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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Dolby Laboratories, Inc. (DLB). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $346.7M, roughly 1.2× Dolby Laboratories, Inc.). Dolby Laboratories, Inc. runs the higher net margin — 15.4% vs -0.6%, a 16.0% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -2.9%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $50.2M). 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.
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
BILL vs DLB — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $346.7M |
| Net Profit | $-2.6M | $53.3M |
| Gross Margin | 79.8% | 87.5% |
| Operating Margin | -4.4% | 17.9% |
| Net Margin | -0.6% | 15.4% |
| Revenue YoY | 14.4% | -2.9% |
| Net Profit YoY | -107.7% | -21.4% |
| EPS (diluted) | $-0.03 | $0.55 |
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 | $346.7M | ||
| Q3 25 | $395.7M | $307.0M | ||
| Q2 25 | $383.3M | $315.5M | ||
| Q1 25 | $358.2M | $369.6M | ||
| Q4 24 | $362.6M | $357.0M | ||
| Q3 24 | $358.4M | $304.8M | ||
| Q2 24 | $343.7M | $288.8M | ||
| Q1 24 | $323.0M | $364.5M |
| Q4 25 | $-2.6M | $53.3M | ||
| Q3 25 | $-3.0M | $49.3M | ||
| Q2 25 | $-7.1M | $46.1M | ||
| Q1 25 | $-11.6M | $91.8M | ||
| Q4 24 | $33.5M | $67.8M | ||
| Q3 24 | $8.9M | $58.6M | ||
| Q2 24 | $7.6M | $38.4M | ||
| Q1 24 | $31.8M | $97.8M |
| Q4 25 | 79.8% | 87.5% | ||
| Q3 25 | 80.5% | 87.1% | ||
| Q2 25 | 80.8% | 86.1% | ||
| Q1 25 | 81.2% | 90.3% | ||
| Q4 24 | 81.6% | 88.6% | ||
| Q3 24 | 82.0% | 88.8% | ||
| Q2 24 | 81.0% | 87.7% | ||
| Q1 24 | 83.0% | 89.4% |
| Q4 25 | -4.4% | 17.9% | ||
| Q3 25 | -5.2% | 9.7% | ||
| Q2 25 | -5.8% | 15.1% | ||
| Q1 25 | -8.1% | 29.2% | ||
| Q4 24 | -6.0% | 22.4% | ||
| Q3 24 | -2.1% | 15.2% | ||
| Q2 24 | -6.5% | 12.7% | ||
| Q1 24 | -8.6% | 29.9% |
| Q4 25 | -0.6% | 15.4% | ||
| Q3 25 | -0.7% | 16.1% | ||
| Q2 25 | -1.8% | 14.6% | ||
| Q1 25 | -3.2% | 24.8% | ||
| Q4 24 | 9.3% | 19.0% | ||
| Q3 24 | 2.5% | 19.2% | ||
| Q2 24 | 2.2% | 13.3% | ||
| Q1 24 | 9.8% | 26.8% |
| Q4 25 | $-0.03 | $0.55 | ||
| Q3 25 | $-0.03 | $0.50 | ||
| Q2 25 | $0.02 | $0.48 | ||
| Q1 25 | $-0.11 | $0.94 | ||
| Q4 24 | $-0.06 | $0.70 | ||
| Q3 24 | $0.08 | $0.59 | ||
| Q2 24 | $0.37 | $0.40 | ||
| Q1 24 | $0.00 | $1.01 |
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 | $644.6M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $2.6B |
| Total Assets | $10.1B | $3.2B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $644.6M | ||
| Q3 25 | $1.1B | $702.6M | ||
| Q2 25 | $1.0B | $699.3M | ||
