Why it matters: BILL's Nov 5 results show the business payments software company moving from a $3.0 million loss a year earlier to a $60.3 million profit while payment volume on its platform kept growing.
BILL (BILL) reported fiscal first-quarter revenue of $353.8 million, up 13% from $314.5 million a year earlier. The quarter ended Sept 30. Results were released Nov 5.
Profit: Net income was $60.3 million, or $0.61 per diluted share, compared with a net loss of $3.0 million in the same quarter last year. Operating income was $51.2 million, compared with an operating loss of $20.7 million. Non-GAAP operating income was $136.9 million, and non-GAAP net income per diluted share was $1.18.
Where the revenue came from: Core revenue, which BILL defines as subscription and transaction fees, was $316.4 million, up 14%. Transaction fees were $239.1 million, up 16%, and subscription fees were $77.3 million, up 9%. Interest earned on funds held for customers was $37.4 million. The company said it processed $102 billion in total payment volume in the quarter, up 14%, and served 475,300 businesses at quarter end.
Accounting change: Starting July 1, BILL began recording rewards paid to users of its spend and expense cards as a reduction of revenue instead of a sales and marketing expense, and it restated prior periods to match. The company said the change affects classification only and does not change operating income, net income or cash flow.
Cash and buybacks: Operating cash flow was $96.8 million and free cash flow, a non-GAAP measure, was $82.9 million. BILL said it repurchased about 7 million shares for about $305 million during the quarter.
The company's outlook: For the fiscal second quarter ending Dec 31, BILL guided total revenue to $353.0 million to $363.0 million. For the fiscal year ending June 30, 2027, it guided total revenue to $1.4335 billion to $1.4635 billion and non-GAAP net income per diluted share to $3.99 to $4.15. These are the company's own projections.
This story is for information only and is not investment advice.
Sources
- BILL: first-quarter fiscal 2027 results release, Form 8-K Exhibit 99.1, SEC EDGAR, Nov 5, 2026
- BILL Holdings: Form 8-K (results of operations), SEC EDGAR, Nov 5, 2026
- BILL Holdings: Form 8-K filing index, SEC EDGAR, Nov 5, 2026
How we checked this: We read BILL's fiscal first-quarter 2027 earnings release and the related Form 8-K (Item 2.02) as filed with the SEC on Nov 5, 2026, in copies saved on Nov 8, 2026 at about 5:16 PM ET, and checked every figure against them.
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