The company lost $4.9 million in the most recently ended period, up from $825,000 a year earlier. Revenue was $31.1 million, compared to $22.4 million in last year's corresponding period.
Paylocity spend just over $4 million on research and development, more than double the just under $2 million a year ago.

General and administrative expenses hit $7.4 million, a rise of 90.4 percent from $3.9 million in the year earlier period. Sales and marketing expenses were $9.1 million in the September quarter, an increase of 75 percent from $5.2 million.

CEO Steve Beauchamp noted the company is increasing its marketing efforts and the company has increased the size of its sales force. "At this time, we have at least seeded every major market space," he said during a recent earnings webcast He said that the company next spring will be "looking to back fill those market."

The company this month also introduced a new portal that gives employees increased remote access as part of its mobile-first design strategy. Beauchamp says that includes the ability to view and manage schedules, request vacation and manage time sheets. The company also released a new analytical tool that provides dashboard and a new onboarding mobile.

The company generated about 25 percent of its business from channel leads. However, while Paylocity listed its referrers as including 401(k) advisors, benefits administrators, insurance brokers, third-party administrators and HR consultants, and does not mention accounting professionals in its financial reports.