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Bill Moves Passes $1 Billion Revenue

 It was a big year for payments software company Bill which passed the $1 billion revenue mark and also reported its first non-GAAP income for the year ended June 30.

Bill registered what executives call “meaningful” non-GAAP profitability of $194 million for the recently ended year, compared to a non-GAAP loss of $24.3 million for fiscal 2023. Its GAAP loss was $15.9 million for fiscal 2023, a sharp drop from $84.9 million the prior year.

Bill reported revenue of $1.1 billion for the most recently ended year, a 65.1-percent increase from slightly less than $642,000 for Fiscal 2022.

The company also noted the number of accounting firms in its channel grew to 7,000 from 6,000 year-over-year.

CFO John Rettig said during In the company’s recent earning webcast, standalone subscription revenue grew to $57.8 million, an increase of 25 year-over-year, driven both by an expanding base and a price increase in the direct and accounting channels. 

Rettig did not disclose the size of the increases. 

CEO Rene Lacerte noted Bill has a beta version of invoice financing in the market. He said testing will be made available to more businesses next year, but provided no additional details.



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Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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