What changed in this filing

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Item 1. Business

2026-02-26 compared with 2025-03-06 · 69 added, 63 removed, 125 unchanged (51% of the section changed)

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We offer human resources (“HR”) tools necessary to build a thriving workforce, provide the resources to stay compliant with dynamic federal, state, and local tax jurisdictions and their respective labor laws, freeing cash flows so these businesses can spend their financial capital on growing their businesses rather than administrative overhead that can impede growth.

Our solutions also provide new ways for employers to connect with their employees in order to enhance their relationships with their talent.

Asure’s HCM suite (“Asure HCM”) includes Payroll & Tax solutions, Recruiting, HR compliance and services, Time & Attendance software, Insurance and Benefits Administration, and data integrations that enable employers and their employees to enhance efficiencies and take advantage of value-added solutions, which we refer to as AsureMarketplace™.

AsureMarketplace™ automates interactions between our HCM systems with third-party providers to enhance efficiency, improve accuracy and to extend the range of services offered to employers and their employees.

Our approach to HR compliance services leverages technology and on-demand content to enhance scalability and efficiency while prioritizing client interactions.

We offer our services directly and indirectly through our network of Reseller Partners.

Our solutions also provide new ways for employers to connect with their employees and strengthen relationships with their talent.

At the core of our offering is the Asure HCM platform—a SaaS-based system that includes Payroll & Tax filing, HR management tools, Time & Attendance software, Recruiting, and Benefits Administration.

This platform serves as the foundation for delivering both our core software and a range of complementary, technology-enabled services.

These include AsureMarketplace™, which automates data exchange between our HCM system and third-party providers to increase efficiency, accuracy, and breadth of services.

Our HR Compliance services combine expert guidance with scalable digital delivery.

AsurePay™, our payroll card, which we provide in association with our partners, offers employees fast, secure access to earned wages.

Additionally, through our licensed brokerage, we offer Insurance Services that help employers manage benefits and reduce administrative costs.

We deliver our solutions directly and through a national network of Reseller Partners.

From recruitment to retirement, our solutions help more than 100,000 clients across the United States.

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HR complexity, allocation of human and financial capital, and the ability to build great teams.

We sell our solutions through both direct and partner channels.

We supplement our direct sales efforts with partner programs that afford us access to opportunities in various geographic and industry niches.

Asure has two types of partners:

Reseller Partners that white label our products while providing value-added services to their clients (our indirect clients) and Referral Partners that provide us with client leads but do not resell our solutions.

We have and will continue to invest in research and development to expand our solutions.

Our solutions reduce the administrative burden on employers and increase employee productivity while managing the employment lifecycle.

The Asure HCM suite includes seven product lines:

Asure Payroll & Tax, Asure Tax Management Solutions, AsureRecruiting™, Asure HR Compliance, Asure Time & Attendance, Asure Insurance and Benefits Administration, and AsureMarketplace™.

The Asure HCM suite includes eight product lines:

Asure Payroll & Tax, Asure HR Compliance, Asure Time & Attendance, AsureRecruiting™, Asure Insurance and Benefits Administration, AsurePay™, Asure Tax Management Solutions, and AsureMarketplace™ .

We were incorporated in 1985 as a Delaware corporation and our principal executive offices are located at 405 Colorado Street, Suite 1800, Austin, Texas 78701.

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Reports and other information we file with the SEC may also be viewed at the SEC’s website at www.sec.gov.

Our solutions are primarily cloud-based and delivered as SaaS, technology-enabled HR services, and hardware (time clocks and data collection devices) as one-time purchases or a Hardware-as-a-Service (“HaaS”) offering.

Payroll and Tax.

Asure Payroll & Tax is an integrated solution that provides a foundation for our clients’ digital HR strategy.

We simplify payroll and automate and ensure compliance with the changing nature of regulations associated with payroll and taxes in all U.S.

jurisdictions—from wages, benefits, overtime, and garnishments to tips, direct deposits, the Fair Labor Standard Act and federal, state, and local payroll taxes.

Features include payroll taxes driven by up-to-date federal, state, and local tax tables and filing in a timely and accurate manner;

adhering to annual filing requirements for Form W-2 and forms mandated by the Affordable Care Act (“ACA”);

general ledger integration;

managed garnishments and employee self-service.

