OverviewSuggest Edit

Ultimate Software is a company providing HR software and payroll solutions. It offers UltiPro, a SaaS platform that delivers human resources, human capital management, payroll, benefits administration, recruiting, onboarding, as well as performance, compensation, succession, employee file management, and other capabilities. The platform is based on natural language processing and machine learning predicting and prescribing personalized actions. Ultimate Software merged with Kronos to form UKG.

StateClosed
TypePrivate
Founded1990
HQWeston, US
Websiteultimatesoftware.com
Employee Ratings4.5
Overall CultureA+

Latest Updates

Employees (est.) (Sept 2020)4,681(-3%)
Job Openings51
Revenue (FY, 2018)$1.1 B(+22%)
Share Price (May 2019)$331.4
Cybersecurity ratingBMore

Key People/Management at Ultimate Software

Aron Ain

Aron Ain

Chief Executive Officer and Chairman
Chris Todd

Chris Todd

President
David Almeda

David Almeda

Chief People Officer
Dave Almeda

Dave Almeda

Chief People Officer Lowell, MA
Joanne Degnan

Joanne Degnan

Chief Services Officer
John Machado

John Machado

Chief Technology Officer
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Ultimate Software Office Locations

Ultimate Software has offices in Weston, Toronto, Singapore, Madrid and in 1 other location
Weston, US (HQ)
2000 Ultimate Way
Toronto, CA
144 Bloor St W #400
Singapore, SG
One George Street, #20-04
Madrid, ES
Calle de Miguel Ángel, 11, 5a
London, GB
Rex House, 4th Floor, St. James's
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Ultimate Software Financials and Metrics

Summary Metrics

Founding Date

1990

Ultimate Software total Funding

$19 m

Ultimate Software latest funding size

$3.40 m

Time since last funding

7 years ago

Ultimate Software investors

Ultimate Software's latest funding round in November 2013 was reported to be $3.4 m. In total, Ultimate Software has raised $19 m
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Ultimate Software Revenue

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View revenue for all periods
Ultimate Software's revenue was reported to be $1.14 b in FY, 2018 which is a 21.2% increase from the previous period.
USD

Revenue (Q1, 2019)

335.0m

Gross profit (Q1, 2019)

205.6m

Gross profit margin (Q1, 2019), %

61.4%

Net income (Q1, 2019)

13.2m

Cash (31-Mar-2019)

100.4m
Annual
USDFY, 2016FY, 2017FY, 2018

Revenue

781.3m940.7m1.1b

Revenue growth, %

26%20%21%

Cost of goods sold

300.1m353.7m431.7m

Gross profit

481.2m587.0m708.8m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Revenue

228.5m224.7m236.1m276.8m271.2m287.8m335.0m

Cost of goods sold

89.7m84.3m88.7m104.8m102.6m111.8m129.4m

Gross profit

138.8m140.4m147.4m172.0m168.6m176.0m205.6m

Gross profit Margin, %

61%63%62%62%62%61%61%
Annual
USDFY, 2016FY, 2017FY, 2018

Cash

73.8m155.7m151.2m

Accounts Receivable

162.2m191.0m238.8m

Prepaid Expenses

61.9m71.6m90.8m

Current Assets

779.7m990.8m1.1b
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

73.8m98.0m125.7m143.6m184.9m132.7m100.4m

Accounts Receivable

161.4m168.9m183.9m192.5m195.2m210.9m247.7m

Prepaid Expenses

66.8m72.5m72.3m64.3m78.1m83.6m110.2m

Current Assets

1.2b842.0m872.1m1.6b1.1b1.0b1.8b
Annual
USDFY, 2016FY, 2017FY, 2018

Net Income

30.3m14.1m65.1m

Depreciation and Amortization

27.1m34.1m49.2m

Accounts Payable

5.9m2.6m(5.1m)

Cash From Operating Activities

159.5m214.0m223.9m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

7.3m12.3m17.0m21.0m34.7m51.8m13.2m

Depreciation and Amortization

8.2m16.6m25.1m9.4m19.1m34.6m17.3m

Accounts Payable

5.4m316.0k(670.0k)(96.0k)(2.0m)(9.1m)825.0k

Cash From Operating Activities

46.3m89.5m139.3m56.6m118.1m172.2m35.2m
USDFY, 2016

Revenue/Employee

208.5k

Financial Leverage

2.7 x
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Ultimate Software Operating Metrics

Ultimate Software's Backlog was reported to be $522.1m in FY, 2018. Ultimate Software's Customers was reported to be 5.6 k in Q1, 2019.
FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019

People Records

33 m33 m33 m35 m37 m37 m40 m40 m48 m48 m

Languages

14 12 12 12 14 14 14 14 14 14

Backlog

$399.90 m$456.20 m$522.10 m

Customers

3.70 k3.70 k3.70 k4 k4.10 k4.10 k4.40 k4.50 k5.60 k5.60 k
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Ultimate Software Acquisitions / Subsidiaries

