BILL Holdings Inc 2025年季度报告

FORM10-Q_____________________ (Mark One) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 83-2661725 Delaware (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 6220 America Center Drive, Suite 100,San Jose,CA 95002 (Zip Code) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered The New York Stock Exchange Indicate 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 1934during 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 filingrequirements for the past 90 days.YesxNoo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. Large accelerated filer oSmaller reporting company Non-accelerated filer Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesoNox As of May1, 2025, the registrant had103,027,139shares of common stock, $0.00001 par value per share, outstanding. BILL HOLDINGS, INC.TABLE OF CONTENTS Special Note Regarding Forward-Looking Statements Part I. FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)Condensed Consolidated Balance SheetsCondensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive Income (Loss)Condensed Consolidated Statements of Stockholders’ EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsNote 1 – The Company and Its Significant Accounting PoliciesNote 2 – RevenueNote 3 – Fair Value MeasurementNote 4 – Short-Term Investments and Funds Held for CustomersNote 5 – Acquired Card ReceivablesNote 6 – Loans Held for InvestmentNote 7 – Debt and BorrowingsNote 8 – Stockholders’ EquityNote 9 – Other Income, NetNote 10 – Income TaxesNote 11 – Commitments and ContingenciesNote 12 – Net Income (Loss) Per Share Attributable to Common StockholdersItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures Part II. OTHER INFORMATION47Item 1.Legal Proceedings47Item 1A.Risk Factors47Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities86Item 3.Defaults Upon Senior Securities86Item 4.Mine Safety Disclosures86Item 5.Other Information86Item 6.Exhibits87 SIGNATURES88 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. All statements contained in thisQuarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our futureoperating results and financial position, our business strategy and plans, market growth, and our objectives for futureoperations, 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 identifyforward-looking statements. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to,statements about: •our future financial performance, including our expectations regarding our revenue, cost of revenue, grossprofit, and operating expenses, and our ability to sustain and expand profitability;•our business plan and our ability to effectively manage our growth;•our market opportunity, including our total addressable market;•anticipated trends, growth rates, and challenges in our business and in the markets in which we operate;•our ability to further attract, retain, and expand our customer base;•the political, economic, and macroeconomic climate, including economic downturns or recessions,inflation, significant political and re