BILL

MKT CAP:$4B

Bill.com Holdings, Inc.

Market Cap

$4B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$36.61-$13.95 (-27.59%)

Apr 24, 2026

Company Details

Bill.com Holdings, Inc. provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, a...

CEO

Rene A. Lacerte

IPO Date

Dec 12, 2019

Website

www.bill.com

Key Metrics TTM

Revenue

$1.6B

+11.8% YoY

Net Income

-$24M

EPS (Diluted)

-$0.23

Free Cash Flow

$348M

Revenue / Share

$15.33

Gross Margin

80.6%

Operating Margin

-5.8%

Net Margin

-1.6%

FCF Margin

22.4%

P/S

2.4x

P/E

—

Earnings Reports

Q3 2026

May 14, 2026

PENDING

Q2 2026

Feb 5, 2026

$415M+14.4%EPS -$0.03

Q1 2026

Nov 6, 2025

$396M+10.4%EPS -$0.03

FY 2025

Aug 28, 2025

$1.5B+13.4%EPS $0.23

Q4 2025

Aug 28, 2025

$383M+11.5%EPS -$0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$167M	$130M	-$83M
Q4 22	$200M	$157M	-$83M
Q1 23	$230M	$185M	-$88M
Q2 23	$260M	$213M	-$112M
Q3 23	$273M	$224M	-$54M
Q4 23	$296M	$243M	-$41M
Q1 24	$305M	$249M	-$57M
Q2 24	$318M	$260M	-$68M
Q3 24	$323M	$268M	-$28M
Q4 24	$344M	$278M	-$22M
Q1 25	$358M	$294M	-$8M
Q2 25	$363M	$296M	-$22M
Q3 25	$358M	$291M	-$29M
Q4 25	$383M	$310M	-$22M
Q1 26	$396M	$319M	-$21M
Q2 26	$415M	$331M	-$18M

Valuation

Quarter	P/S	P/E
Q3 22	8.1x	—
Q4 22	6.2x	—
Q1 23	5.0x	—
Q2 23	4.4x	—
Q3 23	3.9x	—
Q4 23	3.5x	—
Q1 24	3.3x	—
Q2 24	3.1x	—
Q3 24	3.0x	—
Q4 24	2.9x	—
Q1 25	2.8x	473.8x
Q2 25	2.7x	45.7x
Q3 25	2.6x	97.2x
Q4 25	2.6x	157.2x
Q1 26	2.5x	313.7x
Q2 26	2.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$26M	$23M
Q4 22	-$10M	-$15M
Q1 23	$18M	$12M
Q2 23	$55M	$48M
Q3 23	$34M	$24M
Q4 23	$80M	$73M
Q1 24	$54M	$48M
Q2 24	$80M	$74M
Q3 24	$67M	$62M
Q4 24	$79M	$73M
Q1 25	$89M	$82M
Q2 25	$79M	$86M
Q3 25	$100M	$93M
Q4 25	$84M	$68M
Q1 26	$97M	$82M
Q2 26	$105M	$104M

