$BILL · BILL Holdings, Inc.
BILL reported Q1 FY27 (ended Sept 30, 2026) results: total revenue $353.8M (+13% YoY), core revenue $316.4M (+14% YoY), and GAAP net income $60.3M ($0.61 diluted) versus a $3.0M loss a year ago. Non-GAAP operating income was $136.9M (101% YoY growth) and non-GAAP EPS was $1.18, both above the company's August outlook. The quarter reflects a voluntary accounting change (effective July 1, 2026) reclassifying card rewards as a reduction of revenue rather than sales and marketing expense, which affects classification only. BILL repurchased ~7M shares for ~$305M in the quarter.
- Core revenue $316.4M, up 14% YoY; transaction fees $239.1M, up 16% YoY.
- Non-GAAP operating income $136.9M, up 101% YoY; Rule of 40 score of 51.
- GAAP net income $60.3M vs a $3.0M net loss a year ago.
- Repurchased ~7M shares for ~$305M in Q1.
- Accounting change reclassifies card rewards to revenue reduction; no effect on operating income, net income, or cash flows.
Extended-hours trading shows BILL at $51.57, up 1.34% from the $50.89 regular close, a modestly positive reaction to the beat-and-raise.
BILL swung to GAAP profitability, beat its own EPS outlook by a wide margin, and raised full-year guidance while buying back $305M in stock.
BILL's 14% core revenue growth and 51 Rule of 40 score reflect a leaner, AI-driven fintech platform outperforming its own targets amid a competitive SMB payments landscape.
The accounting change makes revenue, gross profit, and gross margin non-comparable with prior periods; guidance is now on a revenue-net-of-rewards basis only. Forward-looking risks include interest-rate changes, political/regulatory developments, and trade policy shifts.