{"url_path":"/sec/bill/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1786352/0001628280-26-032387-index.html","accession_number":"0001628280-26-032387","cik":"0001786352","ticker":"BILL","issuer_name":"BILL Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1786352/0001628280-26-032387-index.html","primary_entity_key":"0001786352","primary_entity_name":"BILL Holdings, 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of Contents](#ib7b22b52f92c495b98dabe99d5cd387f_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n_____________________\n\nFORM 10-Q\n\n_____________________\n\n(Mark One)\n\nxQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\noTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ________ to ________\n\nCommission File Number: 001-39149\n\n_____________________\n\nBILL HOLDINGS, INC.\n\n(Exact name of registrant as specified in its charter)\n\n_____________________\n\nDelaware83-2661725\n\n(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification Number)\n\n6220 America Center Drive, Suite 100, San Jose, CA\n95002\n\n(Address of principal executive offices)(Zip Code)\n\n(650) 621-7700\n\n(Registrant’s telephone number, including area code)\n\n(Former name, former address and former fiscal year, if changed since last report )\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each exchange on which registered\n\nCommon Stock, $0.00001 par valueBILLThe New York Stock Exchange\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer xAccelerated filero\n\nNon-accelerated filer oSmaller reporting companyo\n\nEmerging growth company o\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x\n\nAs of April 30, 2026, the registrant had 99,596,727 shares of common stock, $0.00001 par value per share, outstanding.\n\n[Table of Contents](#ib7b22b52f92c495b98dabe99d5cd387f_7)\n\nBILL HOLDINGS, INC.\n\nTABLE OF CONTENTS\n\nPage\n\n[Special Note Regarding Forward-Looking Statements](#ib7b22b52f92c495b98dabe99d5cd387f_10)\n\n[1](#ib7b22b52f92c495b98dabe99d5cd387f_10)\n\n[Part I. FINANCIAL INFORMATION](#ib7b22b52f92c495b98dabe99d5cd387f_13)\n\n[3](#ib7b22b52f92c495b98dabe99d5cd387f_16)\n\n[Item 1.](#ib7b22b52f92c495b98dabe99d5cd387f_16)\n\n[Financial Statements (Unaudited)](#ib7b22b52f92c495b98dabe99d5cd387f_16)\n\n[3](#ib7b22b52f92c495b98dabe99d5cd387f_16)\n\n[Condensed Consolidated Balance Sheets](#ib7b22b52f92c495b98dabe99d5cd387f_19)\n\n[3](#ib7b22b52f92c495b98dabe99d5cd387f_19)\n\n[Condensed Consolidated Statements of Operations](#ib7b22b52f92c495b98dabe99d5cd387f_22)\n\n[4](#ib7b22b52f92c495b98dabe99d5cd387f_22)\n\n[Condensed Consolidated Statements of Comprehensive Income (Loss)](#ib7b22b52f92c495b98dabe99d5cd387f_25)\n\n[5](#ib7b22b52f92c495b98dabe99d5cd387f_25)\n\n[Condensed Consolidated Statements of Stockholders’ Equity](#ib7b22b52f92c495b98dabe99d5cd387f_28)\n\n[6](#ib7b22b52f92c495b98dabe99d5cd387f_28)\n\n[Condensed Consolidated Statements of Cash Flows](#ib7b22b52f92c495b98dabe99d5cd387f_31)\n\n[8](#ib7b22b52f92c495b98dabe99d5cd387f_31)\n\n[Notes to Condensed Consolidated Financial Statements](#ib7b22b52f92c495b98dabe99d5cd387f_34)\n\n[10](#ib7b22b52f92c495b98dabe99d5cd387f_34)\n\n[Note 1 – The Company and Its Significant Accounting Policies](#ib7b22b52f92c495b98dabe99d5cd387f_37)\n\n[10](#ib7b22b52f92c495b98dabe99d5cd387f_37)\n\n[Note 2 – Revenue](#ib7b22b52f92c495b98dabe99d5cd387f_67)\n\n[12](#ib7b22b52f92c495b98dabe99d5cd387f_67)\n\n[Note 3 – Fair Value Measurement](#ib7b22b52f92c495b98dabe99d5cd387f_73)\n\n[13](#ib7b22b52f92c495b98dabe99d5cd387f_73)\n\n[Note 4 – Short-Term Investments and Funds Held for Customers](#ib7b22b52f92c495b98dabe99d5cd387f_76)\n\n[15](#ib7b22b52f92c495b98dabe99d5cd387f_76)\n\n[Note 