Bill.com Holdings Inc. BILL,
Shares were up more than 10% late Thursday after the software company reported above-expected fourth-quarter revenue, even as losses were larger. Bill.com said it lost $41.9 million, or 48 cents per share, in the quarter, compared to a loss of $9.5 million or 13 cents per share in the same quarter a year ago. Adjusted for one-off items, the company lost 7 cents per share. Revenue rose 86% to $78.3 million, the company said. The FactSet consensus called for a loss of 4 cents a share on $62 million in revenue. “Our strategic initiatives have led to strong adoption of our platform and have prepared us well for future opportunities,” Founder and Chief Executive Rene Lacerte said in a statement. “We are building the one-stop-shop platform for (small and medium-sized businesses) to manage all their financial operations and (business-to-business) expenses.” The stock ended the regular trading day with a loss of 0.2%.