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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Claritev Corp (CTEV). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $246.6M, roughly 1.7× Claritev Corp). BILL Holdings, Inc. runs the higher net margin — -0.6% vs -32.7%, a 32.1% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 6.2%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $36.4M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 2.5%).
BILL Holdings, Inc. is an American company based in San Jose, California, that provides automated, cloud-based software for financial operations for small businesses in the United States. A white-labeled, end-to-end payments automation platform, Bill.com Connect is offered to financial institutions as part of their single sign-on online business banking ecosystem.
BILL vs CTEV — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $246.6M |
| Net Profit | $-2.6M | $-80.6M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | -3.1% |
| Net Margin | -0.6% | -32.7% |
| Revenue YoY | 14.4% | 6.2% |
| Net Profit YoY | -107.7% | 41.6% |
| EPS (diluted) | $-0.03 | $-4.88 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $414.7M | $246.6M | ||
| Q3 25 | $395.7M | $246.0M | ||
| Q2 25 | $383.3M | $241.6M | ||
| Q1 25 | $358.2M | $231.3M | ||
| Q4 24 | $362.6M | $232.1M | ||
| Q3 24 | $358.4M | $230.5M | ||
| Q2 24 | $343.7M | $233.5M | ||
| Q1 24 | $323.0M | $234.5M |
| Q4 25 | $-2.6M | $-80.6M | ||
| Q3 25 | $-3.0M | $-69.8M | ||
| Q2 25 | $-7.1M | $-62.6M | ||
| Q1 25 | $-11.6M | $-71.3M | ||
| Q4 24 | $33.5M | $-138.0M | ||
| Q3 24 | $8.9M | $-391.4M | ||
| Q2 24 | $7.6M | $-576.7M | ||
| Q1 24 | $31.8M | $-539.7M |
| Q4 25 | 79.8% | — | ||
| Q3 25 | 80.5% | — | ||
| Q2 25 | 80.8% | — | ||
| Q1 25 | 81.2% | — | ||
| Q4 24 | 81.6% | — | ||
| Q3 24 | 82.0% | — | ||
| Q2 24 | 81.0% | — | ||
| Q1 24 | 83.0% | — |
| Q4 25 | -4.4% | -3.1% | ||
| Q3 25 | -5.2% | 4.1% | ||
| Q2 25 | -5.8% | 6.9% | ||
| Q1 25 | -8.1% | 4.2% | ||
| Q4 24 | -6.0% | -17.8% | ||
| Q3 24 | -2.1% | -146.7% | ||
| Q2 24 | -6.5% | -224.4% | ||
| Q1 24 | -8.6% | -207.4% |
| Q4 25 | -0.6% | -32.7% | ||
| Q3 25 | -0.7% | -28.4% | ||
| Q2 25 | -1.8% | -25.9% | ||
| Q1 25 | -3.2% | -30.8% | ||
| Q4 24 | 9.3% | -59.4% | ||
| Q3 24 | 2.5% | -169.8% | ||
| Q2 24 | 2.2% | -247.0% | ||
| Q1 24 | 9.8% | -230.1% |
| Q4 25 | $-0.03 | $-4.88 | ||
| Q3 25 | $-0.03 | $-4.23 | ||
| Q2 25 | $0.02 | $-3.81 | ||
| Q1 25 | $-0.11 | $-4.38 | ||
| Q4 24 | $-0.06 | $-8.49 | ||
| Q3 24 | $0.08 | $-24.25 | ||
| Q2 24 | $0.37 | $-35.78 | ||
| Q1 24 | $0.00 | $-33.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $16.8M |
| Total DebtLower is stronger | $1.8B | $4.6B |
| Stockholders' EquityBook value | $3.8B | $-173.9M |
