Bill Holdings reported first quarter fiscal 2027 results that exceeded revised guidance despite a voluntary accounting principle change that reduced headline revenue figures. The company restated its revenue presentation to net card rewards against subscription and transaction fees, which effectively lowered reported total revenue to $353.8 million, though this represents an underlying 13% increase year-over-year.
Key Highlights
- Core revenue grew 14% year-over-year to $316.4 million, driven by a 16% increase in transaction fees which offset lower interest income from customer funds.
- Non-GAAP operating margin expanded to 38.7% compared to 21.7% in the prior year, benefiting from organizational efficiencies and the reclassification of reward expenses.
- Total payment volume reached $102 billion, a 14% increase year-over-year, even as the total business customer base contracted slightly.
- The company executed aggressive share repurchases, retiring approximately 7 million shares for $305 million during the quarter.