BILL Holdings (BILL) UBS Global Technology and AI Conference summary

Market environment and business trends

• SMB market shows stability with signs of optimism and increased adoption of new solutions, despite some macro uncertainty.

• Recent quarters have seen improvement in key metrics like TPV per customer, reversing previous declines.

• Investments in payment automation and partnerships are beginning to yield positive results.

• Focus has shifted to larger, higher-quality customers, resulting in higher spend per customer and improved monetization potential.

• Cross-sell opportunities in spend and expense management remain in early stages, with significant growth potential.

Product innovation and monetization

• New products such as Invoice Financing and enhanced ACH are expected to contribute to revenue in FY25, with scaling anticipated in FY26 and beyond.

• Payment monetization is expanding from reliance on virtual cards to a broader portfolio approach, increasing share of wallet and retention.

• Ad valorem payment volume penetration stands at 14%, with a long-term target of 20%.

• Automation and integration with ERP systems are enhancing supplier experiences and driving adoption.

• Multi-product adoption is a key driver for increasing revenue per customer.

Growth strategy and financial outlook

• FY26 outlook targets 20%+ revenue growth, driven by net adds, larger customer focus, and multi-product adoption.

• Marketing investments are focused on enhancing payment products, deepening accountant channel relationships, and embedded solutions.

• Embedded solutions, including partnerships like Xero, are expected to provide long-term growth and efficiency.

• Operating income margin ex float improved by 10 percentage points year-over-year, with further expansion expected despite ongoing investments.

• Efficiency gains from automation, AI, and cross-sell initiatives are supporting both margin expansion and profitability.