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bill.com Bill.com Reports First Quarter Fiscal 2022 Financial Results Q1 Core Revenue Increased 164 % Year - Over - Year Q1 Organic Core Revenue Increased 78 % Year - Over - Year Q1 Transaction Fees Increased 319 % Year - Over - Year Q1 Organic Transaction Fees Increased 127 % Year - Over - Year SAN JOSE , Calif .-- ( BUSINESS WIRE ) - November 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 first fiscal quarter ended September 30 , 2021 . " We kicked off our fiscal year with momentum and strong first quarter results that exceeded our expectations , " said René Lacerte , Bill.com CEO and Founder . " We also completed our acquisition of Invoice2go , which significantly expands our reach to serve millions more businesses around the globe . Most importantly , we helped hundreds of thousands of businesses simplify and automate their operations so they can focus on what they do best . Our leading accounts payable and accounts receivable platform and spend management solution position us well to become the all - in - one financial operations platform for SMBs . " " Our organic core revenue growth increased 78 % year - over - year in the first quarter , and our spend management solution continued its robust growth trajectory , " said John Rettig , Bill.com CFO . " Our performance was driven by strong adoption and usage of our solutions and solid execution across our team . We are in a strong position to extend our leadership in serving the SMB market . " Bill.com completed the acquisition of Invoice2go , a leading mobile - first accounts receivable ( AR ) software provider , on September 1 , 2021. Bill.com's reported financial results for the first quarter fiscal 2022 include the results of Invoice2go from that date , while prior periods presented do not . Organic results exclude the impact of Invoice2go and recently - acquired Divvy . Financial highlights for the first quarter of fiscal 2022 , as reported , including Divvy and Invoice2go , unless otherwise indicated : ● Total revenue was $ 116.4 million , an increase of 152 % from the first quarter of fiscal 2021 . ● Core revenue , which represents subscription and transaction fees was $ 115.6 million , an increase of 164 % year - over - year . Organic core revenue was $ 77.7 million , up 78 % year - over - year , and excluded Divvy and Invoice2go revenue of $ 37.9 million . O Subscription fees were $ 35.0 million , up 43 % year - over - year . Organic subscription fees were $ 34.1 million , up 39 % year - over - year , and excluded Divvy and Invoice2go fees of approximately $ 1.0 million .