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bill.com Bill.com Reports Second Quarter Fiscal 2021 Financial Results Core Revenue Increased 59 % Year - over - Year Total Payment Volume was $ 35 Billion , up 40 % Year - over - Year Transaction Fees Increased 98 % Year - over - Year SAN JOSE , CALIF . - February 4 , 2021 - Bill.com ( NYSE : BILL ) , a leading provider of cloud based software that simplifies , digitizes , and automates complex back - office financial operations for small and midsize businesses ( SMBs ) , today announced financial results for the second fiscal quarter ended December 31 , 2020 . " We delivered strong financial results and record payment volume growth driven by robust demand for our platform and its expanded payment offerings , ” said René Lacerte , Bill.com CEO . " Adoption and usage continues to strengthen in this new remote environment as we are effectively guiding companies on their digital transformation path . Our offering has become a mission - critical tool for many small and midsize businesses . The increasing scale of our platform purpose - built for SMBs is automating financial operations facilitating over ten billion dollars of B2B payments each month . " Financial Highlights for the Second Quarter of Fiscal 2021 Total revenue was $ 54.0 million , an increase of 38 % from the second quarter of fiscal 2020 . Core revenue , which includes subscription and transaction fees , was $ 52.3 million , an increase of 59 % year - over - year . Subscription fees were $ 26.6 million , an increase of 33 % year - over - year . Transaction fees were $ 25.7 million , an increase of 98 % year - over - year . ● ● GAAP gross profit was $ 40.1 million , representing a 74.1 % gross margin , compared to $ 29.3 million , or a 75.0 % gross margin , in the second quarter of fiscal 2020. Non GAAP gross profit was $ 41.8 million , representing a 77.3 % non - GAAP gross margin , compared to $ 30.5 million , or a 78.0 % non - GAAP gross margin in the second quarter of fiscal 2020 . Loss from operations was $ 14.2 million , compared to a loss from operations of $ 7.9 million in the second quarter of fiscal 2020. Non - GAAP loss from operations was $ 2.7 million , compared to a non - GAAP loss from operations of $ 4.5 million in the second quarter of fiscal 2020 . ● Net loss was $ 17.2 million , or ( $ 0.21 ) per share , basic and diluted , compared to net loss of $ 7.6 million , or ( $ 0.34 ) per share , basic and diluted , in the second quarter of fiscal 2020. Non - GAAP net loss was $ 2.1 million , or ( $ 0.03 ) per share , basic and diluted , compared to non - GAAP net loss of $ 3.6 million , or ( $ 0.06 ) per share , basic and diluted , in the second quarter of fiscal 2020 .