BILL Holdings reported strong financial results for fiscal year 2024, with total revenue increasing 22% year-over-year to $1.29 billion. Subscription and transaction fees grew 19% to $1.12 billion, while interest income on funds held for customers rose 47% to $167.4 million. The company significantly narrowed its net loss to $28.9 million from $223.7 million in the previous year.The company demonstrated solid operational metrics, with total payment volume rising 10% to $292.4 billion and total businesses using its solutions growing to 474,600. BILL's integrated platform processed 103.8 million transactions during the year, up 22% from the prior year. The company maintained a healthy gross margin of 81.8% while continuing to invest in product development and customer acquisition.Looking ahead, BILL executed strategic initiatives including a workforce reduction affecting 15% of employees to enhance profitability. The company also completed a $300 million share repurchase program and repurchased $982.7 million of its convertible notes. BILL ended the year with a strong balance sheet, including $985.9 million in cash and cash equivalents and $601.5 million in short-term investments.

BILL Holdings reported strong financial results for fiscal year 2024, with total revenue increasing 22% year-over-year to $1.29 billion. Subscription and transaction fees grew 19% to $1.12 billion, while interest income on funds held for customers rose 47% to $167.4 million. The company significantly narrowed its net loss to $28.9 million from $223.7 million in the previous year.The company demonstrated solid operational metrics, with total payment volume rising 10% to $292.4 billion and total businesses using its solutions growing to 474,600. BILL's integrated platform processed 103.8 million transactions during the year, up 22% from the prior year. The company maintained a healthy gross margin of 81.8% while continuing to invest in product development and customer acquisition.Looking ahead, BILL executed strategic initiatives including a workforce reduction affecting 15% of employees to enhance profitability. The company also completed a $300 million share repurchase program and repurchased $982.7 million of its convertible notes. BILL ended the year with a strong balance sheet, including $985.9 million in cash and cash equivalents and $601.5 million in short-term investments.