Bill.com Holdings, Inc. (BILL) stock experienced an increase of 29.05% in aftermarket following the announcement of second-quarter fiscal 2022 results. However, the last trading session closed at $170.28 with a decrease of 7.79%.
Second Quarter Fiscal 2022 Financial Results – Latest News by BILL
BILL announced second-quarter fiscal 2022 results on 3rd February 2022. The company reported revenue of about $156.5 million with an incline of 190%. Moreover, core revenue increased by 197% and reached $155.5 million. Not only this but the gross profit totaled $122.1 million and loss from operations came out to be $76.1 million. Last but not the least, the net loss reported was around $80.4 million.
Now what?
BILL is really delighted with the significant revenue growth in the second quarter, particularly organic core revenue growth of 85% year over year and Divvy spend management revenue growth of 188%. The stats show that the company’s revenue has increased year-over-year. In addition, the company has also noticed increased gross margin and continued to improve efficiencies during the quarter, resulting in a non-GAAP net loss that was lesser than planned.
Appointment of Germaine Cota by BILL – Worth it?
BILL stated on 24th January 2022 that Germaine Cota has been appointed as the Senior Vice President, Finance & Accounting. The company is happy to have Germaine join the Bill.com team and help them achieve the goal of making mergers easy for small businesses to connect and do business Officer. Not only this but Germaine’s technical expertise, track record of scaling high-performing teams, and leadership abilities will be invaluable to the company at this time of rapid expansion.
Experienced Brand-Builder – New Hirings
BILL reported on 2nd December 2021 that the company has hired Sarah Acton as the Chief marketing officer. Sarah most recently headed marketing and sales at Athos, where she promoted product acceptance among major professional leagues, premier collegiate teams, and critical Department of Defense programs. She has a lot of marketing expertise gained from establishing worldwide brands in both the corporate and consumer markets. Lastly, the company welcomes Sarah to Bill.com, where she will help the team to expand the marketing and branding initiatives.
