Core Insights - BILL Holdings, Inc. is expected to report its fourth-quarter 2025 results on August 27, with projected revenues between $370.5 million and $380.5 million, indicating growth of 8-11% [1] - The Zacks Consensus Estimate for fourth-quarter revenues is $375.70 million, reflecting a 9.3% increase year-over-year, while the consensus for earnings is 41 cents per share, representing a decline of 28.07% from the previous year [2] - For fiscal 2025, management anticipates revenues between $1.45 billion and $1.46 billion, suggesting growth of 12-13%, with non-GAAP EPS projected between $2.06 and $2.09 [2][3] Revenue and Earnings Projections - The Zacks Consensus Estimate for BILL's fiscal 2025 revenues is $1.45 billion, indicating a year-over-year rise of 12.77%, while the consensus for full-year EPS is $2.09, suggesting a 1.42% decline [3] - For the fourth quarter, management expects core revenues of $335 million to $345 million, which translates to 11-15% year-over-year growth [12] - The consensus estimate for core revenues, which includes subscription and transaction fees, is currently $339.06 million, up from $320.3 million in the prior quarter and $301.31 million in the year-ago period [12] Transaction and Payment Volume - BILL is projected to process 32.4 million transactions in Q4, an increase from 30 million in the prior quarter and 28 million in the year-ago period, reflecting strong engagement from small and mid-sized businesses (SMBs) [15] - The Zacks Consensus Estimate for total payment volume (TPV) in Q4 is around $83.4 billion, up from $79 billion in the prior quarter and $76 billion in the year-ago period [15] Strategic Developments - BILL is strategically advancing by broadening its offerings for larger enterprises and enhancing its payments portfolio, with a focus on AI-driven initiatives for SMBs [9][10] - Recent product launches include Supplier Payments Plus, aimed at automating accounts receivable workflows for high-volume SMB payments, and innovations in procurement and financial automation [10] Market Performance and Valuation - BILL shares have declined 4.8% over the past three months, contrasting with a 14% increase in the Zacks Internet - Software industry and an 11.9% rise in the S&P 500 [17] - The stock is currently trading at a forward Price/Sales (P/S) ratio of 2.60X, which is below the industry average of 5.70X and at a discount compared to peers like SAP and Intuit [18] Overall Assessment - BILL's expanding customer base and comprehensive product suite are driving growth and profitability, although macroeconomic headwinds pose risks for SMB spending [19] - The company holds a Zacks Rank 3 (Hold), indicating a cautious outlook while monitoring future earnings and developments [20]