BILL Holdings (BILL) Q3 2025 earnings summary

Executive summary

• Q3 FY25 total revenue grew 11% year-over-year to $358.2 million, with core revenue up 14% to $320.3 million; FY'24 total revenue reached $1,290 million, up 22% year-over-year.

• Over 488,600 businesses use the platform, processing $79.4 billion in payment volume and 30 million transactions in Q3 FY25.

• Expanded mid-market and large business solutions, enhanced payment portfolio, and accelerated AI and platform innovation.

• Welcomed a new EVP, General Manager of Software Solutions.

• Broadened ecosystem with new distribution channels and deepened partnerships with accounting firms and financial institutions.

Financial highlights

• Q3 FY25 core revenue was $320.3 million, up 14% YoY; total revenue $358.2 million, up 11% YoY; trailing 12 months revenue was $1,423 million.

• Non-GAAP gross profit was $304 million (84.9% margin); GAAP gross profit $291 million (81.2% margin); non-GAAP operating income $53.3 million; GAAP operating loss $28.9 million.

• Non-GAAP net income was $58.7 million ($0.50/share); GAAP net loss was $11.6 million.

• Free cash flow for Q3 FY25 was $90.5 million (25% margin); nine-month free cash flow was $244.1 million.

• Ended Q3 FY25 with $1.05 billion in cash and equivalents and $1.13 billion in short-term investments.

Outlook and guidance

• Q4 FY25 revenue guidance: $370.5–$380.5 million (+8–11% YoY); core revenue $335–$345 million (+11–15% YoY).

• FY25 revenue guidance: $1,450–$1,460 million (+12–13% YoY); core revenue $1,290–$1,300 million (+15–16% YoY).

• FY25 non-GAAP net income expected at $236.7–$240.7 million; non-GAAP EPS $2.06–$2.09.

• Guidance includes a 20% non-GAAP tax provision and considers strategic capital allocation, including share repurchases.

• Management expects continued revenue growth, margin expansion, and profitability improvements, but notes macroeconomic uncertainty and lower interest rates may impact results.