Bill registered what executives call “meaningful” non-GAAP profitability of $194 million for the recently ended year, compared to a non-GAAP loss of $24.3 million for fiscal 2023. Its GAAP loss was $15.9 million for fiscal 2023, a sharp drop from $84.9 million the prior year.
Bill reported revenue of $1.1 billion for the most recently ended year, a 65.1-percent increase from slightly less than $642,000 for Fiscal 2022.
The company also noted the number of accounting firms in its channel grew to 7,000 from 6,000 year-over-year.
CFO John Rettig said during In the company’s recent earning webcast, standalone subscription revenue grew to $57.8 million, an increase of 25 year-over-year, driven both by an expanding base and a price increase in the direct and accounting channels.
Rettig did not disclose the size of the increases.
CEO Rene Lacerte noted Bill has a beta version of invoice financing in the market. He said testing will be made available to more businesses next year, but provided no additional details.
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