common stock. Additionally, options are generally granted in October in connection with the Company’s annual grant program. All stock options are non-qualified stock options and expire on the tenth anniversary of the grant date. The following table summarizes option activity for the fiscal year ended June 30, 2023: In thousands, except unit and per unit data Options Outstanding Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Outstanding at June 30, 2022 1,112,779 $ 23.18 $ 9.45 9.07 $ 3,265 Granted 938,717 29.56 14.27 9.26 — Exercised (15,000) 23.00 9.36 — — Forfeited and cancelled — — — — — Outstanding at June 30, 2023 2,036,496 $ 26.12 $ 11.68 8.63 $ 719 Exercisable as of June 30, 2023 689,249 $ 23.14 $ 9.43 8.07 $ 455 The total intrinsic value of options exercised during the fiscal year ended June 30, 2023, 2022, and 2021 was $136, $—, and $—, respectively. Total unrecognized compensation cost related to the unvested stock options is $13,857, which is expected to be recognized over a weighted average period of 1.9 years. The weighted average grant date fair value was estimated by the Company using the Black-Scholes option pricing model with the assumptions below: June 30, 2023 June 30, 2022 Number of options granted 938,717 1,159,520 Weighted average exercise price per option $29.56 $23.00 - $35.16 Expected volatility range of stock 45.0% 42.5% Expected life of option (in years) 5.85 5.85 Risk-free interest rate 4.02% 0.81% - 2.41% Expected dividend yield on stock 0% 0% Fair value per option $14.27 $9.36 - $14.51 The expected option life represents the period of time the stock options are expected to be outstanding and is based on the “simplified method” allowed under SEC guidance. The Company used the “simplified method” due to the lack of sufficient historical exercise data to provide a reasonable basis upon which to otherwise estimate the expected life of the stock options. The expected volatility was based on an implied volatility calculation for the Company that closely approximated the average historical and implied volatility of the Company’s peer group since the Company had either limited or no publicly traded stock history as of the grant date. The Company does not intend to pay cash dividends in the foreseeable future. Consequently, the Company used an expected dividend yield of zero. The risk-free interest rate was based on the U.S. Treasury yield curve at the time of the grant. Restricted Stock Units The following table summarizes information related to RSUs granted by the Company. These include grants of LTIP Units that were converted to RSUs as described above, as well as grants made in connection with the Company’s IPO and annual grant program. RSUs that were granted as a result of the conversion of the LTIP Units vested over a two-year period, whereas RSUs that were granted at, and subsequent to the time of, the Company’s IPO generally have a three-year vesting period. In thousands, except unit and per unit data Number of Units Weighted Average Grant Price Outstanding, unvested at June 30, 2022 2,405,484 $ 28.78 Granted 1,790,430 29.01 Vested (1,320,128) 28.56 Forfeited (216,666) 28.72 Outstanding, unvested grants at June 30, 2023 2,659,120 $ 29.05 As of June 30, 2023, total unrecognized compensation expense related to the RSUs is $53,131, which is expected to be recognized over a weighted average period of 1.9 years. The weighted-average grant date fair value of restricted stock units granted during the fiscal years ended June 30, 2023, 2022 and 2021 was $29.01, $29.97 and $—, respectively. The total grant date fair value of RSUs vested during the fiscal years ended June 30, 2023, 2022 and 2021 was $37,700, $18,971 and $—, respectively. Employee Stock Purchase Plan On July 20, 2021, the Company adopted the 2021 Employee Stock Purchase Plan (“ESPP”). The ESPP provides eligible employees with a means of acquiring equity in the Company at a discounted price using their own accumulated payroll deductions. Under the terms of the ESPP, employees can elect to have amounts of their annual compensation withheld, up to a maximum set by the Board of Directors, to purchase shares of Company common stock for a purchase price equal to 85% of the lower of the fair market value per share of Company common stock on (i) the offering date or (ii) the respective purchase date. The ESPP grants participating employees the right to acquire Company common stock in increments of 1% to 10% of eligible pay, with a maximum contribution of $25 of eligible pay, subject to applicable annual Internal Revenue Service limitations. The first offering period of the Company’s ESPP commenced on September 1, 2021 and was four months in duration. Subsequent offering periods are January 1 through June 30 and July 1 through December 31 of a given year.

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE: Basic net loss per share is calculated by dividing net loss attributable to Paycor HCM , Inc. by the weighted average shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss attributable to Paycor HCM , Inc., adjusted as necessary for the impact of potentially dilutive securities, by the weighted average shares outstanding during the period and the impact of securities that would have a dilutive effect. Potentially dilutive securities during the fiscal years ended June 30, 2023, 2022, and 2021 included RSUs, stock options, Series A Preferred Stock and ESPP purchase rights. Due to the net loss for the fiscal years ended June 30, 2023, 2022, and 2021, any potentially dilutive securities were excluded from the denominator in calculating diluted net loss per share because including them would have had an anti-dilutive effect. Additionally, the Company also excluded stock-based compensation awards representing membership interest units in Pride Aggregator, L.P. for the fiscal years ended June 30, 2023, June 30, 2022, and 2021. Basic and diluted net loss per share was the same for each period presented, as the inclusion of all potential common shares outstanding would have been anti-dilutive. The following table sets forth the computation of basic and diluted net loss per share: Fiscal Year Ended June 30, (in thousands, except per share data) 2023 2022 2021 Net loss attributable to Paycor HCM , Inc. $ (93,215) $ (119,638) $ (96,920) Weighted average outstanding shares: Basic and diluted 176,039,651 172,636,523 146,364,225 Basic and diluted net loss per share $ (0.53) $ (0.69) $ (0.66)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: The Company is subject to various claims, litigation, and regulatory compliance matters in the normal course of business. When a loss is considered probable and reasonably estimable, the Company records a liability in the amount of its best estimate for the ultimate loss. The resolution of these claims, litigation and regulatory compliance matters, individually or in the aggregate, is not expected to have a material adverse impact on the Company’s consolidated statements of operations, balance sheets or statements of cash flows. These matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company has contractual obligations to purchase certain goods or services and legally binding contractual arrangements with future payment obligations. These obligations primarily include the Naming Rights Agreement, sponsorship agreements, software licensing, and support services. The Company’s purchase obligations are expected to be approximately $32,958 in 2024, $50,636 in total for 2025 and 2026, $17,715 in total for 2027 and 2028, and $79,137 in total for years thereafter.

PROFIT SHARING PLAN

PROFIT SHARING PLAN	12 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
PROFIT SHARING PLAN	PROFIT SHARING PLAN:The Company has a 401(k)-profit sharing plan for the benefit of its employees, substantially all of whom are eligible to participate after meeting minimum age and service requirements. The Company makes matching contributions to the 401(k) plan on behalf of participating employees up to 65% of the first 6% of eligible wages. For the fiscal years ended June 30, 2023, 2022, and 2021, the Company expensed contributions to the plan of approximately $7,232, $6,073, and $2,505, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES: The Company’s benefit for income tax includes U.S. federal, state, and foreign income taxes. The domestic and foreign components of the Company’s loss before income taxes are as follows: Fiscal Year Ended June 30, 2023 2022 2021 U.S. $ (111,885) $ (140,021) $ (94,223) Foreign 7,222 1,430 929 Loss before income taxes $ (104,663) $ (138,591) $ (93,294) The components of the Company’s income tax benefit for the following periods are as follows: Fiscal Year Ended June 30, 2023 2022 2022 Federal: Current provision $ — $ 1 $ 9 Deferred benefit (14,642) (29,547) (18,570) Federal tax benefit (14,642) (29,546) (18,561) State: Current provision 246 51 140 Deferred provision (benefit) 988 (1,344) (2,655) State tax provision (benefit) 1,234 (1,293) (2,515) Foreign: Current (benefit) provision (25) 314 61 Deferred provision (benefit) 1,985 (49) 203 Foreign tax provision 1,960 265 264 Total tax benefit $ (11,448) $ (30,574) $ (20,812) The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and deferred tax liabilities are as follows: June 30, June 30, Deferred tax assets: Stock-based compensation $ 6,400 $ 4,497 Accrued expenses 2,565 2,360 Net operating loss carryforwards 63,466 56,089 Deferred rent — 1,093 Deferred revenue 4,434 4,023 Unrealized gain 1,033 618 Lease liability 5,105 — Tax credits 12,742 8,457 Other items 1,699 1,279 Total deferred tax assets 97,444 78,416 Valuation allowance (3,750) (744) Net deferred tax assets 93,694 77,672 Deferred tax liabilities: Software development costs (9,970) (9,718) Deferred contract costs (53,982) (39,786) Property and equipment (4,034) (3,432) Operating lease right-of-use assets (4,179) — Other intangibles (38,890) (56,530) Other — (101) Total deferred liabilities (111,055) (109,567) Net deferred tax liabilities $ (17,361) $ (31,895) For tax years beginning on or after January 1, 2022, the Tax Cuts and Jobs Act eliminates the option to currently deduct research and development expenses and requires taxpayers to capitalize and amortize them over five years for research activities performed in the United States and to capitalize and amortize over 15 years for research activities performed outside the United States pursuant to Section 174 of the Code. For the year ended June 30, 2023, the Company has a net increase in the deferred tax asset associated with capitalized research and development expense of $3,452, which is included in the software development costs deferred tax liability. The Company is in a cumulative three-year loss position. The realization of deferred tax assets is dependent upon the generation of future taxable income. After giving appropriate consideration to the sources of taxable income through the scheduled reversal of deferred tax liabilities, the Company concluded that valuation allowances were required on a portion of its net operating losses (“NOLs”). The valuation allowance on NOLs of $3,750, relates primarily to acquired NOLs whose future utilization is limited by Internal Revenue Code Section 382, as well as a small portion of state and local NOLs. The Company has federal NOL carryforwards as of June 30, 2023 and 2022 of approximately $266,165 and $234,806 respectively. The Company has state NOL carryforwards as of June 30, 2023 and 2022 of approximately $148,212 and $211,795, respectively. The Company has foreign NOL carryforwards as of June 30, 2023 and 2022 of approximately $2,962 and $—, respectively. As of June 30, 2023, the federal NOLs not subject to expiration total $207,921 with the remainder of $58,244 beginning to expire in 2034. The state NOL carryforwards generally expire from 2023 to 2043, except for some states for which NOLs do not expire. The foreign NOL carryforwards are not subject to expiration. The Company also has gross federal research and development tax credit carryforwards as of June 30, 2023 and 2022 of approximately $12,251 and $7,982, respectively, which begin expiring in 2033. The Company has gross state research and development tax credit carryforwards as of June 30, 2023 and 2022 of approximately $1,118 and $982, respectively, which begin expiring in 2033. On June 30, 2023, the Company’s liabilities for unrecognized tax benefits, which would impact the Company’s effective tax rate if recognized, are presented below. The Company will include applicable penalties and interest when the benefit is recognized. On June 30, 2023, the unrecognized tax benefits related to uncertain tax positions for state research and development tax credits. The Company does not expect material adjustments to the total amount of uncertain tax positions within the next 12 months, but the outcome of tax matters is uncertain and unforeseen results can occur. The Company continues to follow its policy of recognizing interest and penalties accrued on tax positions as a component of income tax benefit on the consolidated statements of operations and comprehensive loss. The amount of accrued interest and penalties associated with the Company’s tax positions is immaterial to the consolidated balance sheets. The amount of interest and penalties recognized for the year ended June 30, 2023 and 2022 was immaterial to the Company’s consolidated statements of operations and comprehensive loss. June 30, June 30, Unrecognized tax benefits at the beginning of the year $ 381 $ — Additions for tax positions — 97 Additions for tax positions of prior periods 88 284 Unrecognized tax benefits at the end of the year $ 469 $ 381 The Company files income tax returns with the United States federal government and various state jurisdictions. Certain tax years remain open for federal and state tax reporting jurisdictions in which the Company does business due to NOL carryforwards and tax credits utilized from such years or utilized in a period remaining open for audits under normal statute of limitations relating to income tax liabilities. The Company, including its domestic subsidiaries, files a consolidated federal income tax return. For years before fiscal year ended June 30, 2019, the Company is no longer subject to U.S. federal examination. The Internal Revenue Service (“IRS”) has the ability to review years prior to fiscal year 2019 to the extent the Company utilized tax attributes carried forward from those prior years. The statute of limitations on state filings is generally three to four years. A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate for the following periods is presented below: Fiscal Year Ended June 30, 2023 2022 2021 Federal statutory rate 21.0 % 21.0 % 21.0 % Research tax credits 2.7 % 3.6 % — % State income taxes, net of federal tax benefit (0.9 %) 1.7 % 2.7 % Foreign rate differential (2.0 %) — % — % Stock-based compensation (8.7 %) (4.6 %) (0.9 %) Transaction costs (0.2 %) 2.2 % — % Other permanent differences (0.7 %) (1.4 %) (0.5 %) Valuation allowance (0.3 %) (0.4 %) — % Effective income tax rate 10.9 % 22.1 % 22.3 %