Capital Expenditures

Quarter	CapEx
Q3 22	$4M
Q4 22	$4M
Q1 23	$6M
Q2 23	$8M
Q3 23	$10M
Q4 23	$7M
Q1 24	$6M
Q2 24	$5M
Q3 24	$5M
Q4 24	$6M
Q1 25	$7M
Q2 25	$7M
Q3 25	$6M
Q4 25	$15M
Q1 26	$15M
Q2 26	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+208.8%	+266.6%
Q4 22	+235.2%	+277.9%
Q1 23	+193.7%	+113.2%
Q2 23	+66.2%	+60.2%
Q3 23	+63.3%	+30.7%
Q4 23	+47.8%	+19.0%
Q1 24	+32.6%	+13.9%
Q2 24	+22.5%	+3.7%
Q3 24	+18.5%	+7.3%
Q4 24	+16.1%	+8.4%
Q1 25	+17.5%	+1.2%
Q2 25	+13.8%	-0.5%
Q3 25	+10.9%	+10.4%
Q4 25	+11.5%	+10.9%
Q1 26	+10.4%	+13.7%
Q2 26	+14.4%	+12.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$53M	31.6%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$119M	45.9%
Q3 23	$64M	23.4%
Q4 23	$58M	19.5%
Q1 24	$65M	21.4%
Q2 24	$66M	20.6%
Q3 24	$59M	18.4%
Q4 24	$0	0.0%
Q1 25	$55M	15.2%
Q2 25	$66M	18.2%
Q3 25	$62M	17.4%
Q4 25	$60M	15.6%
Q1 26	$59M	14.9%
Q2 26	$64M	15.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 22	$60M	$60M	$81M
Q4 22	$65M	$57M	$72M
Q1 23	$75M	$67M	$119M
Q2 23	$79M	$69M	$165M
Q3 23	$79M	$72M	$115M
Q4 23	$82M	$73M	$117M
Q1 24	$89M	$73M	$118M
Q2 24	$86M	$70M	$118M
Q3 24	$82M	$64M	$118M
Q4 24	$80M	$25M	$124M
Q1 25	$79M	$67M	$126M
Q2 25	$85M	$71M	$133M
Q3 25	$87M	$74M	$137M
Q4 25	$90M	$70M	$148M
Q1 26	$80M	$77M	$149M
Q2 26	$83M	$79M	$155M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 22	208.8%	-37.2%	171.6
Q4 22	235.2%	-29.3%	205.9
Q1 23	193.7%	-23.2%	170.6
Q2 23	66.2%	-25.4%	40.8
Q3 23	63.3%	0.1%	63.3
Q4 23	47.8%	4.8%	52.6
Q1 24	32.6%	0.9%	33.5
Q2 24	22.5%	-2.6%	19.9
Q3 24	18.5%	19.5%	38.0
Q4 24	16.1%	11.2%	27.3
Q1 25	17.5%	10.9%	28.4
Q2 25	13.8%	16.6%	30.5
Q3 25	10.9%	4.5%	15.3
Q4 25	11.5%	6.0%	17.6
Q1 26	10.4%	6.9%	17.3
Q2 26	14.4%	9.3%	23.6

Rule of 40

Revenue Segments

Quarter	Interest On Funds Held For Customers	Subscription And Transaction Fees
Q3 22	$1M	$165M
Q4 22	$5M	$195M
Q1 23	$15M	$215M
Q2 23	$29M	$231M
Q3 23	$33M	$239M
Q1 24	$40M	$265M
Q2 24	$44M	$275M
Q3 24	$42M	$281M
Q4 24	$42M	$301M
Q1 25	$44M	$315M
Q2 25	$43M	$320M
Q3 25	$38M	$320M
Q4 25	$37M	$346M
Q1 26	$38M	$358M
Q2 26	$40M	$375M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$1.6B	$1.1B	$2.8B
Q4 22	$1.6B	$1.1B	$2.7B
Q1 23	$1.6B	$1.0B	$2.6B
Q2 23	$1.6B	$1.1B	$2.7B
Q3 23	$1.6B	$1.1B	$2.7B
Q4 23	$1.6B	$1.0B	$2.7B
Q1 24	$1.5B	$1.1B	$2.6B
Q2 24	$1.6B	$973M	$2.6B
Q3 24	$952M	$837M	$1.8B
Q4 24	$986M	$602M	$1.6B
Q1 25	$853M	$620M	$1.5B
Q2 25	$1.6B	$645M	$2.2B
Q3 25	$1.0B	$1.1B	$2.2B
Q4 25	$1.1B	$1.2B	$2.3B
Q1 26	$1.1B	$1.2B	$2.3B
Q2 26	$1.2B	$1.1B	$2.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	103M	+0.4%	+27.4%
Q4 22	104M	+0.6%	+26.4%
Q1 23	105M	+0.6%	+20.8%
Q2 23	106M	+1.3%	+2.9%
Q3 23	107M	+0.7%	+3.2%
Q4 23	106M	-0.2%	+2.4%
Q1 24	107M	+0.4%	+2.2%
Q2 24	106M	-0.8%	+0.0%
Q3 24	111M	+5.0%	+4.3%
Q4 24	107M	-3.5%	+0.9%
Q1 25	107M	-0.0%	+0.5%
Q2 25	104M	-2.6%	-1.4%
Q3 25	102M	-2.2%	-8.1%
Q4 25	103M	+1.0%	-3.8%
Q1 26	102M	-1.3%	-5.0%
Q2 26	101M	-0.7%	-3.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$120.6K	1K
Q4 22	$88.2K	2K
Q1 23	$101.3K	2K
Q2 23	$114.6K	2K
Q3 23	$120.1K	2K
Q4 23	$117.4K	3K
Q1 24	$121.0K	3K
Q2 24	$126.3K	3K
Q3 24	$128.1K	3K
Q4 24	$157.1K	2K
Q1 25	$163.9K	2K
Q2 25	$165.8K	2K
Q3 25	$163.8K	2K
Q4 25	$162.2K	2K
Q1 26	$167.4K	2K
Q2 26	$175.4K	2K

Revenue / Employee