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Sep 30, 2022
BILL Q1 2023 Earnings Report
BILL's Q1 2023 financial results were reported, showing significant revenue growth and achieving non-GAAP profitability.
Key Takeaways
BILL reported strong Q1 2023 financial results, with total revenue increasing by 94% year-over-year to $229.9 million and core revenue growing by 83% year-over-year. The company achieved non-GAAP profitability and added a record number of new customers during the quarter.
Total revenue increased 94% year-over-year to $229.9 million.
Core revenue, consisting of subscription and transaction fees, increased 83% year-over-year to $214.6 million.
The company served 419,800 businesses using its solutions.
Processed $64.9 billion in total payment volume, an increase of 34% year-over-year.
BILL
BILL
BILL Revenue by Segment
Revenue by Segment
Sub. & Trans. Fees Revenue
CapyFin.com Forward Guidance
BILL provided guidance for the fiscal second quarter ending December 31, 2022 and the full fiscal year ending June 30, 2023.
Positive Outlook
- Q2 FY23 Total revenue is expected to be between $241.5 million and $244.5 million.
- Q2 FY23 Non-GAAP net income is expected to be between $14.5 million and $17.0 million.
- Q2 FY23 Non-GAAP net income per diluted share is expected to be between $0.12 and $0.14.
- FY23 Total revenue is expected to be between $994.0 million and $1,007.0 million.
- FY23 Non-GAAP net income is expected to be between $57.5 million and $70.0 million.
Challenges Ahead
- Year-over-year total revenue growth for Q2 FY23 is expected to be between 54% and 56%.
- Year-over-year total revenue growth for FY23 is expected to be between 55% and 57%.
- FY23 Non-GAAP net income per diluted share is expected to be between $0.48 and $0.59.
- Actual results may differ materially due to various risks and uncertainties.
- BILL has not provided a reconciliation of non-GAAP net loss or non-GAAP net loss per share guidance measures to the most directly comparable GAAP measures because certain items excluded from GAAP cannot be reasonably calculated or predicted at this time.