Company NameDateDeal Size
PeopleDocJuly 17, 2018$300 m
KanjoyaSeptember 30, 2016
VestricsMay 20, 2016
EmployTouchOctober 11, 2013
PeopleDoc Germany GmbH
PeopleDoc, Incorporated
PeopleDoc SAS
PeopleDoc UK Limited
The Ultimate Software Group of Asia
The Ultimate Software Group of Canada

Ultimate Software Revenue Breakdown

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Ultimate Software revenue breakdown by business segment: 12.6% from Services and 87.4% from Recurring

Human Capital Metrics

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Ultimate Software Cybersecurity Score

Cybersecurity ratingPremium dataset

B

87/100

SecurityScorecard logo

Ultimate Software Online and Social Media Presence

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Ultimate Software Company Culture

  • Overall Culture

    A+

    90/100

  • CEO Rating

    A+

    98/100

  • Compensation

    A+

    88/100

  • Diversity

    A+

    86/100

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Ultimate Software News and Updates

Ultimate Software, Kronos Equity at Work Council Seeks to Address Workplace Inequities, Invites HR Leaders to Join Conversation

Interdisciplinary group explores science behind diversity, equity, inclusion, belonging in the workplace.read more

How Ultimate Software became the best workplace in tech

Ultimate Software's "people first" approach has helped it win the top spot on the list of best workplaces in technology.

Ultimate Software Earns Brandon Hall Group Excellence in Technology Gold Award for UltiPro Launch

With an intuitive blend of product and service, UltiPro Launch offers a collaborative rollout experience to help new Ultimate customers go live on UltiPro with ease and efficiency. UltiPro Launch also includes a personalized project dashboard with detailed insights in one, central location, as well …

Ultimate Software Ranked #9 on Fortunes Best Workplaces for Diversity List for 2019

The ranking considers feedback from millions of employees surveyed at thousands of organizations across the United States, specifically analyzing the daily workplace experiences of women, underrepresented races/ethnicities, LGBTQ+ people, Baby Boomers and older generations, and people with disabilit…

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against The Ultimate Software Group, Inc. (ULTI)

NEW YORK, April 3, 2019 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, Case No. 1:19-cv-00505-CFC, on behalf of shareholders of The Ultimate Software Group, Inc. ("Ultimate ...

SHAREHOLDER ALERT: WeissLaw LLP Investigates The Ultimate Software Group, Inc.

NEW YORK, Feb. 8, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of The Ultimate Software Group, Inc. ("ULTI" or the "Company") (NASDAQ: ULTI) in connection with the proposed acquisition of the...
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Ultimate Software Blogs

Yep, Your Organization Needs “Momboarding”

Onboarding programs are typically for new employees, but how about those returning from parental leave? Welcome to "momboarding." The post Yep, Your Organization Needs “Momboarding” appeared first on Ultimate Software Blog.

You Should Be at the HR Tech Virtual Conference Right Now. Here’s Why.

HR Tech is here...and it's virtual! Find out why you absolutely can't miss it this year. The post You Should Be at the HR Tech Virtual Conference Right Now. Here’s Why. appeared first on Ultimate Software Blog.

The Science of Taking Time Off

Employees have taken less time off this year, and many employers are finding new ways to address the inevitability of employee burnout. The post The Science of Taking Time Off appeared first on Ultimate Software Blog.

Don’t Make Employees Sleep on the Floor

Employment attorney Kate Bischoff explains why employers need more than the floor of what's legally required for great employee experiences. The post Don’t Make Employees Sleep on the Floor appeared first on Ultimate Software Blog.

How 12,000 People Came Together to Create UKG

Have you ever wondered how UKG was built? Get the story behind the brand from our chief marketing officer, Jody Kaminsky. The post How 12,000 People Came Together to Create UKG appeared first on Ultimate Software Blog.

Write the Empathetic Job Postings that Candidates Need in 2020

Hiring isn't the same in 2020. Recruiting writer Katrina Kibben shares her tips for writing job posts that fit today's climate. The post Write the Empathetic Job Postings that Candidates Need in 2020 appeared first on Ultimate Software Blog.
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Ultimate Software Frequently Asked Questions

  • When was Ultimate Software founded?

    Ultimate Software was founded in 1990.

  • Who are Ultimate Software key executives?

    Ultimate Software's key executives are Aron Ain, Chris Todd and David Almeda.

  • How many employees does Ultimate Software have?

    Ultimate Software has 4,681 employees.

  • What is Ultimate Software revenue?

    Latest Ultimate Software annual revenue is $1.1 b.

  • What is Ultimate Software revenue per employee?

    Latest Ultimate Software revenue per employee is $243.7 k.

  • Who are Ultimate Software competitors?

    Competitors of Ultimate Software include TriNet, Ceridian and ADP.

  • Where is Ultimate Software headquarters?

    Ultimate Software headquarters is located at 2000 Ultimate Way, Weston.

  • Where are Ultimate Software offices?

    Ultimate Software has offices in Weston, Toronto, Singapore, Madrid and in 1 other location.

  • How many offices does Ultimate Software have?

    Ultimate Software has 5 offices.