Bill.com Stock Plunges After Q3 Results, Provides Q4 Outlook - BILL Holdings (NYSE:BILL)

Bill.com Holdings Inc BILL reported third-quarter revenue growth of 179% year-over-year to $166.9 million, beating the consensus of $157.92 million.
Core revenue, consisting of subscription and transaction fees, was $165.5 million (+182% Y/Y), and Organic core revenue was $102.1 million (+74% Y/Y).
The gross margin was 77.6%, compared to 74.2% in 3Q21. Non-GAAP gross margin was 84.6%, up from 76.9%.
The company clocked an adjusted loss from operations of $(5.7) million, compared to $2.1 million in 3Q21.
Adjusted EPS was $(0.08), beating the consensus of $(0.16).
BILL served 146,600 Bill.com customers. Also served 18,100 spending businesses that used Divvy and 221,400 subscribers that used Invoice2go.
The company processed $55.1 billion in total payment volume (TPV) for Bill.com customers in the quarter, increasing 57% Y/Y. Processed 9.5 million transactions through the Bill.com platform, up 32% Y/Y
Net cash used in operating activities YTD totaled $(7.62) million, compared to $(13.16) million a year ago. Free cash outflow was $(18.79) million.
4Q22 Outlook: Bill.com expects revenue of $182.3 million - $183.3 million, vs. consensus of $168.8 million; and Adjusted EPS of $(0.14) - $(0.13), vs. consensus of $(0.15).
FY22 Outlook: Bill.com expects revenue of $624 million - $625 million, vs. consensus of $599.8 million; and Adjusted EPS of $(0.35) - $(0.34), vs. consensus of $(0.46).
Price Action: BILL shares are trading lower by 17.80% at $125.20 during the post-market session on Thursday.
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