Bill.com Holdings, Inc. (BILL) is up 14.59% in the pre-market trading session at the price of $251.00 after the release of the fourth quarter and fiscal year 2021 financial results.
BILL Announced Fourth Quarter and Fiscal Year 2021 Financial Results
On 26th August 2021, BILL published financial results for the fourth quarter and fiscal year ended 30th June 2021. It is a leading provider of cloud-based software. This software simplifies, digitizes, and automates complex back-office financial operations for small and midsize enterprises.
CEO of BILL, René Lacerte, remarked that they delivered record growth in fiscal 2021. They helped SMBs automate their financial operations and make billions of dollars in payments all across the country. Their strategic initiatives propelled strong adoption of their platform and set them up for future opportunities. They have progressed their e-payment offerings to make it easy for businesses to get paid faster. Moreover, they have extended their reach with new strategic partners and entered the spend management space with their acquisition of Divvy. They are building the one-stop-shop platform for SMBs to handle all their financial operations, he added.
Fourth Quarter 2021 Earnings Report
BILL reported total revenue of $78.3 million for the fourth quarter of 2021. It represents an increase of 86% from the same quarter of fiscal 2020.Gross profit was $58.0 million for the fourth quarter of 2020. It represents a 74.1% gross margin, compared to $32.0 million, or a 76.0% gross margin, in the same quarter of 2020. The company reported a net loss of $41.9 million or $0.48 per share, basic and diluted. Net loss, basic and diluted, was $9.5 million or $0.13 per share in the fourth quarter of fiscal 2020. Operating loss was $70.7 million for the fourth quarter of 2021. The loss from operations was $10.3 million in the fourth quarter of fiscal 2020.
Fiscal Year 2021 Financial Results
BILL reported total revenue of $238.3 million for the fiscal year 2021. It is an increase of 51% from the fiscal year 2020. GAAP gross profit was $176.5 million this fiscal year, a 74.1% gross margin. Gross profit was $118.5 million or a 75.2% gross margin in the fiscal year 2020. Net loss, basic and diluted, for fiscal 2021 was $98.7 million or $1.19 per share. A net loss of $31.1 million, or $0.70 per basic and diluted share, was reported in the previous fiscal year. Operating loss was $114.0 million, compared to an operating loss of $34.2 million in the prior fiscal year.
