Visa, BILL a Billtrust spustily pilotní projekt v reálném provozu, v němž autorizovaní agenti AI provádějí schválené platby faktur mezi platformami odběratelů a dodavatelů, aniž by bylo nutné sdílet přihlašovací údaje.
Demonstrates how trusted AI agents are moving beyond automation to act on behalf of buyers and suppliers in real-world commercial transactions.
LAS VEGAS--(BUSINESS WIRE)--Visa (NYSE: V), BILL (NYSE: BILL) and Billtrust today announced they have launched the first live pilot to enable trusted AI agents to initiate and complete approved buyer invoice payments end-to-end through supplier portals.
Until now, many payment portals relied on human authentication requirements that limited how approved payments could be automated. Together, with leading accounts payable and receivable solutions providers BILL and Billtrust, the Visa Intelligent CommerceTM portfolio helps bridge that gap. Leveraging offerings such as Visa Trusted Agent Protocol, AI agents can now be securely authenticated to credentialed portals. As a result, buyer payments that previously relied on manual entry can be completed by trusted AI agents, while preserving supplier control and oversight.
How trusted AI agents are overcoming one of payment automation’s biggest barriers
The flow begins when the authorized BILL Payment Agent — registered using Visa’s Trusted Agent Protocol and Agentic Directory — uses tokenized payment credentials and controls aligned with the buyer’s approved payment instructions to issue payments on behalf of BILL's customers. Supported by capabilities within the Visa Intelligent Commerce (VIC) portfolio, this enables BILL to securely automate card payments for supplier invoices.
Once the payment is initiated, Billtrust leverages Visa's Trusted Agent Protocol to recognize, authenticate, and grant access to the authorized agent enabling BILL to complete the invoice payment on the customer's behalf. This agent authentication can satisfy the site protections historically provided by CAPTCHA and other bot blocking mechanisms, without requiring an additional agent login. As a result, Billtrust customers can receive fast portal payments in accordance with their acceptance policy, which can help accelerate cash flow.
“Businesses should not have to choose between automation and control when making payments,” said Mark Nelsen, SVP and Head of Product, Commercial & Money Movement Solutions, Visa. “This pilot applies agentic commerce to a real B2B-payment problem, by having trusted agents complete payments across platforms. Working with BILL and Billtrust, we are testing how identity, payment controls and transaction visibility can make that model work.”
Building trust into agent-initiated B2B payments
Drawing on capabilities within the Visa Intelligent Commerce portfolio, including Visa's Trusted Agent Protocol, the pilot enables:
A recognized and authenticated AI agent acting on behalf of an identified buyer Tokenized payment credentials rather than shared supplier-portal logins Payment controls tied to the customer’s approved payment instruction A purpose-built payment path tied to the specific invoice Visibility into the authorization and completion of the payment "Nearly 500,000 businesses trust BILL to move, manage and maximize their money, and that trust depends on removing friction without sacrificing accuracy and security of supplier payments. For too long, supplier portals have been friction points, requiring a person to manually complete what should be an automated step,” said Archana Prasad, SVP of Payments and Financial Services at BILL. “With Visa and Billtrust, BILL’s AI-powered payments technology is closing that gap: the payment gets done, the supplier gets paid faster, and finance teams get their time back."
For suppliers using Billtrust, the pilot creates a way to recognize and accept payments initiated by trusted business agents, helping release trapped cash while retaining the information needed to process and reconcile the payment within their existing payment acceptance policy. For buyers using BILL, automating this last manual step can give finance teams back the time they'd spend manually keying information into supplier payment portals.
“Agentic commerce will only move forward if businesses can trust agents to operate across systems with the same clarity and accountability they expect from people,” said Kunal Patel, SVP Payments, Billtrust. “By connecting buyer-side invoice approval with supplier-side payment acceptance, this pilot shows how authorized agents can complete business transactions, releasing trapped cash faster while adhering to a complex acceptance policy and preserving visibility and control for both sides.”
