BILL Holdings, Inc.

After the speaker's remarks, there'll be a question and answer session. Thank you. I'll now turn the call over to June Wang, Director, Investor Relations. You may begin your conference.

Thank you. Good afternoon, everyone. Welcome to Bill's Cisco First Quarter 2026 Earnings Conference Call. We issued our earnings press release a short time ago and filed the related Form 8K with the SEC. The press release can be found on our investor relations website at investor.bill.com. Joining me on the call today are Rene LaSearch, Chairman, CEO, and Founder, John Reddick, President and COO, and Rohini Jain, CFO. Before we begin, please remember that during the course of this call, we may make forward-looking statements about the future business, operations, targets, products, and expectations of the bill that involve many assumptions, risks, and uncertainties. Actual results could differ materially from those expressed or implied by our forward-looking statements. In addition to our prepared remarks, please refer to the information in the company's press release issued today, our Q126 investor deck, and our periodic reports filed with the SEC, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. We disclaim any obligation to update any forward-looking statements. On today's call, we will refer to both GAAP and non-GAAP financial matters. Please refer to today's press release for reconciliation of GAAP to non-GAAP and additional information regarding these matters. With that, let me turn the call over to Rene. Rene?

Thanks, June. Good afternoon, everyone, and thank you for joining us today. We're off to a strong start in fiscal 26, delivering first quarter results at the top end of our guidance range for core revenue and achieving a substantial beat on profitability. Our focus on driving business results while expanding the value of our platform is working. The Fortune 5 million need Bill to help them operate more efficiently, manage cash with greater confidence, and navigate an increasingly complex financial environment. Our focus on intelligent automation and efficient operations is driving real impact for customers and strengthening our business. We've made significant progress on our strategic priorities since our last call. Here are a few key highlights. First, Our strong execution and disciplined investment delivered solid financial results. Our core revenue grew to $358 million of 14% year-over-year. Additionally, we posted a non-GAAP operating margin of 17%, a significant expansion as a result of our continued focus on profitability. Second, we signed three broad-reaching embed partnerships with category-leading software providers. significantly extending Bill's reach and positioning our platform directly within the tools where millions of SMBs already work. Third, we advanced our AI leadership with Bill's new intelligent AI agents, which deliver automation capabilities that are transforming financial workflows from manual to touchless. We continue to enhance the value delivered through Bill's platform with features that simplify financial operations and deepen customer engagement. Bill exists to empower the Fortune 5 million. Our momentum is anchored in the trust of nearly half a million businesses and over 9,000 accounting firms. Trust that fuels growth, unlocks opportunity, and uniquely differentiates Bill in the market. In today's environment, where every dollar and hour matter, that trust enables us to reshape financial operations for SMBs, replacing friction and complexity with simplicity, speed, and confidence. Powered by our platform's strength and the network we've built, Build is transforming how SMBs manage their finances and move money, setting the standard for intelligent, scalable financial operations. As more and more software solutions become available, we think it is critical to meet the customer where they are. That is why we have always had a focus on developing our platform with partners in mind. Last year, we launched our Embed 2.0 strategy to remove friction for partners to quickly and easily leverage our unique size and capabilities for their customers. This focus allows us to accelerate our ability to efficiently and effectively expand Bill's reach and creates a compelling long-term growth opportunity. Since last quarter, we've taken a major step forward with three new embedded partnerships across top-seeded software providers. These partners collectively serve almost 1 million small and mid-sized customers, representing an estimated $1 trillion in annual payment volume. In October, we announced a strategic partnership with NetSuite. The new bill-powered payment automation capability, which is embedded in NetSuite's intelligent payment automation, helps customers accelerate accounts payable processes, increase efficiency, and reduce risk. It's available to all U.S. NetSuite customers, meaning that tens of thousands of businesses can access Bill's leading AP automation and payment solution directly inside NetSuite's number one AI cloud ERP. Additionally, we're also excited to announce our new embedded partnership with Paychex, one of the largest payroll and HR providers in the U.S., paying one out of every 11 American private sector workers and serving hundreds of thousands of SMB customers. With unmatched distribution through a vast accountant network and dedicated Salesforce for SMBs, Paychex further extends Bill's ability to reach and support millions of small and mid-sized businesses nationwide. Our next and most recent embed partner is Acumatica, one of the fastest growing ERPs that serves a large and growing base of mid-market businesses across industries like construction, manufacturing, distribution, and professional services. By embedding Bill's AP capabilities natively into Acumatica's system, thousands of SMBs gain direct access to Bill when they need it most. Industry-leading software companies are choosing Bill to enhance the value they provide to their customers. These partners selected Bill to leverage our scale, data, and payment capabilities, enabling them to efficiently diversify their customer relationships, deliver greater efficiency, and drive more revenue. As a result, we're able to expand the market and accelerate Bill's reach to businesses large and small. In addition to scaling Bill's reach through our embed 2.0 initiative, we're also expanding the delivery of strategic finance capabilities to SMBs, deepening the value we provide and helping businesses manage