Bill.com Holdings Inc. shares dropped in the extended session Thursday after the business automation software company’s revenue outlook struggled to exceed Wall Street expectations.
shares fell as much as 20% after hours, following an 8.2% gain in the regular session to close at $128.91.
The company reported a second-quarter loss of $95.1 million, or 90 cents a share, compared with a loss of $80.4 million, or 78 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 42 cents a share, compared with break-even a share in the year-ago period.
Revenue rose to $260 million from $156.5 million a year ago.
Analysts surveyed by FactSet had estimated earnings of 13 cents a share on revenue of $243.6 million.
Then, Bill.com forecast third-quarter earnings of 22 cents to 25 cents a share on revenue of $245 million to $248 million for the third quarter, and 99 cents to $1.05 a share on revenue of $999 million to $1.01 billion for the year.
Analysts had estimated 13 cents a share on revenue of $251.5 million for the third quarter, and 57 cents a share on revenue of $1 billion.
The company also announced its board approved a $300 million share buyback plan.