The pilot is currently live and processing end-to-end transactions with participating buyers using BILL and Billtrust suppliers. As the pilot progresses, Visa, BILL, and Billtrust will continue exploring opportunities in agentic payments. To learn more about Visa Intelligent Commerce and how Visa is building trust into agentic commerce, visit Visa.com.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About BILL
BILL (NYSE: BILL) is the intelligent finance platform trusted by nearly half a million businesses and their accountants to manage, move, and maximize their money. BILL powers businesses ranging from fast-moving startups to growing companies with complex operations. We use AI to deliver strategic finance capabilities in one integrated platform that includes AP, AR, expenses, forecasting, procurement and more. With a member network of more than 9 million, BILL’s platform processes ~1% of US GDP annually. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and software providers. For more information, visit bill.com.
About Billtrust
Billtrust is the B2B Cash Generation Platform built to release the cash trapped in accounts receivable faster, while maintaining relationships that earn repeat business. Finance leaders use Billtrust as a single, converged system for the full credit-to-cash cycle, converting earned revenue into cash they can predict, defend, and deploy. Powered by the largest B2B buyer network in the industry, with more than 20 million buyers and $1 trillion in annual trade credit volume, Billtrust turns AR data into the intelligence that makes cash generation effortless.
FAQ
What is this pilot?
Visa, BILL and Billtrust are piloting how an authorized AI agent can complete approved invoice payments on behalf of a buyer. Today, that final payment step often requires an employee to manually log into a supplier portal and submit payment information. The pilot explores how trusted agents can complete that task while maintaining buyer-defined controls and visibility.
Why does this matter?
It addresses one of the last major manual steps in many accounts payable workflows.
What role does Visa play?
Visa can help establish trust by enabling agent recognition, tokenized payment credentials and payment controls.
How could buyer and supplier platforms benefit from this model?
Under this pilot, buyer-side platforms such as BILL could expand card-payment opportunities to suppliers that historically supported automated payments primarily through ACH or check. Supplier-side platforms, such as Billtrust, could enable faster and more seamless portal payments, helping suppliers process payments more efficiently and improve Days Sales Outstanding (DSO).
Do buyers need to share supplier-portal credentials?
No. The pilot is designed to eliminate the need to share supplier-portal logins.
Is the AI agent making payment decisions?
No. The agent only executes eligible payments that have already been approved by the buyer.
Why are B2B payments a good use case for agentic commerce?
They already operate within established approvals, controls and the buyer’s rules.
BILL Holdings v posledních dvou čtvrtletích v průměru překonala odhady zisku o 22,69 %; aktuální Earnings ESP ve výši +0,15 % naznačuje možnost dalšího překonání.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering BILL Holdings (BILL - Free Report) , which belongs to the Zacks Internet - Software industry.
When looking at the last two reports, this payment processing software company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 22.69%, on average, in the last two quarters.
For the most recent quarter, BILL Holdings was expected to post earnings of $0.69 per share, but it reported $0.84 per share instead, representing a surprise of 21.74%. For the previous quarter, the consensus estimate was $0.55 per share, while it actually produced $0.68 per share, a surprise of 23.64%.
Price and EPS Surprise
For BILL Holdings, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
BILL Holdings has an Earnings ESP of +0.15% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #1 (Strong Buy), it shows that another beat is possibly around the corner.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
BILL Holdings ve 4. čtvrtletí fiskálního roku 2026 zvýšila výnosy o 14 % na 436,2 milionu USD a objem plateb o 14 % na 98,2 miliardy USD. Firma také odkoupila zpět asi 8,4 milionu akcií.
Key Takeaways BILL Holdings' fiscal 2026 revenues rose 14%, with payment volume and transactions each increasing 14%.More than 175,000 businesses used BILL agents, while AI streamlined invoice coding and transactions.BILL ended fiscal 2026 with $1.03 billion in cash and repurchased about 8.4 million shares. BILL Holdings’ (BILL - Free Report) integrated financial operations platform is benefiting from sustained revenue and payment-volume growth. Its AI agents are automating invoice coding, Spend & Expense transactions and card payments, while AI-driven underwriting is supporting growth in invoice financing and lower expected loss rates.
