BILL Q3 2024 Earnings Report
Key Takeaways
BILL reported strong financial results for Q3 2024, with total revenue increasing 19% year-over-year to $323.0 million and non-GAAP operating income increasing 68% year-over-year. More than 450,000 small businesses used BILL's solutions during the quarter.
Total revenue was $323.0 million, an increase of 19% year-over-year.
Core revenue, which consists of subscription and transaction fees, was $281.3 million, an increase of 17% year-over-year.
Served 464,900 businesses using our solutions as of the end of the third quarter.
Processed $71 billion in total payment volume in the third quarter, an increase of 10% year-over-year.
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BILL Revenue by Segment
Forward Guidance
BILL provides guidance for the fiscal fourth quarter ending June 30, 2024, and the full fiscal year ending June 30, 2024.
Positive Outlook
- Q4 FY24 Total revenue is expected to be between $320 million and $330 million.
- FY24 Total revenue is expected to be between $1,267 million and $1,277 million.
- Q4 FY24 Year-over-year total revenue growth is expected to be between 8% and 11%.
- FY24 Year-over-year total revenue growth is expected to be between 20% and 21%.
- Q4 FY24 Non-GAAP operating income is expected to be between $40 million and $50 million.
Challenges Ahead
- Q4 FY24 Non-GAAP net income is expected to be between $46.4 million and $54.4 million.
- FY24 Non-GAAP operating income is expected to be between $176 million and $186 million.
- FY24 Non-GAAP net income is expected to be between $227 million and $235 million.
- Q4 FY24 Non-GAAP net income per diluted share is expected to be between $0.41 and $0.49.
- FY24 Non-GAAP net income per diluted share is expected to be between $1.96 and $2.03.
Revenue & Expenses
Visualization of income flow from segment revenue to net income