The pro forma results adjust operations for Divvy, which reported on a calendar year, to the Bill.com fiscal year end. On that basis, Divvy lost $64.9 million on $69.4 million in revenue for the most recently ended year. Bill.com’s historical results for fiscal 2021 were a loss of $98.7 million on revenue of $232.3 million. The biggest contributor to the pro forma loss was a slightly more than $126-million transaction accounting adjustment with the largest element of that $60.5 million in transaction costs incurred by Divvy. Bill.com’s historical expenses included $128.8 million for fiscal 2021, which represents 55.5 percent of revenue for the year. It spent $90.2 million on research and development—31.2 percent of revenue. Bill.com’s pro forma loss was cut by a $57.6-million income tax benefit.