The following is a summary of the BILL Holdings, Inc. (BILL) Q3 2024 Earnings Call Transcript:
Financial Performance:
Total Q3 2024 revenue increased by 19% YoY to $323 million.
Non-GAAP operating income saw a 68% YoY rise.
An 87% non-GAAP gross profit margin was achieved.
Core revenue that includes subscription and transaction revenue was up 17% YoY to $281 million.
Spend & Expense revenue rose 29% YoY.
The company reported a 19% YoY increase in non-GAAP Gross profit in Q3, reaching $281 million.
Revenue expectations for fiscal 2024 include a float revenue of $165 million.
Non-GAAP operating income for fiscal 2024 is forecasted to range from $176 million to $186 million.
BILL expects non-GAAP net income for fiscal 2024 to be between $227 million and $235 million.
Stock-based compensation expenses are projected to be around $255 million, with capital expenditures expected to be approximately $23 million for fiscal 2024.
Business Progress:
1,800 new spending businesses were added to BILL's portfolio in Q3.
The payment volume of Spend & Expense card increased by 29% YoY to $4.4 billion.
Customer acquisition remained strong, adding 4,100 net new customers for BILL stand-alone solutions in the Q3.
Over $1 trillion of SMB payments have been processed since fiscal 2018.
The company has launched new platform capabilities, including cash flow insight and forecasting, and released a new mobile app for BILL AP and AR.
They have partnered with Xero to improve efficiency in bill payments.
BILL is broadening its ecosystem to accommodate more software platforms like Xero.
BILL is focusing on serving slightly larger businesses, investing in accounting firm relationships and enhancing its integrated mobile app to boost adoption.
The company has plans for Q4 monetisation improvements and investments in AI technology for product offerings.
Keeping in consideration factors like inflation and interest rates to give small businesses confidence to expand.
More details: BILL Holdings IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.