BILL Holdings, Inc. · NYSE:BILL
BILL — Investor Presentation (August 2023)
29 slides from BILL's investor presentation, August 2023
Slide 1: Investor Deck August 2023
BILL (NYSE: BILL) Investor Deck August 2023
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: All-in-One Financial Operations Platform
All-in-One Financial Spend Management Operations Platform ● Digital on-ramp to replace Financial legacy paper-based processes Operations Accounts Accounts ● Automate financial operations Payable Platform Receivable ● Make and receive payments ● Manage budgets and cash flow Payments 4
Slide 5: BILL at a glance
BILL at a glance Total Revenue ($ Millions) 460K+ 5.8M Businesses using Network members² our solutions¹ (Suppliers & Clients) 111% 87% Net dollar Gross margin retention rate3 (Non-GAAP)4 1 As of June 30, 2023. Includes BILL standalone customers, Divvy spending businesses, and Invoice2go subscribers.
Slide 6: All SMBs have a need for back-office efficiency
All SMBs have a need for back-office efficiency INACCURATE LACK OF PAPER-BASED MANUAL AND AND ERROR- VISIBILITY AND AND NOT CUMBERSOME PRONE DATA SECURE This is the What is wrong this amount invoice Can I for? pay this later? Who needs to Your check approve? is in the Who has mail that file? 6 6
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
We digitally transform back-office operations SPEND MANAGEMENT Engage Reconcile Invoice Pay ACCOUNTS ACCOUNTS RECEIVABLE PAYABLE Get paid Approve NETWORK Reconcile Receive 8
Slide 9: And empower SMBs with more time and control
And empower SMBs with More time for More time for Less paper. their mission. customers. More control.
Slide 10: We partner with SMBs' most trusted financial partners
We partner with ACCOUNTING FIRMS SMBs’ most 7,000+ trusted financial partners. Our partners use our platform to FINANCIAL INSTITUTIONS 7 of the top 10 FIs for SMBs in the U.S. better serve their clients. As of June 30, 2023. 10
Slide 11: 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 11
Slide 12: Why we win
Why we win Platform Ecosystem Scale ● Purpose-built financial ● Efficient go-to-market: ● 460,000+ SMBs operations platform self-serve, direct to SMBs, strategic ● 5.8 million network ● Proprietary money members1 partnerships with movement rails & accounting firms and ● $270+ billion annualized infr
Slide 13: Expanding network effects
Expanding network effects Data Products & Capabilities Adoption, Engagement, and Stickiness Transactions 5.8M1 Network Members and Growing SMBs 1 As of June 30, 2023, approximately 5.8 million network members have paid or received funds Suppliers and Buyers electronically using our platform. We defi
Slide 14: Multiple growth drivers
Multiple growth drivers Expanding internationally Developing our platform capabilities Growing the number of network members Increasing adoption by our existing customers Acquiring new customers 14
Slide 15: Financial Overview
ma © Financial Overview
Slide 16: Our financial profile
Our financial profile $1,058M 33% 87% Trailing 12mos Revenue1 Core revenue y/y growth2,3 Non-GAAP gross margin2,4 Scale High Growth Attractive Margin Profile 87% 111% 5 Quarters of Core Revenue3,5,6 Dollar-based net retention rate7 Payback period8 From Existing Customers Powerful Land and Expand Eff
Slide 17: Our business model
Our business model CORE FLOAT Subscription Transaction Float Revenue Revenue Revenue Per user pricing to use our platform Usage-based transactional Interest we earn from customer fees and interchange funds while payment transactions Fixed monthly or annual rate income are clearing Price plans depend
Slide 18: Strong revenue growth
Strong revenue growth TOTAL REVENUE CORE REVENUE FLOAT REVENUE 18
Slide 19: Growing adoption & usage
Growing adoption & usage Businesses using Transactions Total payment our solutions1 processed2 volume3 (in thousands) (in millions) ($ in billions) 1 The total number of BILL standalone customers was approximately 201,000; the total number of spending businesses that used Divvy's spend management so
Slide 20: Consistent growth & execution
Consistent growth & execution Total revenue ($ in millions) $296 R C AG % 75 $32 Note: FY ends June 30. 20
Slide 21: Appendix
Appendix 21
Slide 22: Supplemental Information
Supplemental Information 22
Slide 23: Supplemental Information
Supplemental Information 23
Slide 24: Supplemental Information
Supplemental Information * Does not add to total due to rounding. 24
Slide 25: Supplemental Information
Supplemental Information * Does not add to total due to rounding. 25
Slide 26: Supplemental Information
Supplemental Information * Does not add to total due to rounding. 26
Slide 27: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Gross Profit 27
Slide 28: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Operating Expenses 28
Slide 29: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Operating Income and Net Income 29