Additionally, self-service tools empower employees to manage their payroll and personal data, including AsurePay, a payroll debit card that offers competitive banking features with free on-demand pay capabilities.

With our self-service tools, employees can access pay stubs, update direct deposit preferences, track earnings in real time, and manage their financial information efficiently.

Tax Management Solutions.

Asure provides innovative payroll tax processing software and service solutions for the payroll service industry and corporate employers.

With several scalable software and service options, from traditional full- service outsourcing to SaaS solutions, the extensive product line offers companies the ability to select a payroll tax solution that suits their needs.

Human Resource Compliance.

Asure handles HR complexities that businesses face, including talent management and compliance with federal, state, and local regulations.

Asure provides three core levels of HR services:

(i) HR support, which provides an on-demand HR resource library, phone and email support for any HR issues and compliance and policy updates;

(ii) Strategic HR, which includes all the capabilities of HR Support while also providing more in-depth support for strategic HR decision making.

This service is designed specifically for managers, helping them stay compliant with employment regulations and enhance their effectiveness in workforce planning, performance management, and compliance strategies;

and (iii) Total HR, which includes all the capabilities of Strategic HR while also acting as HR support for frontline employees.

This service provides a comprehensive HR outsourcing solution that assists managers in staying compliant and optimizing workforce management while ensuring employees have direct support for HR-related needs.

We provide cloud-based payroll, HCM, payroll tax, treasury, and related technology-enabled services to employers and payroll industry participants.

Our offerings are delivered through software platforms, outsourced processing services, integrated payment capabilities, and hardware solutions.

Revenue is generated through a combination of recurring per-employee-per-month fees, transaction-based processing fees, implementation and setup fees, fees associated with payment processing and funds movement, and hardware sales and Hardware-as-a-Service (“HaaS”) arrangements.

Payroll and Human Capital Management Solutions

Our Payroll and HCM Solutions are primarily designed for small and mid-sized employers and provide payroll processing, workforce management, compliance support, and related employee services.

Clients may purchase individual point solutions, adopt bundled platform offerings, or engage us to provide administrative managed services under which we perform certain payroll, HR, compliance, and workforce administration functions on their behalf.

These managed services are delivered using our technology platforms and operational infrastructure.

Payroll Processing and Compliance.

We provide payroll calculation and processing services, including wage and overtime calculations, garnishments, direct deposit processing, and related payroll administration.

Our systems apply current federal, state, and local tax tables and support timely filing and remittance of payroll taxes across U.S.

jurisdictions.

We assist clients with periodic and annual filing requirements, including Forms W-2 and Affordable Care Act (“ACA”) reporting.

Our solutions include general ledger integration and employee self-service functionality that allows employees to access pay information, update personal data, and manage payroll-related preferences.

Human Resources and Workforce Management.

We provide HR compliance and workforce management services through tiered service offerings.

These services include access to HR resource libraries, regulatory updates, policy guidance, and advisory support related to employment laws and workplace practices.

Certain service levels provide more comprehensive HR support, including assistance with workforce planning, performance management processes, documentation, and compliance oversight.

Time and Attendance.

Asure Time & Attendance combines with our complementary hardware (time clocks and data collection devices) to provide cost savings and potential return on investment gains in the form of a more strategic use of labor dollars and the elimination of time theft.

Mobile time tracking helps executives better understand where and when their employees are working, providing insight into labor schedules and labor costs.

With our mobile solution, employees can punch in and out from remote locations, as geo-positioning verifies their physical coordinates.

Biometric time clocks, including facial recognition, reduce time theft and assist in the verification of the identities of workers.

Automated system notifications, real- time dashboards, and flexible configuration options all work to streamline operations.

Finally, employees, supervisors, and executives have real-time access to data and business intelligence to optimize labor costing, improve labor scheduling, and control labor costs.

Asure Marketplace.

AsureMarketplace™ automates interactions between our HCM systems with third-party providers to enhance efficiency, improve accuracy, and extend the range of services offered to employers and their employees.

Asure has developed a large set of pre-built applications that businesses can connect with and has developed integrations with partners to exchange capabilities and data.