CONDENSED FINANCIAL INFORMATION

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)	12 Months Ended
	Jun. 30, 2023
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)	CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY): Paycor HCM, Inc. and Subsidiaries Parent Company Only Condensed Balance Sheets (in thousands) June 30, June 30, Assets Cash and cash equivalents $ 5,155 $ 5,000 Investment in subsidiary 1,268,529 1,279,731 Total assets $ 1,273,684 $ 1,284,731 Liabilities and Stockholders’ Equity Total liabilities $ — $ — Total stockholders’ equity 1,273,684 1,284,731 Total liabilities and stockholders’ equity $ 1,273,684 $ 1,284,731 Paycor HCM, Inc. and Subsidiaries Parent Company Only Condensed Statements of Operations and Comprehensive Loss (in thousands) Fiscal Year Ended June 30, 2023 2022 2021 Other Income $ 155 $ — $ — Equity in net loss of subsidiary $ (93,370) $ (119,638) $ (96,920) Net loss attributable to Paycor HCM, Inc. $ (93,215) $ (119,638) $ (96,920) Other comprehensive (loss) income, net of tax: Subsidiaries’ other comprehensive (loss) income $ (1,337) $ (2,980) $ 382 Total other comprehensive (loss) income (1,337) (2,980) 382 Comprehensive loss attributable to Paycor HCM, Inc. $ (94,552) $ (122,618) $ (96,538) Paycor HCM, Inc. and Subsidiaries Parent Company Only Condensed Statements of Cash Flows (in thousands) Fiscal Year Ended June 30, June 30, June 30, June 30, Operating Activities: Net loss attributable to Paycor HCM, Inc. $ (93,215) $ (119,638) $ (96,920) Adjustments to reconcile net loss to net cash provided by operating activities: Equity in net loss of subsidiaries 93,370 119,638 96,920 Net cash provided by operating activities 155 — — Investing Activities: Net cash provided by investing activities — — — Financing Activities: Proceeds from issuance of preferred stock, net of offering costs — — 262,772 Purchase of treasury stock at cost — — (245,074) Proceeds from the issuance of common stock sold in IPO, net of offering costs and underwriting discount — 454,915 — Contributions to subsidiaries (6,081) (453,102) (17,698) Withholding taxes paid related to net share settlements (2,549) — — Proceeds from exercise of stock options 345 — — Proceeds from employee stock purchase plan 8,285 3,187 — Net cash provided by financing activities — 5,000 — Net increase in cash and cash equivalents 155 5,000 — Cash and cash equivalents-beginning of period 5,000 — — Cash and cash equivalents-end of period $ 5,155 $ 5,000 $ — Description of Business Paycor HCM, which is controlled by Pride Aggregator L.P., is the indirect controlling shareholder of Paycor. Pride Aggregator L.P. is controlled by the Apax Funds. Paycor HCM was incorporated in Delaware in 2018 and became the ultimate parent of Paycor as a result of the Apax Acquisition. Paycor HCM is a holding company and conducts substantially all of its activities through its subsidiaries and has no operations or significant assets or liabilities other than its investment in its subsidiaries, including Paycor. Accordingly, Paycor HCM is dependent upon distributions from Paycor and other subsidiaries to fund its limited, non-significant activities. However, Paycor’s ability to pay dividends or lend to Paycor HCM is limited under the terms of the Credit Agreement. All obligations under the Credit Agreement are guaranteed by Pride Guarantor, Inc. and by Paycor. The Credit Agreement contains covenants limiting Pride Guarantor, Inc.’s and its subsidiaries’, including Paycor, ability to, among other things: incur additional indebtedness or other contingent obligations; create liens; make investments, acquisitions, loans and advances; consolidate, merge, liquidate or dissolve; sell, transfer or otherwise dispose of its assets, including capital stock of its subsidiaries; pay dividends on its equity interests or make other payments in respect of capital stock; engage in transactions with affiliates; make payments in respect of subordinated debt; modify organizational documents in a manner that is materially adverse to the lenders under the applicable Credit Agreement; enter into certain agreements with negative pledge clauses. These covenants are subject to certain customary exceptions and qualifications as described in the Credit Agreement. For a discussion of the Credit Agreement, see Note 9 to our Consolidated Financial Statements - “Debt Agreements and Letters of Credit.” Basis of Presentation These condensed financial statements have been presented on a “parent-only” basis. Under a parent-only presentation, Paycor HCM’s investments in subsidiaries are presented under the equity method of accounting. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. As such, these parent-only statements should be read in conjunction with the accompanying consolidated financial statements for the Company.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Pay vs Performance Disclosure
Net loss attributable to Paycor HCM, Inc.	$ (93,215)	$ (119,638)	$ (96,920)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidationThe accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying financial statements are presented on a consolidated basis for all periods presented. All intercompany transactions and balances have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the recognition of revenue, evaluation of potential impairment of goodwill and intangible assets, and the valuation of stock-based compensation.The Company’s results of operations and financial condition can also be affected by economic, political, legislative, regulatory and legal actions, including but not limited to health epidemics and pandemics and their resulting economic impact. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, and government fiscal policies can have a significant effect on the Company’s results of operations and financial condition. While the Company maintains reserves for anticipated liabilities and carries various levels of insurance, the Company could be affected by civil, criminal, regulatory or administrative actions, claims or proceedings.
Concentrations of risk	Concentrations of risk The Company regularly maintains deposits in banks which may, at times, exceed amounts covered by insurance provided by the U.S. Federal Deposit Insurance Corporation (“FDIC”). The Company mitigates exposure to credit risk by placing cash and cash equivalents with highly rated financial institutions. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on its cash and cash equivalents. No individual client represents more than 1% of total revenues. The majority of all revenues are generated by clients in the United States.
Cash and cash equivalents	Cash and cash equivalents For purposes of the consolidated statements of cash flows, the Company considers all highly liquid debt instruments purchased with an original issue maturity of three months or less and money market funds to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value given the short-term maturity of those instruments.
Funds held for clients	Funds held for clients The Company generally collects substantially all funds from clients in advance of performing payroll and payroll tax filing services on behalf of those clients. Funds held for clients consist of cash and cash equivalents and debt-security investments. Debt-security investments are classified as available-for-sale and are recorded at fair value, and consist of U.S. Treasury Notes, direct obligations of U.S. government agencies such as the Federal Home Loan Bank, the Federal National Mortgage Association and the Federal Farm Credit Bank, high grade corporate bonds, FDIC insured certificates of deposit, and other short-term and long-term investments. At June 30, 2023 and 2022, all the Company’s corporate bond investments are rated investment grade or better. The Company has classified funds held for clients as a current asset since these funds are held solely for the purposes of satisfying client obligations to remit funds relating to payroll and payroll tax filing services. Unrealized gains and losses, net of applicable income taxes, are reported as other comprehensive loss, net of tax in the consolidated statements of comprehensive loss. Realized gains and losses on the sale of securities are determined by specific identification of the security’s cost basis.
Client fund obligations	Client fund obligations Client fund obligations represent the Company’s contractual obligations to remit funds to satisfy clients’ payroll and tax payment obligations and are recorded in the accompanying consolidated balance sheets at the time the Company obtains the funds from clients. The client fund obligations represent the liabilities that will be remitted to the appropriate client employees, taxing authorities and other parties within one year of the balance sheet date.
Accounts receivable, net	Accounts receivable, net Accounts receivable balances are shown on the consolidated balance sheets net of the allowance for doubtful accounts of $7,032 and $3,268 as of June 30, 2023 and June 30, 2022, respectively. The allowance for doubtful accounts considers factors such as historical experience, credit quality, age of the accounts receivable balance and current and forecasted economic conditions that may affect a client’s ability to pay. The Company performs ongoing credit evaluations and generally requires no collateral from clients. Management reviews individual accounts as they become past due to determine collectability. The allowance for doubtful accounts is adjusted periodically based on management’s consideration of past due accounts. Individual accounts are charged against the allowance when all reasonable collection efforts have been exhausted.
Property and equipment, net	Property and equipment, net Property and equipment are recorded at cost. Depreciation and amortization on the property and equipment is computed using the straight-line method over the following estimated useful lives: Computers, equipment and software 3 to 5 years Office equipment 5 to 7 years Furniture and fixtures 7 years Leasehold improvements Over lease term Land improvements 15 years Building 30 years
Goodwill and intangible assets, net	Goodwill and intangible assets, net Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. The Company performs an annual impairment review of goodwill in its fiscal fourth quarter and additional impairment reviews when events and circumstances indicate it is more likely than not that an impairment may have occurred. The Company assesses goodwill for impairment at the consolidated level, which represents its single reporting unit. In evaluating goodwill for impairment, the Company has the option to first perform a qualitative assessment to determine whether further impairment testing is necessary or to perform a quantitative assessment by comparing the fair value of its single reporting unit to its carrying amount, including goodwill. Under the qualitative assessment, an entity is not required to calculate the fair value of a reporting unit unless the entity determines that it is more likely than not that its fair value is less than its carrying amount. Qualitative factors include macroeconomic conditions, industry and market conditions, cost factors, and overall financial performance, among others. Under a quantitative assessment, fair value of the Company’s single reporting unit is estimated using a weighted methodology considering the output from both the income and market approaches. The income approach incorporates the use of a discounted cash flow (“DCF”) analysis. A number of judgments are involved in the application of the DCF model, including projections of business performance, weighted average cost of capital, and terminal values. The market approach is performed using the Guideline Public Companies method which is based on earnings multiple data derived from publicly traded peer group companies.
Capitalized software, net	Capitalized software, net The Company has developed payroll and human resources software to provide its clients with the Company’s services. Capitalized costs include external direct costs of materials and services associated with developing or obtaining internal-use computer software and certain payroll and payroll-related costs for employees who are directly associated with internal-use computer software projects. Expenditures for software purchases and software developed or obtained for internal-use are capitalized and amortized on a straight-line basis over the estimated product life, which is generally three years. Costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred.
Revenue recognition	Revenue recognition Revenues are recognized when control of the promised goods or services is transferred to clients in an amount that reflects the consideration the Company is entitled to for those goods or services. The Company derives its revenue from contracts predominantly from recurring and non-recurring service fees. The majority of its agreements are generally cancellable by the client on 30 days’ notice. Recurring fees are derived from payroll, workforce management, and HR-related cloud-based computing services. The majority of the Company’s recurring fees are satisfied over time as the services are provided during each client’s payroll period, and the timing of revenue recognition for these fees is consistent with the timing of invoicing as they occur simultaneously upon the client payroll processing period or by month. The performance obligations related to payroll services are delivered based upon the payroll frequency of the client with the fee charged and collected based on a per-employee-per-month or per-employee-per-payroll basis. The performance obligations related to workforce management and HR-related services are generally satisfied each month with the fee charged and collected based on a per-employee-per-month basis. For subscription-based fees, which can include payroll, workforce management, and HR-related services, the Company recognizes the applicable recurring fees each month with the fee charged and collected based on a per-employee-per-month basis. Non-recurring service fees consist mainly of nonrefundable implementation fees. The implementation activities involve setting the client up and loading data into the Company’s cloud-based modules. The Company has determined that the nonrefundable upfront fees provide certain clients with a material right to renew the contract beyond the normal 30-day contractual period without payment of an additional upfront implementation fee. Implementation fees are deferred and recognized as revenue over the period to which the material right exists, which is the period the client is expected to benefit from not having to pay an additional nonrefundable implementation fee upon renewal of the service. Sales taxes collected from clients and remitted to governmental authorities where applicable are accounted for on a net basis and therefore are excluded from revenues in the consolidated statements of operations.
Cost of revenues	Cost of revenues Cost of revenues includes costs relating to the provision of ongoing customer support and implementation activities, payroll tax filing, distribution of printed checks and other materials providing the Company’s payroll and other HCM solutions. These costs primarily consist of expenses relating to associates who service customers, including employee-related costs, as well as third-party processing fees, delivery costs, hosting costs, and bank fees associated with client fund transfers.
Sales and marketing	Sales and marketing Sales and marketing expenses consist of costs associated with the Company’s direct sales and marketing staff, including employee-related costs, marketing, advertising and promotion expenses, and other related costs. Advertising and promotion costs are expensed as incurred. Advertising and promotion expense totaled approximately $29,960, $22,130, and $17,964 for the fiscal years ended June 30, 2023, 2022 and 2021, respectively.
General and administrative	General and administrative General and administrative expenses consist primarily of employee-related costs, including employee-related costs for the Company’s administrative, finance, accounting, legal, enterprise technology and human resources departments. Additional expenses include consulting and professional fees, occupancy costs, insurance, and other corporate expenses.
Research and development	Research and development Research and development expenses consist primarily of employee-related expenses for the Company’s software development and product management staff. Additional expenses include costs related to the development, maintenance, quality assurance and testing of new technologies, and ongoing refinement of the Company’s existing solutions. Research and development expenses, other than internal-use software costs qualifying for capitalization, including costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred.
Interest expense	Interest expense Interest expense consists primarily of interest payments and accruals relating to outstanding borrowings as well as accretion expense associated with the Naming Rights liability.
Other (expense) income	Other (expense) income Other (expense) income generally consists of other income and expense items outside of the Company’s normal operations, such as interest income on operating cash, realized gains or losses on the sale of certain positions of funds held for clients, gains or losses on the extinguishment of debt and expenses relating to the Company’s financing arrangements.
Stock-based compensation	Stock-based compensation The Company recognizes all employee and director stock-based compensation as a cost in the consolidated financial statements. Equity-classified awards are measured at the grant date fair value of the award and expense is recognized, net of actual forfeitures, on a straight-line basis over the requisite service period for the award. For periods prior to the IPO, the Company estimated grant date fair value using a Monte Carlo simulation model. As the Company's equity was not publicly traded, there was no history of market prices for the Company's equity. Thus, estimating grant date fair value required the Company to make assumptions, including the value of the Company's equity, expected volatility, expected term and the expected risk-free rate of return. For periods subsequent to the IPO, the Company establishes grant date fair value of RSUs based on the fair value of the Company's underlying common stock. The Company estimates the grant date fair value of stock options, including common stock purchased as a part of the Company's Employee Stock Purchase Plan ("ESPP"), using the Black-Scholes option pricing model, which requires management to make assumptions with respect to the fair value of the Company's award on the grant date, including the expected term of the award, the expected volatility of the Company's stock calculated based on a period of time generally commensurate with the expected term of the award, the expected risk-free rate of return, and expected dividend yields of the Company's stock. See Note 14 to our Consolidated Financial Statements - “Equity Compensation Plans” for additional information on the Company’s stock-based compensation plans.
Income taxes	Income taxes The Company accrues income taxes payable or refundable and recognizes deferred tax assets and liabilities based on differences between the book and tax basis of assets and liabilities. The Company measures deferred tax assets and liabilities using enacted rates in effect for the years in which the differences are expected to reverse and recognizes the effect of a change in enacted rates in the period of enactment. The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations.
Loss per share	Loss per share Basic loss per share is computed by dividing net loss attributable to Paycor HCM, Inc. by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed by dividing net loss attributable to Paycor HCM, Inc. by the weighted average number of common shares outstanding during the period and the impact of securities that would have a dilutive effect, if any. See Note 15 to our Consolidated Financial Statements - “Net Loss Per Share” for further discussion.
Segments	Segments Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company manages its business as a single operating segment at the consolidated level.
Recently adopted accounting standards	Recently adopted accounting standards The Company adopted Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASC 842”), as subsequently amended, on July 1, 2022, through the modified retrospective method applied to those contracts that were not completed as of that date.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Property, Plant and Equipment	Depreciation and amortization on the property and equipment is computed using the straight-line method over the following estimated useful lives: Computers, equipment and software 3 to 5 years Office equipment 5 to 7 years Furniture and fixtures 7 years Leasehold improvements Over lease term Land improvements 15 years Building 30 years A summary of the Company’s property and equipment, net is as follows: June 30, June 30, Land $ 3,680 $ 3,680 Land improvements 910 910 Building and improvements 22,845 22,845 Computer, equipment and software 18,702 14,951 Furniture and fixtures 2,250 2,246 Office equipment 2,880 2,538 Leasehold improvements 4,114 1,430 55,381 48,600 Accumulated depreciation and amortization (20,808) (16,925) Property and equipment, net $ 34,573 $ 31,675
Research and Development	The table below sets forth the amounts of capitalized and expensed research and development costs for the fiscal years ended June 30, 2023, 2022 and 2021: Fiscal Years Ended June 30, (in thousands) 2023 2022 2021 Capitalized software $ 39,981 $ 29,831 $ 21,228 Research and development expenses $ 54,263 $ 43,140 $ 36,020
Accounts Receivable, Allowance for Credit Loss	The following table presents activity in the allowance for doubtful accounts related to accounts receivables: Fiscal Years Ended June 30, (in thousands) 2023 2022 2021 Balance, beginning of period $ 3,268 $ 2,402 $ 1,217 Modified retrospective adoption adjustment 891 — — Write-offs (1,842) (1,219) (606) Bad debt expense 4,715 2,085 1,791 Balance, end of period $ 7,032 $ 3,268 $ 2,402

