RestructuringMay 7, 2026, 04:09 PM
BILL Holdings to Cut Workforce by 30%; Authorizes $1B Buyback; Q3 Revenue Up 13%
AI Summary
BILL Holdings announced a significant workforce reduction of up to 30% to enhance organizational agility, efficiency, and drive greater profitability, anticipating $30 million to $60 million in related charges. Concurrently, the board authorized a new $1.0 billion share repurchase program. For the third fiscal quarter ended March 31, 2026, the company reported a 13% year-over-year increase in total revenue to $406.6 million and a 50% rise in non-GAAP operating income to $79.8 million.
Key Highlights
- Announced workforce reduction of up to 30% for organizational agility and efficiency.
- Estimated restructuring charges of $30 million to $60 million, mostly in Q4 FY26.
- Board authorized a new $1.0 billion share repurchase program.
- Q3 total revenue increased 13% year-over-year to $406.6 million.
- Q3 core revenue grew 16% year-over-year to $371.1 million.
- Q3 non-GAAP operating income rose 50% year-over-year to $79.8 million.
- Q3 non-GAAP diluted EPS was $0.68, up from $0.50 in the prior year.
- Processed $89 billion in total payment volume in Q3, an increase of 12% year-over-year.