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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $349.1M, roughly 1.2× PROCORE TECHNOLOGIES, INC.). BILL Holdings, Inc. runs the higher net margin — -0.6% vs -10.8%, a 10.1% gap on every dollar of revenue. On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs 14.4%). PROCORE TECHNOLOGIES, INC. produced more free cash flow last quarter ($109.2M vs $103.8M). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% CAGR vs 13.3%).
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.
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
BILL vs PCOR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $349.1M |
| Net Profit | $-2.6M | $-37.6M |
| Gross Margin | 79.8% | 80.1% |
| Operating Margin | -4.4% | -12.3% |
| Net Margin | -0.6% | -10.8% |
| Revenue YoY | 14.4% | 15.6% |
| Net Profit YoY | -107.7% | 39.6% |
| EPS (diluted) | $-0.03 | $-0.25 |
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 | $349.1M | ||
| Q3 25 | $395.7M | $338.9M | ||
| Q2 25 | $383.3M | $323.9M | ||
| Q1 25 | $358.2M | $310.6M | ||
| Q4 24 | $362.6M | $302.0M | ||
| Q3 24 | $358.4M | $295.9M | ||
| Q2 24 | $343.7M | $284.3M | ||
| Q1 24 | $323.0M | $269.4M |
| Q4 25 | $-2.6M | $-37.6M | ||
| Q3 25 | $-3.0M | $-9.1M | ||
| Q2 25 | $-7.1M | $-21.1M | ||
| Q1 25 | $-11.6M | $-33.0M | ||
| Q4 24 | $33.5M | $-62.3M | ||
| Q3 24 | $8.9M | $-26.4M | ||
| Q2 24 | $7.6M | $-6.3M | ||
| Q1 24 | $31.8M | $-11.0M |
| Q4 25 | 79.8% | 80.1% | ||
| Q3 25 | 80.5% | 79.7% | ||
| Q2 25 | 80.8% | 79.1% | ||
| Q1 25 | 81.2% | 79.1% | ||
| Q4 24 | 81.6% | 81.2% | ||
| Q3 24 | 82.0% | 81.4% | ||
| Q2 24 | 81.0% | 83.1% | ||
| Q1 24 | 83.0% | 83.0% |
| Q4 25 | -4.4% | -12.3% | ||
| Q3 25 | -5.2% | -4.4% | ||
| Q2 25 | -5.8% | -9.3% | ||
| Q1 25 | -8.1% | -11.7% | ||
| Q4 24 | -6.0% | -21.9% | ||
| Q3 24 | -2.1% | -12.3% | ||
| Q2 24 | -6.5% | -5.2% | ||
| Q1 24 | -8.6% | -7.0% |
| Q4 25 | -0.6% | -10.8% | ||
| Q3 25 | -0.7% | -2.7% | ||
| Q2 25 | -1.8% | -6.5% | ||
| Q1 25 | -3.2% | -10.6% | ||
| Q4 24 | 9.3% | -20.6% | ||
| Q3 24 | 2.5% | -8.9% | ||
| Q2 24 | 2.2% | -2.2% | ||
| Q1 24 | 9.8% | -4.1% |
| Q4 25 | $-0.03 | $-0.25 | ||
| Q3 25 | $-0.03 | $-0.06 | ||
| Q2 25 | $0.02 | $-0.14 | ||
| Q1 25 | $-0.11 | $-0.22 | ||
| Q4 24 | $-0.06 | $-0.42 | ||
| Q3 24 | $0.08 | $-0.18 | ||
| Q2 24 | $0.37 | $-0.04 | ||
| Q1 24 | $0.00 | $-0.08 |
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 | $768.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $1.3B |
| Total Assets | $10.1B | $2.2B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $768.5M | ||
| Q3 25 | $1.1B | $684.0M | ||
| Q2 25 | $1.0B | $620.9M | ||
| Q1 25 | $1.0B | $566.7M | ||
| Q4 24 | $1.6B | $775.4M | ||
| Q3 24 | $853.5M | $756.9M | ||
| Q2 24 | $985.9M | $735.4M | ||
| Q1 24 | $952.5M | $744.6M |
| 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 | $1.3B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.9B | $1.2B | ||
| Q1 25 | $3.9B | $1.2B | ||
| Q4 24 | $3.8B | $1.3B | ||
| Q3 24 | $4.0B | $1.3B | ||
| Q2 24 | $4.1B | $1.3B | ||
| Q1 24 | $4.1B | $1.2B |
| Q4 25 | $10.1B | $2.2B | ||
| Q3 25 | $10.2B | $2.1B | ||
| Q2 25 | $10.1B | $2.0B | ||
| Q1 25 | $9.6B | $1.9B | ||
| Q4 24 | $9.7B | $2.1B | ||
| Q3 24 | $9.0B | $2.0B | ||
| Q2 24 | $9.2B | $2.0B | ||
| Q1 24 | $9.1B | $1.9B |
| 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 | $114.9M |
| Free Cash FlowOCF − Capex | $103.8M | $109.2M |
| FCF MarginFCF / Revenue | 25.0% | 31.3% |
| Capex IntensityCapex / Revenue | 0.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $114.9M | ||
| Q3 25 | $96.9M | $88.5M | ||
| Q2 25 | $83.8M | $30.8M | ||
| Q1 25 | $99.5M | $66.0M | ||
| Q4 24 | $78.7M | $29.1M | ||
| Q3 24 | $88.6M | $39.3M | ||
| Q2 24 | $78.6M | $58.7M | ||
| Q1 24 | $66.8M | $69.1M |
| Q4 25 | $103.8M | $109.2M | ||
| Q3 25 | $95.6M | $83.1M | ||
| Q2 25 | $81.0M | $27.9M | ||
| Q1 25 | $98.4M | $62.0M | ||
| Q4 24 | $78.3M | $17.4M | ||
| Q3 24 | $88.6M | $35.7M | ||
| Q2 24 | $78.4M | $56.8M | ||
| Q1 24 | $66.8M | $67.1M |
| Q4 25 | 25.0% | 31.3% | ||
| Q3 25 | 24.1% | 24.5% | ||
| Q2 25 | 21.1% | 8.6% | ||
| Q1 25 | 27.5% | 20.0% | ||
| Q4 24 | 21.6% | 5.8% | ||
| Q3 24 | 24.7% | 12.1% | ||
| Q2 24 | 22.8% | 20.0% | ||
| Q1 24 | 20.7% | 24.9% |
| Q4 25 | 0.4% | 1.6% | ||
| Q3 25 | 0.3% | 1.6% | ||
| Q2 25 | 0.7% | 0.9% | ||
| Q1 25 | 0.3% | 1.3% | ||
| Q4 24 | 0.1% | 3.9% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | 0.1% | 0.7% | ||
| Q1 24 | 0.0% | 0.8% |
| 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% |
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