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	The following table disaggregates revenue from contracts by recurring fees and implementation services and other, which the Company believes depicts the nature, amount and timing of its revenue: Fiscal Year Ended June 30, 2023 2022 2021 Recurring fees $ 506,131 $ 414,677 $ 337,012 Implementation services and other 12,743 12,355 13,944 Recurring and other revenue $ 518,874 $ 427,032 $ 350,956 The following table summarizes the changes in deferred revenue related to the nonrefundable upfront fees and recurring subscription services: Fiscal Year Ended June 30, 2023 2022 Balance, beginning of period $ 17,046 $ 16,047 Deferred revenue acquired 1,049 — Deferral of revenue 20,556 20,552 Revenue recognized (19,883) (19,468) Impact of foreign exchange (71) (85) Balance, end of period $ 18,697 $ 17,046
Schedule of Capitalized Contract Costs	As of and for the Fiscal Year Ended June 30, 2023 Beginning Balance Capitalization of Costs Amortization Ending Balance Costs to obtain a contract $ 72,342 $ 41,325 $ (20,350) $ 93,317 Costs to fulfill a contract 91,132 58,746 (26,090) 123,788 Total $ 163,474 $ 100,071 $ (46,440) $ 217,105 As of and for the Fiscal Year Ended June 30, 2022 Beginning Balance Capitalization of Costs Amortization Ending Balance Costs to obtain a contract $ 52,926 $ 33,569 $ (14,153) $ 72,342 Costs to fulfill a contract 62,457 45,993 (17,318) 91,132 Total $ 115,383 $ 79,562 $ (31,471) $ 163,474

BUSINESS COMBINATION AND ASSE_2

BUSINESS COMBINATION AND ASSET ACQUISITION (Tables)	12 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary purchase price for the Verb Acquisition has been allocated to individual assets acquired and liabilities assumed as follows: May 2, 2023 Fair value of total consideration $ 5,763 Cash acquired (294) Net purchase price $ 5,469 Assets acquired: Accounts receivable $ 144 Other current assets 119 Property and equipment 22 Technology intangible assets 2,680 Other non-current assets 64 Total identifiable assets acquired 3,029 Liabilities assumed: Accounts payable (66) Accrued expenses (131) Deferred revenue (749) Total identifiable liabilities assumed (946) Goodwill 3,386 Fair value of total consideration transferred $ 5,469 October 27, 2022 Fair value of total consideration $ 23,240 Cash acquired (172) Net purchase price $ 23,068 Assets acquired: Accounts receivable $ 217 Other current assets 34 Property and equipment 13 Technology intangible assets 6,760 Other non-current assets 2,222 Total identifiable assets acquired 9,246 Liabilities assumed: Accounts payable (211) Accrued expenses (294) Deferred revenue (300) Total identifiable liabilities assumed (805) Goodwill 14,627 Fair value of total consideration transferred $ 23,068
Schedule of Acquisitions	The preliminary purchase price for the Verb Acquisition has been allocated to individual assets acquired and liabilities assumed as follows: May 2, 2023 Fair value of total consideration $ 5,763 Cash acquired (294) Net purchase price $ 5,469 Assets acquired: Accounts receivable $ 144 Other current assets 119 Property and equipment 22 Technology intangible assets 2,680 Other non-current assets 64 Total identifiable assets acquired 3,029 Liabilities assumed: Accounts payable (66) Accrued expenses (131) Deferred revenue (749) Total identifiable liabilities assumed (946) Goodwill 3,386 Fair value of total consideration transferred $ 5,469 October 27, 2022 Fair value of total consideration $ 23,240 Cash acquired (172) Net purchase price $ 23,068 Assets acquired: Accounts receivable $ 217 Other current assets 34 Property and equipment 13 Technology intangible assets 6,760 Other non-current assets 2,222 Total identifiable assets acquired 9,246 Liabilities assumed: Accounts payable (211) Accrued expenses (294) Deferred revenue (300) Total identifiable liabilities assumed (805) Goodwill 14,627 Fair value of total consideration transferred $ 23,068

FUNDS HELD FOR CLIENTS (Tables)

