Bill Holdings (BILL) FY2024 results: revenue $1.3 billion, up 21.9% on the year

Bill Holdings, Inc. (BILL) reported revenue of $1.3 billion for fiscal 2024, the year ended 30 June 2024, up 21.9% on the year before. Net income was -$29 million, and diluted earnings per share $-0.27. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2024.

Revenue

$1.3 billion

+21.9% on the year

FY2018FY2024

Operating margin

-13.5%

-27.9% a year earlier

FY2018FY2024

Net income

-$29 million

FY2018FY2024

Diluted EPS

-$0.27

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,290	1,058	642	+21.9%
Cost of revenue	235	194	145	+21.0%
Gross profit	1,056	864	497	+22.1%
Gross margin	81.8%	81.7%	77.4%
Research and development	337	315	220	+7.0%
Operating income	-174	-296	-317
Operating margin	-13.5%	-27.9%	-49.4%
Interest expense	19.2	15.2	9.4	+26.2%
Pre-tax income	-26.3	-223	-331
Income tax	2.6	0.8	-4.3	+216.7%
Net income	-28.9	-224	-326
Net margin	-2.2%	-21.1%	-50.8%
Diluted EPS	-$0.27	-$2.11	-$3.21

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	279	188	-18.1	+48.5%
Capital expenditure	1.0	7.6	5.4	-87.1%
Free cash flow	278	180	-23.5	+54.2%
Free cash flow margin	21.5%	17.0%	-3.7%
Cash from investing	-409	259	-1,127
Cash from financing	-743	235	2,879
Depreciation and amortisation	23.2	15.5	11.5	+49.7%
Share-based compensation	248	314	197	-20.8%
Buybacks	212	87.6	0.0	+141.9%
Diluted shares, weighted	106m	106m	102m	+0.1%
Shares outstanding at period end	107m	107m	105m	+0.1%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	4,134	4,086	4,044	+1.2%
Debt	914	1,840	1,773	-50.3%
Operating lease liabilities	62.8	72.5	82.7	-13.3%
Other liabilities	4,068	3,638	3,357	+11.8%
Total liabilities and equity	9,179	9,636	9,256	-4.7%
Fixed assets	88.0	81.6	57.0	+7.9%
Goodwill	2,397	2,397	2,363	0.0%
Intangible assets	281	361	433	-22.1%
Investments	602	1,043	1,108	-42.3%
Cash and equivalents	986	1,617	1,597	-39.0%
Receivables	28.0	28.2	24.0	-0.7%
Other assets	4,797	4,108	3,674	+16.8%
Total assets	9,179	9,636	9,256	-4.7%

10-K for the year ended 30 June 2024, filed 23 August 2024: the filing.