BILL Holdings Files 2024 10-K

TL;DR

BILL Holdings filed its 2024 10-K. All systems go.

AI Summary

BILL Holdings, Inc. filed its 10-K for the fiscal year ending June 30, 2024. The company, formerly known as Bill.com Holdings, Inc., reported its financial performance and business operations. The filing details its San Jose, California-based operations and its fiscal year end of June 30. The company's IRS number is 832661725 and its SEC file number is 001-39149.

Why It Matters

This 10-K filing provides a comprehensive overview of BILL Holdings' financial health and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific risk factors or financial performance details that would indicate a high or medium risk level.

Key Numbers

• 2024-06-30 — Fiscal Year End (The end date for the reporting period covered by the 10-K.)
• 2024-08-23 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• BILL Holdings, Inc. (company) — Filer
• Bill.com Holdings, Inc. (company) — Former company name
• 2024-06-30 (date) — Fiscal year end
• 2024-08-23 (date) — Filing date
• 6220 AMERICA CENTER DR. SUITE 100 (address) — Business and mailing address
• SAN JOSE, CA 95002 (address) — Business and mailing address
• 001-39149 (other) — SEC file number
• 832661725 (other) — IRS number

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 par value BILL The New York Stock Excha
• $292 billion — nesses used our solutions and processed $292 billion in Total Payment Volume (TPV) during fi

Filing Documents

• bill-20240630.htm (10-K) — 2466KB
• bill-20240630xex46.htm (EX-4.6) — 133KB
• bill-20240630xex191.htm (EX-19.1) — 51KB
• bill-20240630xex211.htm (EX-21.1) — 44KB
• bill-20240630xex231.htm (EX-23.1) — 2KB
• bill-20240630xex232.htm (EX-23.2) — 5KB
• bill-20240630xex311.htm (EX-31.1) — 11KB
• bill-20240630xex312.htm (EX-31.2) — 11KB
• bill-20240630xex321.htm (EX-32.1) — 5KB
• bill-20240630xex322.htm (EX-32.2) — 5KB
• bill-20240630xex971.htm (EX-97.1) — 70KB
• bill-20240630_g1.jpg (GRAPHIC) — 20KB
• bill-20240630_g2.jpg (GRAPHIC) — 55KB
• image_0.jpg (GRAPHIC) — 1KB
• 0001786352-24-000035.txt ( ) — 13176KB
• bill-20240630.xsd (EX-101.SCH) — 92KB
• bill-20240630_cal.xml (EX-101.CAL) — 142KB
• bill-20240630_def.xml (EX-101.DEF) — 396KB
• bill-20240630_lab.xml (EX-101.LAB) — 1002KB
• bill-20240630_pre.xml (EX-101.PRE) — 731KB
• bill-20240630_htm.xml (XML) — 1944KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 55 Item 1C. Cybersecurity 56 Item 2.

Properties

Properties 57 Item 3.

Legal Proceedings

Legal Proceedings 57 Item 4. Mine Safety Disclosures 58 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 59 Item 6. Reserved 60 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 61 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 78 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 81 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 125 Item 9A.

Controls and Procedures

Controls and Procedures 125 Item 9B. Other Information 126

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 130 PART III Item 10. Directors, Executive Officers and Corporate Governance 127 Item 11.

Executive Compensation

Executive Compensation 127 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127 Item 13. Certain Relationships and Related Transactions, and Director Independence 127 Item 14. Principal Accountant Fees and Services 127 PART IV Item 15. Exhibits, Financial Statement Schedules 128 Item 16 Form 10-K Summary 130

Signatures

Signatures 131 u SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. All statements contained in this Annual Report on Form 10-K other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "target," "plan," "expect," and similar expressions are intended to identify forward-looking statements. Our fiscal year end is June 30. Our fiscal years ended June 30, 2024 , 2023 , and 2022 are referred to herein as fiscal 2024 , fiscal 2023 , and fiscal 2022, respectively. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit, operating expenses, including changes in research and development, sales and marketing, and general and administrative expenses (including any components of the foregoing), and our ability to achieve and maintain, future profitability; our business plan and our ability to effectively manage our growth; our market opportunity, including our total addressable market; our international expansion plans and ability to expand internationally; anticipated trends, growth rates, and challenges in our business and in the markets in which we operate; beliefs and objectives for future operations; our ability to further attract, retain, and expand our customer base; our ability to develop new products and services and bring them to market in a timely manner; the effects of seasonal trends on our results of operations; our expectations concerning relationships with third parties, including partner

BUSINESS

Item 1. BUSINESS Overview Our mission is to make it simple to connect and do business. We are a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables, and spend and expense management. Hundreds of thousands of businesses rely on BILL's proprietary network of millions of members to pay or get paid faster. Headquartered in San Jose, California, we are a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. BILL's purpose-built, artificial intelligence (AI)-enabled financial software platform creates seamless connections between our customers, their suppliers, and their clients. Businesses on our platform generate and process invoices, streamline approvals, make and receive payments, manage employee expenses, sync with their accounting system, foster collaboration, and manage their cash flow. We have built sophisticated integrations with popular accounting software solutions, banks, card issuers, and payment processors, enabling our customers to access these mission-critical services quickly and easily. Our integrated platform also includes BILL Spend and Expense, our spend and expense management product, which provides a solution for businesses to have smart corporate cards, build and monitor budgets, manage payments, and eliminate the need for manual expense reports. As of June 30, 2024, approximately 474,000 businesses used our solutions and processed $292 billion in Total Payment Volume (TPV) during fiscal 2024. As of June 30, 2024, approximately 7.1 million network members have paid or received funds electronically using our platform. See " Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Business Metrics " for definitions and a detailed discussion of our

View Full Filing

View this 10-K filing on SEC EDGAR