These integrations enable businesses to communicate seamlessly and support a wide range of business-to-business and business-to-consumer applications.

Business applications can include income verification and earned wage access.

AsureRecruiting TM is a robust talent acquisition solution that simplifies and optimizes the hiring process for employers.

The platform provides unlimited job postings, locations, users, and applicant storage.

Job postings are automatically submitted to major job boards, including Indeed, Google Jobs, ZipRecruiter, Monster, LinkedIn, Facebook, and local or regional boards.

AsureRecruiting TM includes automated interview scheduling, an AI-powered job ad writing tool, and a mobile-friendly career site.

Employers can track, score, and communicate with applicants efficiently.

Additionally, the platform offers U.S.-based support with multiple contact options, including click, chat, and call, and provides free training and onboarding for seamless implementation.

Insurance and Benefits Administration.

Asure Insurance and Benefits Administration provides employers with an end-to-end solution for managing employee benefits, including health insurance, retirement plans, and other employer-sponsored benefits.

Asure Insurance and Benefits Administration is a comprehensive solution that enables businesses to both purchase and manage their employee benefits seamlessly.

As a one-stop shop, Asure serves as a Broker of Record (“BOR”), allowing employers to procure health benefits directly while also streamlining benefits administration.

The solution simplifies benefits enrollment, eligibility tracking, regulatory compliance, and carrier integrations.

Employers can manage Affordable Care Act (ACA) reporting, COBRA administration, and other compliance obligations effortlessly.

By integrating purchasing and administration into a single platform, Asure reduces administrative burdens, improves accuracy, and enhances the employee experience with easy access to benefits and support.

Our time and attendance solutions enable employers to capture employee work hours, manage labor scheduling, and monitor labor costs.

The platform integrates with payroll processing and supports mobile time capture, geo-positioning verification, and biometric authentication technologies.

We offer time clock hardware and related data collection devices as one-time purchases or through HaaS arrangements.

The system provides real-time dashboards, automated notifications, and reporting tools to support labor management and operational oversight.

Talent Acquisition.

We provide applicant tracking and recruiting tools designed to support job posting distribution, applicant management, interview scheduling, and related hiring workflows.

The system supports integration with third-party job boards and provides employers with applicant tracking, communication, and reporting functionality.

Benefits and Retirement Administration.

We provide insurance brokerage and benefits administration services, including support for employer-sponsored health plans, eligibility tracking, ACA reporting, and Consolidated Omnibus Budget Reconciliation Act (“COBRA”) administration.

In addition, we provide retirement plan administration services, including 401(k) plan support and related compliance services.

These solutions integrate with payroll processing to support enrollment, payroll deductions, and required reporting.

Employee Financial and Payment Services.

We offer employee-directed payment services integrated with payroll processing, including payroll debit card programs and earned wage access solutions.

These services facilitate electronic payment distribution and related funds movement and may generate transaction-based and payment processing-related fees.

Enterprise Payroll Tax and Treasury Solutions

Our Enterprise Payroll Tax and Treasury Solutions are designed for payroll service bureaus, large employers, and systems integrators that support enterprise HCM environments.

These solutions support payroll tax calculation, filing, remittance, and related treasury functions across multiple jurisdictions.

Payroll Tax Processing Platforms.

We provide software platforms that enable payroll providers and enterprise employers to calculate, file, and manage payroll tax obligations across federal, state, and local jurisdictions.

These platforms integrate with payroll and HCM systems and support multi-jurisdiction compliance requirements.

Outsourced Payroll Tax Services.

We provide full-service payroll tax filing and reporting services for payroll service bureaus and enterprise employers.

These services include preparation and filing of tax returns, amendment processing, notice management, and regulatory reporting support.

Treasury and Funds Management Services.

We facilitate tax payment remittance, settlement processing, and related funds movement services in connection with payroll tax obligations.

These services may involve transaction-based and processing-related fees associated with tax payments and settlement activity.

Platform Integrations and Marketplace

Our platform includes integrations with third-party applications and service providers to facilitate data exchange and interoperability across payroll, HR, benefits, and related systems.

