Payments software company Bill.com is ready to go public. The company this week filed a form S-1 for an initial public offering with the number of shares to be offered yet to be determined.

Bill.com reported a loss of $7.18 million for the year ended June 30, down from a loss of $7.3 million for fiscal 2018. Revenue for fiscal 2019 was slightly less than $86 million, an increase of 40.8 percent from $57 million the prior year. Founder and CEO Rene Lacerte, who owns 7.6 million shares, 6.2 percent of the total, received $5.4 million in compensation for fiscal 2019 with $4.8 million from option awards. CFO John Rettig had $2.7 million in pay and SVP of product Bora Chung $2.2 million for fiscal 2019. The two biggest shareholders are investment groups, DCM with 19.8 million shares, 16.3 percent of the total, and August Capital with 15.5 million shares, 12.7-percent stake. with five more investment groups the next largest owners.

Last modified on Tuesday, 19 November 2019
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