Mission Statement, Vision, & Core Values (2024) of Bill.com Holdings, Inc. (BILL).

An Overview of Bill.com Holdings, Inc. (BILL)

General Summary of Bill.com Holdings, Inc. (BILL)

Bill.com Holdings, Inc. (BILL) was founded in 2006 and has established itself as a leading provider of cloud-based software that automates back-office financial operations for small and medium-sized businesses (SMBs). The company offers a comprehensive platform that includes accounts payable and receivable solutions, expense management, and corporate card services through its BILL Divvy Corporate Cards. As of 2024, Bill.com serves approximately 476,200 businesses across various industries, reflecting a growth of 1% from the previous year.

In the latest reporting period, the company processed a total payment volume (TPV) of approximately $79.8 billion, an increase from $70.2 billion in the same period last year. The company continues to innovate and expand its offerings, aiming to enhance customer experience and streamline financial processes for its users.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, Bill.com reported a record-breaking revenue of $358.5 million, up from $305.0 million in the same period of 2023, representing an 18% year-over-year growth. The revenue breakdown is as follows:

The significant increase in revenue was primarily driven by a $44.8 million rise in transaction fee revenue due to increased customer adoption and transaction volume. Gross profit for the same period was reported at $293.8 million, yielding a gross margin of 82.0%, compared to 81.6% in the previous year.

Operating expenses decreased to 84% of total revenue, down from 100% the previous year, reflecting improved cost management. The company achieved a net income of $8.9 million, a significant turnaround from a net loss of $27.9 million in the same quarter of the previous year.

Introduction to Bill.com as a Leader in the Industry

Bill.com has positioned itself as one of the leading companies in the financial technology sector, particularly in automating financial operations for SMBs. The company’s innovative platform and strong focus on customer experience have contributed to its robust growth. As of September 30, 2024, Bill.com processed approximately 28.6 million transactions, up from 24.8 million in the previous year, indicating a 16% growth.

Bill.com’s diverse product offerings and strategic partnerships with over 8,000 accounting firms underscore its commitment to providing comprehensive financial solutions. The company is continually expanding its market presence and enhancing its product suite to meet the evolving needs of its customers, making it a noteworthy competitor in the fintech landscape.

Mission Statement of Bill.com Holdings, Inc. (BILL)

Mission Statement of Bill.com Holdings, Inc. (BILL)

The mission statement of Bill.com Holdings, Inc. reflects its commitment to automating finance for small and medium-sized businesses (SMBs). It emphasizes a focus on enhancing operational efficiency and simplifying financial processes through technology.

As of September 30, 2024, Bill.com reported a total revenue of $358.5 million, representing a growth of 18% compared to the same period in the previous year, when revenue was $304.9 million . The company processes a significant volume of transactions, with approximately 28.6 million transactions processed in the most recent quarter, up from 24.8 million in the prior year.

Core Component 1: Automating Financial Operations

Bill.com aims to automate financial operations for SMBs, allowing them to focus on growth and core business activities. The platform integrates accounts payable and receivable functions, streamlining workflows and improving cash flow management.

For the three months ended September 30, 2024, the total payment volume (TPV) processed by customers using Bill.com's AP/AR solutions was approximately $67.7 billion. This reflects a robust adoption of the platform, with over 156,100 businesses utilizing the core AP/AR services.

Core Component 2: Enhancing Financial Visibility

Another critical component of Bill.com's mission is to provide SMBs with enhanced visibility into their financial transactions. This transparency allows businesses to make informed decisions based on real-time data.

In the recent quarter, Bill.com recorded a gross profit of $293.8 million, achieving a gross margin of 82% . The company's ability to maintain high gross margins while expanding its customer base underscores its commitment to delivering value through its platform.

Core Component 3: Building Trusted Partnerships

Bill.com emphasizes the importance of building trusted partnerships with financial institutions and accounting firms. These collaborations enhance the company's service offerings and broaden its reach within the SMB market.

As of September 30, 2024, Bill.com had partnerships with over 85 of the top 100 accounting firms and seven of the ten largest financial institutions for SMBs in the U.S. . These relationships are vital for driving growth and expanding the customer base, which reached approximately 476,200 businesses using its solutions.

