#Bill.com smbs divvy barrononline update#

I'd like to thank them for their tireless efforts in delivering another excellent quarter.Įvery day, they are laser-focused on how we can help small-sized businesses simplify and transform their financial operations. These results are only possible because of the passion and dedication of our employees. Transaction fees increased 112% year-over-year, and TPV increased 44% year-over-year. In the fiscal third quarter, core revenue increased 62% year-over-year. We delivered record results and accelerated growth in our core revenue, transaction fees and total payment volume. I'll share more about Divvy's transaction after recap of our fiscal third quarter results. We posted a slide deck on our Investor Relations website with an overview of the transaction.

Blake Murray, the Co-Founder and CEO of Divvy, is with us today to talk about our shared vision and commitment for helping SMBs transform, grow and thrive. I'm thrilled to welcome the talented Divvy team to the family when the transaction closes. I cannot be more enthusiastic about this transaction and the significant value our combined companies can create for our customers. I'm also excited to announce that we've entered into a definitive agreement to acquire Divvy, a leader in the spend management space. I'm pleased to report that Q3 was a very strong quarter as a result of our continued focus on rigorous execution. I hope that all of you and your families are in good health and doing well. Rene Lacerte - Chief Executive Officer and Founder Please refer to today's press release for the reconciliation of GAAP to non-GAAP financial performance and additional disclosures regarding these measures. The nonrevenue financial figures discussed today are non-GAAP, unless stated that the measure is a GAAP number. On today's call, we will refer to both GAAP and non-GAAP financial measures.

#Bill.com smbs divvy barrononline update#

We disclaim any obligation to update any forward-looking statements. Please refer to the text in the company's press release issued today and to our periodic reports filed with the SEC, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC and available on the Investor Relations section of our website.

For a discussion of the risk factors associated with our forward-looking statements, If any of these risks or uncertainties develop or if any of the assumptions prove incorrect, actual results could differ materially from those expressed or implied by our forward-looking statements. Before we begin, please remember that during the course of this call, we may make forward-looking statements about the operations and future results of that may involve many assumptions, risks and uncertainties. We are also joined by Blake Murray, CEO and Co-Founder of Divvy. With me on the call today is Rene Lacerte, Chairman, CEO and Founder of and John Rettig, Executive Vice President and CFO. The press release can be found on the Investor Relations section of our website at. We issued our earnings press release a short time ago and furnished the related Form 8-K to the SEC. Welcome to 's Fiscal Third Quarter 2021 Earnings Conference Call. Karen Sansot - Vice President, Investor Relations