FUNDS HELD FOR CLIENTS (Tables)	12 Months Ended
	Jun. 30, 2023
Funds Held For Clients [Abstract]
Schedule of Investments	Funds held for clients are as follows: June 30, 2023 Amortized Gross Gross Fair Demand deposit accounts and other cash equivalents $ 783,813 $ — $ — $ 783,813 U.S. Treasury and direct obligations of U.S. government agencies 72,173 — (776) 71,397 Corporate bonds 172,570 91 (3,049) 169,612 Commercial paper 2,977 — (3) 2,974 Other securities 21,776 2 (418) 21,360 $ 1,053,309 $ 93 $ (4,246) $ 1,049,156 June 30, 2022 Amortized Gross Gross Fair Demand deposit accounts and other cash equivalents $ 1,549,882 $ — $ — $ 1,549,882 U.S. Treasury and direct obligations of U.S. government agencies 29,367 — (290) 29,077 Corporate bonds 112,753 4 (1,894) 110,863 Commercial paper 6,642 2 (3) 6,641 Other securities 19,817 2 (366) 19,453 $ 1,718,461 $ 8 $ (2,553) $ 1,715,916
Schedule of Investments Classified by Contractual Maturity Date	Expected maturities as of June 30, 2023 for client fund assets are as follows: Due within fiscal year 2024 $ 878,487 Due within fiscal year 2025 64,571 Due within fiscal year 2026 72,024 Due within fiscal year 2027 16,890 Due within fiscal year 2028 17,184 Total $ 1,049,156

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment at Cost and Accumulated Depreciation	Depreciation and amortization on the property and equipment is computed using the straight-line method over the following estimated useful lives: Computers, equipment and software 3 to 5 years Office equipment 5 to 7 years Furniture and fixtures 7 years Leasehold improvements Over lease term Land improvements 15 years Building 30 years A summary of the Company’s property and equipment, net is as follows: June 30, June 30, Land $ 3,680 $ 3,680 Land improvements 910 910 Building and improvements 22,845 22,845 Computer, equipment and software 18,702 14,951 Furniture and fixtures 2,250 2,246 Office equipment 2,880 2,538 Leasehold improvements 4,114 1,430 55,381 48,600 Accumulated depreciation and amortization (20,808) (16,925) Property and equipment, net $ 34,573 $ 31,675

CAPITALIZED SOFTWARE, NET (Tabl

CAPITALIZED SOFTWARE, NET (Tables)	12 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Components of Capitalized Software	A summary of the Company’s capitalized software, net is as follows: June 30, June 30, Capitalized software $ 125,707 $ 83,682 Accumulated amortization (71,724) (43,680) Capitalized software, net $ 53,983 $ 40,002 Components of intangible assets were as follows: June 30, June 30, Cost: Technology $ 151,855 $ 142,165 Customer relationships 462,452 443,187 Trade name 105,670 105,672 Naming rights 66,698 — Total cost $ 786,675 $ 691,024 Accumulated amortization: Technology $ (141,309) $ (135,982) Customer relationships (348,123) (266,129) Trade name (32,889) (25,844) Naming rights (3,882) — Total accumulated amortization $ (526,203) $ (427,955) Intangible assets, net $ 260,472 $ 263,069
Schedule of Future Amortization Expense	The following is a schedule of future amortization expense as of June 30, 2023: 2024 $ 28,151 2025 18,894 2026 6,938 $ 53,983 The following is a schedule of future amortization expense as of June 30, 2023: 2024 $ 96,529 2025 42,729 2026 16,232 2027 12,244 2028 12,244 Thereafter 80,494 $ 260,472

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	Changes in the carrying amount of goodwill are presented below: Balance at July 1, 2021 $ 750,802 Foreign currency translation (647) Balance at June 30, 2022 $ 750,155 Talenya Acquisition 14,627 Verb Acquisition 3,386 Foreign currency translation (430) Balance at June 30, 2023 $ 767,738
Schedule of Components of Intangible Assets	A summary of the Company’s capitalized software, net is as follows: June 30, June 30, Capitalized software $ 125,707 $ 83,682 Accumulated amortization (71,724) (43,680) Capitalized software, net $ 53,983 $ 40,002 Components of intangible assets were as follows: June 30, June 30, Cost: Technology $ 151,855 $ 142,165 Customer relationships 462,452 443,187 Trade name 105,670 105,672 Naming rights 66,698 — Total cost $ 786,675 $ 691,024 Accumulated amortization: Technology $ (141,309) $ (135,982) Customer relationships (348,123) (266,129) Trade name (32,889) (25,844) Naming rights (3,882) — Total accumulated amortization $ (526,203) $ (427,955) Intangible assets, net $ 260,472 $ 263,069
Schedule of Future Amortization Expense	The following is a schedule of future amortization expense as of June 30, 2023: 2024 $ 28,151 2025 18,894 2026 6,938 $ 53,983 The following is a schedule of future amortization expense as of June 30, 2023: 2024 $ 96,529 2025 42,729 2026 16,232 2027 12,244 2028 12,244 Thereafter 80,494 $ 260,472

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Leased Assets and Liabilities	The table below presents the Company’s leased assets and related lease liabilities: Leases Classification June 30, Assets Operating leases Operating lease right-of-use assets $ 16,834 Finance lease assets Property and equipment, net 530 Liabilities Current: Operating Accrued expenses and other current liabilities $ 4,615 Finance Accrued expenses and other current liabilities 298 Non-current: Operating Long-term operating leases 16,061 Finance Other long-term liabilities 331 Lease Term and Discount Rate June 30, Weighted average remaining lease term: Operating leases 6.6 years Finance leases 2.1 years Weighted average discount rate: Operating leases 4.1 % Finance leases 5.0 %
Schedule of Lease Costs and Cash Flows Impact	The table below presents the costs associated with the leased assets: Leases Classification Fiscal Year Ended Operating lease cost: Short-term General and administrative $ 15 Long-term Cost of revenues, Sales and marketing and General and administrative 5,202 Finance lease cost: Amortization of leased assets Cost of revenues, Sales and marketing, General and administrative and Research and development 260 Interest on lease liabilities Interest expense 39 Total lease cost $ 5,516 Sublease income General and administrative $ 857 The table below summarizes the impact to cash flows related to leases: Fiscal Year Ended June 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 10,261 Operating cash flows used for finance leases 39 Financing cash flows used for finance leases 284 Leased assets obtained in exchange for new finance lease liabilities — Leased assets obtained in exchange for new operating lease liabilities 6,359
Schedule of Maturity of Operating Leases	The future minimum lease payments required under all leases and the present value of net minimum lease payments as of June 30, 2023 are as follows: Maturity of Lease Liabilities Operating Finance 2024 $ 5,267 $ 323 2025 4,427 296 2026 4,151 45 2027 3,804 — 2028 1,183 — Thereafter 6,035 — Total minimum lease payments 24,867 664 Less: Amount representing interest (4,191) (35) Present value of minimum lease payments $ 20,676 $ 629
Schedule of Maturity of Finance Leases	The future minimum lease payments required under all leases and the present value of net minimum lease payments as of June 30, 2023 are as follows: Maturity of Lease Liabilities Operating Finance 2024 $ 5,267 $ 323 2025 4,427 296 2026 4,151 45 2027 3,804 — 2028 1,183 — Thereafter 6,035 — Total minimum lease payments 24,867 664 Less: Amount representing interest (4,191) (35) Present value of minimum lease payments $ 20,676 $ 629
Restructuring and Related Costs	A summary of the exit cost obligation and related activity for the fiscal year ended June 30, 2022 is as follows: Exit cost obligation at cease-use date in fiscal 2022 $ 7,395 Accretion during fiscal year 2022 57 Net payments made during fiscal year 2022 (1,065) Exit cost obligation at cease-use date in fiscal 2022 $ 6,387 The total exit cost obligation at June 30, 2022 was $6,387, which is included within accrued expenses and other current liabilities and other long-term liabilities on the consolidated balance sheet, respectively, as follows: Accrued expenses and other current liabilities $ 3,037 Other long-term liabilities 3,350 Total exit cost obligation $ 6,387

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis	The following table presents information on the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and June 30, 2022: June 30, 2023 Level 1 Level 2 Level 3 Total Funds held for clients—cash and cash equivalents: Demand deposit accounts and other cash equivalents $ 783,813 $ — $ — $ 783,813 Funds held for clients—available-for-sale: U.S. Treasury and direct obligations of U.S. government agencies — 71,397 — 71,397 Corporate bonds — 169,612 — 169,612 Commercial paper — 2,974 — 2,974 Other securities — 21,360 — 21,360 $ 783,813 $ 265,343 $ — $ 1,049,156 June 30, 2022 Level 1 Level 2 Level 3 Total Funds held for clients—cash and cash equivalents: Demand deposit accounts and other cash equivalents $ 1,549,882 $ — $ — $ 1,549,882 Funds held for clients—available-for-sale: U.S. Treasury and direct obligations of U.S. government agencies — 29,077 — 29,077 Corporate bonds — 110,863 — 110,863 Commercial paper — 6,641 — 6,641 Other securities — 19,453 — 19,453 $ 1,549,882 $ 166,034 $ — $ 1,715,916

EQUITY COMPENSATION PLANS (Tabl

EQUITY COMPENSATION PLANS (Tables)	12 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Fair Value Measurement Inputs and Valuation Techniques	The assumptions used in the Monte Carlo simulation method are set forth in the following table. Time-Based Incentive Units Expected volatility range of stock 60.0%–65.0% Expected life of option, range in years 0.67–0.75 Risk-free interest range rate 0.09%–0.12% Expected dividend yield on stock 0% The weighted average grant date fair value was estimated by the Company using the Black-Scholes option pricing model with the assumptions below: June 30, 2023 June 30, 2022 Number of options granted 938,717 1,159,520 Weighted average exercise price per option $29.56 $23.00 - $35.16 Expected volatility range of stock 45.0% 42.5% Expected life of option (in years) 5.85 5.85 Risk-free interest rate 4.02% 0.81% - 2.41% Expected dividend yield on stock 0% 0% Fair value per option $14.27 $9.36 - $14.51
Share-based Payment Arrangement, Activity	The following table presents the MEP incentive unit activity: Time-Based Incentive Units Modified MEP Incentive Units In thousands, except unit and per unit data Number of Units Weighted Average Floor Price Weighted Average Fair Value Number of Units Weighted Average Floor Price Weighted Average Fair Value Outstanding at June 30, 2022 37,056 $ 563 $ 443 34,735 $ 589 $ 1,423 Granted — — — — — — Forfeited (119) 1,181 314 (471) 274 1,737 Outstanding at June 30, 2023 36,937 $ 561 $ 443 34,264 $ 593 $ 1,419
Share-based Payment Arrangement, Option, Activity	The following table summarizes option activity for the fiscal year ended June 30, 2023: In thousands, except unit and per unit data Options Outstanding Weighted Average Exercise Price Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term (In Years) Aggregate Intrinsic Value Outstanding at June 30, 2022 1,112,779 $ 23.18 $ 9.45 9.07 $ 3,265 Granted 938,717 29.56 14.27 9.26 — Exercised (15,000) 23.00 9.36 — — Forfeited and cancelled — — — — — Outstanding at June 30, 2023 2,036,496 $ 26.12 $ 11.68 8.63 $ 719 Exercisable as of June 30, 2023 689,249 $ 23.14 $ 9.43 8.07 $ 455
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	In thousands, except unit and per unit data Number of Units Weighted Average Grant Price Outstanding, unvested at June 30, 2022 2,405,484 $ 28.78 Granted 1,790,430 29.01 Vested (1,320,128) 28.56 Forfeited (216,666) 28.72 Outstanding, unvested grants at June 30, 2023 2,659,120 $ 29.05