and move money more intelligently. In Q1, we launched Bill Cash Account, which is a high yield, fully integrated operating bank account that lets businesses do more than track their money. It helps them manage their money by optimizing their cash flow, enabling faster payments, earning interest, and providing seamless control and visibility across all of their transactions, all within the platform they already use for payables, receivables, and spend and expense. In addition, we continue to expand the capabilities across our core platform, adding advanced reporting in the Accountant Council, new self-service global payment tools, a more extensible API platform, and new third-party integrations. Our new Gmail and Lyft integrations for spend and expense are great examples of how we're embedding Bill into the tools businesses already use every day. Receipts now flow automatically, saving customers time and eliminating friction from expense management. This is another example of extending our reach to meet businesses where they work. Bill's platform is increasingly intelligent, increasingly autonomous, and increasingly essential to how Bill's customers manage their finances. As a leader in delivering predictive and generative AI, Bill is once again redefining our platform in the category with agentic AI. Our new AI agents represent a paradigm shift in automation at the operational level, building the foundation for a new era of touchless B2B transactions. Our vision goes beyond simply speeding up existing workflows. We are eliminating unnecessary busy work and friction. While Fortune 500 companies have enjoyed automation for years, the Fortune 5 million still face paperwork, policy gaps, and costly trade-offs because no one has ever built the workflows they need. We are rapidly changing that. Through the bill network, we've created one of the most comprehensive real-time financial maps of the SMB economy. Our network grows, our data advantage grows as well. increasing both the scale of our insights and the depth of understanding we have into how SMBs operate and what they need most. We have the unique capability to see how SMBs move money across industries in real time, revealing patterns and connections that no one else can see. And this visibility is powered by the reach of our network. 1% of U.S. GDP flows through Bill. It was more than half of that between members of our network. Having processed over $1 trillion in transaction volume and 1.3 billion documents, we built the richest verified financial data set in our category. As a highly trusted company, Bill upholds the highest financial regulatory and privacy standards. We're now leveraging this combination of scale, data, and trust to power Bill's agentic AI. Purpose-built agents that go beyond traditional automation to deliver strategic finance capabilities and enable a future of truly touchless B2B transactions. Here are a few examples of how our new agents are already making it easier to connect and do business. One of the biggest pain points for SMBs during tax season is managing 1099s and collecting the required W-9s. Our new W-9 agent automatically requests, collects, and pre-validates W-9s on behalf of customers for all of their new suppliers throughout the year, making what no business wants to touch touchless. This agent eliminates over 80% of the manual steps and is now generally available for Bill's AP customers. By eliminating this workflow, we estimate that we can help save more than 80,000 days of unnecessary work that is collectively spent by Bill's AP customers annually on W-9s. This is a game changer and enables SMBs to focus on strategy and growing their business. Next, we believe expense processing should also be touchless. We've introduced a new agent that automatically codes transactions, eliminating the need for data entry and reconciliation. Initial results show this agent dramatically decreasing the need for manual work, saving our customers time while increasing accuracy. Building on the same agenda foundation, we're simplifying user onboarding for spend and expense. automatically creating virtual cards and permissions so our customer employees can be enabled even more quickly and spend compliantly from day one. We've also introduced our new agentic build assistant to provide personalized instant answers to customer inquiries and troubleshoot common issues. This means customers spend less time managing the back office and more time growing their business. These new agents are just the beginning of our agentic journey. We're excited for customers to use them and to continue to leverage our scale and unparalleled expertise around SMB financial operations to develop more agents that eliminate workflows and the friction of doing business. The future for SMB finance is touchless and Bill is delivering it. As we look ahead, we have strong momentum and a clear path for creating value delivery for customers through AI, which positions Bill for durable growth. This quarter, we introduced important products to help small and mid-sized businesses operate more efficiently and unlock new opportunities. At the same time, we are building a more efficient and agile organization. The steps we've taken to align our cost structure, streamline operations, and invest in high-impact areas are positioning Bill for sustainable success and long-term profitability expansion. We're strengthening our foundation for the future with the addition of two new independent directors, We recently appointed Peter Feld, managing member, portfolio manager, and head of research at Starbird Value, and Lee Kirkpatrick, former chief financial officer at Trilio, to our board. Their combined and deep expertise in finance, digital transformation, fintech, and operational excellence will help build as we execute our strategy, accelerate innovation, and drive long-term value creation. We'd also like to thank Steve Fisher for his service and invaluable contributions to Bill's growth and success. We're focused on executing our strategy and continuing to build on the strong and differentiated foundation we've established. In the quarters ahead, we'll share a deeper view of Bill's long-term vision and financial framework. highlighting how our scale, data, and platform innovation position us to redefine intelligent finance for SMBs, drive sustained growth, and create lasting value for our shareholders. I'll now turn it over to John to share more on our Q1 fiscal 26 performance and key initiatives.