Shares of Bill Holdings Inc. BILL tumbled 29% after hours on Thursday after the financial software firm cut its full-year sales outlook, as inflation and consumer uncertainty pose a bigger threat to its smaller-business customers. The company, whose software helps small businesses handle payments, invoices and expenses, said it expected full-year revenue of $1.205 billion to $1.245 billion and adjusted per-share profit of $1.64 to $1.97. That compares to a forecast given in August for around $1.29 billion to $1.31 billion in sales and adjusted earnings per share of $1.82 to $1.97. The company also forecast fiscal second-quarter sales of $293 million to $303 million, and adjusted earnings per share of 35 cents to 44 cents, below expectations. Bill reported fiscal first-quarter adjusted earnings per share of 54 cents, above FactSet estimates for 50 cents, on revenue of $305 million, topping expectations for $298.7 million. Chief Financial Officer John Rettig noted a “challenging macro environment,” and added: “We are carefully navigating the current environment while continuing to invest behind the long-term opportunity to serve millions of SMBs.”

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