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per Share	The following table sets forth the computation of basic and diluted net loss per share: Fiscal Year Ended June 30, (in thousands, except per share data) 2023 2022 2021 Net loss attributable to Paycor HCM , Inc. $ (93,215) $ (119,638) $ (96,920) Weighted average outstanding shares: Basic and diluted 176,039,651 172,636,523 146,364,225 Basic and diluted net loss per share $ (0.53) $ (0.69) $ (0.66)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The domestic and foreign components of the Company’s loss before income taxes are as follows: Fiscal Year Ended June 30, 2023 2022 2021 U.S. $ (111,885) $ (140,021) $ (94,223) Foreign 7,222 1,430 929 Loss before income taxes $ (104,663) $ (138,591) $ (93,294)
Schedule of Components of Income Tax Expense (Benefit)	The components of the Company’s income tax benefit for the following periods are as follows: Fiscal Year Ended June 30, 2023 2022 2022 Federal: Current provision $ — $ 1 $ 9 Deferred benefit (14,642) (29,547) (18,570) Federal tax benefit (14,642) (29,546) (18,561) State: Current provision 246 51 140 Deferred provision (benefit) 988 (1,344) (2,655) State tax provision (benefit) 1,234 (1,293) (2,515) Foreign: Current (benefit) provision (25) 314 61 Deferred provision (benefit) 1,985 (49) 203 Foreign tax provision 1,960 265 264 Total tax benefit $ (11,448) $ (30,574) $ (20,812)
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and deferred tax liabilities are as follows: June 30, June 30, Deferred tax assets: Stock-based compensation $ 6,400 $ 4,497 Accrued expenses 2,565 2,360 Net operating loss carryforwards 63,466 56,089 Deferred rent — 1,093 Deferred revenue 4,434 4,023 Unrealized gain 1,033 618 Lease liability 5,105 — Tax credits 12,742 8,457 Other items 1,699 1,279 Total deferred tax assets 97,444 78,416 Valuation allowance (3,750) (744) Net deferred tax assets 93,694 77,672 Deferred tax liabilities: Software development costs (9,970) (9,718) Deferred contract costs (53,982) (39,786) Property and equipment (4,034) (3,432) Operating lease right-of-use assets (4,179) — Other intangibles (38,890) (56,530) Other — (101) Total deferred liabilities (111,055) (109,567) Net deferred tax liabilities $ (17,361) $ (31,895)
Schedule of Unrecognized Tax Benefits Roll Forward	June 30, June 30, Unrecognized tax benefits at the beginning of the year $ 381 $ — Additions for tax positions — 97 Additions for tax positions of prior periods 88 284 Unrecognized tax benefits at the end of the year $ 469 $ 381
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate for the following periods is presented below: Fiscal Year Ended June 30, 2023 2022 2021 Federal statutory rate 21.0 % 21.0 % 21.0 % Research tax credits 2.7 % 3.6 % — % State income taxes, net of federal tax benefit (0.9 %) 1.7 % 2.7 % Foreign rate differential (2.0 %) — % — % Stock-based compensation (8.7 %) (4.6 %) (0.9 %) Transaction costs (0.2 %) 2.2 % — % Other permanent differences (0.7 %) (1.4 %) (0.5 %) Valuation allowance (0.3 %) (0.4 %) — % Effective income tax rate 10.9 % 22.1 % 22.3 %

CONDENSED FINANCIAL INFORMATI_2

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Jun. 30, 2023
Condensed Financial Information Disclosure [Abstract]
Condensed Balance Sheets	June 30, June 30, Assets Cash and cash equivalents $ 5,155 $ 5,000 Investment in subsidiary 1,268,529 1,279,731 Total assets $ 1,273,684 $ 1,284,731 Liabilities and Stockholders’ Equity Total liabilities $ — $ — Total stockholders’ equity 1,273,684 1,284,731 Total liabilities and stockholders’ equity $ 1,273,684 $ 1,284,731
Condensed Statements of Operations and Comprehensive Loss	Fiscal Year Ended June 30, 2023 2022 2021 Other Income $ 155 $ — $ — Equity in net loss of subsidiary $ (93,370) $ (119,638) $ (96,920) Net loss attributable to Paycor HCM, Inc. $ (93,215) $ (119,638) $ (96,920) Other comprehensive (loss) income, net of tax: Subsidiaries’ other comprehensive (loss) income $ (1,337) $ (2,980) $ 382 Total other comprehensive (loss) income (1,337) (2,980) 382 Comprehensive loss attributable to Paycor HCM, Inc. $ (94,552) $ (122,618) $ (96,538)
Condensed Statement of Cash Flows	Fiscal Year Ended June 30, June 30, June 30, June 30, Operating Activities: Net loss attributable to Paycor HCM, Inc. $ (93,215) $ (119,638) $ (96,920) Adjustments to reconcile net loss to net cash provided by operating activities: Equity in net loss of subsidiaries 93,370 119,638 96,920 Net cash provided by operating activities 155 — — Investing Activities: Net cash provided by investing activities — — — Financing Activities: Proceeds from issuance of preferred stock, net of offering costs — — 262,772 Purchase of treasury stock at cost — — (245,074) Proceeds from the issuance of common stock sold in IPO, net of offering costs and underwriting discount — 454,915 — Contributions to subsidiaries (6,081) (453,102) (17,698) Withholding taxes paid related to net share settlements (2,549) — — Proceeds from exercise of stock options 345 — — Proceeds from employee stock purchase plan 8,285 3,187 — Net cash provided by financing activities — 5,000 — Net increase in cash and cash equivalents 155 5,000 — Cash and cash equivalents-beginning of period 5,000 — — Cash and cash equivalents-end of period $ 5,155 $ 5,000 $ —

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS - Narrative (Details) $ / shares in Units, $ in Thousands							1 Months Ended	2 Months Ended	12 Months Ended
	Dec. 06, 2022 $ / shares shares	Sep. 09, 2022 $ / shares shares	Oct. 19, 2021 $ / shares shares	Jul. 23, 2021 USD ($) $ / shares shares	Jul. 20, 2021	Nov. 02, 2018	Jul. 31, 2021	Nov. 01, 2018 USD ($) shares	Jun. 30, 2023 $ / shares	Jun. 30, 2022 USD ($) $ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | $ / shares									$ 0.001	$ 0.001
Payments of stock issuance costs				$ 30,583
Offering costs										$ 3,827
Redemption of outstanding shares				$ 260,044
Stock split conversion ratio							1,517.18
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Unrecognized compensation expense, weighted average period				2 years	2 years				1 year 10 months 24 days
Award vesting rights, percentage						20%
Time-Based Incentive Units
Subsequent Event [Line Items]
Unrecognized compensation expense, weighted average period									10 months 24 days
Award vesting rights, percentage				25%
Award vesting period				6 months
Apax Acquisition | Redeemable Preferred Stock
Subsequent Event [Line Items]
Payments of stock issuance costs								$ 5,255
Preferred stock, redemption price (in percentage)				1.01%
Issuance of preferred stock, net (in shares) | shares								200,000
IPO
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares) | shares	6,000,000	5,000,000	12,000,000	21,275,000
Common stock, par value (in dollars per share) | $ / shares				$ 0.001
Offering price per share (in dollars per share) | $ / shares	$ 28.60	$ 27.35	$ 32	$ 23
Aggregate net proceeds from stock offering				$ 454,147
Offering costs				$ 4,595
Issuance of preferred stock, net (in shares) | shares				11,705,039
IPO | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Issuance of preferred stock, net (in shares) | shares				1,761,578
IPO | Time-Based Incentive Units
Subsequent Event [Line Items]
Award vesting period				24 months

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Jul. 01, 2022	Jun. 30, 2020
Accounting Policies [Abstract]
Accounts receivable, allowance for credit loss	$ 7,032,000	$ 3,268,000	$ 2,402,000		$ 1,217,000
Impairment of tangible assets	0	4,910,000	0
Impairment of finite-lived intangible assets	$ 0	0	0
Capitalized computer software, amortization period	3 years
Cancellation notice period	30 days
Implementation activities, contractual period	30 days
Capitalized contract cost, amortization period	6 years
Advertising and promotion expense	$ 29,960,000	22,130,000	$ 17,964,000
Operating lease right-of-use assets	16,834,000	$ 0		$ 17,457,000
Operating lease liability	$ 20,676,000			$ 24,626,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts balance, beginning of period	$ 3,268	$ 2,402	$ 1,217
Write-offs	(1,842)	(1,219)	(606)
Bad debt expense	4,715	2,085	1,791
Allowance for doubtful accounts balance, end of period	7,032	3,268	$ 2,402
Cumulative Effect, Period of Adoption, Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts balance, beginning of period	$ 891
Allowance for doubtful accounts balance, end of period		$ 891

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment, Net (Details)	Jun. 30, 2023
Computer, equipment and software | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Computer, equipment and software | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Office equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Office equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	15 years
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	30 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Research and Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Accounting Policies [Abstract]
Capitalized software	$ 39,981	$ 29,831	$ 21,228
Research and development expenses	$ 54,263	$ 43,140	$ 36,020

REVENUE - Contract with Custome

REVENUE - Contract with Customer (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Recurring and other revenue	$ 518,874	$ 427,032	$ 350,956
Recurring and other revenue	Service [Member]	Service [Member]	Service [Member]
Recurring fees
Disaggregation of Revenue [Line Items]
Recurring and other revenue	$ 506,131	$ 414,677	$ 337,012
Implementation services and other
Disaggregation of Revenue [Line Items]
Recurring and other revenue	$ 12,743	$ 12,355	$ 13,944

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Implementation fee recognition period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Implementation services, remaining performance obligation, period	3 months
Revenue, remaining performance obligation, amount	$ 13,083
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Implementation services, remaining performance obligation, period	1 year
Revenue, remaining performance obligation, amount	$ 5,364
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Implementation services, remaining performance obligation, period	1 year
Revenue, remaining performance obligation, amount	$ 250
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Implementation services, remaining performance obligation, period

REVENUE - Deferred Revenue (Det

REVENUE - Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Contract with Customer, Liability Activity [Roll Forward]
Balance, beginning of period	$ 17,046	$ 16,047
Deferred revenue acquired	1,049	0
Deferral of revenue	20,556	20,552
Revenue recognized	(19,883)	(19,468)
Impact of foreign exchange	(71)	(85)
Balance, end of period	$ 18,697	$ 17,046

REVENUE - Deferred Contract Cos

REVENUE - Deferred Contract Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Capitalized Contract Cost, Activity [Roll Forward]
Beginning Balance	$ 163,474	$ 115,383
Capitalization of Costs	100,071	79,562
Amortization	(46,440)	(31,471)	$ (19,501)
Ending Balance	217,105	163,474	115,383
Costs to obtain a contract
Capitalized Contract Cost, Activity [Roll Forward]
Beginning Balance	72,342	52,926
Capitalization of Costs	41,325	33,569
Amortization	(20,350)	(14,153)
Ending Balance	93,317	72,342	52,926
Costs to fulfill a contract
Capitalized Contract Cost, Activity [Roll Forward]
Beginning Balance	91,132	62,457
Capitalization of Costs	58,746	45,993
Amortization	(26,090)	(17,318)
Ending Balance	$ 123,788	$ 91,132	$ 62,457

BUSINESS COMBINATION AND ASSE_3

BUSINESS COMBINATION AND ASSET ACQUISITION - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	May 02, 2023	Oct. 27, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Verb
Business Acquisition [Line Items]
Percentage of business acquired	100%
Cash consideration	$ 6,000
Contingent consideration	$ 2,000
Acquired finite-lived intangible assets, weighted average useful life	3 years
Business acquisition, transaction costs			$ 368
Talenya
Business Acquisition [Line Items]
Percentage of business acquired		100%
Cash consideration		$ 20,000
Contingent consideration		$ 10,000
Acquired finite-lived intangible assets, weighted average useful life		7 years
Business acquisition, transaction costs			$ 1,174
Earnouts period		2 years
HCM Assets Acquisition
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life			3 years
Asset acquisition, consideration transferred			$ 13,725	$ 9,300	$ 0
Asset acquisition, contingent consideration			$ 4,259	$ 6,688	$ 0
Finite-lived intangible assets, remaining amortization period			1 year 4 months 24 days

