ASURE SOFTWARE INC
ASUR · Services-Computer Integrated Systems Design · 28.7M shares · +8%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$1M (gross $5M, SBC $6M)
Reference price $9.09 · est. market cap ~$261M — last insider sale, 2026-03-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C54Small payroll/HCM SaaS with positive free cash flow but a net loss and a history of losses.
Strengths
- Positive free cash flow — FCF $21.4M (58th)
- Improving bottom line — net income +11.5% (57th)
Risks
- Net loss / history of losses — ROE -6.6%, ROA -2.5%; risk factors note a history of losses and possible capital needs
- Tight liquidity — current ratio 1.07 (37th)
- Acquisition-dependent (reseller buyouts) and competitive HCM market — qualitative (per 10-K)
Notable findings
- Material weakness• We have previously identified a material weakness in our internal control over financial reporting and may do so again, which may result in material misstatements of our financial statements; 1
- Customer concentration~35% of revenue from one customer/distributor — As of December 31, 2025, Asure had more than 100,000 clients, with approximately 35% being direct and the remaining clients being indirect through contracts with Reseller Partners
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $114M cash & investments
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-6.6%
Return on assets
-2.5%
ROIC
-2.5%
Revenue growth (QoQ)
17.9%
Debt / equity
0.3×
Net debt / EBITDA
-2.8×
Current ratio
1.1×
Free cash flow
$21M
EBITDA
$18M
Tangible book value
-$6M
Cash & investments
$114M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | Pence John F | Tax withheld | 628 | $9.66 |
| 2026-06-01 | Goldstein Eyal | Tax withheld | 879 | $9.66 |
| 2026-05-12 | GILL DANIEL M | Tax withheld | 4.6K | $8.58 |
| 2026-05-12 | GILL DANIEL M | Option exercise | 5.0K | $7.86 |
| 2026-05-11 | Pence John F | Option exercise | 60K | $7.86 |
| 2026-05-11 | Pence John F | Tax withheld | 56K | $8.88 |
| 2026-05-07 | Goepel Patrick | Option exercise | 60K | $7.86 |
| 2026-05-07 | Goepel Patrick | Tax withheld | 55K | $9.18 |
| 2026-05-07 | Goepel Patrick | Tax withheld | 75K | $9.18 |
| 2026-05-07 | Goepel Patrick | Option exercise | 90K | $6.74 |
| 2026-05-07 | ALLEN BEN F | Option exercise | 5.0K | $7.86 |
| 2026-05-07 | Reynolds Bjorn | Option exercise | 5.0K | $7.86 |
| 2026-05-07 | Reynolds Bjorn | Tax withheld | 4.3K | $9.18 |
| 2026-05-07 | Goldstein Eyal | Option exercise | 60K | $7.86 |
| 2026-05-07 | Goldstein Eyal | Tax withheld | 55K | $9.18 |
| 2026-05-01 | Pence John F | Tax withheld | 389 | $9.19 |
| 2026-05-01 | Goldstein Eyal | Tax withheld | 879 | $9.19 |
| 2026-04-01 | Goldstein Eyal | Tax withheld | 1.8K | $8.34 |
| 2026-04-01 | Pence John F | Tax withheld | 389 | $8.34 |
| 2026-04-01 | Pence John F | Tax withheld | 812 | $8.34 |
| 2026-04-01 | Pence John F | Tax withheld | 812 | $8.34 |
| 2026-04-01 | Goldstein Eyal | Tax withheld | 879 | $8.34 |
| 2026-04-01 | Goldstein Eyal | Tax withheld | 1.8K | $8.34 |
| 2026-03-11 | Goldstein Eyal | Sell | 20K | $9.09 |
| 2026-03-10 | Drew William Carl | Grant | 10K | — |
| 2026-03-10 | Reynolds Bjorn | Grant | 10K | — |
| 2026-03-10 | Oberwager Bradford Scovill | Grant | 10K | — |
| 2026-03-10 | Lee Grace G. | Grant | 10K | — |
| 2026-03-10 | GILL DANIEL M | Grant | 10K | — |
| 2026-03-10 | ALLEN BEN F | Grant | 10K | — |
| 2026-03-01 | Goldstein Eyal | Tax withheld | 544 | $9.14 |
| 2026-03-01 | Pence John F | Tax withheld | 389 | $9.14 |
| 2026-02-27 | Pence John F | Tax withheld | 5.7K | $7.76 |
| 2026-02-27 | Goepel Patrick | Grant | 120K | — |
| 2026-02-27 | Goldstein Eyal | Grant | 84K | — |
| 2026-02-27 | Goldstein Eyal | Tax withheld | 8.0K | $7.76 |
| 2026-02-27 | Pence John F | Grant | 60K | — |
| 2026-02-03 | Oberwager Bradford Scovill | Option exercise | 1.9K | $7.86 |
| 2026-02-03 | Oberwager Bradford Scovill | Tax withheld | 1.6K | $9.49 |
| 2026-01-02 | Goldstein Eyal | Tax withheld | 1.1K | $9.42 |
| 2026-01-02 | Pence John F | Tax withheld | 5.9K | $9.09 |
| 2026-01-02 | Pence John F | Tax withheld | 2.3K | $9.09 |
| 2026-01-02 | Pence John F | Tax withheld | 609 | $9.42 |
| 2026-01-02 | Pence John F | Tax withheld | 812 | $9.42 |
| 2026-01-02 | Pence John F | Tax withheld | 3.2K | $9.42 |
