BILL Holdings (BILL) investor relations material

Strategic priorities and transformation

• Emphasis on becoming an AI-native company, focusing on leveraging AI to enhance internal operations and customer experiences, with urgency driven by AI's ability to accelerate innovation and reduce friction in financial operations.

• Workforce restructuring underway, targeting up to a 30% reduction to drive efficiency and profitability, with outside consultants engaged to ensure thoughtful execution and minimal disruption.

• Share buyback program announced, aiming to return value to shareholders and reflecting confidence in undervaluation and future profitability growth.

• No significant change in strategic priorities due to industry consolidation; trust, scale, and distribution remain core competitive advantages.

AI, product innovation, and market opportunity

• AI is seen as transformative, enabling a shift from "do-it-with-you" to "do-it-for-you" financial operations, with automation already benefiting over 100,000 customers.

• AI expected to both expand total addressable market (TAM) and accelerate penetration by reducing adoption friction and enabling new roles-based automation.

• Focus on integrating AI to remove human friction in sales and marketing, aiming for product-led growth and enhanced customer value.

• Embed 2.0 leverages partnerships to activate multiple payment products, with early signs of strong adoption among larger customers.

Competitive positioning and growth levers

• Moats include deep SMB and payments expertise, robust payment platform with 12 modalities, vast proprietary data, and multi-channel distribution.

• Distribution channels span direct, accountant, partnership, and network efforts, with accountants and embedded solutions seen as key growth drivers.

• Cross-sell of Spend & Expense and AP products up 39% year-over-year, reflecting integrated platform value and focus on higher-ARPU customers.

• Continued focus on driving payment adoption and monetization, with transaction revenue per transaction prioritized over take rate as a key metric.