Bill Holdings (BILL) FY2025 results: revenue $1.5 billion, up 13.4% on the year

Bill Holdings, Inc. (BILL) reported revenue of $1.5 billion for fiscal 2025, the year ended 30 June 2025, up 13.4% on the year before. Net income was $24 million, and diluted earnings per share $-0.07. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2025.

Revenue

$1.5 billion

+13.4% on the year

FY2018FY2025

Operating margin

-5.5%

-13.5% a year earlier

FY2018FY2025

Net income

$24 million

FY2018FY2025

Diluted EPS

-$0.07

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,463	1,290	1,058	+13.4%
Cost of revenue	272	235	194	+16.0%
Gross profit	1,190	1,056	864	+12.8%
Gross margin	81.4%	81.8%	81.7%
Research and development	340	337	315	+1.0%
Operating income	-80.6	-174	-296
Operating margin	-5.5%	-13.5%	-27.9%
Interest expense	n/a	19.2	15.2
Pre-tax income	30.4	-26.3	-223
Income tax	6.6	2.6	0.8	+158.3%
Effective tax rate	21.7%	n/a	n/a
Net income	23.8	-28.9	-224
Net margin	1.6%	-2.2%	-21.1%
Diluted EPS	-$0.07	-$0.27	-$2.11

$ 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	FY2025	FY2024	FY2023	On the year
Operating cash flow	351	279	188	+25.8%
Capital expenditure	4.3	1.0	7.6	+344.2%
Free cash flow	346	278	180	+24.7%
Free cash flow margin	23.7%	21.5%	17.0%
Cash from investing	-817	-409	259
Cash from financing	667	-743	235
Depreciation and amortisation	27.5	23.2	15.5	+18.5%
Share-based compensation	243	248	314	-2.4%
Buybacks	430	212	87.6	+102.9%
Diluted shares, weighted	104m	106m	106m	-2.1%
Shares outstanding at period end	103m	107m	107m	-3.4%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	3,914	4,134	4,086	-5.3%
Debt	1,714	914	1,840	+87.6%
Operating lease liabilities	58.4	62.8	72.5	-7.1%
Other liabilities	4,377	4,068	3,638	+7.6%
Total liabilities and equity	10,064	9,179	9,636	+9.6%
Fixed assets	117	88.0	81.6	+32.5%
Goodwill	2,397	2,397	2,397	0.0%
Intangible assets	223	281	361	-20.8%
Investments	1,180	602	1,043	+96.2%
Cash and equivalents	1,038	986	1,617	+5.3%
Receivables	32.3	28.0	28.2	+15.3%
Other assets	5,077	4,797	4,108	+5.8%
Total assets	10,064	9,179	9,636	+9.6%

10-K for the year ended 30 June 2025, filed 28 August 2025: the filing.