Bill.com Holdings, Inc. (NYSE:BILL) shares rose Friday trading after the company reported better-than-expected Q4 sales and issued strong sales guidance. Various analysts raised their price targets on the stock.
The company, a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced fourth-quarter revenue of $78.3 million, an increase of 86% from the fourth quarter of fiscal 2020.
Gross profit was $58.0 million, representing a 74.1% gross margin, compared to $32.0 million, or a 76.0% gross margin, in the fourth quarter of fiscal 2020. Net loss was $41.9 million, or ($0.48) per share, basic and diluted, compared to net loss of $9.5 million, or ($0.13) per share, basic and diluted, in the fourth quarter of fiscal 2020
“We delivered record growth in fiscal 2021 as we helped SMBs across the country automate their financial operations and make billions of dollars in payments,” said CFO René Lacerte.
“Our strategic initiatives drove strong adoption of our platform and set us up well for future opportunities. We expanded our e-payment offerings to make it easy for businesses to get paid faster, extended our reach with new strategic partners, and entered the spend management space with our acquisition of Divvy. We are building the one-stop shop platform for SMBs to manage all their financial operations and B2B spend.”
BILL shares vaulted $56.53, or 25.8%, to $275.58.