Q3 2025 BILL Holdings Inc Earnings Call Transcript
Key Points
- Core revenue grew 14% year-over-year, demonstrating strong financial performance.
- Free cash flow increased by 44% year-over-year, representing a 25% margin.
- BILL Holdings Inc (BILL) expanded its capabilities for larger businesses and enhanced its payment portfolio.
- The company is accelerating its AI growth strategy, aiming to transform financial operations for SMBs.
- BILL Holdings Inc (BILL) added 4,200 net new BILL AP/AR customers, driven by strength in the accounting channel.
- Total payment volume grew 10% year-over-year, slightly below expectations.
- Customers scaled back their spend on some purchases, resulting in lower TPV per customer.
- SMBs are managing their spend more closely due to a dynamic macro environment, impacting transaction volumes.
- There is uncertainty in the cross-border payments market due to potential shifts in fiscal and trade policies.
- The company expects constrained near-term TPV per customer growth and monetization expansion due to economic conditions.
Good afternoon, and welcome to BILL's Third Quarter Fiscal 2025 Earnings Conference Call. Joining us for today's call are Bill CEO and founder, Rene Lacerte; President and CFO, John Rettig; and Vice President of Investor Relations, Karen Sansot.
With that, I'd like to turn the call over to Karen Sansot for introductory remarks. Karen?
Thank you, operator. Welcome to BILL's Fiscal Third Quarter 2025 Earnings Conference Call. We issued our earnings press release a short time ago and furnished the related Form 8-K to the SEC. The press release can be found on the Investor Relations section of our website at investor.bill.com. With me on the call today are Rene Lacerte, Chairman, CEO and Founder of BILL; and John Rettig, President and CFO.
Before we begin, please remember that during the course of this call, we may make forward-looking statements about the future business, operations, targets, products and expectations of bill that involve many assumptions, risks and
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