BILL (US:BILL) Prnewswire·2025-12-04 14:00Core Viewpoint - Barington Capital Group urges BILL Holdings to implement a comprehensive cost reduction plan and explore strategic alternatives, including a potential sale or merger, due to the company's slowing fundamentals and prolonged share price underperformance [1]. Group 1: Company Performance - BILL is positioned in the growing B2B financial automation sector, but faces challenges with slowing monetization trends and increasing industry competition, raising concerns about its long-term independence [2]. - The company has struggled to deliver operating profitability, which has led to market skepticism regarding its ability to maintain its leadership position [1][2]. Group 2: Strategic Recommendations - Barington recommends that the Board ensure management operates with greater cost discipline to better convert revenue growth into profitability and stronger cash flows [2]. - The firm suggests that BILL engage a financial advisor and form a special committee of independent directors to explore all strategic alternatives, including a potential sale or merger, given the strong private market valuations of similar companies [3]. Group 3: Investment Perspective - Barington believes that BILL would be an attractive acquisition candidate for both strategic and financial buyers, highlighting the disparity between the public market's valuation and the company's technology leadership and transaction network [3].