5 – Acquired Card Receivables](#ib7b22b52f92c495b98dabe99d5cd387f_79)\n\n[17](#ib7b22b52f92c495b98dabe99d5cd387f_79)\n\n[Note 6 – Loans Held for Investment](#ib7b22b52f92c495b98dabe99d5cd387f_88)\n\n[18](#ib7b22b52f92c495b98dabe99d5cd387f_88)\n\n[Note 7 – Debt and Borrowings](#ib7b22b52f92c495b98dabe99d5cd387f_100)\n\n[20](#ib7b22b52f92c495b98dabe99d5cd387f_100)\n\n[Note 8 – Stockholders’ Equity](#ib7b22b52f92c495b98dabe99d5cd387f_106)\n\n[23](#ib7b22b52f92c495b98dabe99d5cd387f_106)\n\n[Note 9 – Other Income, Net](#ib7b22b52f92c495b98dabe99d5cd387f_118)\n\n[25](#ib7b22b52f92c495b98dabe99d5cd387f_118)\n\n[Note 10 – Income Taxes](#ib7b22b52f92c495b98dabe99d5cd387f_121)\n\n[25](#ib7b22b52f92c495b98dabe99d5cd387f_121)\n\n[Note 11 – Commitments and Contingencies](#ib7b22b52f92c495b98dabe99d5cd387f_124)\n\n[26](#ib7b22b52f92c495b98dabe99d5cd387f_124)\n\n[Note 12 - Restructuring](#ib7b22b52f92c495b98dabe99d5cd387f_127)\n\n[27](#ib7b22b52f92c495b98dabe99d5cd387f_127)\n\n[Note 13 – Net Income (Loss) Per Share Attributable to Common Stockholders](#ib7b22b52f92c495b98dabe99d5cd387f_130)\n\n[28](#ib7b22b52f92c495b98dabe99d5cd387f_130)\n\n[Item 2.](#ib7b22b52f92c495b98dabe99d5cd387f_136)\n\n[Management's Discussion and Analysis of Financial Condition and Results of Operations](#ib7b22b52f92c495b98dabe99d5cd387f_136)\n\n[29](#ib7b22b52f92c495b98dabe99d5cd387f_136)\n\n[Item 3.](#ib7b22b52f92c495b98dabe99d5cd387f_184)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#ib7b22b52f92c495b98dabe99d5cd387f_184)\n\n[47](#ib7b22b52f92c495b98dabe99d5cd387f_184)\n\n[Item 4.](#ib7b22b52f92c495b98dabe99d5cd387f_193)\n\n[Controls and Procedures](#ib7b22b52f92c495b98dabe99d5cd387f_193)\n\n[49](#ib7b22b52f92c495b98dabe99d5cd387f_193)\n\n[Part II. OTHER INFORMATION](#ib7b22b52f92c495b98dabe99d5cd387f_196)\n\n[50](#ib7b22b52f92c495b98dabe99d5cd387f_196)\n\n[Item 1.](#ib7b22b52f92c495b98dabe99d5cd387f_199)\n\n[Legal Proceedings](#ib7b22b52f92c495b98dabe99d5cd387f_199)\n\n[50](#ib7b22b52f92c495b98dabe99d5cd387f_199)\n\n[Item 1A.](#ib7b22b52f92c495b98dabe99d5cd387f_202)\n\n[Risk Factors](#ib7b22b52f92c495b98dabe99d5cd387f_202)\n\n[50](#ib7b22b52f92c495b98dabe99d5cd387f_202)\n\n[Item 2.](#ib7b22b52f92c495b98dabe99d5cd387f_223)\n\n[Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](#ib7b22b52f92c495b98dabe99d5cd387f_223)\n\n[89](#ib7b22b52f92c495b98dabe99d5cd387f_223)\n\n[Item 3.](#ib7b22b52f92c495b98dabe99d5cd387f_226)\n\n[Defaults Upon Senior Securities](#ib7b22b52f92c495b98dabe99d5cd387f_226)\n\n[90](#ib7b22b52f92c495b98dabe99d5cd387f_226)\n\n[Item 4.](#ib7b22b52f92c495b98dabe99d5cd387f_229)\n\n[Mine Safety Disclosures](#ib7b22b52f92c495b98dabe99d5cd387f_229)\n\n[90](#ib7b22b52f92c495b98dabe99d5cd387f_229)\n\n[Item 5.](#ib7b22b52f92c495b98dabe99d5cd387f_232)\n\n[Other Information](#ib7b22b52f92c495b98dabe99d5cd387f_232)\n\n[90](#ib7b22b52f92c495b98dabe99d5cd387f_232)\n\n[Item 6.](#ib7b22b52f92c495b98dabe99d5cd387f_238)\n\n[Exhibits](#ib7b22b52f92c495b98dabe99d5cd387f_238)\n\n[90](#ib7b22b52f92c495b98dabe99d5cd387f_238)\n\n[SIGNATURES](#ib7b22b52f92c495b98dabe99d5cd387f_241)\n\n[91](#ib7b22b52f92c495b98dabe99d5cd387f_241)\n\nI\n\n[Table of Contents](#ib7b22b52f92c495b98dabe99d5cd387f_7)\n\nSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report on Form 10-Q contains forward-looking statements. All statements contained in this Quarterly Report on Form 10-Q 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.