Chris Quintero's questions to BILL Holdings (BILL) leadership • Q4 2025
Question
Chris Quintero of Morgan Stanley asked about the company's successful mid-market segment, inquiring how the go-to-market motion might evolve and whether partnerships with system integrators or other ISVs are being considered to accelerate growth.
Answer
President & COO John Rettig confirmed the strong performance and strategic importance of the mid-market segment, noting these customers have twice the TPV and user count of average SMBs. He explained that Bill will continue to leverage its existing multi-channel approach (direct, accountants, embed) while increasing resource allocation to this segment. He also highlighted ongoing investment in product capabilities, such as international features for the spend and expense solution, to better serve these larger, more complex businesses.