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The two companies are among the last wave of startups to go public this year, with both Bill.com and Sprout Social offering about 8.8 million shares. Bill.com is expected to begin trading on the New York Stock Exchange on Dec. 12 and Sprout Social on Nasdaq on Dec. 13.
Crunchbase News covered Bill.com and Sprout Social’s financial results when they filed their initial S-1 with the Securities and Exchange Commission. You can read more about the companies here and here.
But as a recap, Bill.com reported about $35.2 million in total revenue for the third quarter of 2019, showing almost 57 percent year-over-year growth. During the third quarter of this year, the company also recorded $5.7 million in net losses, which was a 544 percent increase from the same period last year. That’s a big jump, but, as we noted previously, $5.7 million in quarterly losses for a SaaS company with gross margins that are above 70 percent isn’t a lot.
As for Sprout Social, its revenue for the first three quarters of 2019 was about $74.6 million, an increase from $56.6 million during the same period the year prior. Its losses are also mounting, from a net loss of $17 million in the first three quarters of 2018 to a net loss of $20.9 million during the same period this year.
More when the prices are set and trading begins.
Illustration Credit: Li-Anne Dias
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