\n\nForward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about:\n\n•our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit, and operating expenses, and our ability to sustain and expand profitability;\n\n•our business plan and our ability to effectively manage our growth;\n\n•our market opportunity, including our total addressable market;\n\n•anticipated trends, growth rates, and challenges in our business and in the markets in which we operate;\n\n•our ability to further attract, retain, and expand our customer base;\n\n•the political, economic, and macroeconomic climate, including economic downturns or recessions, inflation, significant political and regulatory developments or changes in trade policy, including government budget cuts, government shutdowns and tariffs, fluctuations in market interest rates and currency exchange rates, cybersecurity events, the conflict in Iran and related supply chain disruptions, and actual or perceived instability in the U.S. and global banking systems, and their impact on our customers, partners, vendors, employees, results of operations, liquidity, and financial condition;\n\n•our ability to develop new products and services (including artificial intelligence (AI) products and services) and bring them to market in a timely manner;\n\n•the effects of seasonal trends on our results of operations;\n\n•our expectations concerning relationships with third parties, including partners;\n\n•our ability to maintain, protect, and enhance our intellectual property;\n\n•the effects of increased competition in our markets and our ability to compete effectively, including as a result of the ongoing rapid development and adoption of new AI capabilities;\n\n•future acquisitions or investments in complementary companies, products, services, or technologies;\n\n•our international expansion plans and ability to expand internationally;\n\n•beliefs and objectives for future operations;\n\n•our ability to stay in compliance with laws and regulations that currently apply or become applicable to our business;\n\n•economic and industry trends, projected growth, or trend analysis;\n\n•our ability to attract and retain qualified talent;\n\n•the increased expenses associated with being a publicly-listed and regulated company;\n\n•our expectations regarding continued repurchases of shares of our common stock, including the timing, manner, amount, and impact of any repurchases;\n\n•our expectations regarding our outstanding convertible senior notes, including the related capped call transactions, and any potential repurchases of convertible senior notes; and\n\n•the future market prices of our common stock.\n\n1\n\n[Table of Contents](#ib7b22b52f92c495b98dabe99d5cd387f_7)\n\nWe caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q.\n\nThese forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in the section titled “Risk Factors” in Part II, Item 1A of this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.\n\nYou should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this Quarterly Report on Form 10-Q or to conform these statements to actual results or to changes in our expectations, except as required by law.\n\nIn addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information.\n\nYou should read this Quarterly Report on Form 10-Q and the documents that we reference herein, that we have filed with the Securities and Exchange Commission (SEC) as exhibits, with the understanding that our actual future results, performance, and events and circumstances may be materially different from what we expect.\n\nIn this Quarterly Report on Form 10-Q, the words \"we,\" \"us,\" and \"our\" refer to BILL Holdings, Inc. (BILL) together with its wholly-owned subsidiaries, unless the context requires otherwise.\n\n2\n\n[Table of Contents](#ib7b22b52f92c495b98dabe99d5cd387f_7)\n\nPART I. FINANCIAL INFORMATION"}