RTTNews | Aug 27, 2021 10:59AM EDT

10:58 Friday, August 27, 2021 (RTTNews.com) - Shares of cloud-based software provider Bill.com Holdings, Inc. (BILL) are surging more than 28% Friday morning after better-than-expected sales in the fourth quarter.

Revenue for the fourth quarter increased 86% year-over-year to $78.3 million, helped by 73% growth in organic core revenue. On average, 12 analysts polled by Thomson Reuters expected the company to report revenue of $62.14 million.

The company reported net loss of $41.9 million, or $0.48 per share in the fourth quarter, compared with net loss of $9.5 million, or $0.13 per share, basic and diluted, in the same quarter a year ago.

Excluding items loss was $5.8 million or $0.07 per share. The consensus estimate stood at $0.04 loss per share.

Looking forward to the first quarter, revenue is expected in the range of $103.2 million - $104.2 million and loss per hare to be in the range of $0.21 - $0.20. Analysts see loss of $0.05 per share on revenue of $67.81 million.

For the full-year, revenue is expected between $476 million and $480 million and loss per share to be in the range of $0.92 - $0.88. The consensus estimate for earnings is at $0.14 loss per share and for revenue is at $308.29 million.

"We are pursuing a large, global opportunity to help millions of small businesses digitally transform their financial operations. With the strength of our organic business and the acquisition of Divvy, we believe we are on a path to extend our leadership position in serving the large SMB market," said John Rettig, Bill.com CFO.

BILL touched a new high of $288.80 this morning, before slipping to trade at $281.89 currently.

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