| 2026-01-02 | Goldstein Eyal | Tax withheld | 7.3K | $9.09 |
| 2026-01-02 | Goldstein Eyal | Tax withheld | 3.1K | $9.09 |
| 2026-01-02 | Goldstein Eyal | Tax withheld | 1.4K | $9.42 |
| 2026-01-02 | Goldstein Eyal | Tax withheld | 5.2K | $9.42 |
| 2026-01-01 | Goldstein Eyal | Grant | 56K | — |
| 2026-01-01 | Pence John F | Grant | 40K | — |
| 2026-01-01 | Goepel Patrick | Grant | 100K | — |
| 2025-11-10 | Pence John F | Tax withheld | 68K | $8.16 |
| 2025-11-10 | Pence John F | Option exercise | 75K | $6.95 |
| 2025-10-01 | Pence John F | Tax withheld | 1.3K | $8.03 |
| 2025-10-01 | Goldstein Eyal | Tax withheld | 1.5K | $8.03 |
| 2025-10-01 | Goldstein Eyal | Tax withheld | 1.8K | $8.03 |
| 2025-10-01 | Pence John F | Tax withheld | 892 | $8.03 |
| 2025-08-06 | Goepel Patrick | Buy | 5.2K | $8.16 |
| 2025-08-05 | Drew William Carl | Buy | 25K | $8.30 |
| 2025-07-01 | Goldstein Eyal | Tax withheld | 1.5K | $10.11 |
| 2025-07-01 | Goldstein Eyal | Tax withheld | 1.8K | $10.11 |
| 2025-07-01 | Pence John F | Tax withheld | 609 | $10.11 |
| 2025-07-01 | Pence John F | Tax withheld | 812 | $10.11 |
| 2025-06-27 | Goepel Patrick | Tax withheld | 118K | $9.87 |
| 2025-06-27 | Goepel Patrick | Option exercise | 150K | $6.43 |
| 2025-06-16 | Goldstein Eyal | Option exercise | 16K | $6.43 |
| 2025-06-16 | Goldstein Eyal | Tax withheld | 13K | $9.76 |
| 2025-05-28 | Reynolds Bjorn | Option exercise | 831 | $6.28 |
| 2025-05-28 | Reynolds Bjorn | Sell | 831 | $9.51 |
| 2025-05-21 | Lee Grace G. | Option exercise | 5.0K | $7.86 |
| 2025-05-21 | Lee Grace G. | Tax withheld | 4.1K | $9.65 |
| 2025-05-08 | ALLEN BEN F | Sell | 10K | $10.00 |
| 2025-05-08 | ALLEN BEN F | Option exercise | 10K | $7.17 |
| 2025-03-17 | Lee Grace G. | Sell | 7.5K | $9.51 |
| 2025-03-17 | Lee Grace G. | Option exercise | 10K | $7.17 |
| 2025-03-12 | Pence John F | Tax withheld | 2.3K | $9.69 |
| 2025-03-12 | Goldstein Eyal | Sell | 18K | $9.27 |
| 2025-03-12 | Goldstein Eyal | Option exercise | 18K | $6.43 |
| 2025-03-11 | Goldstein Eyal | Sell | 148 | $9.88 |
| 2025-03-11 | Goldstein Eyal | Grant | 38K | — |
| 2025-03-11 | Pence John F | Grant | 28K | — |
| 2025-03-11 | Goepel Patrick | Grant | 49K | — |
| 2025-03-11 | Goldstein Eyal | Option exercise | 26K | $6.43 |
| 2025-03-11 | Goldstein Eyal | Sell | 26K | $9.53 |
| 2025-03-06 | Pence John F | Tax withheld | 2.3K | $9.69 |
| 2025-03-06 | Pence John F | Grant | 28K | — |
| 2025-03-06 | Goldstein Eyal | Grant | 38K | — |
| 2025-03-06 | Goepel Patrick | Grant | 49K | — |
| 2025-03-03 | Lee Grace G. | Grant | 7.0K | — |
| 2025-03-03 | Drew William Carl | Grant | 7.0K | — |
| 2025-03-03 | ALLEN BEN F | Grant | 7.0K | — |
| 2025-03-03 | Reynolds Bjorn | Grant | 7.0K | — |
| 2025-03-03 | Oberwager Bradford Scovill | Grant | 7.0K | — |
| 2025-03-03 | GILL DANIEL M | Grant | 7.0K | — |
| 2025-01-01 | Goldstein Eyal | Grant | 56K | — |
| 2025-01-01 | Pence John F | Grant | 40K | — |
| 2025-01-01 | Goepel Patrick | Grant | 80K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-13 | Shareholder voteExhibits | filing ↗ |
| 2026-04-30 | ResultsExhibits | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2025-10-30 | ResultsExhibits | filing ↗ |
| 2025-07-31 | ResultsExhibits | filing ↗ |
| 2025-07-01 | Material agreementAcquisition/dispositionDebt obligationExhibits | filing ↗ |
| 2025-06-02 | Material agreement3.03Shareholder voteExhibits | filing ↗ |
| 2025-05-01 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-13 | 2026-05-12 | 0001628280-26-034245 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001628280-26-028869 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0001628280-26-028860 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001628280-26-012270 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001628280-26-012293 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001628280-25-047519 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001628280-25-047524 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0000884144-25-000090 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0000884144-25-000088 ↗ |
| 8-K | 2025-07-01 | 2025-06-30 | 0000884144-25-000078 ↗ |
| 8-K | 2025-06-02 | 2025-06-02 | 0000884144-25-000072 ↗ |
| 8-K | 2025-05-01 | 2025-05-01 | 0000884144-25-000063 ↗ |