BILL Holdings Weighs Sale As Activist Investors Turn Up The Heat

Author: Akanksha Bakshi | November 12, 2025 09:49am

BILL Holdings Inc. (NYSE:BILL) is reportedly considering a potential sale after determining that its stock is undervalued in the public market, according to sources familiar with the matter. The company's shares climbed during after-hours trading following the disclosure.

The San Jose-based financial software provider has engaged advisers to explore strategic options, with discussions still in early stages and no certainty of a deal. Reuters reports that the move comes as activist investors increase pressure for changes aimed at boosting shareholder value.

Starboard Value disclosed an 8.5% stake in BILL in September and nominated four board members to push for strategic action. Around the same time, Elliott Investment Management built a significant position and began advocating for a sale, strengthening the case for a potential transaction.

Also Read: ERP Giant Acumatica Taps BILL To Supercharge Back-Office Payment Automation

BILL Holdings’ latest quarterly results showed adjusted earnings of 61 cents per share, exceeding estimates of 51 cents. Revenue rose 10% year over year to $395.74 million, supported by steady subscription and transaction growth.

Chief executive officer René Lacerte highlighted new partnerships with NetSuite, Paychex, and Acumatica as part of the company's expansion strategy. He said BILL's AI-driven tools enable "touchless" transactions, simplifying back-office operations for clients.

For the next quarter, the company projects adjusted earnings per share of 54 to 57 cents and has raised its full-year profit forecast, signaling confidence amid market challenges.

Price Action: BILL shares are trading 11.14% higher at $51.76 premarket at the last check on Wednesday.

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