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BILL.COM ISSUES FY21 PRO FORMA Featured lost $289.6 million on revenue of $307.6 million on a pro forma basis for the year ended June 30. The numbers reflect the acquisition of Divvy on June 1, according to documents filed with the SEC.

The pro forma results adjust operations for Divvy, which reported on a calendar year, to the fiscal year end. On that basis, Divvy lost $64.9 million on $69.4 million in revenue for the most recently ended year.’s historical results for fiscal 2021 were a loss of $98.7 million on revenue of $232.3 million. The biggest contributor to the pro forma loss was a slightly more than $126-million transaction accounting adjustment with the largest element of that $60.5 million in transaction costs incurred by Divvy.’s historical expenses included $128.8 million for fiscal 2021, which represents 55.5 percent of revenue for the year. It spent $90.2 million on research and development—31.2 percent of revenue.’s pro forma loss was cut by a $57.6-million income tax benefit.

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