We maintain a portfolio of pre-built integrations and partner relationships that enable clients to connect external services to our platforms.

Revenue associated with these integrations may include transactional, referral, or service-related fees, depending on the nature of the arrangement.

PRODUCT DEVELOPMENT

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We sell our solutions through both direct and partner models.

Prospective clients learn about Asure in a variety of ways, including advertising, website searches, sales calls, public relations, referral channels, direct marketing, and social media.

When prospective clients show an interest in Asure, they are connected with a sales representative, who works to close the sale, via Asure’s web site, phone, or a face-to-face meeting by discussing solutions that meet their needs.

Prospective clients learn about Asure in a variety of ways, including advertising, website and AI searches, sales calls, public relations, referral channels, direct marketing, and social media.

When prospective clients show an interest in Asure, they are connected with a sales representative, who works to close the sale, via Asure’s website, phone, or a face-to-face meeting by discussing solutions that meet their needs.

We track our marketing and sales activities to provide immediate insights into activities, leads and pipeline opportunities.

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Competitors in the HCM market tend to fluctuate and vary by product line.

However, Asure’s main competitors are ADP, Paychex, UKG, Paylocity, Paycor, Paycom, Ceridian, isolved, Gusto, and Time Simplicity.

However, Asure’s main competitors are ADP, Paychex, UKG, Paylocity, Paycom, Ceridian, isolved, and Gusto.

While Asure has the advantage of a flexible, easy to use, cloud-based SaaS-delivered solution that is affordable and has a proven deployment methodology, Asure faces several competitive challenges:

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In this highly relationship-based sales process, vendors with large, dispersed field-based sales teams who meet and consult with prospects have an advantage.

Vendors that approach the market in this manner include ADP, Paychex, Kronos, and Paylocity.

Vendors that approach the market in this manner include ADP, Paychex, UKG, and Paylocity.

• National payroll processors with loss-leader products.

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We deploy direct marketing programs to drive awareness, interest and revenue.

Marketing vehicles include our web site, organic and paid search, advertising, public relations, direct marketing, events, social media, content marketing, reputation management, and other digital marketing tactics.

Marketing vehicles include our website, organic and paid search, advertising, public relations, direct marketing, events, social media, content marketing, reputation management, and other digital marketing tactics.

Our marketing plan addresses growth and retention goals for key target audiences throughout the United States.

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Many of our solutions assist clients in complying with certain U.S.

laws and regulations that apply to them, particularly in the human resources and employment law areas such as wage payment laws, state payroll tax filing and reporting, employee onboarding, and compliance with the IRS rules governing employers including tax withholdings, payroll tax filing and the preparation of Form W-2.

laws and regulations that apply to them, particularly in the human resources and employment law areas such as wage payment laws, state payroll tax filing and reporting, employee onboarding, and compliance with the Internal Revenue Service (“IRS”) rules governing employers including tax withholdings, payroll tax filing and the preparation of Form W-2.

Our HCM solutions assist clients with managing their compliance with other laws, including helping to meet their obligations as a plan sponsor under COBRA;

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and provide compliant Consumer Health Care Plans, such as Health Savings Accounts and Health Reimbursement Accounts.

Our Tax Management Solutions also support bulk filing and processing of Employee Retention Tax Credits, which is legislation that is part of the CARES Act.

Recent legislation makes it possible that the government could make changes to or revoke the Employee Retention Tax Credit (“ERTC”) program prior to its scheduled expiration during 2024 and 2025, which may impact future cash collections.

We have registered Asure Software® as a federal trademark with the U.S.

Patent and Trademark Office.

Asure’s other core federally registered trademarks include Asure®, AsureForce®, AsureHCM® and Evolution®.

Asure’s other core federally registered trademarks include Asure®, AsureForce®, AsureHCM®, Evolution®, and Lathem®.

As of December 31, 2025, we had a total of 641 employees, 627 of which are full-time employees.

The headcount by department includes 107 in research and development, 238 in sales and marketing, 233 in customer service and technical support, and 57 in finance, human resources and administration.

The headcount by department includes 90 in research and development, 166 in sales and marketing, 265 in customer service and technical support, and 120 in administration and management.

We continually evaluate and adjust the size and composition of our workforce.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business