Bill.com Holdings: Adopting A Broad Distribution Strategy Reaping Rewards?

In the Second Quarter Fiscal 2024 Earnings, Bill.com recorded robust profitable growth despite a challenging macro environment as small and medium-sized businesses (SMBs) continue to manage their spending cautiously. The company reported year-over-year revenue growth of 22%, non-GAAP net income growth of 48%, and a non-GAAP net income margin of 23%. It sees prospects for further growth once SMBs begin spending for expansion. It currently has over 470,000 businesses using its platform, which processed more than USD 75 billion in payment volume during the quarter.