Partnerships with accounting firms, financial institutions and software providers are expanding BILL’s reach among SMB customers. Strong cash generation and balance-sheet flexibility support continued investment while enabling sizable share repurchases. These factors support BILL’s long-term growth prospects.
Analysts seem bullish on this Zacks Rank #1 (Strong Buy) stock. The estimate revision trend for fiscal 2027 earnings per share (EPS) indicates a favorable outlook, with estimates moving north over the past month.
Over the past three months, shares of BILL Holdings have increased 27.9% compared with the industry’s 32.8% growth. Given its solid fundamentals and positive estimate revisions, the stock is likely to maintain its momentum in the quarters ahead.
Image Source: Zacks Investment Research
Factors That Make BILL Holdings Stock a Solid PickSustained Revenue Growth: BILL Holdings’ revenues have expanded across several years, supported by higher payment activity and transaction monetization. Fourth-quarter fiscal 2026 revenues increased 14% to $436.2 million, while core revenues jumped 16% to $400.5 million. Total payment volume increased 14% to $98.2 billion, and transactions processed rose 14% to 37.4 million. For fiscal 2027, management expects total revenues of $1.81-$1.86 billion, representing 9-12% growth, and core revenues of $1.67-$1.72 billion, representing 11-14% growth.
Product-Led Automation With AI: BILL Holdings continues to prioritize AI-native financial workflows. Adoption broadened through fiscal 2026, with more than 175,000 businesses using BILL agents by the fourth quarter. The invoice coding agent reached more than 60,000 companies and eliminated about 90% of coding steps for multiline invoices, cutting processing time for AP customers by nearly half. The touchless transactions agent automated more than seven million transaction fields for 30,000 Spend & Expense customers, while the Pay For You agent completed more than 30,000 card transactions without human interaction in fourth-quarter fiscal 2026.
AI is also being applied to underwriting. In fiscal 2026, invoice financing volume and revenues each grew about 30% year over year, while the expected loss rate improved by more than 50%.
Partner Ecosystem Supports Distribution: BILL Holdings uses accounting firms, financial institutions and software providers to reach SMB customers through indirect channels. Per the company’s August 2026 investor presentation, more than 9,500 accounting firms were on the BILL platform, while the company’s network reached about 9.2 million members as of June 30, 2026. BILL processed $98.2 billion of total payment volume in fourth-quarter fiscal 2026, equivalent to a $393 billion annualized run rate.
Balance Sheet Flexibility and Buybacks: BILL Holdings ended fiscal 2026 with $1.03 billion in cash and cash equivalents and $906.5 million in short-term investments. Free cash flow increased to $354.7 million in fiscal 2026 from $312.5 million in fiscal 2025.
In the fourth quarter of fiscal 2026, the company repurchased about 8.4 million shares for roughly $300 million. Management said BILL had retired about 15 million shares, or nearly 14% of common stock outstanding, since its third-quarter fiscal 2026 earnings call. As of Aug. 19, 2026, $400 million remained under the $1 billion authorization.
Other Stocks to ConsiderSome other top-ranked stocks from the sector are Paycom Software, Inc. (PAYC - Free Report) and Paylocity Holding (PCTY - Free Report) . While Paycom Software sports a Zacks Rank #1, Paylocity has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for PAYC’s 2026 EPS has been revised 46 cents over the past month and calls for a 30.8% increase year over year.
The consensus estimate for PCTY’s full-year fiscal 2027 EPS has been revised two cents upward in the past month to $8.81, which implies a 6% increase from the year-ago period.
Společnost BILL Holdings za poslední měsíc přidala asi 0,4 % po výsledcích, které překonaly odhady: EPS 84 centů a tržby 436,2 milionu USD. Firma zároveň zvýšila výhled na celý fiskální rok 2027.
It has been about a month since the last earnings report for BILL Holdings (BILL - Free Report) . Shares have added about 0.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is BILL Holdings due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for BILL Holdings, Inc. before we dive into how investors and analysts have reacted as of late.