| Total Assets | $10.1B | $4.9B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $16.8M | ||
| Q3 25 | $1.1B | $39.2M | ||
| Q2 25 | $1.0B | $56.4M | ||
| Q1 25 | $1.0B | $23.1M | ||
| Q4 24 | $1.6B | $16.8M | ||
| Q3 24 | $853.5M | $86.6M | ||
| Q2 24 | $985.9M | $48.8M | ||
| Q1 24 | $952.5M | $58.7M |
| Q4 25 | $1.8B | $4.6B | ||
| Q3 25 | $1.9B | $4.5B | ||
| Q2 25 | $1.7B | $4.5B | ||
| Q1 25 | $1.7B | $4.5B | ||
| Q4 24 | $1.7B | $4.5B | ||
| Q3 24 | $914.8M | $4.5B | ||
| Q2 24 | $914.0M | $4.5B | ||
| Q1 24 | $1.1B | $4.5B |
| Q4 25 | $3.8B | $-173.9M | ||
| Q3 25 | $3.9B | $-101.8M | ||
| Q2 25 | $3.9B | $-39.9M | ||
| Q1 25 | $3.9B | $14.8M | ||
| Q4 24 | $3.8B | $84.0M | ||
| Q3 24 | $4.0B | $207.6M | ||
| Q2 24 | $4.1B | $603.4M | ||
| Q1 24 | $4.1B | $1.2B |
| Q4 25 | $10.1B | $4.9B | ||
| Q3 25 | $10.2B | $5.0B | ||
| Q2 25 | $10.1B | $5.1B | ||
| Q1 25 | $9.6B | $5.1B | ||
| Q4 24 | $9.7B | $5.2B | ||
| Q3 24 | $9.0B | $5.3B | ||
| Q2 24 | $9.2B | $5.7B | ||
| Q1 24 | $9.1B | $6.4B |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | 304.87× | ||
| Q4 24 | 0.44× | 53.67× | ||
| Q3 24 | 0.23× | 21.73× | ||
| Q2 24 | 0.22× | 7.48× | ||
| Q1 24 | 0.28× | 3.85× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $105.3M | $66.3M |
| Free Cash FlowOCF − Capex | $103.8M | $36.4M |
| FCF MarginFCF / Revenue | 25.0% | 14.8% |
| Capex IntensityCapex / Revenue | 0.4% | 12.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $-12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $66.3M | ||
| Q3 25 | $96.9M | $19.9M | ||
| Q2 25 | $83.8M | $61.2M | ||
| Q1 25 | $99.5M | $-30.1M | ||
| Q4 24 | $78.7M | $-33.4M | ||
| Q3 24 | $88.6M | $72.8M | ||
| Q2 24 | $78.6M | $18.5M | ||
| Q1 24 | $66.8M | $49.7M |
| Q4 25 | $103.8M | $36.4M | ||
| Q3 25 | $95.6M | $-16.3M | ||
| Q2 25 | $81.0M | $36.6M | ||
| Q1 25 | $98.4M | $-68.9M | ||
| Q4 24 | $78.3M | $-63.8M | ||
| Q3 24 | $88.6M | $41.1M | ||
| Q2 24 | $78.4M | $-7.0M | ||
| Q1 24 | $66.8M | $19.2M |
| Q4 25 | 25.0% | 14.8% | ||
| Q3 25 | 24.1% | -6.6% | ||
| Q2 25 | 21.1% | 15.2% | ||
| Q1 25 | 27.5% | -29.8% | ||
| Q4 24 | 21.6% | -27.5% | ||
| Q3 24 | 24.7% | 17.8% | ||
| Q2 24 | 22.8% | -3.0% | ||
| Q1 24 | 20.7% | 8.2% |
| Q4 25 | 0.4% | 12.1% | ||
| Q3 25 | 0.3% | 14.7% | ||
| Q2 25 | 0.7% | 10.2% | ||
| Q1 25 | 0.3% | 16.8% | ||
| Q4 24 | 0.1% | 13.1% | ||
| Q3 24 | 0.0% | 13.8% | ||
| Q2 24 | 0.1% | 10.9% | ||
| Q1 24 | 0.0% | 13.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BILL
| Accounts Payable And Accounts Receivable Solutions | $185.9M | 45% |
| Spend And Expense Interchange Revenue | $166.5M | 40% |
| Interest On Funds Held For Customers | $39.5M | 10% |
| Embedded And Other Solutions | $22.8M | 5% |
CTEV
Segment breakdown not available.
