BILL Holdings (BILL) Company Report

Barington Capital Group, a shareholder of BILL Holdings, Inc., has sent a letter to Allie Kline, the Lead Independent Director, urging the company to reduce operating costs.
Barington also called on the Board to explore all strategic alternatives for BILL, including a potential sale, merger, or other business combination.
These recommendations are based on BILL's slowing fundamentals, inability to deliver operating profitability, and prolonged share price underperformance.
Barington believes BILL would be an extremely attractive acquisition candidate for both strategic and financial buyers.

23 hours ago

Press Release

BILL's CFO Details Strategic Growth Drivers and Profitability Initiatives

BILL

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

BILL's CFO, Rohini, highlighted three "inflection drivers" for future growth: leveraging AI for customer experience, scaling Supplier Payment Plus (SPP), and expanding through embed partnerships.
The company is reallocating resources to focus on the mid-market, expecting short-term fluctuations in Net New Adds (NNA) but anticipating an increase in Average Revenue Per User (ARPU), as mid-market customers spend three times more.
BILL is implementing a new pricing strategy and expects continued take rate expansion, with the emerging transaction portfolio growing at 40% in Q1 FY25 and SPP anticipated to significantly impact take rate in the next year.
The company is confident in achieving the Rule of 40 through revenue growth and cost structure optimization, including a recent workforce reduction.

2 days ago

Transcript

BILL CFO Discusses Strategic Priorities and Growth Initiatives at UBS Conference

BILL

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

BILL's CFO, Rohini Jain, outlined key strategic priorities for durable growth and profitability, including leveraging AI for customer experience, scaling Supplier Payment Plus (SPP), and expanding through embed partnerships.
The company is actively balancing growth and profitability, aiming for the Rule of 40 through revenue growth and cost structure optimization, which included a recent workforce reduction.
BILL is reallocating resources to focus on the mid-market, expecting this shift to increase Average Revenue Per User (ARPU) and TPV per customer, despite potential short-term fluctuations in Net New Adds (NNA). Mid-market customers spend three times more than other customers.
A new pricing strategy, including modular pricing, is being implemented to better align value with price, and the emerging transaction portfolio, growing at 40% in Q1, is expected to drive take rate expansion, with SPP contributing significantly next year.
The embed opportunity, with partners like NetSuite, Acumatica, and Paychex, is seen as a significant growth driver, utilizing a revenue share model to expand reach across different customer segments.

2 days ago

Transcript

BILL CFO Rohini Jain Discusses Strategic Priorities and Growth Drivers

BILL

New Projects/Investments

Revenue Acceleration/Inflection

Guidance Update

CFO Rohini Jain's strategic priorities include driving durable growth through AI-driven customer experiences, Supplier Payment Plus (SPP) for TPV monetization, and embed partnerships (e.g., NetSuite, Acumatica, Paychex), alongside cost base optimization to enhance profitability and shareholder value.
BILL is reallocating resources to focus on the mid-market, expecting Average Revenue Per User (ARPU) to increase as these customers spend three times more, though this may cause short-term fluctuations in Net New Adds (NNA).
The company is implementing a new pricing strategy, including short-term tactical adjustments and a long-term framework, to better align value delivered with price charged.
BILL anticipates continued take rate expansion, with the emerging transaction portfolio growing at 40% in Q1 and becoming a meaningful contributor, while Supplier Payment Plus (SPP) is expected to be a significant driver next year.

2 days ago

Transcript

BILL CFO Discusses Growth Strategy and Profitability Initiatives

BILL

Guidance Update

Product Launch

Revenue Acceleration/Inflection

BILL's CFO, Rohini Jain, outlined the company's goal to return to 20%+ core revenue growth by Q4 2024, driven by initiatives such as Supplier Payments Plus (SPP), embedded partnerships, and AI components.
The company is strategically going upmarket to target lower mid-market and higher SMBs, which drive three times the Total Payment Volume (TPV) of other customers, and is implementing an embedded 2.0 strategy for faster scale and transaction revenue growth.
BILL's spend management (S&E) business grew 21% year-over-year in Q1, with emerging payment products like Instant Pay and Working Capital growing 40% year-over-year in Q1, contributing to take rate expansion.
An Analyst Day is planned for H1 2026 to provide a comprehensive overview of the company's long-term strategy, financial model, and growth algorithm.