BILL Q4 Earnings Beat Estimates on Workforce Cuts, Lower Credit LossesBILL Holdings reported fourth-quarter fiscal 2026 non-GAAP net income of 84 cents per share, beating the Zacks Consensus Estimate of 69 cents. The figure rose 58.5% from a year ago. The profitability upside reflected earlier workforce reduction timing and lower fraud and credit losses.
Revenues of $436.2 million increased 13.8% year over year and surpassed the Zacks Consensus Estimate by 1.5%. Total payment volume reached $98 billion, up 14% year over year.
BILL’s Core Revenues Advance on TransactionsCore revenues, comprising subscription and transaction fees, increased 16% year over year to $400.5 million. Subscription fees rose 11% to $76.2 million, while transaction fees climbed 17% to $324.3 million. Float revenues were $35.7 million, down from $37.4 million in the prior-year quarter.
BILL accounts payable/receivable, or AP/AR, core revenues increased 10% to $192.4 million. Spend and Expense revenues rose 22.6% to $184.6 million, while Embedded Solutions and Other core revenues advanced 15.2% to $23.5 million.
BILL Holdings Expands Platform ActivityThe company served 479,300 businesses at quarter-end, down from 493,800 a year earlier. Embedded Solutions and Other customers fell to 249,500 from 283,200, while BILL AP/AR customers increased to 183,300 from 169,500.
Despite the lower total business count, transactions processed increased 13.7% to 37.4 million, while network members grew 11% to 9.2 million. Spend and Expense spending businesses reached 46,500, up from 41,100 a year ago.
BILL’s Margin Expansion Shows Operating LeverageNon-GAAP operating income increased to $101.6 million from $56.4 million. Non-GAAP operating margin reached 23%, expanding 860 basis points year over year.
GAAP operating expenses rose to $390.4 million from $332 million and included a $76.6 million restructuring charge. Research and development expense declined to $63.1 million from $90.1 million, while the provision for expected credit losses decreased to $13.5 million from $15.8 million.
BILL Holdings Sees AI and Multiproduct Adoption GrowMore than 175,000 businesses were using BILL's AI agents. Organizations using the W-9 agent more than tripled sequentially above 40,000, while the invoice coding agent had been used by more than 60,000 companies. The touchless transactions agent automated more than seven million transaction fields for 30,000 customers.
Customer spend on AI through BILL increased more than 50% year over year in the quarter, while total payment volume from AI-first customers nearly doubled sequentially. The number of joint customers using both accounts payable and Spend and Expense grew 35% year over year. Customers present in both the current and year-ago quarters posted net revenue retention of 111%.
BILL’s Cash Generation Funds Share RepurchasesNet cash provided by operating activities was $111 million, up from $83.8 million a year earlier. Free cash flow increased to $96.5 million from $68.5 million. BILL ended fiscal 2026 with $1.03 billion in cash and cash equivalents and $906.5 million in short-term investments.
BILL repurchased approximately 8.4 million shares during the fourth quarter for about $300 million. On the Aug. 19 earnings call, management said $400 million remained under the $1 billion share repurchase authorization.
BILL Holdings Guides for Double-Digit Core GrowthFor the first quarter of fiscal 2027, management expects total revenues of $432.5-$442.5 million and core revenues of $398-$408 million, implying core growth of 11%-14%. Non-GAAP net income per share is projected at $0.96-$1.00.
For fiscal 2027, BILL forecasts total revenues of $1.81-$1.86 billion, core revenues of $1.67-$1.72 billion and non-GAAP net income per share of $3.56-$3.79.
The revenue guidance is stated on the historical presentation basis before rewards expense is deducted. Beginning with first-quarter fiscal 2027 reporting, rewards expense will be presented as a reduction of revenues rather than sales and marketing expense, with no impact on operating income or net income.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 104.59% due to these changes.