BUSINESS COMBINATION AND ASSE_4

BUSINESS COMBINATION AND ASSET ACQUISITION - Preliminary Purchase Price (Details) - USD ($) $ in Thousands	May 02, 2023	Oct. 27, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Liabilities assumed:
Goodwill			$ 767,738	$ 750,155	$ 750,802
Verb
Business Acquisition [Line Items]
Fair value of total consideration	$ 5,763
Cash acquired	(294)
Net purchase price	5,469
Assets acquired:
Accounts receivable	144
Other current assets	119
Property and equipment	22
Technology intangible assets	2,680
Other non-current assets	64
Total identifiable assets acquired	3,029
Liabilities assumed:
Accounts payable	(66)
Accrued expenses	(131)
Deferred revenue	(749)
Total identifiable liabilities assumed	(946)
Goodwill	3,386
Fair value of total consideration transferred	$ 5,469
Talenya
Business Acquisition [Line Items]
Fair value of total consideration		$ 23,240
Cash acquired		(172)
Net purchase price		23,068
Assets acquired:
Accounts receivable		217
Other current assets		34
Property and equipment		13
Technology intangible assets		6,760
Other non-current assets		2,222
Total identifiable assets acquired		9,246
Liabilities assumed:
Accounts payable		(211)
Accrued expenses		(294)
Deferred revenue		(300)
Total identifiable liabilities assumed		(805)
Goodwill		14,627
Fair value of total consideration transferred		$ 23,068

FUNDS HELD FOR CLIENTS - Schedu

FUNDS HELD FOR CLIENTS - Schedule of Funds Held for Clients (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Schedule of Investments [Line Items]
Demand deposit accounts and other cash equivalents, Amortized Cost	$ 95,233	$ 133,041	$ 2,634
Funds held for clients, Amortized Cost	1,053,309	1,718,461
Funds held for clients, Gross Unrealized Gains	93	8
Funds held for clients, Gross Unrealized Losses	(4,246)	(2,553)
Funds held for clients	1,049,156	1,715,916
U.S. Treasury and direct obligations of U.S. government agencies
Schedule of Investments [Line Items]
Debt securities, available-for-sale, Amortized Cost	72,173	29,367
Debt securities, available-for-sale, Gross Unrealized Gains	0	0
Debt securities, available-for-sale, Gross Unrealized Losses	(776)	(290)
Debt securities, available-for-sale, Fair Value	71,397	29,077
Corporate bonds
Schedule of Investments [Line Items]
Debt securities, available-for-sale, Amortized Cost	172,570	112,753
Debt securities, available-for-sale, Gross Unrealized Gains	91	4
Debt securities, available-for-sale, Gross Unrealized Losses	(3,049)	(1,894)
Debt securities, available-for-sale, Fair Value	169,612	110,863
Commercial paper
Schedule of Investments [Line Items]
Debt securities, available-for-sale, Amortized Cost	2,977	6,642
Debt securities, available-for-sale, Gross Unrealized Gains	0	2
Debt securities, available-for-sale, Gross Unrealized Losses	(3)	(3)
Debt securities, available-for-sale, Fair Value	2,974	6,641
Other securities
Schedule of Investments [Line Items]
Debt securities, available-for-sale, Amortized Cost	21,776	19,817
Debt securities, available-for-sale, Gross Unrealized Gains	2	2
Debt securities, available-for-sale, Gross Unrealized Losses	(418)	(366)
Debt securities, available-for-sale, Fair Value	21,360	19,453
Demand deposit accounts and other cash equivalents
Schedule of Investments [Line Items]
Demand deposit accounts and other cash equivalents, Amortized Cost	783,813	1,549,882
Demand deposit accounts and other cash equivalents, Gross Unrealized Gains	0	0
Demand deposit accounts and other cash equivalents, Gross Unrealized Losses	0	0
Demand deposit accounts and other cash equivalents, Fair Value	$ 783,813	$ 1,549,882

FUNDS HELD FOR CLIENTS - Narrat

FUNDS HELD FOR CLIENTS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Funds Held For Clients [Abstract]
Proceeds from sales and maturities of investment securities	$ 319,668	$ 166,372	$ 235,768

FUNDS HELD FOR CLIENTS - Sche_2

FUNDS HELD FOR CLIENTS - Schedule of Expected Maturities (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Funds Held For Clients [Abstract]
Due within fiscal year 2024	$ 878,487
Due within fiscal year 2025	64,571
Due within fiscal year 2026	72,024
Due within fiscal year 2027	16,890
Due within fiscal year 2028	17,184
Total	$ 1,049,156

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of property and equipment at cost and accumulated depreciation (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 55,381	$ 48,600
Accumulated depreciation and amortization	(20,808)	(16,925)
Property and equipment, net	34,573	31,675
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,680	3,680
Land improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	910	910
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	22,845	22,845
Computer, equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18,702	14,951
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,250	2,246
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,880	2,538
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,114	$ 1,430

PROPERTY AND EQUIPMENT, NET - N

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 4,790	$ 6,457	$ 6,947

CAPITALIZED SOFTWARE, NET - Sch

CAPITALIZED SOFTWARE, NET - Schedule of components of capitalized software (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized software	$ 125,707	$ 83,682
Accumulated amortization	(71,724)	(43,680)
Capitalized software, net	$ 53,983	$ 40,002

CAPITALIZED SOFTWARE, NET - Nar

CAPITALIZED SOFTWARE, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized computer software, amortization	$ 28,109	$ 22,057	$ 13,764

CAPITALIZED SOFTWARE, NET - S_2

CAPITALIZED SOFTWARE, NET - Schedule of future amortization expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
2024	$ 96,529
2025	42,729
2026	16,232
Intangible assets, net	260,472	$ 263,069
Computer Software, Intangible Asset
Acquired Finite-Lived Intangible Assets [Line Items]
2024	28,151
2025	18,894
2026	6,938
Intangible assets, net	$ 53,983

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of changes in goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 750,155	$ 750,802
Foreign currency translation	(430)	(647)
Goodwill, ending balance	767,738	$ 750,155
Talenya
Goodwill [Roll Forward]
Goodwill	14,627
Verb
Goodwill [Roll Forward]
Goodwill	$ 3,386

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 07, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Partnership agreement	16 years
Amortization of intangible assets, excluding software		$ 98,248	$ 101,959	$ 125,590

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of components of intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 786,675	$ 691,024
Accumulated amortization:	(526,203)	(427,955)
Intangible assets, net	260,472	263,069
Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	151,855	142,165
Accumulated amortization:	(141,309)	(135,982)
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	462,452	443,187
Accumulated amortization:	(348,123)	(266,129)
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	105,670	105,672
Accumulated amortization:	(32,889)	(25,844)
Naming rights
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	66,698	0
Accumulated amortization:	$ (3,882)	$ 0

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of future amortization expense (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 96,529
2025	42,729
2026	16,232
2027	12,244
2028	12,244
Thereafter	80,494
Intangible assets, net	$ 260,472	$ 263,069

DEBT AGREEMENTS AND LETTERS O_2

DEBT AGREEMENTS AND LETTERS OF CREDIT - Narrative (Details)		5 Months Ended	12 Months Ended
	Jun. 11, 2021	Dec. 31, 2021	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Debt Instrument [Line Items]
Write-off, unamortized financing fees				$ 35,000	$ 2,195,000
Payments of deferred financing fees				100,000	$ 342,000
Long-term debt, net			$ 0	0
Letters of credit outstanding, amount			0	$ 0
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity			200,000,000
Line of credit, maximum increase			200,000,000
Line of credit, maximum borrowing capacity			$ 400,000,000
Leverage ratio	3.50
Interest coverage ratio	3
Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Credit facility unused fee, after IPO (in percentage)		0.0010
Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Credit facility unused fee, after IPO (in percentage)		0.00175
Revolving Credit Facility | Line of Credit | ABR Borrowings | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (in percentage)			0.50%
Revolving Credit Facility | Line of Credit | ABR Borrowings | Adjusted LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (in percentage)			1%
Revolving Credit Facility | Line of Credit | ABR Borrowings Prior to IPO
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (in percentage)			0.95%
Revolving Credit Facility | Line of Credit | Eurocurrency Borrowings Prior to IPO
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (in percentage)			1.95%
Revolving Credit Facility | Line of Credit | ABR Borrowings After IPO
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (in percentage)			0.375%
Revolving Credit Facility | Line of Credit | Eurocurrency Borrowings After IPO
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (in percentage)			1.375%

LEASES - Schedule of leased ass

LEASES - Schedule of leased assets and liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2022
Assets
Operating lease right-of-use assets	$ 16,834	$ 17,457	$ 0
Finance lease assets	530
Current:
Current operating lease liability	4,615
Current finance lease liability	298
Non-current:
Long-term operating leases	16,061		$ 0
Noncurrent finance lease liability	$ 331
Property and equipment, net	Property and equipment, net
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Other long-term liabilities	Other long-term liabilities

LEASES - Schedule of lease cost

LEASES - Schedule of lease costs (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2023 USD ($)
Operating lease cost:
Short-term	$ 15
Long-term	5,202
Finance lease cost:
Amortization of leased assets	260
Interest on lease liabilities	39
Total lease cost	5,516
Sublease income	$ 857

LEASES - Schedule of maturity o

LEASES - Schedule of maturity of lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jul. 01, 2022
Operating
2024	$ 5,267
2025	4,427
2026	4,151
2027	3,804
2028	1,183
Thereafter	6,035
Total minimum lease payments	24,867
Less: Amount representing interest	(4,191)
Present value of minimum lease payments	20,676	$ 24,626
Finance
2024	323
2025	296
2026	45
2027	0
2028	0
Thereafter	0
Total minimum lease payments	664
Less: Amount representing interest	(35)
Present value of minimum lease payments	$ 629

LEASES - Lease information (Det

LEASES - Lease information (Details)	Jun. 30, 2023
Weighted average remaining lease term:
Operating leases	6 years 7 months 6 days
Finance leases	2 years 1 month 6 days
Weighted average discount rate:
Operating leases	4.10%
Finance leases	5%

LEASES - Schedule of impact to

LEASES - Schedule of impact to cash flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 10,261
Operating cash flows used for finance leases	39
Financing cash flows used for finance leases	284
Leased assets obtained in exchange for new finance lease liabilities	0
Right-of-use assets obtained in exchange for operating lease liabilities	$ 6,359	$ 0	$ 0

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($)
Leases [Abstract]
Loss on lease exit	$ 9,055
Write-off of carrying value of assets	4,910
Deferred rent	$ 3,250

LEASES - Exit Cost Rollforward

LEASES - Exit Cost Rollforward (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Exit cost obligation at cease-use date in fiscal 2022	$ 7,395
Accretion during fiscal year 2022	57
Net payments made during fiscal year 2022	(1,065)
Exit cost obligation at cease-use date in fiscal 2022	$ 6,387

LEASES - Exit Cost Obligation (

LEASES - Exit Cost Obligation (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Accrued expenses and other current liabilities	$ 3,037
Other long-term liabilities	3,350
Total exit cost obligation	$ 6,387	$ 7,395

