Posted on Wednesday, Feb 9th 2022
I have been impressed with how invoicing solutions provider Bill.com (NYSE:BILL) has been quietly scaling its operations. I rank Bill.com as
one of the top 25 cloud stocks to invest in 2022. Its recent result announcements have reaffirmed my faith in the company. Bill.com’s Financials
Bill.com recently announced its second-quarter financials. Revenue for the quarter grew 190% to $156.5 million, significantly ahead of estimates of $131.07 million. On an adjusted basis, it reported earnings of $0.00 per share, compared with a loss of $0.03 per share last year. The market was looking for a loss of $0.18 per share for the quarter.
By segment, subscription and transaction revenues grew 197% to $155.5 million.
Among key metrics, it reported a customer growth of 23.6% over the year to over 103,600. It processed $56.4 billion in total payment volume, up 63% over the year.
Bill.com’s Product Upgrades
Bill.com has been making several upgrades to its offerings to cater to the SMB segment. Last quarter, it introduced custom fields that can be added to reports and dashboards for Sage Intacct customers. These custom fields are especially useful to help track details and maintain compliance for certain sectors. For instance, non-profit organizations are required to keep track of their programs and donors within their accounting system, and these fields can be helpful with that tracking.
It also enhanced its workflow capabilities by allowing businesses to route approvals to individuals and groups using an expanded set of routing criteria – such as vendor, location, department, and general ledger (GL) account. The new criteria will give users more flexibility in creating and designing their workflows. It also introduced a dual control feature for approvals where businesses can now request a second approval for changes made to key actions, thus reducing the risk of intentional fraud or error.
To ensure that the system’s security is not compromised, Bill.com introduced Single Sign-On (SSO) capabilities to allow businesses to grant authorized users safe and secure access to their accounts. The capability has been integrated with various SSO identity providers such as G Suite, AuthO, Centrify, Microsoft Azure, and Okta.
It is also looking at expanding its payment options and recently introduced the ability for users to pay by card. Businesses can now pay their vendors with either a credit or a debit card – even if the vendor does not accept cards. The businesses will be able to earn credit card rewards and manage their cash flow better through this capability. These Pay By Card transactions also sync up with QuickBooks Online and Sage Intacct accounting software to help SMB organizations manage their accounting.
Its stock is currently trading at $236.21 with a market capitalization of $24.5 billion. It had fallen to a 52-week low of $128.00 in May last year. It hit a 52-week high of $348.49 in October last year.
Disclosure: All investors should make their own assessments based on their own research, informed interpretations, and risk appetite. This article expresses my own opinions based on my own research of product-market fit, channel execution, and other factors. My primary interest is in product strategy. While this may have bearing on stock movements, my writings tend to focus on long-term implications. The information presented is illustrative and educational, but should not be regarded as a complete analysis nor recommendation to buy or sell the securities mentioned herein. I am not a registered investment adviser and I am not receiving compensation for this article. This segment is a part in the series : Cloud Stocks . Smartsheet Acquiring Bootstrapped Startups to Drive Growth . Bootstrapped Unicorn Atlassian is Acquiring Capital Efficient Startups . Netflix Price Hike Ruffles Competition . How Will Carbon Black Differentiate? . 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