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Bill.com Eyes Small Biz Expansion

Bill.com plans to expand its service to the “smallest of businesses,” CEO Rene Lacerte said this week. Lacerte made the comments during the week’s webcast of earnings for the fourth quarter ended June 30.

For the most recently ended period, the payment software company more than quadrupled its loss to $41.9 million from a loss of $9.6 million a year ago. Revenue rose to $78.3 million, 86-percent higher than the $42.1 million in last year’s corresponding period. Much of the increased loss stemmed from $40.7 million in stock-based compensation. The quarter included one month of revenue from Divvy.

Lacerte did not quantify the size of those target businesses.

But he said Bill.com would grow by leveraging the recently purchased Divvy and Invoic2go, which has not yet closed. “With their international teams and products, we've taken an important step on our journey to expand internationally., Lacerte said. “There are more than 20 million small businesses globally and millions more sole providers in the markets that Invoice2go serves.”

For fiscal 2021, Bill.com lost $97.8 million, more than triple the $31.1 million in red ink last year. Revenue for the most recently ended year was $238.3 million, rising 51.2 percent from  $157.6 million for fiscal 2020. Invoice2go had annualized revenue of roughly $35 million for the 12 months ending June 30.

Beside expanding the small business effort, Lacerte noted, “At the same time, we will continue to build additional features and partnersh

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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