VGM ScoresAt this time, BILL Holdings has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise BILL Holdings has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerBILL Holdings belongs to the Zacks Internet - Software industry. Another stock from the same industry, JFrog Ltd. (FROG - Free Report) , has gained 4.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
JFrog reported revenues of $163.77 million in the last reported quarter, representing a year-over-year change of +28.7%. EPS of $0.27 for the same period compares with $0.18 a year ago.
JFrog is expected to post earnings of $0.23 per share for the current quarter, representing a year-over-year change of +4.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for JFrog. Also, the stock has a VGM Score of C.
BILL Holdings, Inc. (NYSE:BILL – Get Free Report) CEO Rene Lacerte sold 42,248 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $50.17, for a total value of $2,119,582.16. Following the sale, the chief executive officer directly owned 163,125 shares of the company’s stock, valued at approximately $8,183,981.25. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
BILL Price Performance NYSE:BILL opened at $49.11 on Monday. BILL Holdings, Inc. has a 52 week low of $31.41 and a 52 week high of $57.21. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $4.19 billion, a P/E ratio of -377.77, a P/E/G ratio of 0.74 and a beta of 1.10. The stock’s fifty day moving average is $45.47 and its two-hundred day moving average is $40.92.
BILL (NYSE:BILL – Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The business had revenue of $436.19 million during the quarter, compared to analysts’ expectations of $430.55 million. BILL had a positive return on equity of 3.74% and a negative net margin of 0.68%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. BILL has set its Q1 2027 guidance at 0.960-1.000 EPS and its FY 2027 guidance at 3.560-3.790 EPS. Equities analysts expect that BILL Holdings, Inc. will post 2.22 EPS for the current year.
Institutional Inflows and Outflows Several hedge funds and other institutional investors have recently made changes to their positions in BILL. ER Collective Holdings LLC acquired a new position in BILL during the 4th quarter worth $464,588,000. California State Teachers Retirement System raised its position in BILL by 3,421.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,531,603 shares of the company’s stock valued at $127,703,000 after purchasing an additional 3,431,307 shares in the last quarter. Senvest Management LLC boosted its stake in shares of BILL by 155.8% in the 4th quarter. Senvest Management LLC now owns 2,573,261 shares of the company’s stock valued at $140,346,000 after buying an additional 1,567,186 shares during the period. Contour Asset Management LLC boosted its stake in shares of BILL by 45.5% in the 4th quarter. Contour Asset Management LLC now owns 4,710,570 shares of the company’s stock valued at $256,914,000 after buying an additional 1,472,132 shares during the period. Finally, Marshall Wace LLP grew its position in shares of BILL by 190.8% during the third quarter. Marshall Wace LLP now owns 2,166,899 shares of the company’s stock worth $114,781,000 after buying an additional 1,421,785 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock. Analysts Set New Price Targets A number of equities research analysts have weighed in on BILL shares. UBS Group lifted their price target on shares of BILL from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Needham & Company LLC restated a “buy” rating on shares of BILL in a report on Thursday, August 20th. BTIG Research reaffirmed a “buy” rating and set a $60.00 price objective on shares of BILL in a research report on Thursday, August 20th. Truist Financial increased their price objective on shares of BILL from $44.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, September 1st. Finally, The Goldman Sachs Group lifted their target price on shares of BILL from $50.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.67.
Read Our Latest Stock Analysis on BILL
BILL Company Profile (Get Free Report)
BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services.
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BILL uvedl, že fiskální rok 2027 bude zaměřen na AI-native platformu; více než 175 000 firem už použilo jeho AI agenty. Firma čeká tržby 1,669–1,719 mld. USD a GAAP zisk přesahující 125 mil. USD.
Key Takeaways BILL is making fiscal 2027 an AI-native platform year, with automation, unified selling and profitable growth.More than 175,000 businesses have used BILL's AI agents, with tiered subscriptions and usage pricing planned. Fiscal 2027 guidance calls for $1.669B-$1.719B core revenues, 23-24% margin and well over $125M GAAP profit. BILL Holdings, Inc. (BILL - Free Report) used its fiscal fourth-quarter 2026 earnings call to frame fiscal 2027 around an AI-native product shift, a unified platform sales motion and tighter focus on profitable growth.
