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Sep 30, 2023
BILL Q1 2024 Earnings Report
BILL reported strong Q1 2024 results, driven by a 33% year-over-year increase in total revenue and expanded non-GAAP profitability.
Key Takeaways
BILL announced strong first quarter results with total revenue increasing by 33% year-over-year to $305.0 million. The company launched its integrated financial operations platform and saw non-GAAP profitability expand.
Total revenue increased 33% year-over-year to $305.0 million.
Core revenue, which consists of subscription and transaction fees, increased 24% year-over-year.
The company launched its integrated financial operations platform.
Served 471,200 businesses using our solutions as of the end of the first quarter.
BILL
BILL
BILL Revenue by Segment
Revenue by Segment
Sub. & Trans. Fees Revenue
CapyFin.comFloat Revenue
CapyFin.com Forward Guidance
BILL is providing the following guidance for the fiscal second quarter ending December 31, 2023 and the full fiscal year ending June 30, 2024. Q2 FY24 Guidance FY24 Guidance $293 - $303 $1,205 - $1,245 13% - 17% 14% - 18% $42 - $52 $195 - $235 $0.35 - $0.44 $1.64 - $1.97
Positive Outlook
- Q2 FY24 Total revenue (millions): $293 - $303
- Q2 FY24 Year-over-year total revenue growth: 13% - 17%
- Q2 FY24 Non-GAAP net income (millions): $42 - $52
- Q2 FY24 Non-GAAP net income per diluted share: $0.35 - $0.44
- FY24 Total revenue (millions): $1,205 - $1,245
Challenges Ahead
- FY24 Year-over-year total revenue growth: 14% - 18%
- FY24 Non-GAAP net income (millions): $195 - $235
- FY24 Non-GAAP net income per diluted share: $1.64 - $1.97
- Macroeconomic factors, including changes in interest rates and inflation
- Volatile market environments
Revenue & Expenses
Visualization of income flow from segment revenue to net income