Bill.com Due Diligence

Run due diligence on Bill.com: check compliance and get alerts when suppliers change.

United States · www.bill.com · 19 vendors

BILL Holdings, Inc. provides automated, cloud-based software for financial operations, including accounts payable, accounts receivable, and spend and expense management, primarily for small and midsize businesses. The platform simplifies, digitizes, and automates back-office financial processes, helping businesses manage cash inflows and outflows more efficiently.

Resilience scores

Technology vendors

Services catalogue

2 services in catalogue across 1 category; runs on 19 sub-vendors.

Insights

Last updated 2026-09-13 · revision 1

19 direct vendors, 198 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

12 in-scope frameworks identified; showing 3.

BSA — Evidence found

Evidence: https://www.bill.com/legal/authorizations, https://www.bill.com/product/security, https://www.bill.com/privacy

ISO 27001 (source) — No public evidence

Evidence: https://www.bill.com/product/security

SOC 2 (source) — Evidence found

Evidence: https://www.bill.com/product/security, https://www.bill.com/privacy

Financials

Three-year financials

Financial Resilience Score: 7/10

BILL Holdings demonstrates solid financial resilience despite ongoing GAAP unprofitability. The company generates highly recurring revenue from subscription and transaction fees tied to SMB payment volumes, producing hundreds of millions in non-GAAP operating income and free cash flow annually. It holds a net cash positive balance sheet with approximately $1.5-2B in corporate cash and marketable securities against partially repurchased convertible notes, providing significant liquidity cushion. The business benefits from strong network effects through 9,500+ accounting firm partnerships and embedded relationships with top US banks (BofA, JPMorgan). Diversified monetization streams across AP subscriptions, transaction fees, Divvy card interchange, FX cross-border spread, and float income (~$100M+ annually on $3B+ customer funds) reduce single-line dependency risk. However, GAAP operating losses persist due to heavy stock-based compensation (~20-25% of revenue), and revenue growth has decelerated sharply from >60% in FY23 to 12% in FY25. The SMB customer base is cyclically exposed, and float revenue is highly sensitive to interest rate cycles. Competitive intensity from Intuit, Ramp, Brex, Melio, and Tipalti continues to pressure the market position.

Key strengths: Highly recurring subscription and transaction revenue, Net cash positive balance sheet with $1.5-2B in corporate cash, Strong distribution via 9,500+ accounting firm partners and top US banks, Diversified monetization across AP, AR, Divvy, FX, and float income, $3B+ customer funds generating $100M+ annual float income, Positive non-GAAP operating income and free cash flow, Shift toward profitable growth with cost discipline and buybacks

Risk factors: GAAP unprofitability driven by heavy stock-based compensation (~20-25% of revenue), Revenue growth deceleration from >60% (FY23) to 12% (FY25), SMB customer base cyclicality and macroeconomic exposure, Intense competition from Intuit, Ramp, Brex, Melio, Tipalti, Coupa, Interest rate sensitivity of float revenue, Card interchange regulation risk on Divvy business, Customer concentration in financial-institution channel (BofA, JPMorgan)

Revenue by geography

Revenue by product/service

Workforce by country

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