Management also set a longer-term margin framework while acknowledging near-term disruption from sales changes, Spend and Expense dynamics and a narrower bank-partner strategy.
BILL Lays Out an AI-Native Road MapFounder, CEO and chairperson René Lacerte said more than 175,000 businesses have used BILL’s AI agents across accounts payable and Spend and Expense.
Lacerte said the company is moving toward an agentic platform that automates financial operations by default. He highlighted W-9 collection, invoice coding and touchless transaction agents as evidence of adoption.
In Q&A, a Needham analyst asked about monetization. Lacerte said BILL plans to pursue better early-life-cycle conversion and retention while moving toward platform fees, tiered agent subscriptions and consumption-based pricing.
BILL Holdings Sets a Profitability FrameworkQ4 non-GAAP EPS of $0.84 beat the Zacks Consensus Estimate of $0.69 by 21.70%, while revenues of $436.20 million topped the consensus mark of $429.70 million by 1.50%.
CFO Rohini Jain said BILL is positioned for low-double-digit to mid-teens core revenue growth with expanding margins over time and aims to exceed its Rule of 40 threshold exiting fiscal 2027.
For fiscal Q1, BILL expects core revenues of $398 million to $408 million and non-GAAP EPS of $0.96 to $1.00.
For fiscal 2027, BILL guided core revenues of $1.669 billion to $1.719 billion and a non-GAAP operating margin of 23% to 24%. It also expects well over $125 million of GAAP profit.
BILL Shifts Sales Toward Higher-ROI CustomersLacerte said the entire sales team is now trained to sell BILL as a single platform rather than separate products, with multiproduct adoption a central priority.
Joint AP and Spend and Expense customers grew 35% year over year in Q4, while customers present in both periods posted net revenue retention of 111%. Jain said the company added about 1,800 net new customers, below recent trends, partly because of restructuring.
A KeyBanc analyst pressed on customer additions. Jain said July showed recovery and projected 2,500 to 3,000 net additions in the first quarter, with the range expected to move higher over the remainder of the year.
BILL Holdings Sees Mix Changing the Growth MathA Morgan Stanley analyst asked what drove stronger AP/AR payment volume. Jain pointed mainly to ACH usage from larger newly acquired customers and stronger activity in manufacturing and construction.
Jain said mid-market customers generate roughly three times the ARPU and four times the TPV of the average BILL customer, but their heavier ACH mix carries lower take rates.
She added that core ARPU rose 3% sequentially. The trade-off reinforces management’s focus on customer quality and broader monetization rather than customer counts alone.
BILL Tightens Spend and Embed EconomicsJain said fiscal 2027 guidance includes three percentage points of growth headwind, with two points tied to Spend and Expense dynamics and one point to the bank channel. She expects fiscal Q2 to mark the growth trough.
BILL will begin presenting revenue net of rewards expense in the first quarter. Jain said the change does not affect operating or net income and should sharpen the focus on unit economics.
Lacerte said BILL is consolidating embedded finance around standardized Embed 2.0, even if some existing bank relationships do not continue. He also acknowledged Supplier Payments Plus progressed more slowly than initially expected, though committed TPV has reached almost $800 million.
BILL Holdings' Focus Turns to ExecutionLacerte characterized fiscal 2026 as a year of restructuring, capital returns and platform development, with fiscal 2027 centered on executing through a smaller, more aligned organization.
Jain’s outlook paired margin expansion and GAAP profitability goals with a selective approach to revenue quality, leaving sales execution, S&E normalization and AI monetization as key operating priorities.
What the Zacks Signal Says for BILLBILL currently carries a Zacks Rank #4 (Sell), with a Value Score of C, Growth Score of B, Momentum Score of B and VGM Score of B.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Under the Zacks framework, the Rank takes precedence over favorable Style Scores because it reflects the direction of earnings estimate revisions.
The B scores indicate relatively favorable growth, momentum and combined VGM characteristics, while the C Value Score is less favorable. The Zacks Rank can change as analysts revise estimates following the just-reported results.
