Ryan Glenn
CFO at Paylocity
For Q3, gross profit was 324,700,000.0 operating income was $127,000,000 and net income was $91,500,000 In regard to the balance sheet, we ended the quarter with $477,800,000 in cash, cash equivalents and invested corporate cash and $243,800,000 outstanding on our credit facility related to the Airbase acquisition with approximately $81,000,000 repaid on our outstanding balance in Q3. Additionally, given the confidence we have in our business and our strong cash flows, we continue to utilize our share repurchase program with $84,900,000 or approximately 429,000 shares of common stock repurchased in Q3 at an average price of $198.13 per share. In total, through April 30, we have repurchased $150,000,000 or approximately 800,000 shares of common stock this fiscal year at an average price of $190.16 per share. As a reminder, we have approximately $200,000,000 remaining under our current share repurchase program and anticipate continuing to execute against the repurchase program going forward. In regard to client health funds and interest income, our average daily balance of client funds was $3,600,000,000 in Q3.