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Mar 31, 2024
BILL Q3 2024 Earnings Report
BILL delivered strong profitable growth, continued rapid innovation, and executed with persistent rigor.
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.
BILL
BILL
BILL Revenue by Segment
Revenue by Segment
Sub. & Trans. Fees Revenue
CapyFin.comFloat Revenue
CapyFin.com 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