BILL Holdings zveřejnila výsledky za fiskální 4. čtvrtletí a fiskální rok 2026. Na konferenčním hovoru vedení představilo čtvrtletní a roční výsledky i výhled.
BILL Holdings, Inc. (BILL) Q4 2026 Earnings Call August 19, 2026 4:30 PM EDT
Company Participants
Jon Andrews - Vice President of Investor Relations
René Lacerte - Founder, CEO & Chairperson of the Board
Rohini Jain - Chief Financial Officer & Principal Accounting Officer
Conference Call Participants
Tien-Tsin Huang - JPMorgan Chase & Co, Research Division
Scott Berg - Needham & Company, LLC, Research Division
Christopher Quintero - Morgan Stanley, Research Division
William Nance - Goldman Sachs Group, Inc., Research Division
Andrew Schmidt - KeyBanc Capital Markets Inc., Research Division
Christopher Svensson - Deutsche Bank AG, Research Division
Kenneth Suchoski - Autonomous Research US LP
Presentation
Operator
Hello, everyone. Thank you for joining us, and welcome to BILL's Fourth Quarter and Fiscal Year 2026 Earnings Call. [Operator Instructions]
I will now hand the conference over to Jack Andrews, Vice President, Investor Relations. Jack, please go ahead.
Jon Andrews
Vice President of Investor Relations
Thank you. Good afternoon, everyone. Welcome to BILL's Fiscal Fourth Quarter 2026 Earnings Conference Call. We issued our earnings press release a short time ago and filed the related Form 8-K with the SEC. The press release can be found on our Investor Relations website at investor.bill.com.
Joining me on the call today are Rene Lacerte, Chairman, CEO and Founder; and Rohini Jain, CFO. Our remarks today include forward-looking statements about our business, products and expectations that involve many assumptions, risks and uncertainties. Actual results could differ materially from those expressed or implied by such statements. On today's call, we will also refer to both GAAP and non-GAAP financial measures. Please refer to our earnings press release and investor presentation posted today and to our periodic reports filed with the SEC for additional information about such risks and uncertainties and for reconciliations of non-GAAP measures to GAAP.
Bill Holdings ve 4. čtvrtletí překonal odhady: EPS činil 84 centů a tržby 436,19 milionu USD. Firma zároveň pro fiskální rok 2027 očekává upravený EPS 3,56 až 3,79 USD a tržby 1,81 až 1,86 miliardy USD.
Bill Holdings Inc. (NYSE:BILL) posted its fourth-quarter results after Wednesday’s closing bell, beating estimates on the top and bottom lines. Here’s a look at the details inside the report.
BILL stock is moving. Watch the price action here. Bill Holdings reported quarterly earnings of 84 cents per share, which beat the consensus estimate of 70 cents by 18.3%.
Quarterly revenue came in at $436.19 million, which beat the Street estimate of $430.55 million.
Bill reported the following quarterly highlights:
Served 479,300 businesses using BILL solutions as of the end of the fourth quarter. Processed $98 billion in total payment volume in the fourth quarter, an increase of 14% year-over-year. Processed 37 million transactions during the fourth quarter, an increase of 14% year-over-year. Core revenue, which consists of subscription and transaction fees, was $400.5 million, an increase of 16% year-over-year. Subscription fees were $76.2 million, up 11% year-over-year. Transaction fees were $324.3 million, up 17% year-over-year. Float revenue, which consists of interest on funds held for customers, was $35.7 million. “Our results for the year demonstrate the durability of our business. We continue to see strong demand for BILL’s integrated platform, with increasing adoption of our AI capabilities,” said René Lacerte, BILL CEO and founder.
Looking AheadBILL expects fiscal 2027 adjusted EPS of $3.56 to $3.79, versus the $3.35 analyst estimate, and revenue in a range of $1.81 billion to $1.86 billion, versus the $1.85 billion estimate.
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BILL Stock Price Activity: According to data from Benzinga Pro, Bill stock was up 1.17% to $48.27 in Wednesday’s extended trading.
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