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Bottomline Technologies, Inc. (EPAY) Stock Skyrocketing 15% Today. Here’s the Reason

Bottomline Technologies, Inc. (EPAY) is an innovative business payment company which makes the payments secure, simple and smart. The company operates in four sectors banking solutions, cloud solutions, payments and documents. One of the important product of the company is Paymode-X. the company also provides digital banking intelligent engagement program that facilitates the banks to engage fast with the customers. The company also gives fraud and risk management solutions. Many corporations around the globe are benefitting from the services of the company.

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The price of EPAY stock in the regular trading of December 16. 2021 was $48.92 with a slight decline of 2.86%. At the last check during the current session of December 17, 2021, the stock price gained by 15.09%.

Events and Happenings

On December 17, 2021, EPAY reported about its entry into a definitive contract to be acquired by a leading software investment firm, Thoma Bravo, in full-cash transaction that values the company at $2.6 billion. Upon accomplishment of the transaction, EPAY will become a privately held company. Under the conditions in the contract, company’s shareholders will receive $57.00 per share.

CEO Comments

On the occasion of entry of EPAY into definitive agreement, CEO of EPAY Rob Eberle was hopeful that the transaction will prove as an exciting and next chapter for the company, customers and employees. He said that the agreement is an evidence of the hard work and dedication of the entire management of the company.

Key Financials

On November 09, 2021, EPAY reported its financial results for the first fiscal quarter 2022 ended September 30, 2021. Some of the key highlights are as follows

Revenue

Total revenues collected during the first quarter 2022 were $123.6 million, an increase of 10% as opposed to the same quarter of last year which were $112.3 million. 

Net Loss per Share

Basic and diluted net loss per share was $4.9 million or $0.11 per share for first quarter 2022, while for the same period prior year it was $0.39 million. or $0.01 per share.

Assets

Total current assets of the company were reported to be $237.8 million for the first quarter of 2022.

On November 09, 2021, EPAY reported about the completion of the acquisition of Bora Payments Systems, allowing Paymode-X vendors to use straight through processing (STP) as a tool for receiving virtual card payments. On October 13, 2021 EPAY reported its collaboration with MRI Software as its Platinum Solution Partner. MRI Software is a leading real estate technology giant. 

Conclusion

EPAY is up 31% from past six months. The company’s investor-oriented partnerships specially the recent definitive agreement with Thoma Bravo is the main reason of surging of the company’s stock. The investors are putting their trust in the company’s policies and are optimistic about the future of the company.

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