BILL HOLDINGS, INC Stock Price, News & Analysis

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.

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.

BILL (NYSE: BILL) announced a share repurchase program authorized to buy back up to $300 million of its common stock. CFO John Rettig expressed confidence in the company's solid business foundation and future growth potential. The repurchase will occur through open market purchases and other means, with the program lasting 12 months and subject to market conditions. BILL aims to return capital to shareholders while minimizing dilution and leveraging its strong cash flow. Further details were provided in a Form 8-K filed on February 2, 2023 with the SEC.

BILL (NYSE: BILL), a leader in financial automation for small and midsize businesses, will announce its fiscal second quarter results for the period ending December 31, 2022, on February 2, 2023, post-market.

Investors can join a webcast at 1:30 PM PT (4:30 PM ET) on the same day to discuss these results. Detailed financial data will be made available via the BILL investor relations website, which will also host a replay of the webcast.

BILL (NYSE: BILL), a leader in financial automation software for SMBs, has successfully acquired Finmark, a financial planning software provider. This acquisition aims to enhance BILL's offerings, enabling SMBs to gain comprehensive cash flow insights and streamline financial operations. CEO René Lacerte emphasized the shared vision of supporting SMBs' success, while the Chief Product Officer highlighted the added capabilities and integrations Finmark brings to BILL’s platform. The deal is positioned to accelerate digital transformations for SMBs across markets.