| Q1 25 | $1.0B | $626.6M | ||
| Q4 24 | $1.6B | $520.8M | ||
| Q3 24 | $853.5M | $482.0M | ||
| Q2 24 | $985.9M | $869.0M | ||
| Q1 24 | $952.5M | $825.4M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $2.6B | ||
| Q3 25 | $3.9B | $2.6B | ||
| Q2 25 | $3.9B | $2.6B | ||
| Q1 25 | $3.9B | $2.6B | ||
| Q4 24 | $3.8B | $2.5B | ||
| Q3 24 | $4.0B | $2.5B | ||
| Q2 24 | $4.1B | $2.4B | ||
| Q1 24 | $4.1B | $2.4B |
| Q4 25 | $10.1B | $3.2B | ||
| Q3 25 | $10.2B | $3.2B | ||
| Q2 25 | $10.1B | $3.2B | ||
| Q1 25 | $9.6B | $3.2B | ||
| Q4 24 | $9.7B | $3.2B | ||
| Q3 24 | $9.0B | $3.1B | ||
| Q2 24 | $9.2B | $3.0B | ||
| Q1 24 | $9.1B | $3.0B |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | 0.22× | — | ||
| Q1 24 | 0.28× | — |
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 | $54.8M |
| Free Cash FlowOCF − Capex | $103.8M | $50.2M |
| FCF MarginFCF / Revenue | 25.0% | 14.5% |
| Capex IntensityCapex / Revenue | 0.4% | 1.3% |
| Cash ConversionOCF / Net Profit | — | 1.03× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $715.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $54.8M | ||
| Q3 25 | $96.9M | $472.2M | ||
| Q2 25 | $83.8M | $67.7M | ||
| Q1 25 | $99.5M | $174.9M | ||
| Q4 24 | $78.7M | $106.8M | ||
| Q3 24 | $88.6M | $327.3M | ||
| Q2 24 | $78.6M | $21.3M | ||
| Q1 24 | $66.8M | $181.4M |
| Q4 25 | $103.8M | $50.2M | ||
| Q3 25 | $95.6M | $435.9M | ||
| Q2 25 | $81.0M | $61.3M | ||
| Q1 25 | $98.4M | $168.0M | ||
| Q4 24 | $78.3M | $100.0M | ||
| Q3 24 | $88.6M | $297.2M | ||
| Q2 24 | $78.4M | $13.7M | ||
| Q1 24 | $66.8M | $172.5M |
| Q4 25 | 25.0% | 14.5% | ||
| Q3 25 | 24.1% | 142.0% | ||
| Q2 25 | 21.1% | 19.4% | ||
| Q1 25 | 27.5% | 45.5% | ||
| Q4 24 | 21.6% | 28.0% | ||
| Q3 24 | 24.7% | 97.5% | ||
| Q2 24 | 22.8% | 4.7% | ||
| Q1 24 | 20.7% | 47.3% |
| Q4 25 | 0.4% | 1.3% | ||
| Q3 25 | 0.3% | 11.8% | ||
| Q2 25 | 0.7% | 2.0% | ||
| Q1 25 | 0.3% | 1.9% | ||
| Q4 24 | 0.1% | 1.9% | ||
| Q3 24 | 0.0% | 9.8% | ||
| Q2 24 | 0.1% | 2.6% | ||
| Q1 24 | 0.0% | 2.4% |
| Q4 25 | — | 1.03× | ||
| Q3 25 | — | 9.57× | ||
| Q2 25 | — | 1.47× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | 2.35× | 1.57× | ||
| Q3 24 | 9.94× | 5.59× | ||
| Q2 24 | 10.35× | 0.55× | ||
| Q1 24 | 2.10× | 1.85× |
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% |
DLB
| Licensing Brodcast Revenue | $100.3M | 29% |
| Licensing Mobile Revenue | $74.9M | 22% |
| Licensing Other Revenue | $70.2M | 20% |
| Licensing CE Revenue | $45.6M | 13% |
| Licensing PC Revenue | $28.7M | 8% |
| Products And Services | $26.9M | 8% |
