BTRS Holdings Inc. (BTRS) shares declined 1.64% in after-hours on Friday, January 21, 2022, and closed the weekly trading at $6.01. Even in the regular trading session of Friday, BTRS’s stock lost 4.23%. BTRS shares have fallen 63.24% over the last 12 months, and they have moved down 9.08% in the past week. Over the past three months, the stock has lost 37.33%, while over the past six months, it has declined 50.45%.
Let’s have a brief discussion about its recent news and developments.
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BTRS surpassed $1 billion in supplier invoices
On January 20, 2022, Billtrust (BTRS) surpassed $1 billion in supplier invoices delivered to accounts payable (AP) portals in 2021, its largest single-year total and a 58% increase over 2020. The dramatic rise is due to the increased adoption of Billtrust’s Business Payments Network (BPN), which began enabling invoice presentment to accounts payable (AP) portals in addition to its existing payment and remittance acceptance capabilities.
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BTRS new appointment
On January 18, 2022, Billtrust (BTRS), appointed Aimie Killeen Chief Legal Officer. She will be reporting to Founder and CEO Flint Lane and will lead the company’s legal, compliance, and regulatory functions.
Killeen is an experienced General Counsel with a demonstrated history of working in complex global businesses in the financial services, information technology, and services industries.
BTRS participation in the recent event
BTRS Holdings Inc. (BTRS)’s management team recently participated in Needham’s 24th Annual Virtual Growth Conference which was held on Monday, January 10, 2022.
BTRS closed its common stock exchange offer
On December 21, 2021, BTRS Holdings Inc. (BTRS), closed its previously announced exchange offer and consent solicitation relating to its outstanding warrants, each whole warrant exercisable for one share of Class 1 Common Stock, $0.0001 par value per share of the Company, at an exercise price of $11.50 per share. The Company issued 3,715,441 shares of Common Stock in exchange for the Warrants tendered in the Offer.
BTRS recent findings
On December 14, 2021, Billtrust (BTRS) released new findings from a proprietary in-depth research study illustrating that best-in-class AR organizations have 25% better customer service levels and 23% collections improvement versus the average AR department. In addition, best-in-class teams offer 20% more self-service capabilities and receive payments 15% faster than average.
BTRS latest financial results
On November 10, 2021, BTRS Holdings Inc. (BTRS), released financial results for its third quarter ended September 30, 2021.
Q3 2021 financial highlights
- BTRS reported total revenue of $41.4 million for the third quarter of 2021, compared to $38.3 million for the same period in 2020.
- Gross profit was $23.4 million in Q3 2021 compared to $20.2 million for the same period in 2020.
- It suffered a net loss of $11.2 million in Q3 2021 compared to $2.7 million for the same period in 2020.
Well, we have positive news but its stock still went down on Friday which is a bit strange. We can expect it to bounce back on Monday after the weekend.