What happened
Shares of Bill.com (BILL -10.62%), a cloud-based financial software company, were rising today after the company reported fourth-quarter results that beat Wall Street's consensus top- and bottom-line results.
The tech stock jumped by 17.4% as of 2:15 p.m. ET.
So what
Bill.com reported a non-GAAP loss per share of $0.03 per share in the fourth quarter, which was better than the $0.07 loss in the year-ago quarter and ahead of analysts' consensus estimate of a loss of $0.13 per share for the quarter.
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Investors likely would have been happy enough with those results, but the company kept the good news coming, with its revenue increasing 156% from the year-ago quarter to $200.2 million -- beating Wall Street's consensus average of $183.1 million.
"We delivered a strong fourth quarter to conclude fiscal 2022, serving 400,000 businesses and crossing $200 million in quarterly revenue," Bill.com founder and CEO René Lacerte said in a press release.
Bill.com's management also mentioned some other highlights from the quarter, which include the company's core revenue (which consists of subscription and transaction fees) increasing 151% to $194.8 million and subscription fees climbing 77% to $55.2 million.
Now what
Bill.com's management issued guidance for the first quarter, with revenue expected to be in the range between $208 million to $211 million, which would be a year-over-year increase of 77% at the midpoint.
Additionally, management said that non-GAAP earnings will be in the range between $0.05 to $0.07, up significantly from a loss of $0.15 in the year-ago quarter.
With the company beating analysts' top- and bottom-line consensus estimates for the fourth quarter and issuing strong guidance for the first quarter, it's no surprise to see Bill.com's stock surging higher today.
