← BILL Holdings, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
| Net Income From Continuing Operations | — | — | — | — | ($326.4m) | ($223.7m) | ($28.9m) | $23.8m | |
| Net Income (Loss) Attributable to Parent | ($7.2m) | ($7.3m) | ($31.1m) | ($98.7m) | ($326.4m) | ($223.7m) | ($28.9m) | $23.8m | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($7.2m) | ($7.3m) | ($31.1m) | ($98.7m) | ($326.4m) | ($223.7m) | ($28.9m) | $23.8m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | ($31.1m) | ($98.7m) | ($326.4m) | ($223.7m) | ($28.9m) | $23.8m | |
| Depreciation, Depletion and Amortization | — | — | $4.3m | $5.3m | $9.2m | $11.3m | $23.2m | $27.5m | |
| Amortization of Deferred Charges | — | — | $400k | $600k | $1.6m | $2.5m | $2.0m | $200k | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | $27.5m | $4.8m | $7.0m | $6.2m | $4.7m | |
| Amortization of Intangible Assets | — | — | $0 | $5.7m | $76.0m | $80.2m | $80.0m | $61.9m | |
| Capitalized Computer Software, Amortization | — | — | — | — | $2.4m | $4.2m | $9.4m | $14.5m | |
| Depreciation | — | — | — | — | $11.5m | $15.5m | $13.8m | $13.0m | |
| Depreciation of property and equipment | — | — | — | $4.4m | $9.2m | $11.3m | $13.8m | $13.0m | |
| Amortization of capitalized internal-use software costs paid in cash | — | — | $1.0m | $907k | $2.4m | $4.2m | $9.4m | $14.5m | |
| Amortization of debt discount and issuance costs | — | — | $0 | $27.5m | $4.8m | $7.0m | $6.2m | $4.7m | |
| Amortization Cash Flow | — | — | — | — | $78.3m | $84.4m | $89.3m | $76.4m | |
| Amortization Of Intangibles | — | — | — | — | $78.3m | $84.4m | $89.3m | $76.4m | |
| Amortization Of Securities | — | — | — | — | $11.4m | ($37.3m) | ($64.3m) | ($58.2m) | |
| Depreciation Amortization Depletion | — | — | — | — | $87.5m | $95.7m | $103.2m | $89.4m | |
| Deferred Income Tax Expense (Benefit) | — | — | — | ($40.6m) | ($4.1m) | ($1.4m) | ($361k) | ($77k) | |
| Deferred Income Tax | — | — | — | — | ($4.1m) | ($1.4m) | ($361k) | — | |
| Deferred Tax | — | — | — | — | ($4.1m) | ($1.4m) | ($361k) | — | |
| Share-based Payment Arrangement, Noncash Expense | — | — | $18.1m | $68.3m | $197.2m | $313.6m | $248.4m | $242.5m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | $3.9m | $7.8m | |
| Share-based Payment Arrangement, Expense | — | — | $18.1m | $72.5m | $197.2m | $313.7m | $248.4m | $242.5m | |
| Share-based Payment Arrangement, Expensed and Capitalized, Amount | — | — | — | — | $201.6m | $322.8m | $256.8m | $256.4m | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | — | — | $46.7m | $40.5m | |
| Income Tax Expense (Benefit) | — | — | $53k | ($40.6m) | ($4.3m) | $808k | $2.6m | $6.6m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | $19.2m | — | |
| Operating Lease, Expense | — | — | $5.3m | $10.0m | $15.2m | $15.7m | $14.8m | $14.2m | |
| Other Nonoperating Income (Expense) | — | — | $14k | ($25.4m) | ($13.9m) | $72.9m | $147.8m | $111.0m | |
| Gain on debt extinguishment | — | — | — | — | $0 | $0 | ($46.7m) | ($40.5m) | |
| Operating lease liabilities | — | — | $0 | $8.4m | ($7.9m) | ($10.3m) | ($9.8m) | ($9.4m) | |
