BILL Holdings, Inc. · NYSE:BILL
BILL — Q4 2024 Earnings Presentation
35 slides from BILL's earnings presentation, August 2024
Slide 1: Investor Deck August 2024
BILL NYSE BILL Investor Deck August 2024
Slide 2: Safe harbor
Safe harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements other than statements of historical facts, and statements in the future tense. Forward-looking statements are based on our expectations a
Slide 3: Champions of small and midsize businesses
Who we are: Champions of small and midsize businesses. Our mission: Make it simple to connect and do business. 3
Slide 4: The Essential Financial Operations Platform
The Essential Financial Spend Management Operations Platform ● Digital on-ramp to replace legacy paper-based processes Accounts Accounts Payable Receivable ● Automate financial operations ● Make and receive payments ● Manage budgets and cash flow ● Gain insight, visibility, and control Payments 4
Slide 5: BILL at a glance
BILL at a glance Total Revenue $ Millions) 475K 7.1M Businesses using Network members² our solutions¹ Suppliers & Clients) 92% 85% Net dollar Gross margin retention rate3 Non-GAAP4 1 As of June 30, 2024. Includes BILL standalone customers, BILL Spend and Expense S&E, formerly known as Divvy) sp
Slide 6: All SMBs have a need for back-office efficiency
All SMBs have a need for back-office efficiency Disparate systems Lack of visibility Siloed workflows Antiquated paper-based Lack of visibility into cash flow Inability to scale financial processes. Spending hours and real time financial status, operations without growing manually processing bill ma
Slide 7: Our opportunity to create value in the SMB segment is significant
Our opportunity to create value in the SMB segment is significant Number of SMBs and SMB Software B2B Payment Sole Proprietors Spend Volume 1 2 3 34M $75B $28T U.S. Opportunity Global 70M $344B $125T 4 5 6 Opportunity 1 Nonemployer Statistics, 2019 Census; Statistics of US Businesses, 2020 Censu
Slide 8: We digitally transform back-office operations with intelligent workflow
We digitally transform back-office operations with intelligent workflow SPEND MANAGEMENT Engage Reconcile Invoice Pay ACCOUNTS ACCOUNTS RECEIVABLE PAYABLE Get paid Approve NETWORK Reconcile Receive 8
Slide 9: Integrated Financial Operations Platform
Integrated Financial Operations Platform Accounts Payable Accounts Receivable Spend & Expense Financial Planning & Analysis Tools 9
Slide 10: We empower SMBs
We empower SMBs with More time for More time for Less paper. their mission. customers. More control.
Slide 11: We partner with SMBs' most trusted financial partners
We partner with ACCOUNTING FIRMS SMBsʼ most 8,000 trusted financial partners. Our partners use our platform to Partner with Top FIs for SMBs better serve their clients. As of June 30, 2024. 11
Slide 12: Our target segments
Our target segments MARKET SEGMENT CURRENT TOOLS Enterprise ERP, Point Solutions Mid-Market Point Solutions, Paper SMB Excel, Paper Micro Businesses Excel, Paper 12
Slide 13: Why we win
Why we win Platform Ecosystem Scale ● Purpose-built financial ● Efficient go-to-market: ● 475,000 SMBs operations platform self-serve, direct to SMBs, strategic ● 7.1 million network ● Proprietary money members1 partnerships with movement rails & accounting firms and ● Over $300 billion infrastructu
Slide 14: Expanding network effects
Expanding network effects Data Products & Capabilities Adoption, Engagement, and Stickiness Transactions 7.1M1 Network Members and Growing SMBs 1 As of June 30, 2024, approximately 7.1 million network members have paid or received funds Suppliers and Buyers electronically using our platform. We defi
Slide 15: Multiple drivers for future growth
Multiple drivers for future growth Expanding internationally Developing our platform capabilities Growing the number of network members Increasing adoption by our existing customers Acquiring new customers 15
