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Revenue (Tables)
6 Months Ended
Jun. 30, 2022
Revenue From Contract With Customer [Abstract]  
Summary of Disaggregation of Revenue

Disaggregation of Revenue

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(Dollars in millions)

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Cloud

 

 

 

 

 

 

 

 

 

 

 

 

Dayforce

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

$

194.3

 

 

$

150.6

 

 

$

382.9

 

 

$

295.9

 

Professional services and other

 

 

46.2

 

 

 

38.0

 

 

 

87.8

 

 

 

74.8

 

Total Dayforce revenue

 

 

240.5

 

 

 

188.6

 

 

 

470.7

 

 

 

370.7

 

Powerpay

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

 

22.3

 

 

 

20.5

 

 

 

43.9

 

 

 

40.8

 

Professional services and other

 

 

0.1

 

 

 

0.3

 

 

 

0.3

 

 

 

0.6

 

Total Powerpay revenue

 

 

22.4

 

 

 

20.8

 

 

 

44.2

 

 

 

41.4

 

Total Cloud revenue

 

 

262.9

 

 

 

209.4

 

 

 

514.9

 

 

 

412.1

 

Bureau

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

 

34.5

 

 

 

37.0

 

 

 

72.2

 

 

 

67.4

 

Professional services and other

 

 

3.8

 

 

 

4.0

 

 

 

7.4

 

 

 

5.4

 

Total Bureau revenue

 

 

38.3

 

 

 

41.0

 

 

 

79.6

 

 

 

72.8

 

Total revenue

 

$

301.2

 

 

$

250.4

 

 

$

594.5

 

 

$

484.9

 

Schedule of Changes in Deferred Revenue

Deferred revenue primarily consists of payments received in advance of revenue recognition. The changes in deferred revenue were as follows:

 

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

 

(Dollars in millions)

 

Deferred revenue, beginning of period

 

$

48.7

 

 

$

24.4

 

New billings

 

 

298.3

 

 

 

244.0

 

Acquired billings

 

 

 

 

 

17.0

 

Revenue recognized

 

 

(303.5

)

 

 

(241.7

)

Effect of exchange rate

 

 

(1.2

)

 

 

(0.5

)

Deferred revenue, end of period

 

$

42.3

 

 

$

43.2