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Mar 31, 2022
BILL Q3 2022 Earnings Report
Bill.com's Q3 fiscal year 2022 financial results were reported, demonstrating significant revenue growth and exceeding bottom-line expectations.
Key Takeaways
Bill.com reported a strong third quarter, driven by robust demand for its solutions. Total revenue increased by 179% year-over-year to $166.9 million, and core revenue grew by 182% year-over-year. The company's revenue outperformance and disciplined execution led to a better-than-expected non-GAAP net loss.
Total revenue was $166.9 million, up 179% year-over-year.
Core revenue, consisting of subscription and transaction fees, was $165.5 million, up 182% year-over-year.
Organic core revenue was $102.1 million, up 74% year-over-year, excluding Divvy and Invoice2go revenue.
Bill.com served 146,600 customers, processing $55.1 billion in total payment volume, up 57% year-over-year.
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BILL Revenue by Segment
Revenue by Segment
Sub. & Trans. Fees Revenue
CapyFin.com Forward Guidance
Bill.com provided guidance for the fiscal fourth quarter and full fiscal year ending June 30, 2022.
Positive Outlook
- Q4 FY22 Total revenue (millions): $182.3 – $183.3
- Q4 FY22 Year-over-year total revenue growth: 133% – 134%
- FY22 Total revenue (millions): $624.0 – $625.0
- FY22 Year-over-year total revenue growth: 162% – 162%
- The company expects continued growth in revenue and customer base.
Challenges Ahead
- Q4 FY22 Non-GAAP net loss (millions): ($14.9) – ($13.9)
- Q4 FY22 Non-GAAP net loss per share: ($0.14) – ($0.13)
- FY22 Non-GAAP net loss (millions): ($35.9) – ($34.9)
- FY22 Non-GAAP net loss per share: ($0.35) – ($0.34)
- The company anticipates a non-GAAP net loss for the upcoming quarter and full fiscal year.