The cloud software provider streamlines financial workflows for small and midsize businesses through a subscription-based SaaS platform. In Q2 2026, the company delivered $414.7 million in revenue (up 14% YoY) with core revenue climbing 17%, while transaction fees grew 20% with total payment volume reaching $95 billion.
Cyborg Score Rationale
Strong revenue growth of 14% YoY with core revenue accelerating 17% and transaction fees up 20% demonstrate platform durability. However, shares are down 24% over the past year, underperforming the S&P 500 by 37 percentage points. Recent activist pressure and acquisition rumors create near-term uncertainty.
Top Insights
Core revenue grew 17% YoY to $375.1 million in Q2 2026, driven by 20% transaction fee growth to $303.1 million
Activist investor Barington Companies Management increased its stake to 13.96% of AUM in Q4 2025, adding 325,000 shares
AI-enabled financial software platform provides connections between suppliers and clients
Company repurchased $133 million of stock in Q2 2026, shrinking share count despite GAAP earnings swinging to a small loss
Named Competitors
Ramp — Corporate spend management and payments for SMBs
Clear — Expense management and compliance software
Melio — Business payments and payables platform
Certify — Expense and travel management solutions
Recent Developments
(February 2026) Barington Companies increased stake to 13.96% of assets, signaling conviction in turnaround potential
(February 2026) Hellman & Friedman reportedly in talks to acquire Bill Holdings, exploring strategic sale options