HomeFinancial MarketsWhy Bill.com Holdings Inc (BILL) stock popped up in the after-market on...

Why Bill.com Holdings Inc (BILL) stock popped up in the after-market on Thursday?

Bill.com Holdings Inc (BILL) stock surged 14.33% in the after-hours on Thursday, May 6, 2021, to close the day at $149.00 per share. Earlier BILL shares lost 6.49% in the morning session and closed at $130.33 per share.

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BILL shares have gained 97.77% over the last 12 months, and they have moved down 16.00% in the past week. Over the past three months, the stock has lost 6.82%, while over the past six months, it has soared 30.67%.


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Recent financial results

On May 6, 2021, Bill.com released its financial results for the third fiscal quarter ended March 31, 2021.

Q3 2021 financial highlights

  • com earned a total revenue of $59.7 million, an increase of 45% compared to the third quarter of fiscal 2020.
  • Q3 2021, GAAP gross profit was $44.3 million, compared to $31.1 million in the third quarter of fiscal 2020.
  • Q2 2021 gross profit margin was 74.2% compared to 75.5% gross margin in Q3 2020.
  • Non-GAAP gross profit was $46.0 million in the reported quarter compared to $32.1 million in Q3 2020.
  • com suffered an operating loss of $15.3 million in Q3 2021, compared to a loss from operations of $9.7 million in the third quarter of fiscal 2020.
  • In Q3 2021, the (non-GAAP) loss from operations was $2.1 million, compared to a (non-GAAP) loss from operations of $3.8 million in the third quarter of fiscal 2020.
  • In Q3 2021, net loss was $26.7 million, or $0.32 per share, basic and diluted, compared to a net loss of $8.3 million, or $0.11 per share, basic and diluted, in Q3 2020.
  • Non-GAAP net loss was $1.7 million, or $0.02 per share, basic and diluted in Q3 2021, compared to a non-GAAP net loss of $2.4 million, or $0.03 per share, basic and diluted, in Q3 2020.
  • On March 31, 2021, Bill.com had cash, cash equivalents, and short-term investments of $1.7 billion.

Q4 2021 financial guidance

For Q4 2021, Bill.com is expecting

  • Total revenue to be between $60.9 million to $61.9 million
  • (Non-GAAP) net loss per share of $0.05 to $0.04. 

Bill.com&squaresupporting small and midsize businesses

On May 3, 2021, Bill.comand Square partnered with the San Francisco Chamber of Commerce, the Black Chambers of Atlanta, and the regional economic development organization Greater St. Louis, Inc., to support small and midsize businesses (SMBs) struggling in the second year of the global pandemic.

Bill.com and Square will be providing special promotions for (SMBs) for webinar registrations.Bill.com is offering free 90-day use of the platform and Square has waived off processing fees for new sellers on their first $1,000 in card processing when they sign up to become customers through the webinar.

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Conclusion

The improved Q3 financial results were the reason behind its surging in the after-market on Thursday and we can expect it to perform well on the last trading day of the week.

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