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      "text": "1 Total revenue for the 12 months ended December 31, 2024. 2 For the Fiscal Quarter ended December 31, 2024. 3 Core revenue defined as revenue derived from subscription and transaction fees. 4 Non-GAAP gross margin is a non-GAAP metric. GAAP gross margin was approximately 82%. See Appendix for reconciliation. 5 Represents core revenue generated in the fiscal year ended June 30, 2024 from BILL standalone customers acquired prior to the fiscal year ended June 30, 2023. See our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, for definitions and additional information. 6 Data for LTM ended June 30, 2024. Calculated by dividing total current period revenue by total prior period revenue. Excludes impact from BILL Spend & Expense and Invoice2go. 7 Data for customers acquired during FY2023. Defined as the number of quarters it takes for the cumulative non-GAAP gross profit earned from BILL standalone customers acquired during a given quarter to exceed total sales and marketing spend in that same quarter, excluding customers acquired through financial institutions and the related sales and marketing spend.",
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