Vision Statement of Bill.com Holdings, Inc. (BILL)

Vision Statement of Bill.com Holdings, Inc. (BILL)

The vision of Bill.com Holdings, Inc. is centered on empowering small and medium-sized businesses (SMBs) through innovative financial solutions that streamline their operations and enhance their financial management. The company aims to automate the financial processes of its users, enabling them to thrive in a competitive market.

As of September 30, 2024, Bill.com reported a total payment volume (TPV) of approximately $79.8 billion, reflecting a significant increase from $70.2 billion in the same period of 2023, marking a growth rate of 14% year-over-year. The company aims to expand its customer base, which currently includes approximately 476,200 businesses utilizing its solutions, up from 471,200 in 2023.

Bill.com is focused on developing innovative, AI-enabled financial software that creates seamless connections between businesses, suppliers, and clients. The platform allows users to generate invoices, manage payments, and control expenses efficiently. In the three months ended September 30, 2024, the company generated revenue of $358.5 million, an increase from $305.0 million in the same period of 2023. The revenue model primarily consists of subscription and transaction fees, which accounted for 88% of total revenue during this period.

Bill.com emphasizes its commitment to customer success by providing high-quality customer support and continuously enhancing the functionality of its products. The company’s vision includes maintaining a strong focus on the needs of SMBs, helping them automate their back-office financial operations.

The company has established partnerships with major financial institutions and accounting firms, which are crucial for its growth strategy. As of September 30, 2024, Bill.com partnered with over 85 of the top 100 accounting firms and seven of the top ten largest financial institutions for SMBs in the U.S.. These collaborations enable Bill.com to expand its reach and enhance the value of its platform for customers.

As of September 30, 2024, the company reported net income of $8.9 million, a significant recovery from a net loss of $27.9 million in the prior year. This turnaround reflects the effectiveness of Bill.com’s growth strategies and operational efficiencies.

Core Values of Bill.com Holdings, Inc. (BILL)

Customer Commitment

The core value of customer commitment emphasizes the importance of delivering exceptional service to clients. Bill.com Holdings, Inc. (BILL) demonstrates this value through its robust customer support and innovative solutions tailored for small and midsize businesses (SMBs).

As of September 30, 2024, BILL has approximately 476,200 businesses using its solutions, reflecting a 1% growth from the previous year. The company processed a total payment volume (TPV) of approximately $79.8 billion during the three months ended September 30, 2024, representing a 14% increase from the same period in 2023.

Innovation

Innovation is a cornerstone of BILL's strategy, driving the development of advanced financial solutions. The company leverages artificial intelligence (AI) to enhance its platform, creating seamless connections between customers, suppliers, and clients.

In the last fiscal quarter, BILL reported a revenue of $358.5 million, up from $305.0 million in the same quarter of the previous year, which is an increase of $53.5 million. This growth can be attributed to the continuous enhancement of its product offerings, including the BILL Divvy Corporate Card and integrated spend management solutions.

Integrity

Integrity underpins all of BILL's operations, fostering trust with customers and partners. The company's commitment to ethical practices is evident in its partnerships with over 8,000 accounting firms and major financial institutions, ensuring transparency and reliability in its services.

As of September 30, 2024, BILL maintained cash and cash equivalents totaling $853.5 million, along with $619.6 million in available-for-sale short-term investments. This solid financial position reflects the company's dedication to responsible management of its resources and customer funds.

Teamwork

Teamwork is essential for BILL's success, as collaboration among employees drives innovation and service excellence. The company fosters a culture that encourages teamwork, which is crucial in navigating the complexities of the financial services landscape.

The total number of transactions processed by BILL's customers reached approximately 28.6 million during the three months ended September 30, 2024, indicating a 16% growth year-over-year. This achievement is a testament to the collective effort of the BILL team in enhancing operational efficiencies and customer satisfaction.

Accountability

Accountability is a key value at BILL, ensuring that all team members take responsibility for their actions and decisions. This commitment is reflected in the company's thorough compliance with financial regulations and its proactive approach to risk management.

During the three months ended September 30, 2024, BILL reported a net income of $8.9 million, a significant turnaround from a net loss of $27.9 million in the same period the previous year. This improvement highlights the company's accountability in managing its finances and operations effectively.

Updated on 16 Nov 2024

Resources:

1. Bill.com Holdings, Inc. (BILL) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of Bill.com Holdings, Inc. (BILL)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Bill.com Holdings, Inc. (BILL)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.