BARINGTON CAPITAL GROUP CALLS FOR CHANGES AT BILL HOLDINGS, INC. TO IMPROVE LONG-TERM SHAREHOLDER VALUE

Recommends the Company Implement a Comprehensive Cost Reduction Plan and Explore All Strategic Alternatives, Including a Potential Sale, Merger or other Business Combination

NEW YORK, Dec. 4, 2025 /PRNewswire/ -- Barington Capital Group, L.P., a shareholder of BILL Holdings, Inc. (NYSE: BILL) ("BILL" or the "Company"), announced today that it has sent a letter to Allie Kline, the Lead Independent Director of BILL, urging the Company to reduce operating costs and calling on the Board to explore all strategic alternatives in light of BILL's slowing fundamentals, inability to deliver operating profitability and prolonged share price underperformance.

Barington believes BILL is well positioned in the growing B2B financial automation sector.  However, the Company's slowing monetization trends coupled with intensifying industry competition have caused the market to question whether the Company can remain a long-term, independent leader. Barington therefore urges the Board to ensure that management operates the business with greater cost discipline, so that BILL can better leverage its revenue growth into increased profitability and stronger cash flows.

In addition, given strong private market valuations of companies with business models and growth profiles similar to the Company and the public market's unwillingness to assign a fair valuation to BILL's technology leadership and large transaction network, Barington urges the Board to engage a financial advisor and form a special committee of independent directors to explore all strategic alternatives for the Company, including a potential sale, merger or other business combination. Barington believes BILL would be an extremely attractive acquisition candidate for both strategic and financial buyers.

The full text of Barington's letter to Ms. Kline is available at https://barington.com/bill 

About Barington Capital Group, L.P.

Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm established by James Mitarotonda in January 2000.  Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value when substantive improvements are made to their operations, corporate strategy, capital allocation and corporate governance.  Barington's investment team, advisors and network of industry experts draw upon their extensive strategic, operating and boardroom experience to assist companies in designing and implementing initiatives to improve long-term shareholder value.

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SOURCE Barington Capital Group, L.P.