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BILL Holdings: SMB payments scale still has to prove durable software profit

BILLResearch reportPosted by Goglides ResearchMay 20, 2026
NYSEBILLCoverage BootstrapBILL Holdings, Inc.

Thesis summary

BILL has an annual revenue baseline of $1.46B, latest revenue marker of $1.22B first nine months fiscal 2026, annual net income of $24M and cash of $994.7M. The thesis depends on revenue durability, margins, cash conversion and balance-sheet discipline.

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BILL has an annual revenue baseline of $1.46B, latest revenue marker of $1.22B first nine months fiscal 2026, annual net income of $24M and cash of $994.7M. The thesis depends on revenue durability, margins, cash conversion and balance-sheet discipline.

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