| Changes in operating assets and liabilities: | |||||||||
| Additional Financial Items | |||||||||
| Increase (Decrease) in Accounts Receivable | — | — | $1.1m | $6.5m | $3.0m | $4.5m | ($69k) | $4.5m | |
| Increase (Decrease) in Accounts Payable | — | — | ($1.6m) | $7.4m | ($3.8m) | ($1.7m) | ($1.1m) | $8.2m | |
| Increase (Decrease) in Other Operating Assets | — | — | $4.9m | $12.5m | ($5.1m) | ($320k) | ($7.5m) | ($8.4m) | |
| Accounts Receivable, Credit Loss Expense (Reversal) | — | — | — | — | — | — | — | ($5.7m) | |
| Proceeds from Stock Options Exercised | — | — | $12.2m | $28.2m | $34.0m | $13.9m | $8.1m | $3.7m | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | $0 | $0 | $0 | $0 | $0 | $0 | |
| General and Administrative Expense | — | — | $53.9m | $128.8m | $241.2m | $281.3m | $277.7m | $281.9m | |
| Goodwill | — | — | — | $1.8b | $2.4b | $2.4b | $2.4b | $2.4b | |
| Investment Income, Interest | — | — | $4.1m | $3.0m | $6.7m | $91.3m | $122.3m | — | |
| Nonoperating Income (Expense) | — | — | $3.2m | ($25.4m) | ($13.9m) | $72.9m | $147.8m | $111.0m | |
| Operating Expenses | — | — | $152.7m | $290.4m | $813.8m | $1.2b | $1.2b | $1.3b | |
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | — | $27.0m | |
| Stock-based compensation | $1.5m | $4.1m | $18.1m | $68.3m | $197.2m | $313.6m | $248.4m | $242.5m | |
| Accretion of discount on investments in marketable debt securities | — | ($1.3m) | ($3.8m) | $4.7m | $11.4m | ($37.2m) | ($55.1m) | ($37.0m) | |
| Accretion of discount on loans held for investment | — | — | — | — | $0 | ($127k) | ($9.2m) | ($21.2m) | |
| Provision for expected credit losses on acquired card receivables and other financial assets | — | — | $0 | $741k | $19.9m | $32.2m | $60.1m | $72.7m | |
| Other | — | $299k | ($7k) | ($1.1m) | ($726k) | ($239k) | ($500k) | ($2.5m) | |
| Accounts receivable | ($279k) | ($2.1m) | ($1.1m) | ($6.5m) | ($3.0m) | ($4.5m) | $69k | ($4.5m) | |
| Prepaid expenses and other current assets | ($3.5m) | ($5.7m) | ($10.4m) | $2.3m | ($13.0m) | ($16.8m) | ($6.8m) | ($27.0m) | |
| Other assets | ($2.8m) | ($995k) | ($4.9m) | ($12.5m) | $5.1m | $320k | $7.5m | $8.4m | |
| Accounts payable | ($563k) | $3.2m | ($1.6m) | $7.4m | ($3.8m) | ($1.7m) | ($1.1m) | $8.2m | |
| Other accruals and current liabilities | $1.6m | $4.3m | $9.8m | $23.0m | $7.5m | $34.5m | $21.0m | $30.2m | |
| Other long-term liabilities | $35k | $302k | $13.0m | $592k | ($6.7m) | ($3.1m) | ($14.6m) | $46k | |
| Deferred revenue | $771k | $47k | $3.3m | $6.9m | $5.6m | ($7.3m) | ($5.6m) | $1.5m | |
| Purchase of intangible assets | — | — | — | — | — | $0 | $0 | ($2.9m) | |
| Principal repayments of loans held for investment | — | — | — | — | $0 | $4.5m | $326.2m | $787.5m | |
| Acquired card receivables, net | — | — | ($959k) | ($15.7m) | ($130.5m) | ($234.3m) | ($185.5m) | ($129.4m) | |
| Capitalization of internal-use software costs | ($733k) | ($1.6m) | ($639k) | ($2.3m) | ($10.3m) | ($23.6m) | ($19.9m) | ($33.8m) | |
| Proceeds from beneficial interest | — | — | $0 | $0 | $6.7m | $2.1m | $0 | $0 | |
