BILL reported total revenue of $414.7 million for Q2 of fiscal 2026, marking a 14% increase year-over-year. Core revenue, which comprises subscription and transaction fees, rose 17% to $375.1 million. Subscription fees contributed $72.1 million (up 6%), while transaction fees surged 20% to $303.1 million. Float revenue, generated from interest on customer funds, added $39.5 million to the quarter’s top line. This balanced mix underscores the company’s ability to scale both recurring software subscriptions and volume-linked transaction services.

Gross profit reached $331.1 million, corresponding to a GAAP gross margin of 79.8%, down from 81.6% in the year-ago period. On a non-GAAP basis, gross profit was $347.8 million, with an 83.9% margin (compared to 85.2% a year earlier). The company narrowed its operating loss to $18.1 million from $21.7 million, while non-GAAP operating income climbed 18% to $74.1 million. Q2 GAAP net loss was $2.6 million (a $0.03 loss per share), contrasted with a prior-year net income of $33.5 million. Excluding certain one-time items, non-GAAP net income rose 17% to $73.4 million, or $0.64 per share, topping last year’s $0.56 per share non-GAAP result.

As of quarter end, nearly 498,500 businesses were actively using one or more of BILL’s finance solutions, reflecting continued customer adoption. Total payment volume processed reached $95 billion, a 13% increase year-over-year, while transaction count grew 16% to 35 million. The company repurchased approximately 2.5 million shares for $133 million, underscoring confidence in long-term value creation and disciplined capital allocation despite ongoing investment in platform innovation.

For Q3, BILL projects total revenue between $397.5 million and $407.5 million (11%-14% growth) and core revenue of $364.5 million to $374.5 million (14%-17% growth). Full-year guidance anticipates total revenue of $1.631 billion to $1.651 billion (12%-13% growth) and core revenue of $1.4895 billion to $1.5095 billion (15%-16% growth). Non-GAAP operating income for the year is expected to range from $274.0 million to $286.5 million, with non-GAAP net income per diluted share forecast at $2.33 to $2.41. Investors should weigh these targets against execution risks and ongoing investments in AI-driven product enhancements.