BILL - Cloud-Based Back Office Software for Small to Medium Organizations
BILL reported FQ3 2022 on May 5.
https://seekingalpha.com/pr/18781406?source=content_type%3Ar…
https://seekingalpha.com/article/4507675-bill-com-holdings-i…
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Total revenue was $166.9 million, an increase of 179% from the third quarter of fiscal 2021. ATTA BOY
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Core revenue, which consists of subscription and transaction fees, was $165.5 million, an increase of 182% year-over-year. Organic core revenue was $102.1 million, up 74% year-over-year, and excluded Divvy and Invoice2go revenue of $63.4 million. ATTA BOY
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Subscription fees were $52.2 million, up 78% year-over-year. Organic subscription fees were $43.2 million, up 48% year-over-year, and excluded Divvy and Invoice2go fees of approximately $9.0 million. ATTA BOY!
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Transaction fees were $113.3 million, up 286% year-over year. Organic transaction fees were $58.9 million, up 101% year-over-year, and excluded Divvy and Invoice2go fees of $54.4 million. ATTA BOY
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Non-GAAP gross profit was $141.1 million, representing a 84.6% non-GAAP gross margin, compared to $46.0 million, or a 76.9% non-GAAP gross margin in the third quarter of fiscal 2021. ATTA BOY!
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Non-GAAP loss from operations was $5.7 million, compared to a non-GAAP loss from operations of $2.1 million in the third quarter of fiscal 2021. OH POOP!
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Non-GAAP net loss was $8.7 million, or ($0.08) per share, basic and diluted, compared to non-GAAP net loss of $1.7 million, or ($0.02) per share, basic and diluted, in the third quarter of fiscal 2021. OH POOP!
Note: Some investors untrained in the ATTA BOY/OH POOP Rating Method might suggest double taxation here; however, system rules and reasoning are very precise on this issue.
After Report Market Sentiment: Bill.com stock plunges 25% as Q3 net loss ‘much lower than we expected’. OH POOP!
Guidance:
Q4 FY22
- The company is guiding for FQ4 Revenue Growth of 133% to 134% Y/Y. Since I anticipate they will BEAT this by their usual average of somewhere around $15M
Revenue Growth should come in with a crowd pleasing 150% or slightly better. Perhaps more depending on DIVVY. ATTA BOY!
From the CC:
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The powerful combination of our platform and go-to-market ecosystem delivered more than 11,000 net new Bill.com organic customers in the third quarter. ATTA BOY!
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During the quarter, we reorganized fully integrating the Divvy and Invoice2go employees into the Bill.com organization. ATTA BOY!
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We ended Q3 with 18,100 spending businesses using our Divvy spend management solution, representing growth of 2,600 net new adds in the quarter. This is more than double the total number of spending businesses from a year ago when we announced the Divvy acquisition. ATTA BOY!
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The slight decline in Invoice2go subscribers was due to the continued implementation of Bill.com’s more rigorous onboarding flows that we discussed on our last call. OH POOP!
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BILL ER SCORE: ATTA BOYS 9/OH POOPS 4
List and Ranking: Nice #1 Edging out ZI on PO-Tential. Note: ZI perhaps has more stability in the long run but who cares.
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All the Best,