| Proceeds from issuance of convertible senior notes | — | — | $0 | $1.1b | $560.1m | $0 | $0 | $1.4b | |
| Cash paid for convertible senior notes issuance costs | — | — | ($151k) | — | — | $0 | $0 | ($24.0m) | |
| Payments for repurchase of convertible senior notes | — | — | — | — | $0 | $0 | ($933.2m) | ($539.4m) | |
| Proceeds from unwind of capped calls | — | — | — | — | $0 | $0 | $11.4m | $0 | |
| Purchase of capped calls | — | — | $0 | ($87.9m) | ($37.9m) | $0 | $0 | ($93.0m) | |
| Customer fund deposits liability and other | $263.7m | $414.3m | $314.9m | $564.3m | $970.9m | $204.4m | $354.0m | $318.7m | |
| Prepaid card deposits | — | — | — | $0 | $29.9m | $26.6m | ($17.9m) | $28.5m | |
| Proceeds from line of credit borrowings | — | — | $2.3m | $0 | $37.5m | $60.0m | $45.0m | $0 | |
| Cash paid for line of credit issuance costs | — | — | — | — | — | $0 | $0 | ($1.7m) | |
| Proceeds from exercise of stock options | $693k | $1.7m | $12.2m | $28.2m | $34.0m | $13.9m | $8.1m | $3.7m | |
| Tax withholdings related to net share settlements of equity awards | — | — | — | — | $0 | $0 | ($3.9m) | ($7.8m) | |
| Contingent consideration payout | — | — | — | — | $0 | $0 | ($10.8m) | $0 | |
| Restricted cash included in other assets | — | $550k | $0 | $6.9m | $6.7m | $13.8m | $5.3m | $4.9m | |
| Payable on purchases of acquired card receivables | — | — | — | — | $0 | $0 | $105.4m | $9.2m | |
| Payable on excise tax | — | — | — | — | — | $0 | $0 | $2.7m | |
| Issuance and exercise of warrants | — | — | — | — | — | $0 | $8.8m | $13.1m | |
| Beginning Cash Position | — | — | — | — | $1.8b | $3.5b | $4.2b | $3.4b | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | $2.9b | $235.1m | ($742.6m) | $666.5m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | ($1.1b) | $259.3m | ($409.4m) | ($817.4m) | |
| Change In Account Payable | — | — | — | — | ($3.8m) | ($1.7m) | ($1.1m) | $8.2m | |
| Change In Accrued Expense | — | — | — | — | $7.5m | $34.5m | $21.0m | $30.2m | |
| Change In Other Current Assets | — | — | — | — | $5.1m | $320k | $7.5m | $8.4m | |
| Change In Other Current Liabilities | — | — | — | — | ($14.6m) | ($13.4m) | ($24.4m) | ($9.4m) | |
| Change In Other Working Capital | — | — | — | — | $5.6m | ($7.3m) | ($5.6m) | $1.5m | |
| Change In Payable | — | — | — | — | ($3.8m) | ($1.7m) | ($1.1m) | $8.2m | |
| Change In Payables And Accrued Expense | — | — | — | — | $3.7m | $32.8m | $19.9m | $38.4m | |
| Change In Prepaid Assets | — | — | — | — | ($13.0m) | ($16.8m) | ($6.8m) | ($27.0m) | |
| Change In Receivables | — | — | — | — | ($3.0m) | ($4.5m) | $69k | ($4.5m) | |
| Change In Working Capital | — | — | — | — | ($16.2m) | ($9.0m) | ($9.3m) | $7.6m | |
| Changes In Account Receivables | — | — | — | — | ($3.0m) | ($4.5m) | $69k | ($4.5m) | |
| Changes In Cash | — | — | — | — | $1.7b | $682.2m | ($873.2m) | $199.8m | |
| End Cash Position | — | — | — | — | $3.5b | $4.2b | $3.4b | $3.6b | |
| Financing Cash Flow | — | — | — | — | $2.9b | $235.1m | ($742.6m) | $666.5m | |
| Free Cash Flow | — | — | — | — | ($33.7m) | $156.6m | $257.9m | $309.7m | |
