BILL Holdings: Good Progress, No Drama

Research and Value 53 Followers Follow Summary BILL Holdings delivered solid FY4Q 2026 results, exceeding guidance and consensus on revenue and EPS, with notable operating profitability improvement. BILL's emerging AI moat leverages a massive proprietary financial data set and a unique 9 million-member network, supporting its competitive position and future growth. Share buybacks have reduced outstanding shares by 15 million, and BILL remains undervalued at 2.1x FY2027E revenue, with an updated price target of $86 (approximately 83% upside). Risks include a recent slowdown in net new customer additions, as well as AI-related disruption challenges, but the company anticipates customer growth reacceleration next quarter. Benjamas Deekam/iStock via Getty Images Investment Thesis Update BILL reported overall solid results and progress across most key areas, including operating profitability improvement, execution of workforce restructuring, AI transformation and adoption among its customer base, and share buybacks. We believe the investment thesis expressed This article was written by Research and Value 53 Followers Follow The author is presently an entrepreneur and an investor focused on investing in public companies. The author has over ten years of financial services experience, which includes long and short bottoms up fundamental buy-side research, private equity, M and A Advisory, and accounting. See SA policy on anonymous authors: http://seekingalpha.com/page/policy_anonymous_contributors Disclaimer: In no event will the author writing under the pen name Research and Value (hereafter referred to as R&V) or any affiliated party be liable for any direct or indirect trading losses caused by any information published by R&V. Use of the author’s articles is at your own risk. You should do your own research and due diligence and consult with your own advisers before making any investment decision with respect to securities discussed in articles published by the author. No publication made by R&V is an offer to sell or a solicitation of an offer to buy any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction. R&V is not registered as an investment advisor in the United States or has similar registration in any other jurisdiction. R&V strives to provide accurate and reliable information contained in its articles, however no-one is error free and R&V is not responsible for any errors, omissions, or accuracy of any and all information presented in its articles. All information is presented “as is,” without warranty of any kind, whether express or implied. R&V makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any information or with regard to the results to be obtained from its use. All expressions of opinion are subject to change without notice, and R&V does not undertake to update or supplement its articles or any of the information contained therein. Analyst’s Disclosure: I/we have a beneficial long position in the shares of BILL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.