We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bill.com (BILL) Q1 Earnings Beat Estimates, Revenues Up Y/Y
Read MoreHide Full Article
Bill.com (BILL - Free Report) reported first-quarter fiscal 2023 earnings of 14 cents per share, beating the Zacks Consensus Estimate of 6 cents. In the year-ago quarter, the company incurred a loss of 7 cents.
Revenues of $229.9 million increased 94% on a year-over-year basis and surpassed the consensus mark by 9.35%. The top line was driven by 83% year-over-year growth in Bill.com’s core revenues.
Quarter in Details
In the fiscal first quarter, core revenues, which consist of subscription and transaction fees, were $214.6 million.
Bill.com reported subscription fees of $58.1 million, which was up 57% year over year. The subscription fees include $49.3 million from the Bill standalone platform, which increased 45% year over year.
Transaction fees were reported at $156.5 million, up 94% from the year-ago period. The transaction fees included Bill standalone platform fees of $76.3, up 75% and Divvy spend management solution’s fees of $78 million, which increased 113%.
Bill.com Holdings, Inc. Price, Consensus and EPS Surprise
In the quarter under review, non-GAAP gross profit was $197.2 million, which grew 99.4% year over year and represented a gross margin of 85.8%, expanding 220 basis points.
In the first quarter of fiscal 2023, adjusted research and development expenses of $53.764 million expanded 74.9% year over year, adjusted sales and marketing expenses of $88.441 million surged 95.1% while adjusted general administrative expenses jumped 42.9% to $45.8 million.
Non-GAAP loss from operations was $9.1 million compared with a loss of $9.2 million in the year-ago quarter.
Balance Sheet & Cash Flow statement
As of Sep 30, 2022, cash and cash equivalent and short-term investments were $2.6 billion compared with $2.7 billion as of Jun 30, 2022.
Cash flow from operations was $18.152 million in the fiscal first quarter against cash outflow of $10.47 million in the previous quarter.
Guidance
For the second quarter of fiscal 2023, Bill.com expects revenues to be between $241.5 million and $244.5 million, suggesting year-over-year growth of 54-56%. Non-GAAP net income per share is expected to be between 12 cents and 14 cents.
For the full year of fiscal 2023, Bill.com expects revenues to be between $994 million and $1.007 billion, implying year-over-year growth of 55-57%. Non-GAAP net income per share is expected to be between 48 cents and 59 cents.
Zacks Rank & Stocks to Consider
Bill.com currently has a Zacks Rank #3 (Hold).
Its shares have tumbled 53.4% compared with the Zacks Computer and Technology sector’s decline of 37.7% in the year-to-date period.
Here are some better-ranked stocks worth considering in the broader sector.
ASUR’s shares have lost 15.1% in the year-to-date period compared with the Zacks Internet - Delivery Services industry’s decline of 13.5%. ASUR is scheduled to report third-quarter 2022 results on Nov 7.
Tencent Music Entertainment Group (TME - Free Report) is also a Zacks Rank #2 stock. The company is set to report third-quarter 2022 earnings on Nov 15.
TME shares have lost 44.7% in the year-to-date period compared with the Zacks Internet - Content industry’s decline of 42.1%.
ANGI’s shares have slumped 77.7% in the year-to-date period compared with the Zacks Internet - Content industry’s decline of 42%. ANGI is scheduled to report third-quarter 2022 results on Nov 8
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bill.com (BILL) Q1 Earnings Beat Estimates, Revenues Up Y/Y
Bill.com (BILL - Free Report) reported first-quarter fiscal 2023 earnings of 14 cents per share, beating the Zacks Consensus Estimate of 6 cents. In the year-ago quarter, the company incurred a loss of 7 cents.
Revenues of $229.9 million increased 94% on a year-over-year basis and surpassed the consensus mark by 9.35%. The top line was driven by 83% year-over-year growth in Bill.com’s core revenues.
Quarter in Details
In the fiscal first quarter, core revenues, which consist of subscription and transaction fees, were $214.6 million.
Bill.com reported subscription fees of $58.1 million, which was up 57% year over year. The subscription fees include $49.3 million from the Bill standalone platform, which increased 45% year over year.
Transaction fees were reported at $156.5 million, up 94% from the year-ago period. The transaction fees included Bill standalone platform fees of $76.3, up 75% and Divvy spend management solution’s fees of $78 million, which increased 113%.
Bill.com Holdings, Inc. Price, Consensus and EPS Surprise
Bill.com Holdings, Inc. price-consensus-eps-surprise-chart | Bill.com Holdings, Inc. Quote
In the quarter under review, non-GAAP gross profit was $197.2 million, which grew 99.4% year over year and represented a gross margin of 85.8%, expanding 220 basis points.
In the first quarter of fiscal 2023, adjusted research and development expenses of $53.764 million expanded 74.9% year over year, adjusted sales and marketing expenses of $88.441 million surged 95.1% while adjusted general administrative expenses jumped 42.9% to $45.8 million.
Non-GAAP loss from operations was $9.1 million compared with a loss of $9.2 million in the year-ago quarter.
Balance Sheet & Cash Flow statement
As of Sep 30, 2022, cash and cash equivalent and short-term investments were $2.6 billion compared with $2.7 billion as of Jun 30, 2022.
Cash flow from operations was $18.152 million in the fiscal first quarter against cash outflow of $10.47 million in the previous quarter.
Guidance
For the second quarter of fiscal 2023, Bill.com expects revenues to be between $241.5 million and $244.5 million, suggesting year-over-year growth of 54-56%. Non-GAAP net income per share is expected to be between 12 cents and 14 cents.
For the full year of fiscal 2023, Bill.com expects revenues to be between $994 million and $1.007 billion, implying year-over-year growth of 55-57%. Non-GAAP net income per share is expected to be between 48 cents and 59 cents.
Zacks Rank & Stocks to Consider
Bill.com currently has a Zacks Rank #3 (Hold).
Its shares have tumbled 53.4% compared with the Zacks Computer and Technology sector’s decline of 37.7% in the year-to-date period.
Here are some better-ranked stocks worth considering in the broader sector.
Asure Software (ASUR - Free Report) carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ASUR’s shares have lost 15.1% in the year-to-date period compared with the Zacks Internet - Delivery Services industry’s decline of 13.5%. ASUR is scheduled to report third-quarter 2022 results on Nov 7.
Tencent Music Entertainment Group (TME - Free Report) is also a Zacks Rank #2 stock. The company is set to report third-quarter 2022 earnings on Nov 15.
TME shares have lost 44.7% in the year-to-date period compared with the Zacks Internet - Content industry’s decline of 42.1%.
Angi (ANGI - Free Report) carries a Zacks Rank #2.
ANGI’s shares have slumped 77.7% in the year-to-date period compared with the Zacks Internet - Content industry’s decline of 42%. ANGI is scheduled to report third-quarter 2022 results on Nov 8