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Earnings Results: Bill.com tops earnings expectations but stock extends slide

Shares of Bill.com Holdings Inc. were getting crunched in after-hours trading Thursday, building on a steep slide experienced in the regular session, though the maker of software that helps companies automate financial tasks topped expectations with its latest results and outlook.

The company logged a fiscal third-quarter net loss of $86.7 million, or 84 cents a share, whereas it posted a loss of $26.7 million, or 32 cents a share, in the year-earlier quarter.

On an adjusted basis, Bill.com
BILL,
-13.23%

lost 8 cents a share, compared with 2 cents a share a year before, while analysts surveyed by FactSet had been modeling a 16-cent loss per share.

Revenue rose to $166.9 million from $59.7 million a year before, whereas the FactSet consensus was for $157.9 million.

“We are excited about the opportunities ahead as we build the de facto solution to serve small businesses’ financial operations needs,” Chief Executive René Lacerte said in a release, while adding that the company saw “robust demand” in the latest quarter.

Bill.com’s shares were off more than 16% in extended trading Thursday, after falling 13% in the day’s regular session.

For the fiscal fourth quarter, Bill.com anticipates revenue of $182.3 million to $183.3 million, along with a 13-cent to 14-cent adjusted loss per share. The FactSet consensus was for $168.7 million in revenue and a 15-cent adjusted loss per share.

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