BILL Holdings, Inc. (BILL)

In September 2025, Starboard Value LP acquired an 8.5% stake in BILL Holdings and began pushing for operational and governance changes, leading to a board refresh in October 2025. Elliott Management was reported to have acquired a roughly 5% stake in the company in 2025. On February 5, 2026, BILL Holdings Inc. reported its second-quarter fiscal year 2026 earnings, exceeding market expectations for both EPS and revenue. Despite positive financial results, the company's stock experienced a 4.16% decline in aftermarket trading. Analysts have issued various price targets for BILL within the last six months, with a median target of $60.0.

BILL Holdings, Inc. acknowledges that its results of operations can be affected by seasonal trends. The company's revenue model includes subscription and transaction fees, with a significant portion coming from repeat transactions, suggesting a degree of recurring revenue. Float revenue, derived from interest on funds held for customers, is sensitive to prevailing interest rates.

BILL Holdings, Inc. is an American financial technology company specializing in automated, cloud-based software for financial operations, primarily serving small and midsize businesses (SMBs) in the United States. The company offers automated Accounts Payable (AP) and Accounts Receivable (AR) solutions, providing cloud-based platforms to automate bill capture, approval workflows, payment processing, and invoice sending. With the acquisition of Divvy, BILL offers Spend and Expense Management through corporate credit cards with customizable limits and real-time expense tracking. The acquisition of Invoice2go extends BILL's reach to sole proprietors and micro-businesses. Bill.com Connect is a white-labeled payments automation platform offered to financial institutions. BILL leverages artificial intelligence and machine learning to streamline financial processes and enhance accuracy across its integrated platform.

BILL Holdings, Inc. is headquartered in San Jose, California, which houses its administrative and executive functions. The company also has a significant regional office in Houston, Texas, focusing on developers and supporting its nationwide client base. While primarily serving small businesses in the United States, the company has expressed opportunities for international expansion.

BILL is recognized as a leading provider of financial automation software, trusted by nearly half a million businesses and their accountants. The company emphasizes its intelligent finance platform, which leverages AI to deliver strategic finance capabilities. Events affecting BILL's reputation primarily revolve around strategic and governance matters, including the involvement of activist investors like Starboard Value LP and Elliott Management in 2025.

Institutional investors collectively control approximately 96.19% of the outstanding shares of BILL Holdings, Inc. as of August 21, 2025. Insiders, including company officers and board members, hold about 10.95% of the shares.