BILL (BILL)
Combining payables, receivables, and spend-and-expense workflows for small and midsize businesses.
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Provides small and midsize businesses with integrated workflows for payables, receivables, and spend and expense. It is distributed through financial institutions, accounting firms, and software providers, with a proprietary member network connecting businesses that pay or get paid.
Automates financial operations for small and midsize businesses across payables, receivables, and spend and expense. It combines workflow software with a proprietary member network used by hundreds of thousands of businesses.
Distribution includes financial institutions, accounting firms, and software providers. Divvy added spend management, while Invoice2go added mobile-first accounts receivable and Finmark added financial planning and cash-flow insights; spend-and-expense products were later brought under the BILL name.
The platform addresses manual financial processes alongside enterprise, SMB, and point-solution competitors. Its operating model depends on product breadth, business adoption, and the continued utility of its member network.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | Truist Financial | Target | Target: $44 | Target: $52 |
| Aug 25, 2026 | Wolfe Research | Reiterate | Rating: —Target: $195 | Target: $60 |
| Aug 20, 2026 | BMO Capital | Reiterate | Rating: —Target: $46 | Target: $55 |
| Aug 20, 2026 | UBS | Reiterate | Rating: —Target: — | Target: $60 |
| Aug 20, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $55 | Target: $60 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.94B · Total debt $1.90B · Total assets $10.22B · Shareholders' equity $3.53B
- Revenue
- $436.2M
- Operating income
- $51.6M
- Net income
- −$18.5M
No dividends on record.
| Institutions | 115.96% | 98.89M shares | |
|---|---|---|---|
| 375 holders · as of Jun 30, 2026 | |||
| Insiders | 13.30% | 11.34M shares | |
| 22 holders · as of Sep 4, 2026 | |||
| Adds to | 129.26% | ||
85.28M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (85.28M in the company's Sep 22, 2026 report, 99.60M elsewhere); stakes use the report.
These groups come from separate filings that can overlap, so they add to 129.26%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
David Chao (“Chao”)Insider | 11.58% | 9.88M | filed Feb 5, 2020 |
BlackRock, Inc.Institution | 10.24% | 8.74M | as of Jun 30, 2026 |
Er Collective Holdings, LLCInstitution | 9.99% | 8.52M | as of Jun 30, 2026 |
Starboard Value LPInstitution | 8.24% | 7.03M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.67% | 5.69M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2026 | Rene A. Lacerte | director, officer: CEO | −42,248 | $50.17 |
| Sep 2, 2026 | Rene A. Lacerte | director, officer: CEO | −214,995 | $48.42 |
| Sep 1, 2026 | Rohini Jain | officer: Chief Financial Officer | −33,470 | $47.91 |
| Aug 31, 2026 | Michael Cieri | officer: Chief Product Officer | −10,754 | $49.13 |
| May 29, 2026 | Michael Cieri | officer: Chief Product Officer | −32,875 | $36.64 |