Slide 16: Financial Overview
ma © Financial Overview
Slide 17: Our financial profile
Our financial profile $1,290M 16% 85% Trailing 12 mos Revenue1 Core revenue y/y growth2,3 Non-GAAP gross margin2,4 Scale Growth Attractive Margin Profile 89% 92% 6 Quarters of Core Revenue3,5 Dollar-based net retention rate6 Payback period7 From Existing Customers Land and Expand Efficient Business
Slide 18: Our business model
Our business model CORE FLOAT Subscription Transaction Float Revenue Revenue Revenue Per user pricing to use our platform Usage-based transactional Interest we earn from customer fees and interchange funds while payment transactions Fixed monthly or annual rate income are clearing Price plans depend
Slide 19: Strong revenue growth
Strong revenue growth1 TOTAL REVENUE CORE REVENUE FLOAT REVENUE 1 Dollars in millions. 19
Slide 20: Growing adoption & usage
Growing adoption & usage Businesses using Transactions Total payment our solutions1 processed2 volume3 (in thousands) (in millions) $ in billions) 1 The total number of BILL standalone customers was approximately 222,000; the total number of spending businesses that used BILL S&E solution (formerly
Slide 21: Consistent growth & execution
Consistent growth & execution Total revenue $ in millions) $344 GR CA % 69 $42 Note: FY ends June 30. 21
Slide 22: Appendix
Appendix 22
Slide 23: Supplemental Information
Supplemental Information * Note: Totals may not sum due to rounding. 23
Slide 24: Supplemental Information
Supplemental Information * Note: Totals may not sum due to rounding. 24
Slide 25: Supplemental Information
Supplemental Information 25
Slide 26: Supplemental Information
Supplemental Information * Note: Totals may not sum due to rounding. 26
Slide 27: Supplemental Information
Supplemental Information * Note: Totals may not sum due to rounding. 27
Slide 28: GAAP to Non-GAAP Reconciliation: Gross Profit
GAAP to Non-GAAP Reconciliation Gross Profit * Note: Totals may not sum due to rounding. 28
Slide 29: GAAP to Non-GAAP Reconciliation: Operating Expenses
GAAP to Non-GAAP Reconciliation Operating Expenses 29
Slide 30: GAAP to Non-GAAP Reconciliation: Operating Income and Net Income
GAAP to Non-GAAP Reconciliation Operating Income and Net Income 1 1 Non-GAAP provision for income taxes is calculated using a blended tax rate of 20%, taking into consideration the nature of the taxed item and the applicable statutory tax rate in each relevant taxing jurisdiction. Such amounts w
Slide 31: Metrics Presentation Beginning in Q1FY25
Metrics Presentation Beginning in Q1FY25 31
Slide 32: Metrics Presentation Beginning in Q1FY25
Metrics Presentation Beginning in Q1FY25 Starting in Q1 fiscal year 2025, we will be revising our metrics presentation to reflect our evolving product solution set. This new presentation will provide investors with an enhanced view of our Integrated Platform and of our Embedded & Other Solutions. W
Slide 33: Metrics Presentation Beginning in Q1FY25
Metrics Presentation Beginning in Q1FY25* * The information in this section represents key metrics and revenue derived therefrom that BILL will use beginning fiscal Q1ʼ25. “BILL AP/ARˮ and “BILL Spend & Expenseˮ exclude revenue contributed by customers referred through financial institutions (“FI C
Slide 34: Metrics Presentation Beginning in Q1FY25
Metrics Presentation Beginning in Q1FY25* * The information in this section represents key metrics and revenue derived therefrom that BILL will use beginning fiscal Q1ʼ25. “BILL AP/ARˮ and “BILL Spend & Expenseˮ exclude revenue contributed by customers referred through financial institutions (“FI C
Slide 35: Metrics Presentation Beginning in Q1FY25
Metrics Presentation Beginning in Q1FY25* * The information in this section represents key metrics and revenue derived therefrom that BILL will use beginning fiscal Q1ʼ25. “BILL AP/ARˮ and “BILL Spend & Expenseˮ exclude revenue contributed by customers referred through financial institutions (“FI C