| Interest Received CFI | — | — | — | — | $6.7m | $2.1m | $0 | $0 | |
| Investing Cash Flow | — | — | — | — | ($1.1b) | $259.3m | ($409.4m) | ($817.4m) | |
| Issuance Of Capital Stock | — | — | — | — | $1.3b | $0 | $0 | — | |
| Net Business Purchase And Sale | — | — | — | — | ($144.3m) | ($28.9m) | $0 | $0 | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | $0 | $0 | ($2.9m) | |
| Net PPE Purchase And Sale | — | — | — | — | ($5.4m) | ($7.6m) | ($976k) | ($4.3m) | |
| Operating Gains Losses | — | — | — | — | — | — | ($46.7m) | ($40.5m) | |
| Other Non Cash Items | — | — | — | — | $12.7m | $16.4m | $16.3m | $13.3m | |
| Proceeds From Stock Option Exercised | — | — | — | — | $46.9m | $31.8m | $24.6m | $15.3m | |
| Provisionand Write Offof Assets | — | — | — | — | $19.9m | $32.2m | $60.1m | $72.7m | |
| Purchase Of Business | — | — | — | — | ($144.3m) | ($28.9m) | $0 | $0 | |
| Purchase Of Intangibles | — | — | — | — | — | $0 | $0 | ($2.9m) | |
| Purchase Of PPE | — | — | — | — | ($5.4m) | ($7.6m) | ($976k) | ($4.3m) | |
| Repurchase Of Capital Stock | — | — | — | — | $0 | ($87.6m) | ($211.9m) | ($430.0m) | |
| Net Cash Provided by (Used in) Operating Activities | ($8.4m) | ($3.9m) | ($4.4m) | $4.6m | ($18.1m) | $187.8m | $278.8m | $350.6m | |
| Cash flows from investing activities: | |||||||||
| Payments to Acquire Property, Plant, and Equipment | $1.9m | ($2.7m) | $11.4m | $18.9m | $5.4m | $7.6m | $976k | $4.3m | |
| Capital Expenditure Reported | — | — | — | — | ($10.3m) | ($23.6m) | ($19.9m) | ($33.8m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | $556.1m | $144.3m | $28.9m | $0 | $0 | |
| Purchases of corporate and customer fund short-term investments | ($726.8m) | ($830.6m) | ($1.1b) | ($2.1b) | ($2.8b) | ($2.7b) | ($2.7b) | ($2.8b) | |
| Purchases of loans held for investment | — | — | — | — | $0 | ($5.9m) | ($359.7m) | ($798.9m) | |
| Net Investment Purchase And Sale | — | — | — | — | ($843.5m) | $550.4m | ($202.5m) | ($644.5m) | |
| Purchase Of Investment | — | — | — | — | ($2.8b) | ($2.7b) | ($3.0b) | ($3.6b) | |
| Proceeds from maturities and sales of corporate and customer fund short-term investments | $290.8m | $694.3m | $806.0m | $1.1b | $1.9b | $3.3b | $2.5b | $2.2b | |
| Sale Of Investment | — | — | — | — | $2.0b | $3.3b | $2.8b | $3.0b | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | $239k | $500k | $2.5m | |
| Net Other Investing Changes | — | — | — | — | ($130.5m) | ($233.1m) | ($186.0m) | ($131.9m) | |
| Net Cash Provided by (Used in) Investing Activities | ($417.8m) | ($96.1m) | ($249.5m) | ($1.4b) | ($1.1b) | $259.3m | ($409.4m) | ($817.4m) | |
| Cash flows from financing activities: | |||||||||
| Issuance Of Debt | — | — | — | — | $597.6m | $60.0m | $45.0m | $1.4b | |
| Long Term Debt Issuance | — | — | — | — | $560.1m | $0 | $0 | $1.4b | |
| Net Issuance Payments Of Debt | — | — | — | — | $557.6m | $60.0m | ($888.2m) | $860.6m | |
| Net Long Term Debt Issuance | — | — | — | — | $560.1m | $0 | ($933.2m) | $860.6m | |
| Net Short Term Debt Issuance | — | — | — | — | ($2.5m) | $60.0m | $45.0m | $0 | |
| Short Term Debt Issuance | — | — | — | — | $37.5m | $60.0m | $45.0m | $0 | |
