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BILL Holdings, Inc. reports on an intelligent finance platform for small and midsize businesses, accountants, and growing companies. The company’s recurring updates cover accounts payable, accounts receivable, spend and expense management, forecasting, procurement, B2B payments, and AI-enabled finance workflows.
Company news also includes quarterly financial results, subscription and transaction revenue trends, float revenue, share repurchase authorizations, product launches such as BILL Travel, expanded Supplier Payments Plus capabilities, and integrations with accounting and ERP providers. Other recurring items include investor-conference participation and developments across the company’s payments network and software ecosystem.
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BILL (NYSE: BILL), a leader in financial automation software for small and midsize businesses (SMBs), has appointed Ken Moss as its new Chief Technology Officer (CTO), succeeding Vinay Pai who is retiring. Moss brings over 30 years of technology experience, having previously served as CTO at Electronic Arts and held key roles at eBay and Microsoft. His expertise in data-driven development and AI will support BILL's mission to innovate and scale solutions that enhance customer value. CEO René Lacerte expressed confidence that Moss’s leadership will drive technological advancements at the company. BILL continues to be a trusted partner, automating finance processes to help hundreds of thousands of businesses thrive.
BILL (NYSE: BILL), a leader in financial automation software for small and midsize businesses, will announce its fiscal third quarter financial results for the period ending March 31, 2023, on May 4, 2023, after market closure. A webcast to discuss these results is scheduled for 1:30 PM PT (4:30 PM ET) on the same day. BILL's platform is utilized by hundreds of thousands of businesses to streamline financial operations such as payables and receivables, enhancing their efficiency in managing finances. The company is headquartered in San Jose, California, and collaborates with top U.S. financial institutions and accounting firms. Investors can access the news release and webcast link on BILL's investor relations website.
BILL (NYSE: BILL), a leader in financial automation software for small and midsize businesses, announced new offerings to assist SMBs affected by Silicon Valley Bank (SVB) events. The company is enhancing its services to help businesses access and manage funds, offering programs like BILL balance for secure fund storage, pre-approval for a Divvy line of credit, and the ability to connect SVB debit cards to BILL's payment platform. Additionally, a 3-month free trial for the BILL platform is available, enhancing financial operations for any business. BILL aims to support SMBs during this challenging time with innovative financial solutions.
BILL (NYSE: BILL) has addressed the recent closure of Silicon Valley Bank (SVB) by the California Department of Financial Protection and Innovation. Despite having approximately $300 million in corporate cash at SVB, the majority of its $2.6 billion in cash and processed payments are with other large financial institutions. The company estimates about $370 million in FBO Funds at SVB, with the recoverability uncertain. Nevertheless, BILL is confident that its existing cash flow and resources can meet its operational needs. As of March 9, 2023, the FDIC has assured access for insured depositors by March 13, 2023.
BILL (NYSE: BILL) has partnered with BMO to enhance payment automation for businesses. The BMO Bill Connect platform, powered by BILL, allows customers to streamline invoices and payments, improving efficiency and reducing fraud risks. Key benefits include faster payments, improved cash flow visibility, and enhanced control over financial operations. This collaboration reflects BILL's commitment to supporting small and midsize businesses by providing real-time insights and automated solutions for financial management.
BMO's integration of BILL's capabilities aims to create a digitally enabled banking experience, fostering growth for their customers.
BILL (NYSE: BILL), a leader in financial automation software for SMBs, has announced its participation in key investor conferences. The company will present at the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2023, at 1:30pm PT, and at the KeyBanc Emerging Technology Summit on March 7, 2023, at 1:00pm PT. Additionally, BILL will participate in the Wolfe FinTech Forum on March 14, 2023, at 8:00am PT. Interested parties can access live webcasts and replays on the company’s investor relations website. Presentation times may change.
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BILL (NYSE: BILL) reported a strong second fiscal quarter, with total revenue reaching $260.0 million, reflecting a 66% year-over-year increase. Core revenue, consisting of subscription and transaction fees, was $231.1 million, up 49% year-over-year. Notably, non-GAAP net income stood at $49.4 million, or $0.42 per diluted share. The company processed $67.3 billion in total payment volume, a 15% increase from the previous year. A share repurchase program for up to $300 million of common stock was also announced. The outlook for Q3 FY23 anticipates total revenue between $245 million and $248 million.