Bill.com (NYSE: BILL) found its shares soaring Friday, a day after financial results for the second fiscal quarter ended December 31, 2021.
Said CEO Rene Lacerte, "We continued to see strong growth across our business in the second quarter and delivered accelerated revenue growth at a meaningful scale.
"During the quarter, we helped hundreds of thousands of businesses transform their financial back office and transact more than $55 billion in payments. We remain focused on creating value for small businesses and are delivering product innovations at an increasing cadence."
Total revenue was $156.5 million, an increase of 190% from the second quarter of fiscal 2021.
Subscription fees were $49.2 million, up 85% year-over-year. Organic subscription fees were $40.3 million, up 51% year-over-year, and excluded Divvy and Invoice2go fees of approximately $8.9 million.
Gross profit was $122.1 million, representing a 78.0% gross margin, compared to $40.1 million, or a 74.1% gross margin, in the second quarter of fiscal 2021. Non-GAAP gross profit was $133.5 million, representing a 85.3% non-GAAP gross margin, compared to $41.4 million, or a 76.6% non-GAAP gross margin in the second quarter of fiscal 2021.
Net loss was $80.4 million, or ($0.78) per share, basic and diluted, compared to net loss of $17.2 million, or ($0.21) per share, basic and diluted, in the second quarter of fiscal 2021.
Non-GAAP net loss was $220,000, or ($0.00) per share, basic and diluted, compared to non-GAAP net loss of $1.1 million, or ($0.01) per share, basic and diluted, in the second quarter of fiscal 2021.
BILL opened trading Friday up $40.49, or 23.8%, to $210.71.
