Bill.com Holdings Inc (NYSE: BILL) went public in early December 2019, and so far it has performed well. The stock went public at $22 and as of yesterday’s close, it was trading at $40.10. The company was aiming to raise $150 million, but it exceeded this projection and raised $216 million after the stock rallied on its first day of trading.
The company’s strong IPO performance was buoyed by the company’s extensive partnerships in the U.S. 70 out of the 100 top accounting firms in the United States are its partners, as disclosed in its public filing. The company also has some of the world’s largest financial institutions as its clients. Some of them are JP Morgan Chase, Bank of America, and American Express.
Since going public, it has had a number of positive news that has supported the stock price. Two days ago, the company announced that, it will report its Q2 results on the 6th of February 2020. The news will be available on the Bill.com investor relations website. From its IPO filings, the company had revenues of $108.35 in the year ended June 30th. This was an increase of 67% compared to the previous financial year. However, the company had a net loss of $7.3 million compared to a net loss of $7.2 million in the previous financial year.
A week ago, the company announced that, it was moving its headquarters from Palo Alto to San Jose. It announced that it had received regulatory approval for an 11-year lease of a 132,000 square foot space at 6220 America Center Drive, the same complex that hosts computer giant Hewlett Packard.
From its price action in yesterday’s session, BILL eased up slightly after several days of gains. The stock opened the day at $41 and traded between a low of $39.50 and a high of $42.50 before closing the day at $40.10. Volumes in the day stood at 699.1k.
About Bill.Com Holdings Inc
Bill.com is a cloud software provider for back-office financial services. It is based in Palo Alto, California.