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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and RADIANT LOGISTICS, INC (RLGT). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $232.1M, roughly 1.8× RADIANT LOGISTICS, INC). RADIANT LOGISTICS, INC runs the higher net margin — 2.3% vs -0.6%, a 2.9% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -12.3%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $11.6M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 12.1%).
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.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
BILL vs RLGT — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $232.1M |
| Net Profit | $-2.6M | $5.3M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 3.2% |
| Net Margin | -0.6% | 2.3% |
| Revenue YoY | 14.4% | -12.3% |
| Net Profit YoY | -107.7% | -18.0% |
| EPS (diluted) | $-0.03 | $0.11 |
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 | $232.1M | ||
| Q3 25 | $395.7M | $226.7M | ||
| Q2 25 | $383.3M | $220.6M | ||
| Q1 25 | $358.2M | $214.0M | ||
| Q4 24 | $362.6M | $264.5M | ||
| Q3 24 | $358.4M | $203.6M | ||
| Q2 24 | $343.7M | $206.0M | ||
| Q1 24 | $323.0M | $184.6M |
| Q4 25 | $-2.6M | $5.3M | ||
| Q3 25 | $-3.0M | $1.3M | ||
| Q2 25 | $-7.1M | $4.9M | ||
| Q1 25 | $-11.6M | $2.5M | ||
| Q4 24 | $33.5M | $6.5M | ||
| Q3 24 | $8.9M | $3.4M | ||
| Q2 24 | $7.6M | $4.8M | ||
| Q1 24 | $31.8M | $-703.0K |
| 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% | 3.2% | ||
| Q3 25 | -5.2% | 0.9% | ||
| Q2 25 | -5.8% | 2.4% | ||
| Q1 25 | -8.1% | 1.6% | ||
| Q4 24 | -6.0% | 3.3% | ||
| Q3 24 | -2.1% | 1.9% | ||
| Q2 24 | -6.5% | 2.4% | ||
| Q1 24 | -8.6% | -0.5% |
| Q4 25 | -0.6% | 2.3% | ||
| Q3 25 | -0.7% | 0.6% | ||
| Q2 25 | -1.8% | 2.2% | ||
| Q1 25 | -3.2% | 1.2% | ||
| Q4 24 | 9.3% | 2.4% | ||
| Q3 24 | 2.5% | 1.7% | ||
| Q2 24 | 2.2% | 2.3% | ||
| Q1 24 | 9.8% | -0.4% |
| Q4 25 | $-0.03 | $0.11 | ||
| Q3 25 | $-0.03 | $0.03 | ||
| Q2 25 | $0.02 | $0.10 | ||
| Q1 25 | $-0.11 | $0.05 | ||
| Q4 24 | $-0.06 | $0.13 | ||
| Q3 24 | $0.08 | $0.07 | ||
| Q2 24 | $0.37 | $0.11 | ||
| Q1 24 | $0.00 | $-0.02 |
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 | $31.9M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $229.8M |
| Total Assets | $10.1B | $439.4M |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $31.9M | ||
| Q3 25 | $1.1B | $28.1M | ||
| Q2 25 | $1.0B | $22.9M | ||
| Q1 25 | $1.0B | $19.0M | ||
| Q4 24 | $1.6B | $19.9M | ||
| Q3 24 | $853.5M | $10.4M | ||
| Q2 24 | $985.9M | $24.9M | ||
| Q1 24 | $952.5M | $31.2M |
| 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 | $229.8M | ||
| Q3 25 | $3.9B | $225.7M | ||
| Q2 25 | $3.9B | $226.0M | ||
| Q1 25 | $3.9B | $218.2M | ||
| Q4 24 | $3.8B | $214.4M | ||
| Q3 24 | $4.0B | $212.4M | ||
| Q2 24 | $4.1B | $209.4M | ||
| Q1 24 | $4.1B | $206.0M |
| Q4 25 | $10.1B | $439.4M | ||
| Q3 25 | $10.2B | $445.3M | ||
| Q2 25 | $10.1B | $426.8M | ||
| Q1 25 | $9.6B | $414.5M | ||
| Q4 24 | $9.7B | $386.8M | ||
| Q3 24 | $9.0B | $375.3M | ||
| Q2 24 | $9.2B | $371.2M | ||
| Q1 24 | $9.1B | $364.0M |
| 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 | $12.4M |
| Free Cash FlowOCF − Capex | $103.8M | $11.6M |
| FCF MarginFCF / Revenue | 25.0% | 5.0% |
| Capex IntensityCapex / Revenue | 0.4% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $12.4M | ||
| Q3 25 | $96.9M | $2.5M | ||
| Q2 25 | $83.8M | $3.1M | ||
| Q1 25 | $99.5M | $-5.7M | ||
| Q4 24 | $78.7M | $15.7M | ||
| Q3 24 | $88.6M | $205.0K | ||
| Q2 24 | $78.6M | $1.3M | ||
| Q1 24 | $66.8M | $3.9M |
| Q4 25 | $103.8M | $11.6M | ||
| Q3 25 | $95.6M | $977.0K | ||
| Q2 25 | $81.0M | $2.2M | ||
| Q1 25 | $98.4M | $-6.4M | ||
| Q4 24 | $78.3M | $14.1M | ||
| Q3 24 | $88.6M | $-1.9M | ||
| Q2 24 | $78.4M | $-185.0K | ||
| Q1 24 | $66.8M | $1.8M |
| Q4 25 | 25.0% | 5.0% | ||
| Q3 25 | 24.1% | 0.4% | ||
| Q2 25 | 21.1% | 1.0% | ||
| Q1 25 | 27.5% | -3.0% | ||
| Q4 24 | 21.6% | 5.3% | ||
| Q3 24 | 24.7% | -0.9% | ||
| Q2 24 | 22.8% | -0.1% | ||
| Q1 24 | 20.7% | 1.0% |
| Q4 25 | 0.4% | 0.3% | ||
| Q3 25 | 0.3% | 0.7% | ||
| Q2 25 | 0.7% | 0.4% | ||
| Q1 25 | 0.3% | 0.3% | ||
| Q4 24 | 0.1% | 0.6% | ||
| Q3 24 | 0.0% | 1.0% | ||
| Q2 24 | 0.1% | 0.7% | ||
| Q1 24 | 0.0% | 1.2% |
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 1.90× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | -2.26× | ||
| Q4 24 | 2.35× | 2.43× | ||
| Q3 24 | 9.94× | 0.06× | ||
| Q2 24 | 10.35× | 0.26× | ||
| 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% |
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