| Long Term Debt Payments | — | — | — | — | $0 | $0 | ($933.2m) | ($539.4m) | |
| Repayment Of Debt | — | — | — | — | ($40.0m) | $0 | ($933.2m) | ($539.4m) | |
| Short Term Debt Payments | — | — | — | — | ($40.0m) | $0 | $0 | — | |
| Proceeds from Issuance of Common Stock | — | — | $308.2m | $8.9m | $12.8m | $17.9m | $16.5m | $11.6m | |
| Proceeds from issuance of common stock under the employee stock purchase plan | — | — | $308.2m | $8.9m | $12.8m | $17.9m | $16.5m | $11.6m | |
| Common Stock Issuance | — | — | — | — | $1.3b | $0 | $0 | — | |
| Net Common Stock Issuance | — | — | — | — | $1.3b | ($87.6m) | ($211.9m) | ($430.0m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | $87.6m | $211.9m | $430.0m | |
| Repurchase of common stock | — | — | — | $0 | $0 | ($87.6m) | ($211.9m) | ($430.0m) | |
| Payable on repurchase of common stock | — | — | — | — | — | $0 | $0 | $5.0m | |
| Common Stock Payments | — | — | — | — | $0 | ($87.6m) | ($211.9m) | ($430.0m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | ($1.1m) | — | — | — | — | |
| Net Other Financing Charges | — | — | — | — | $933.0m | $231.0m | $332.9m | $220.7m | |
| Net Cash Provided by (Used in) Financing Activities | $326.3m | $491.7m | $863.1m | $1.6b | $2.9b | $235.1m | ($742.6m) | $666.5m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | ($149k) | ($38k) | ($240k) | ($290k) | |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | — | — | $0 | $0 | ($149k) | ($38k) | ($240k) | ($290k) | |
| Effect Of Exchange Rate Changes | — | — | — | — | ($149k) | ($38k) | ($240k) | ($290k) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $1.7b | $682.1m | ($873.4m) | $199.5m | |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | ($99.9m) | $391.6m | $609.2m | $217.3m | $1.7b | $682.1m | ($873.4m) | $199.5m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $3.5b | $4.2b | $3.4b | $3.6b | |
| Cash paid for acquisition, net of acquired cash and cash equivalents | — | — | $0 | ($556.1m) | ($144.3m) | ($28.9m) | $0 | $0 | |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year | $591.6m | $983.2m | $1.6b | $1.8b | $3.5b | $4.2b | $3.4b | $3.6b | |
| Cash and cash equivalents | $22.4m | $90.3m | $573.6m | $509.6m | $1.6b | $1.6b | $985.9m | $1.0b | |
| Restricted cash included in other current assets | $256k | $256k | $35k | $11.0m | $85.3m | $87.3m | $174.1m | $101.6m | |
| Restricted cash and restricted cash equivalents included in funds held for customers | $568.9m | $892.1m | $1.0b | $1.3b | $1.9b | $2.5b | $2.2b | $2.4b | |
| Total cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year | — | — | $1.6b | $1.8b | $3.5b | $4.2b | $3.4b | $3.6b | |
| Supplemental disclosure of cash flow information: | |||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | $1.7b | $682.1m | ($873.4m) | $199.5m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $436k | $872k | $174k | $112k | $4.9m | $7.4m | $12.6m | $13.8m | |
| Cash paid for income taxes during the period | — | — | — | $0 | $0 | $1.3m | $5.6m | $6.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.