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Bill Holdings Inc. Faces Sales Outlook Setback


Shares of Bill Holdings Inc. (BILL) plunged 29% in after-hours trading on Thursday as the financial software firm revised its full-year sales forecast. The company is grappling with the challenges posed by inflation and consumer uncertainty, which especially affect its smaller-business customers.

Revised Expectations

Bill Holdings Inc., known for its software that assists small businesses with payment processing, invoicing, and expense management, now expects full-year revenue to fall within the range of $1.205 billion to $1.245 billion. Similarly, the company has adjusted its projected per-share profit to be between $1.64 and $1.97.

This revision comes after an initial forecast in August of approximately $1.29 billion to $1.31 billion in sales, with adjusted earnings per share ranging from $1.82 to $1.97.

Moreover, Bill Holdings Inc. anticipates fiscal second-quarter sales of $293 million to $303 million, along with adjusted earnings per share of 35 cents to 44 cents, which both fall below expectations.

Strong First-Quarter Performance

In the fiscal first quarter, Bill Holdings Inc. reported adjusted earnings per share of 54 cents, surpassing FactSet’s estimate of 50 cents. The revenue earned during this time amounted to $305 million, exceeding expectations of $298.7 million.

Navigating Challenges in the Macro Environment

Acknowledging the “challenging macro environment,” Chief Financial Officer John Rettig emphasized the company’s commitment to strategically maneuver through the current situation. Despite the obstacles, they remain dedicated to focusing on the long-term potential of serving millions of small and medium-sized businesses (SMBs).

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