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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and USANA HEALTH SCIENCES INC (USNA). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $226.2M, roughly 1.8× USANA HEALTH SCIENCES INC). USANA HEALTH SCIENCES INC runs the higher net margin — 0.1% vs -0.6%, a 0.7% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -10.0%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 3.1%).
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.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
BILL vs USNA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $226.2M |
| Net Profit | $-2.6M | $180.0K |
| Gross Margin | 79.8% | 78.2% |
| Operating Margin | -4.4% | 1.7% |
| Net Margin | -0.6% | 0.1% |
| Revenue YoY | 14.4% | -10.0% |
| Net Profit YoY | -107.7% | -74.0% |
| EPS (diluted) | $-0.03 | $-0.10 |
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 | $226.2M | ||
| Q3 25 | $395.7M | $213.7M | ||
| Q2 25 | $383.3M | $235.8M | ||
| Q1 25 | $358.2M | $249.5M | ||
| Q4 24 | $362.6M | $213.6M | ||
| Q3 24 | $358.4M | $200.2M | ||
| Q2 24 | $343.7M | $212.9M | ||
| Q1 24 | $323.0M | — |
| Q4 25 | $-2.6M | $180.0K | ||
| Q3 25 | $-3.0M | $-6.5M | ||
| Q2 25 | $-7.1M | $9.7M | ||
| Q1 25 | $-11.6M | $9.4M | ||
| Q4 24 | $33.5M | $4.5M | ||
| Q3 24 | $8.9M | $10.6M | ||
| Q2 24 | $7.6M | $10.4M | ||
| Q1 24 | $31.8M | — |
| Q4 25 | 79.8% | 78.2% | ||
| Q3 25 | 80.5% | 77.2% | ||
| Q2 25 | 80.8% | 78.7% | ||
| Q1 25 | 81.2% | 79.0% | ||
| Q4 24 | 81.6% | 82.0% | ||
| Q3 24 | 82.0% | 80.4% | ||
| Q2 24 | 81.0% | 81.1% | ||
| Q1 24 | 83.0% | — |
| Q4 25 | -4.4% | 1.7% | ||
| Q3 25 | -5.2% | 0.6% | ||
| Q2 25 | -5.8% | 7.1% | ||
| Q1 25 | -8.1% | 6.3% | ||
| Q4 24 | -6.0% | 3.8% | ||
| Q3 24 | -2.1% | 7.8% | ||
| Q2 24 | -6.5% | 8.4% | ||
| Q1 24 | -8.6% | — |
| Q4 25 | -0.6% | 0.1% | ||
| Q3 25 | -0.7% | -3.1% | ||
| Q2 25 | -1.8% | 4.1% | ||
| Q1 25 | -3.2% | 3.8% | ||
| Q4 24 | 9.3% | 2.1% | ||
| Q3 24 | 2.5% | 5.3% | ||
| Q2 24 | 2.2% | 4.9% | ||
| Q1 24 | 9.8% | — |
| Q4 25 | $-0.03 | $-0.10 | ||
| Q3 25 | $-0.03 | $-0.36 | ||
| Q2 25 | $0.02 | $0.52 | ||
| Q1 25 | $-0.11 | $0.49 | ||
| Q4 24 | $-0.06 | $0.23 | ||
| Q3 24 | $0.08 | $0.56 | ||
| Q2 24 | $0.37 | $0.54 | ||
| Q1 24 | $0.00 | — |
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 | $158.4M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | — |
| Total Assets | $10.1B | $742.9M |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $158.4M | ||
| Q3 25 | $1.1B | $145.3M | ||
| Q2 25 | $1.0B | $151.3M | ||
| Q1 25 | $1.0B | $179.6M | ||
| Q4 24 | $1.6B | $181.8M | ||
| Q3 24 | $853.5M | $364.9M | ||
| Q2 24 | $985.9M | $332.4M | ||
| Q1 24 | $952.5M | — |
| 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 | — | ||
| Q3 25 | $3.9B | $528.1M | ||
| Q2 25 | $3.9B | $531.1M | ||
| Q1 25 | $3.9B | $529.8M | ||
| Q4 24 | $3.8B | $532.1M | ||
| Q3 24 | $4.0B | $533.1M | ||
| Q2 24 | $4.1B | $512.2M | ||
| Q1 24 | $4.1B | — |
| Q4 25 | $10.1B | $742.9M | ||
| Q3 25 | $10.2B | $726.6M | ||
| Q2 25 | $10.1B | $734.5M | ||
| Q1 25 | $9.6B | $746.6M | ||
| Q4 24 | $9.7B | $748.2M | ||
| Q3 24 | $9.0B | $671.3M | ||
| Q2 24 | $9.2B | $631.4M | ||
| Q1 24 | $9.1B | — |
| 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 | — |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | — | ||
| Q3 25 | $96.9M | $-2.0M | ||
| Q2 25 | $83.8M | $12.2M | ||
| Q1 25 | $99.5M | $15.5M | ||
| Q4 24 | $78.7M | $5.8M | ||
| Q3 24 | $88.6M | $29.5M | ||
| Q2 24 | $78.6M | $8.0M | ||
| Q1 24 | $66.8M | — |
| Q4 25 | $103.8M | — | ||
| Q3 25 | $95.6M | $-5.2M | ||
| Q2 25 | $81.0M | $7.2M | ||
| Q1 25 | $98.4M | $12.7M | ||
| Q4 24 | $78.3M | $4.0M | ||
| Q3 24 | $88.6M | $27.1M | ||
| Q2 24 | $78.4M | $5.3M | ||
| Q1 24 | $66.8M | — |
| Q4 25 | 25.0% | — | ||
| Q3 25 | 24.1% | -2.4% | ||
| Q2 25 | 21.1% | 3.0% | ||
| Q1 25 | 27.5% | 5.1% | ||
| Q4 24 | 21.6% | 1.9% | ||
| Q3 24 | 24.7% | 13.6% | ||
| Q2 24 | 22.8% | 2.5% | ||
| Q1 24 | 20.7% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | 1.5% | ||
| Q2 25 | 0.7% | 2.1% | ||
| Q1 25 | 0.3% | 1.1% | ||
| Q4 24 | 0.1% | 0.8% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | 0.1% | 1.3% | ||
| Q1 24 | 0.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | 2.35× | 1.29× | ||
| Q3 24 | 9.94× | 2.78× | ||
| Q2 24 | 10.35× | 0.77× | ||
| 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% |
USNA
Segment breakdown not available.