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of financial assets and financial liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
U.S. Treasury and direct obligations of U.S. government agencies
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	$ 71,397	$ 29,077
Corporate bonds
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	169,612	110,863
Commercial paper
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	2,974	6,641
Other securities
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	21,360	19,453
Fair Value, Recurring
Funds held for clients—available-for-sale:
Assets, fair value disclosure	1,049,156	1,715,916
Fair Value, Recurring | U.S. Treasury and direct obligations of U.S. government agencies
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	71,397	29,077
Fair Value, Recurring | Corporate bonds
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	169,612	110,863
Fair Value, Recurring | Commercial paper
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	2,974	6,641
Fair Value, Recurring | Other securities
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	21,360	19,453
Fair Value, Recurring | Level 1
Funds held for clients—available-for-sale:
Assets, fair value disclosure	783,813	1,549,882
Fair Value, Recurring | Level 1 | U.S. Treasury and direct obligations of U.S. government agencies
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 1 | Corporate bonds
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 1 | Commercial paper
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 1 | Other securities
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 2
Funds held for clients—available-for-sale:
Assets, fair value disclosure	265,343	166,034
Fair Value, Recurring | Level 2 | U.S. Treasury and direct obligations of U.S. government agencies
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	71,397	29,077
Fair Value, Recurring | Level 2 | Corporate bonds
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	169,612	110,863
Fair Value, Recurring | Level 2 | Commercial paper
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	2,974	6,641
Fair Value, Recurring | Level 2 | Other securities
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	21,360	19,453
Fair Value, Recurring | Level 3
Funds held for clients—available-for-sale:
Assets, fair value disclosure	0	0
Fair Value, Recurring | Level 3 | U.S. Treasury and direct obligations of U.S. government agencies
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 3 | Corporate bonds
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 3 | Commercial paper
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Fair Value, Recurring | Level 3 | Other securities
Funds held for clients—available-for-sale:
Debt securities, available-for-sale	0	0
Demand deposit accounts and other cash equivalents
Funds held for clients—cash and cash equivalents:
Demand deposit accounts and other cash equivalents	783,813	1,549,882
Demand deposit accounts and other cash equivalents | Fair Value, Recurring
Funds held for clients—cash and cash equivalents:
Demand deposit accounts and other cash equivalents	783,813	1,549,882
Demand deposit accounts and other cash equivalents | Fair Value, Recurring | Level 1
Funds held for clients—cash and cash equivalents:
Demand deposit accounts and other cash equivalents	783,813	1,549,882
Demand deposit accounts and other cash equivalents | Fair Value, Recurring | Level 2
Funds held for clients—cash and cash equivalents:
Demand deposit accounts and other cash equivalents	0	0
Demand deposit accounts and other cash equivalents | Fair Value, Recurring | Level 3
Funds held for clients—cash and cash equivalents:
Demand deposit accounts and other cash equivalents	$ 0	$ 0

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS - Narrative (Details) - USD ($) $ in Thousands				2 Months Ended	3 Months Ended	12 Months Ended
	Jul. 23, 2021	Jan. 20, 2021	Dec. 29, 2020	Nov. 01, 2018	Sep. 30, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Class of Stock [Line Items]
Proceeds from issuance of preferred stock, net of offering costs		$ 90,020	$ 180,005			$ 0	$ 0	$ 262,772
Payments of stock issuance costs	$ 30,583
Preferred stock, dividend, payment in cash (in percentage)					50%
Redemption of outstanding shares	$ 260,044
Apax Acquisition | Redeemable Preferred Stock
Class of Stock [Line Items]
Issuance of preferred stock, net (in shares)				200,000
Proceeds from issuance of preferred stock, net of offering costs				$ 194,745
Payments of stock issuance costs				$ 5,255
Preferred stock, dividend, increase under unmet requirements per year (in percentage)				2%
Preferred stock, dividend, increase under unmet requirements per semester (in percentage)				1%
Preferred stock, dividend, increase under unmet requirements, period				6 months
Preferred stock, redemption price (in percentage)	1.01%
Accretion of redeemable noncontrolling interests						$ 0	$ 11,621	$ 24,438
Apax Acquisition | Redeemable Preferred Stock | Second to third anniversary of issuance date
Class of Stock [Line Items]
Preferred stock, dividend, payment in cash (in percentage)				50%
Apax Acquisition | Redeemable Preferred Stock | After Third Anniversary Of Issuance Date
Class of Stock [Line Items]
Preferred stock, dividend, payment in cash (in percentage)				100%
Apax Acquisition | Redeemable Preferred Stock | May 2, 2020 To November 2, 2020
Class of Stock [Line Items]
Preferred stock, redemption price (in percentage)				1.02%
Apax Acquisition | Redeemable Preferred Stock | November 2, 2021 And Thereafter
Class of Stock [Line Items]
Preferred stock, redemption price (in percentage)				1%
Apax Acquisition | Redeemable Preferred Stock | London Interbank Offered Rate (LIBOR) 1 | Minimum
Class of Stock [Line Items]
Preferred stock, dividend rate (in percentage)				1%
Apax Acquisition | Redeemable Preferred Stock | London Interbank Offered Rate (LIBOR) 1 | Second to third anniversary of issuance date
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate (in percentage)				8.875%
Apax Acquisition | Redeemable Preferred Stock | London Interbank Offered Rate (LIBOR) 1 | After Third Anniversary Of Issuance Date
Class of Stock [Line Items]
Preferred stock, basis spread on variable rate (in percentage)				8.375%

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details) $ / shares in Units, $ in Thousands							1 Months Ended	12 Months Ended
	Dec. 06, 2022 $ / shares shares	Sep. 09, 2022 $ / shares shares	Oct. 19, 2021 $ / shares shares	Jul. 23, 2021 USD ($) $ / shares shares	Jan. 20, 2021 USD ($) shares	Dec. 29, 2020 USD ($) $ / shares shares	Jul. 31, 2021	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)								500,000,000	500,000,000
Common stock, par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)								50,000,000	50,000,000
Preferred stock, par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001
Common stock, shares outstanding (in shares)								176,535,236	174,909,539
Preferred stock, shares outstanding (in shares)								0	0
Proceeds from issuance of preferred stock, net of offering costs | $					$ 90,020	$ 180,005		$ 0	$ 0	$ 262,772
Preferred stock, initial liquidation (in dollars per share) | $ / shares						$ 35,000
Proceeds from promissory note with related party | $						$ 64,989		$ 0	$ 0	$ 64,989
Treasury stock (in shares)						10,620,260		10,620,260	10,620,260
Treasury stock acquired, average cost per share (in dollars per share) | $ / shares						$ 23.07
Payments for repurchase of common Stock | $						$ 245,000
Payments of stock issuance costs | $				$ 30,583
Stock split conversion ratio							1,517.18
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)								0
IPO
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares				$ 0.001
Number of shares issued in transaction (in shares)	6,000,000	5,000,000	12,000,000	21,275,000
Offering price per share (in dollars per share) | $ / shares	$ 28.60	$ 27.35	$ 32	$ 23
Issuance of preferred stock, net (in shares)				11,705,039
Over-Allotment Option
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)			1,800,000
Sale of stock, purchase period			30 days
Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)								0	0	0	0
Issuance of preferred stock, net (in shares)					2,572	5,143
Proceeds from issuance of preferred stock, net of offering costs | $										$ 270,025
Payments of stock issuance costs | $					$ 7,253
Preferred Stock | Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)								0	0	7,715	0
Issuance of preferred stock, net (in shares)										7,715

EQUITY COMPENSATION PLANS - Nar

EQUITY COMPENSATION PLANS - Narrative (Details)				12 Months Ended
	Jul. 23, 2021 shares	Jul. 20, 2021 USD ($) shares	Nov. 02, 2018 tradingDay installment	Jun. 30, 2023 USD ($) plan $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost				$ 78,225,000	$ 71,376,000	$ 3,983,000
Income tax benefits				$ 8,708,000	$ 4,352,000	43,000
Number of plans | plan				3
Number of installments | installment			12
Options granted in period (in shares) | shares				938,717	1,159,520
Expected dividend yield on stock				0%	0%
ESPP offering period		4 months
Liability Incentive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of unvested awards accelerated to vest			50%
Percentage of unvested awards earned and paid			50%
Unvested awards earned and paid, amount				$ 0	$ 0	11,605,000
Liability incentive award				0	$ 0	0
Unamortized compensation expense				$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost						$ 0
Award vesting rights, percentage			20%
Trading day period | tradingDay			10
Unrecognized compensation expense, weighted average period	2 years	2 years		1 year 10 months 24 days
Unrecognized compensation expense				$ 53,131,000
Number of vested units (in shares) | shares				1,320,128
Award requisite service period				2 years
Granted (in dollars per share) | $ / shares				$ 29.01	$ 29.97	$ 0
Weighted average grant date fair value of units				$ 37,700,000	$ 18,971,000	$ 0
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			6 months
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			12 months
Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			18 months
Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			24 months
Restricted Stock Units (RSUs) | 2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period				3 years
Restricted Stock Units (RSUs) | IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of preferred stock, net (in shares) | shares	1,761,578
Time-Based Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	25%
Award vesting period	6 months
Unrecognized compensation expense, weighted average period				10 months 24 days
Unrecognized compensation expense				$ 877,000
Number of vested units (in shares) | shares				32,571	25,310	15,487
Weighted average grant date fair value of units (in dollars per share) | $ / shares				$ 386	$ 417	$ 445
Expected dividend yield on stock				0%
Time-Based Incentive Units | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			25%
Time-Based Incentive Units | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			100%
Time-Based Incentive Units | IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	24 months
Stock Options | 2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent		85%
Maximum contribution per employee		$ 25,000
Stock Options | 2021 Employee Stock Purchase Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of eligible pay		1%
Stock Options | 2021 Employee Stock Purchase Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of eligible pay		10%
Modified MEP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, weighted average period				1 month 6 days
Unrecognized compensation expense				$ 1,465,000
Number of vested units (in shares) | shares				25,998	9,009	0
Weighted average grant date fair value of units (in dollars per share) | $ / shares				$ 1,410	$ 1,428	$ 0
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, weighted average period				1 year 10 months 24 days
Intrinsic value of options exercised				$ 136,000	$ 0	$ 0
Unrecognized compensation cost related to unvested stock options				$ 13,857,000
Share-based Payment Arrangement, Option | 2021 Omnibus Incentive Plan | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period (in shares) | shares		1,135,144

EQUITY COMPENSATION PLANS - Val

EQUITY COMPENSATION PLANS - Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period (in shares)	938,717	1,159,520
Expected volatility range of stock	45%	42.50%
Expected life of option (in years)	5 years 10 months 6 days	5 years 10 months 6 days
Expected dividend yield on stock	0%	0%
Time-Based Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield on stock	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price per option (in dollars per share)		$ 23
Risk-free interest rate	4.02%	0.81%
Fair value per option (in dollars per share)	$ 14.27	$ 9.36
Minimum | Time-Based Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range of stock	60%
Expected life of option (in years)	8 months 1 day
Risk-free interest rate	0.09%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price per option (in dollars per share)	$ 29.56	$ 35.16
Risk-free interest rate		2.41%
Fair value per option (in dollars per share)		$ 14.51
Maximum | Time-Based Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range of stock	65%
Expected life of option (in years)	9 months
Risk-free interest rate	0.12%

EQUITY COMPENSATION PLANS - MEP

EQUITY COMPENSATION PLANS - MEP Unit Incentive Activity (Details)	12 Months Ended
	Jun. 30, 2023 $ / shares shares
Time-Based Incentive Units
Number of Units
Beginning balance (in shares) | shares	37,056
Granted (in shares) | shares	0
Forfeited (in shares) | shares	(119)
Ending balance (in shares) | shares	36,937
Weighted Average Floor Price
Beginning balance (in dollars per share)	$ 563
Granted (in dollars per share)	0
Forfeited (in dollars per share)	1,181
Ending balance (in dollars per share)	561
Weighted Average Fair Value
Beginning balance (in dollars per share)	443
Granted (in dollars per share)	0
Forfeited (in dollars per share)	314
Ending balance (in dollars per share)	$ 443
Modified MEP Units
Number of Units
Beginning balance (in shares) | shares	34,735
Granted (in shares) | shares	0
Forfeited (in shares) | shares	(471)
Ending balance (in shares) | shares	34,264
Weighted Average Floor Price
Beginning balance (in dollars per share)	$ 589
Granted (in dollars per share)	0
Forfeited (in dollars per share)	274
Ending balance (in dollars per share)	593
Weighted Average Fair Value
Beginning balance (in dollars per share)	1,423
Granted (in dollars per share)	0
Forfeited (in dollars per share)	1,737
Ending balance (in dollars per share)	$ 1,419

