That marks a 14 percent increase compared to the same quarter a year prior, Bottomline said. Overall, revenues for Q2 hit $95.2 million, up 10 percent. Last year, the company posted a GAAP net loss of $10.3 million; this quarter, the firm netted $3.1 million in net income.
Overall, the data surpassed analyst expectations, reports said, as earnings yielded $0.31 per share, compared to Zacks Investment Research predictions for $0.26 per share.
“We continue to execute against our strategic plan and deliver strong results,” the company’s President and CEO Rob Eberle said in a statement. “Our product leadership is evidenced by the strong bookings we recorded in the quarter. We have a high degree of confidence in our ability to continue to execute against our strategic plan, achieve our financial targets and drive shareholder value.”
Last November, Bottomline Technologies announced a partnership with NACHA, which will be using Bottomline’s Paymode-X platform to collaborate with partners on B2B payments innovation and explore how to remove friction from ACH payments.
“B2B payments have not evolved at the same pace as other types of payments, because they can be more complex,” said NACHA Chief Operating Officer Jane Larimer in a statement at the time. “Through its business-targeted solutions, Bottomline Technologies is supporting the electronification of B2B payments — improving efficiencies, increasing savings and enhancing security. It is through solutions like Bottomline Technologies’ Paymode-X that B2B payments can begin to keep pace with the rapidly evolving payments landscape.”