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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.

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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