BILL reported fourth-quarter revenue of $436.2 million, a 14% increase from the same period last year, as subscription and transaction fees climbed. Core revenue, which combines subscription and transaction fees, rose 16% to $400.5 million, driven by an 11% increase in subscription revenue to $76.2 million and a 17% rise in transaction fees to $324.3 million.
Non-GAAP operating income surged 80% to $101.6 million, compared with $56.4 million a year earlier, while non-GAAP net income reached $94 million, or 84 cents per diluted share, up from $61.6 million, or 53 cents per share. GAAP net loss widened to $18.5 million from a $7.1 million loss in the prior-year quarter. Payment volume processed totaled $98 billion, a 14% increase year-over-year, and the company ended the period with 479,300 business customers.
For the full fiscal year 2026, total revenue increased 13% to $1.65 billion, with core revenue up 16% to $1.50 billion. Transaction fees grew 18% to $1.21 billion, and non-GAAP operating income rose 35% to $323.7 million. GAAP net loss stood at $11.2 million, compared with net income of $23.8 million in fiscal 2025.
BILL’s fiscal 2027 outlook calls for total revenue of $1.81 billion to $1.86 billion, implying growth of 9% to 12%, and core revenue of $1.67 billion to $1.72 billion, a 11% to 14% increase. Non-GAAP operating income is projected at $421 million to $451 million, with non-GAAP diluted earnings per share expected between $3.56 and $3.79. The company also announced a change in accounting policy, beginning with the September-quarter report, to deduct rewards expenses directly from core and total revenue rather than treating them as sales and marketing expenses.
Shares of BILL rose 2.7% in U.S. premarket trading following the results. BTIG analyst Andrew Harte noted that the company’s fiscal 2027 revenue guidance appears conservative, citing management’s emphasis on prudence in the outlook.
