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BILL's Platform-Led Momentum Builds: Can AI Initiatives Boost Growth?

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Key Takeaways

  • BILL's Integrated Platform revenues rose 14.5% to $301.7M, now over 94% of core revenues.
  • The platform added 4,200 AP/AR customers and saw card payment volume jump 22% in Q3 FY25.
  • BILL processed $79.4B in TPV as AI tools help expand reach beyond SMBs to larger enterprises.

BILL Holdings (BILL - Free Report) is riding on the growing adoption of its platform. The company’s strategy of embedding AI across its integrated financial operations suite has been a game changer.

More than 488,600 businesses are using BILL’s integrated financial operations platform for accounts payable (AP), accounts receivable (AR) and spend management. The company is driving efficiency and engagement across its core user base through AI-driven tools like invoice capture, fraud detection and auto-categorization. These tools are helping in simplifying workflows and cutting down manual work.

BILL’s electronic payments network now includes 7.1 million members, and more than 9,000 accounting firms rely on its platform for advisory services. In the third quarter of fiscal 2025, its Integrated Platform generated $301.7 million in revenues, up 14.5% year over year, contributing more than 94% of core revenues. The company added 4,200 net new AP/AR customers and saw a 22% rise in card payment volume, indicating widespread platform adoption.

AI has become central to BILL’s long-term growth strategy. By integrating AI into ERP systems and supporting multi-entity workflows, the company is evolving beyond traditional small and medium businesses (SMBs) and positioning itself to serve larger enterprises with higher total payment volume (TPV). BILL believes this strategic pivot is beginning to pay off, as evidenced by the $79.4 billion in TPV recorded in the latest quarter, an early signal of growing traction.

According to BILL’s 2025 State of Financial Automation Report, an overwhelming 73% of financial SMB leaders are already using AI to run their business, with an even greater 83% expecting that influence to continue to grow over the next two years.

BILL Faces Stiff Competition

Global Payments (GPN - Free Report) processes transactions for millions of merchants through its merchant services and TSYS platform. Strengthened by acquisitions like EVO and the pending Worldpay deal, Global Payments benefits from global scale and growing digital payment demand. While it lacks BILL’s SMB-focused automation features, Global Payments benefits from rising digital payment demand, strong merchant contributions and robust cash flows.

PayPal (PYPL - Free Report) continues to lead the global digital payments space, backed by robust total payment volume growth and rising customer engagement. PayPal’s two-sided platform, strong brand and AI-driven fraud protection are key differentiators. With Venmo and Braintree solutions, PayPal drives innovation across channels. Its ease of use, mobile-first approach and expanding strategic partnerships solidify PayPal’s position in the rapidly evolving fintech landscape.

BILL’s Share Price Performance, Valuation & Estimates

BILL’s shares have plunged 46.4% year to date, underperforming the broader Zacks Computer and Technology sector’s return of 7.5%.

BILL YTD Price Return Performance

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From a valuation standpoint, its forward 12-month Price/Sales of 2.88X compares with the industry’s 5.75X. BILL has a Value Score of D.

BILL Forward 12-Month P/S Ratio

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The Zacks Consensus Estimate for fiscal 2026 earnings is pegged at $2.20 per share, unchanged over the past 30 days. indicating 6.34% year-over-year growth.

Zacks Investment Research
Image Source: Zacks Investment Research

BILL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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