Nov 18, 2025, 3:30 PM

Transcript

BILL CFO Outlines Strategy for Growth, Profitability, and Upcoming Analyst Day

BILL

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

CFO Rohini Jain detailed BILL's strategy to achieve 20%+ core revenue growth by Q4 2024, an increase from 14% last quarter, driven by initiatives such as SPP, embedded partnerships, AI components, and a deliberate move upmarket.
The company is actively pursuing pricing opportunities to align with the value delivered by new features, having not raised prices in three years, with these efforts expected to contribute to RPU expansion.
Emerging products, including Instant Pay, Working Capital, and SPP, achieved 40% year-over-year growth in Q1, becoming a significant part of the ad valorem portfolio and contributing to expected take rate accretion in the second half of the year.
An Analyst Day is scheduled for the first half of calendar year 2026 to provide a comprehensive long-term strategy, including a 3-5 year financial model and future take rate expansion.

Nov 18, 2025, 3:30 PM

Transcript

BILL CFO Outlines Growth Strategy and Future Outlook

BILL

Revenue Acceleration/Inflection

New Projects/Investments

Guidance Update

BILL aims to achieve 20%+ core revenue growth by Q4 2024, up from 14% last quarter, driven by initiatives such as Supplier Payments Plus (SPP), embedded partnerships, and AI components, alongside a focus on profitability expansion.
The company is implementing a deliberate go-to-market strategy to target lower mid-market and higher SMBs, which contribute three times the TPV of other customers, and is scaling its Embedded 2.0 strategy to accelerate transaction revenue growth.
BILL's emerging product portfolio, including Instant Pay, Working Capital, and SPP, demonstrated 40% year-over-year growth in Q1 and is expected to contribute to a 0.4 basis points expansion in the APAR take rate this year.
An Analyst Day is scheduled for the first half of calendar year 2026 to present a three-to-five-year financial model and the company's overall business strategy.

Nov 18, 2025, 3:30 PM

Transcript

BILL Holdings Considers Strategic Options Amid Activist Pressure

BILL

M&A

Board Change

BILL Holdings Inc. is exploring strategic options, including a potential sale, and is working with a financial adviser to seek buyer interest from larger industry rivals and private equity firms.
This exploration is occurring amid pressure from activist investor Starboard Value LP, which holds an 8% stake and has nominated directors to improve shareholder returns.
Despite strong revenue growth of over 30% in recent years, BILL faces challenges with profitability and financial stability, evidenced by a negative operating margin and an Altman Z-Score of 0.74, signaling financial distress.
Following the news of the potential sale exploration, shares of BILL Holdings rose 14% in after-hours trading.

Nov 11, 2025, 11:16 PM

Bloomberg

BILL Reports Strong Q1 2026 Results and Updates FY2026 Guidance

BILL

Earnings

Guidance Update

Product Launch

BILL delivered Q1 2026 core revenue of $358 million, marking a 14% year-over-year increase, and achieved a non-GAAP operating income of $68 million. The company also updated its Fiscal Year 2026 guidance, expecting core revenue between $1.46 billion and $1.49 billion and non-GAAP operating income between $257 million and $277 million.
The company expanded its strategic reach by signing three new embedded partnerships with NetSuite, Paychex, and Acumatica, which collectively serve nearly 1 million SMBs and represent an estimated $1 trillion in annual payment volume. BILL also advanced its AI leadership by introducing new intelligent AI agents to automate financial workflows.
BILL demonstrated a strong focus on profitability, with non-GAAP operating margin expanding over 250 basis points sequentially in Q1 2026. As part of its operational efficiency initiatives, the company executed a 6% reduction in force, resulting in $9 million in restructuring charges in Q1. Additionally, BILL launched the BILL Cash Account to enhance treasury capabilities and drive transaction monetization.

Nov 6, 2025, 9:30 PM

Transcript

BILL Announces Q1 2026 Results

BILL

Earnings

Guidance Update

BILL reported Total Revenue of $395.7 million and Non-GAAP Net Income after non-GAAP tax adjustments of $70.2 million for Q1 2026.
The company achieved a Non-GAAP Gross Margin of 83.9% and Non-GAAP Operating Income of $68.2 million in Q1 2026.
As of September 30, 2025, 498,500 businesses were using BILL's solutions.
BILL has provided guidance for its fiscal second quarter ending December 31, 2025, and the full fiscal year ending June 30, 2026, covering total revenue, core revenue, non-GAAP operating income, non-GAAP net income, and non-GAAP net income per diluted share.

Nov 6, 2025, 9:30 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for BILL Holdings.

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