BILL Holdings Reports 10% Revenue Growth to $395.7 Million, Net Loss of $3.0 Million

BILL Holdings, Inc. reported its financial results for the three months ending September 30, 2025, revealing a total revenue of $395.7 million, a 10% increase from $358.5 million in the same period last year. The growth was primarily driven by a 14% rise in subscription and transaction fees, which reached $358.0 million, up from $314.9 million. However, the company experienced a decline in interest income from funds held for customers, which fell to $37.7 million from $43.5 million, reflecting lower yields due to decreasing interest rates.

The company's operating loss widened to $20.7 million compared to a loss of $7.7 million in the prior year, attributed to increased operating expenses, which rose 13% to $339.5 million. This increase was largely due to higher sales and marketing costs, which surged by 18% to $149.2 million, and the introduction of restructuring expenses totaling $8.9 million related to a recent reduction in workforce affecting approximately 6% of employees. As a result, BILL reported a net loss of $3.0 million for the quarter, a significant decline from the net income of $8.9 million recorded in the same quarter of 2024.

In terms of operational metrics, BILL's customer base has expanded, with approximately 173,500 businesses using its core accounts payable and receivable platform, and around 42,500 businesses utilizing its BILL Spend and Expense product. The total payment volume processed by these customers reached approximately $74.7 billion during the quarter. The company also reported processing around 12.5 million transactions through its platform, indicating strong engagement and adoption of its services.

Strategically, BILL has made significant advancements, including the launch of BILL AI, which features AI agents designed to automate tasks such as collecting and validating W-9 forms. The company has also formed new partnerships with major firms like Paychex and Oracle NetSuite, which are expected to enhance its service offerings and expand its market reach. Despite the current macroeconomic challenges, including inflation and interest rate volatility, BILL remains focused on improving operational efficiency and profitability.

Looking ahead, BILL Holdings anticipates continued growth in its customer base and transaction volumes, although it acknowledges potential risks from economic conditions that could impact small and medium-sized businesses. The company plans to monitor these conditions closely and adjust its strategies as necessary to maintain its growth trajectory and financial health.