Bill Holdings reports better-than-expected fourth-quarter results and $300 million buyback program – BILL Holdings (NYSE:BILL)

BILL Holdings, Inc. INVOICE Shares are trading higher after the company reported its fourth-quarter and fiscal 2024 earnings after the market closed on Thursday. Here’s a look at the details of the report.

The details: Bill Holdings reported quarterly losses of 3 cents per share, beating analysts’ consensus estimates of a loss of 20 cents by 85%. Quarterly revenue was $343.665 million, beating analyst estimates by 5.47% and representing year-over-year growth of 16.11%.

• Core revenue, which consists of subscription and transaction fees, was $301.3 million, an increase of 16% year over year.
• Subscription fees were $65.8 million, down 2% year over year.
• Transaction fees totaled $235.5 million, an increase of 22% year-over-year.
• Float income, which consists of interest on funds held for customers, amounted to $42.4 million.

The company also announced a $300 million share buyback program.

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“Fiscal year 2024 was an important year for BILL as we strengthened our position as an essential financial platform for SMEs,” said René LacerteCEO of BILL. “We launched our integrated platform, provided small and medium-sized businesses with access to capital and gave companies additional insight and control over their cash flow. Our relentless commitment to raising the bar in serving small and medium-sized businesses has resulted in strong financial results and growing scale.”

Outlook: Bill Holdings expects fiscal 2025 adjusted earnings between $1.36 and $1.61 per share (compared to the estimate of $2.06) and revenue between $1.415 billion and $1.45 billion (compared to the estimate of $1.275 billion).

BILL price promotion: According to Benzinga Pro, shares of Bill Holdings are up 3.47% in after-hours trading at $52.50 as of publication Thursday.

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