Billcom Holdings Inc (BILL) Q1 2026 Earnings Report

Billcom Holdings reported a strong start to fiscal 2026, delivering core revenue of $358 million, up 14% year over year, at the top end of guidance and accompanied by a meaningful expansion in profitability. The quarter featured a diversified growth trajectory across the integrated BILL platform, with AP/AR revenue up 10% YoY, Spend & Expense revenue up 19%, and card spend per customer reaching a record $145k, signaling stronger monetization from higher-value customers as BILL shifts upmarket.

Management outlined a multi-pronged growth strategy anchored in Embed 2.0 partnerships (NetSuite, Paychex, Acumatica), a broad AI agenda anchored by Agentic AI (including W-9, onboarding and expense-management agents), and the BILL Cash operating bank account designed to deepen wallet share and TPV per customer. The company is also pursuing ongoing cost discipline, including a 6% workforce reduction in the last two months, with $9 million in restructuring charges recognized in Q1, and an announced plan to expand in lower-cost geographies and optimize the cost structure. Full-year guidance remains constructive, with core revenue of $1.46–$1.49 billion and non-GAAP operating margin expansion to the high-teens (ex-float). The combination of a large, trusted SMB network, a data-rich payments platform, and AI-enabled process improvements supports a durable path to profitability and elevated multi-product adoption.

Near-term catalysts include accelerating embedded partnerships rollout, early monetization of AI agents through pricing and expanded value capture, and the BILL Cash revenue opportunity via faster settlement and higher on-platform TPV. However, investors should monitor potential headwinds from macro demand, longer enterprise sales cycles in mid-market, integration/phased rollouts with large ERP ecosystems, and the pace of profitability expansion as the company executes its restructuring and efficiency initiatives.