EQUITY COMPENSATION PLANS - Sto

EQUITY COMPENSATION PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Options Outstanding
Beginning balance (in shares)	1,112,779
Granted (in shares)	938,717	1,159,520
Exercised (in shares)	(15,000)
Forfeited and cancelled (in shares)	0
Ending balance (in shares)	2,036,496	1,112,779
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 23.18
Granted (in dollars per share)	29.56
Exercised (in dollars per share)	23
Forfeited and cancelled (in dollars per share)	0
Ending balance (in dollars per share)	26.12	$ 23.18
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	9.45
Granted (in dollars per share)	14.27
Exercised (in dollars per share)	9.36
Forfeited and cancelled (in dollars per share)	0
Ending balance (in dollars per share)	$ 11.68	$ 9.45
Weighted Average Remaining Contractual Term (In Years)
Beginning balance, Weighted Average Remaining Contractual Term (In Years)	8 years 7 months 17 days	9 years 25 days
Granted, Weighted Average Remaining Contractual Term	9 years 3 months 3 days
Ending balance, Weighted Average Remaining Contractual Term (In Years)	8 years 7 months 17 days	9 years 25 days
Aggregate Intrinsic Value [Abstract]
Beginning balance, Aggregate Intrinsic Value	$ 3,265
Ending balance, Aggregate Intrinsic Value	$ 719	$ 3,265
Stock Options Additional Disclosures
Options exercisable (in shares)	689,249
Options exercisable, Weighted average exercise price (in dollars per share)	$ 23.14
Options exercisable, Weighted average grant date fair value (in dollars per share)	$ 9.43
Options exercisable, Weighted average remaining contractual term	8 years 25 days
Options exercisable, Aggregate intrinsic value	$ 455

EQUITY COMPENSATION PLANS - Res

EQUITY COMPENSATION PLANS - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Number of Units
Beginning balance (in shares)	2,405,484
Granted (in shares)	1,790,430
Vested (in shares)	(1,320,128)
Forfeited (in shares)	(216,666)
Ending balance (in shares)	2,659,120	2,405,484
Weighted Average Grant Price
Beginning balance (in dollars per share)	$ 28.78
Granted (in dollars per share)	29.01	$ 29.97	$ 0
Vested (in dollars per share)	28.56
Forfeited (in dollars per share)	28.72
Ending balance (in dollars per share)	$ 29.05	$ 28.78

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss attributable to Paycor HCM, Inc.	$ (93,215)	$ (119,638)	$ (96,920)
Weighted average outstanding shares:
Basic (in shares)	176,039,651	172,636,523	146,364,225
Diluted (in shares)	176,039,651	172,636,523	146,364,225
Basic net loss per share (in dollars per share)	$ (0.53)	$ (0.69)	$ (0.66)
Diluted net loss per share (in dollars per share)	$ (0.53)	$ (0.69)	$ (0.66)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligations, 2024	$ 32,958
Purchase obligations, 2025	50,636
Purchase obligations, 2026	50,636
Purchase obligations, 2027	17,715
Purchase obligations, 2028	17,715
Purchase obligations, thereafter	$ 79,137

PROFIT SHARING PLAN (Details)

PROFIT SHARING PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Percent of employer matching contribution	65%
Percent of employee's eligible wages	6%
Define contribution plan costs	$ 7,232	$ 6,073	$ 2,505

INCOME TAXES - Income (Loss) Be

INCOME TAXES - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
U.S.	$ (111,885)	$ (140,021)	$ (94,223)
Foreign	7,222	1,430	929
Loss before benefit for income taxes	$ (104,663)	$ (138,591)	$ (93,294)

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Federal:
Current provision	$ 0	$ 1	$ 9
Deferred benefit	(14,642)	(29,547)	(18,570)
Federal tax benefit	(14,642)	(29,546)	(18,561)
State:
Current provision	246	51	140
Deferred provision (benefit)	988	(1,344)	(2,655)
State tax provision (benefit)	1,234	(1,293)	(2,515)
Foreign:
Current (benefit) provision	(25)	314	61
Deferred provision (benefit)	1,985	(49)	203
Foreign tax provision	1,960	265	264
Total tax benefit	$ (11,448)	$ (30,574)	$ (20,812)

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Deferred tax assets:
Stock-based compensation	$ 6,400	$ 4,497
Accrued expenses	2,565	2,360
Net operating loss carryforwards	63,466	56,089
Deferred rent	0	1,093
Deferred revenue	4,434	4,023
Unrealized gain	1,033	618
Lease liability	5,105
Tax credits	12,742	8,457
Other items	1,699	1,279
Total deferred tax assets	97,444	78,416
Valuation allowance	(3,750)	(744)
Net deferred tax assets	93,694	77,672
Deferred tax liabilities:
Software development costs	(9,970)	(9,718)
Deferred contract costs	(53,982)	(39,786)
Property and equipment	(4,034)	(3,432)
Operating lease right-of-use assets	(4,179)
Other intangibles	(38,890)	(56,530)
Other	0	(101)
Total deferred liabilities	(111,055)	(109,567)
Net deferred tax liabilities	$ (17,361)	$ (31,895)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Tax Examination [Line Items]
Increase in deferred tax asset	$ 3,452
Valuation allowance	3,750	$ 744
Operating loss carryforwards not subject to expiration	207,921
Operating loss carryforwards, subject to expiration	58,244
Research and development tax credit carryforwards	12,251	7,982
TEXAS
Income Tax Examination [Line Items]
Research and development tax credit carryforwards	1,118	982
Domestic Tax Authority
Income Tax Examination [Line Items]
Operating loss carryforwards	266,165	234,806
State and Local Jurisdiction
Income Tax Examination [Line Items]
Operating loss carryforwards	148,212	211,795
Foreign Tax Authority
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 2,962	$ 0

INCOME TAXES - Schedule of Unre

INCOME TAXES - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at the beginning of the year	$ 381	$ 0
Additions for tax positions	0	97
Additions for tax positions of prior periods	88	284
Unrecognized tax benefits at the end of the year	$ 469	$ 381

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%	21%
Research tax credits	2.70%	3.60%	0%
State income taxes, net of federal tax benefit	(0.90%)	1.70%	2.70%
Foreign rate differential	(2.00%)	0%	0%
Stock-based compensation	(8.70%)	(4.60%)	(0.90%)
Transaction costs	(0.20%)	2.20%	0%
Other permanent differences	(0.70%)	(1.40%)	(0.50%)
Valuation allowance	(0.30%)	(0.40%)	0%
Effective income tax rate	10.90%	22.10%	22.30%

CONDENSED FINANCIAL INFORMATI_3

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY) - Schedule of condensed balance sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Assets
Cash and cash equivalents	$ 95,233	$ 133,041	$ 2,634
Total assets	2,541,175	3,131,317
Liabilities and Stockholders’ Equity
Total liabilities	1,267,491	1,846,586
Total liabilities and stockholders' equity	2,541,175	3,131,317
Parent Company
Assets
Cash and cash equivalents	5,155	5,000
Investment in subsidiary	1,268,529	1,279,731
Total assets	1,273,684	1,284,731
Liabilities and Stockholders’ Equity
Total liabilities	0	0
Total stockholders’ equity	1,273,684	1,284,731
Total liabilities and stockholders' equity	$ 1,273,684	$ 1,284,731

CONDENSED FINANCIAL INFORMATI_4

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY) - Schedule of condensed income statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Condensed Income Statements, Captions [Line Items]
Net loss attributable to Paycor HCM, Inc.	$ (93,215)	$ (119,638)	$ (96,920)
Other comprehensive loss, net of tax:
Subsidiaries’ other comprehensive (loss) income	(1,337)	(2,980)	382
Comprehensive loss attributable to Paycor HCM, Inc.	(94,552)	(122,618)	(96,538)
Parent Company
Condensed Income Statements, Captions [Line Items]
Other Income	155	0	0
Equity in net loss of subsidiary	(93,370)	(119,638)	(96,920)
Net loss attributable to Paycor HCM, Inc.	(93,215)	(119,638)	(96,920)
Other comprehensive loss, net of tax:
Subsidiaries’ other comprehensive (loss) income	(1,337)	(2,980)	382
Total other comprehensive (loss) income	(1,337)	(2,980)	382
Comprehensive loss attributable to Paycor HCM, Inc.	$ (94,552)	$ (122,618)	$ (96,538)

CONDENSED FINANCIAL INFORMATI_5

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY) - Schedule of condensed cash flows statement (Details) - USD ($) $ in Thousands			12 Months Ended
	Jan. 20, 2021	Dec. 29, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net loss attributable to Paycor HCM, Inc.			$ (93,215)	$ (119,638)	$ (96,920)
Adjustments to reconcile net loss to net cash provided by operating activities:
Net cash provided by operating activities			48,115	24,351	10,773
Investing Activities:
Net cash used in investing activities			(192,962)	(84,550)	(52,581)
Financing Activities:
Proceeds from issuance of preferred stock, net of offering costs	$ 90,020	$ 180,005	0	0	262,772
Purchase of treasury stock at cost			0	0	(245,074)
Proceeds from the issuance of common stock sold in the IPO, net of offering costs and underwriting discount			0	454,915	0
Withholding taxes paid related to net share settlements			(2,459)	0	0
Proceeds from exercise of stock options			345	0	0
Proceeds from employee stock purchase plan			8,285	3,187	0
Net cash (used in) provided by financing activities			(659,048)	1,183,031	55,316
Net change in cash, cash equivalents, restricted cash and short-term investments, and funds held for clients			(803,877)	1,122,923	13,552
Cash, cash equivalents, restricted cash and short-term investments, and funds held for clients, beginning of period			1,682,923	560,000	546,448
Cash, cash equivalents, restricted cash and short-term investments, and funds held for clients, end of period			879,046	1,682,923	560,000
Parent Company
Operating Activities:
Net loss attributable to Paycor HCM, Inc.			(93,215)	(119,638)	(96,920)
Adjustments to reconcile net loss to net cash provided by operating activities:
Equity in net loss of subsidiaries			93,370	119,638	96,920
Net cash provided by operating activities			155	0	0
Investing Activities:
Net cash used in investing activities			0	0	0
Financing Activities:
Proceeds from issuance of preferred stock, net of offering costs			0	0	262,772
Purchase of treasury stock at cost			0	0	(245,074)
Proceeds from the issuance of common stock sold in the IPO, net of offering costs and underwriting discount			0	454,915	0
Contributions to subsidiaries			(6,081)	(453,102)	(17,698)
Withholding taxes paid related to net share settlements			(2,549)	0	0
Proceeds from exercise of stock options			345	0	0
Proceeds from employee stock purchase plan			8,285	3,187	0
Net cash (used in) provided by financing activities			0	5,000	0
Net change in cash, cash equivalents, restricted cash and short-term investments, and funds held for clients			155	5,000	0
Cash, cash equivalents, restricted cash and short-term investments, and funds held for clients, beginning of period			5,000	0	0
Cash, cash equivalents, restricted cash and short-term investments, and funds held for clients, end of period			$ 5,155	$ 5,000	$ 0