Revenue growth 189 percent for year-over-year for the most recently ended period. But the loss increased to $80.4 million, more than five-and-half times last year’s $17.5 million. The biggest rise in spending came in sales and marketing where expenses hit $80.8 million, more than five-and-half times $14.2 million in last year’s corresponding period. G&A expenses more than tripled while R&D more than doubled. In a recent earnings webcast, CEO Rene Lacerte said organic core revenue rose 75 percent while revenue from the acquired Divvy operations jumped by 188 percent year-over-year. The company added 8,100 net new customers for Bill.com, ending the quarter with 135,000 Bill.comn organic customers. Subscription revenue rose 85 percent to $49.2 million, spurred by the inclusion of the acquired Invoic2go business for the full quarter.
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BILL.COM SEES ORGANIC, M&A GROWTH Featured
Bill.com experienced sharp revenue growth during the second quarter ended December 31. But the payments software company spent the increases to support further growth.
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