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Dec 31, 2022
BILL Q2 2023 Earnings Report
Delivered strong results with non-GAAP profitable growth, executing strategy to be the essential financial operations platform for SMBs.
Key Takeaways
BILL reported a 66% year-over-year increase in total revenue, reaching $260.0 million, and achieved non-GAAP profitable growth in Q2 2023. The company served over 400,000 businesses, providing them with financial automation solutions.
Total revenue increased by 66% year-over-year, reaching $260.0 million.
Core revenue, consisting of subscription and transaction fees, increased by 49% year-over-year to $231.1 million.
Non-GAAP income from operations was $30.8 million, compared to $3.4 million in the second quarter of fiscal 2022.
Served 435,800 businesses using BILL's solutions.
BILL
BILL
BILL Revenue by Segment
Revenue by Segment
Sub. & Trans. Fees Revenue
CapyFin.comFloat Revenue
CapyFin.com Forward Guidance
BILL anticipates total revenue between $245 million and $248 million for Q3 2023, representing a year-over-year growth of 47% to 49%. They also expect non-GAAP net income between $26.5 million and $29.5 million, with a non-GAAP net income per share between $0.22 and $0.25.
Positive Outlook
- Total revenue is expected to be between $245 million and $248 million.
- Year-over-year total revenue growth is projected to be 47% - 49%.
- Non-GAAP net income is anticipated to be between $26.5 million and $29.5 million.
- Non-GAAP net income per share is expected to be $0.22 - $0.25.
- Full fiscal year revenue expected between $999 million and $1,007 million.
Challenges Ahead
- Guidance is forward-looking and actual results may differ materially.
- Macroeconomic factors, including interest rate, inflationary and recessionary environments, may impact results.
- The ongoing war in Ukraine and the coronavirus pandemic could affect performance.
- Ability to attract new customers and develop new products is subject to risks.
- Increased competition or new entrants in the marketplace may pose challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income