BILL Holdings Inc
For the period ended Jun 30, 2024. Filed Aug 23, 2024.
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FY2024 · Filed Aug 23, 2024
BILL$53.74-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year endedJune 30, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | |||||
| Cash flows from operating activities: | |||||
| Net loss | $(28,878) | $(223,725) | $(326,361) | ||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||
| Stock-based compensation | 248,375 | 313,567 | 197,157 | ||
| Amortization of intangible assets | 79,956 | 80,205 | 75,977 | ||
| Depreciation of property and equipment | 13,838 | 11,258 | 9,161 | ||
| Amortization of capitalized internal-use software costs | 9,369 | 4,215 | 2,366 | ||
| Amortization of debt issuance costs | 6,238 | 6,964 | 4,777 | ||
| Amortization of premium (accretion of discount) on investments in marketable debt securities | (55,062) | (37,194) | 11,386 | ||
| Accretion of discount on loans held for investment | (9,209) | (127) | — | ||
| Provision for expected credit losses on acquired card receivables and other financial assets | 60,105 | 32,189 | 19,879 | ||
| Gain on debt extinguishment | (46,654) | — | — | ||
| Non-cash operating lease expense | 8,642 | 9,493 | 8,601 | ||
| Deferred income taxes | (361) | (1,361) | (4,075) | ||
| Other | 1,756 | 1,254 | (726) | ||
| Changes in assets and liabilities: | |||||
| Accounts receivable | 69 | (4,482) | (3,032) | ||
| Prepaid expenses and other current assets | (6,825) | (16,844) | (12,970) | ||
| Other assets | 7,528 | 320 | 5,105 | ||
| Accounts payable | (1,125) | (1,686) | (3,771) | ||
| Other accruals and current liabilities | 20,992 | 34,465 | 7,460 | ||
| Operating lease liabilities | (9,839) | (10,303) | (7,877) | ||
| Other long-term liabilities | (14,580) | (3,097) | (6,749) | ||
| Deferred revenue | (5,564) | (7,343) | 5,599 | ||
| Net cash provided by (used in) operating activities | 278,771 | 187,768 | (18,093) | ||
| Cash flows from investing activities: | |||||
| Cash paid for acquisition, net of acquired cash and cash equivalents | — | (28,902) | (144,349) | ||
| Purchases of corporate and customer fund short-term investments | (2,682,659) | (2,743,763) | (2,801,697) | ||
| Proceeds from maturities of corporate and customer fund short-term investments | 2,512,107 | 3,283,961 | 1,902,474 | ||
| Proceeds from sale of corporate and customer fund short-term investments | 1,539 | 11,607 | 55,744 | ||
| Purchases of loans held for investment | (359,654) | (5,878) | — | ||
| Principal repayments of loans held for investment | 326,172 | 4,472 | — | ||
| Acquired card receivables, net | (185,486) | (234,256) | (129,178) | ||
| Purchases of property and equipment | (976) | (7,589) | (5,377) | ||
| Capitalization of internal-use software costs | (19,917) | (23,614) | (10,259) | ||
| Proceeds from beneficial interest | — | 2,080 | 6,699 | ||
| Other | (500) | 1,167 | (1,359) | ||
| Net cash provided by (used in) investing activities | (409,374) | 259,285 | (1,127,302) | ||
| Cash flows from financing activities: | |||||
| Proceeds from issuance of common stock upon public offering, net of underwriting discounts and other offering costs | — | — | 1,341,122 | ||
| Proceeds from issuance of convertible senior notes, net of discounts and issuance costs | — | — | 560,075 | ||
| Purchase of capped calls | — | — | (37,893) | ||
| Payments for repurchase of convertible senior notes | (933,187) | — | — | ||
| Proceeds from unwind of capped calls | 11,442 | — | — | ||
| Customer fund deposits liability and other | 353,964 | 204,390 | 941,003 | ||
| Repurchase of common stock | (211,902) | (87,615) | — | ||
| Prepaid card deposits | (17,901) | 26,584 | 29,886 | ||
| Proceeds from line of credit borrowings | 45,000 | 60,000 | 37,500 | ||
| Payments on line of credit and bank borrowings | — | — | (40,000) | ||
| Proceeds from exercise of stock options | 8,114 | 13,872 | 34,024 | ||
| Tax withholdings related to net share settlements of equity awards | (3,862) | — | — | ||
| Proceeds from issuance of common stock under the employee stock purchase plan | 16,495 | 17,879 | 12,849 | ||
| Contingent consideration payout | (10,762) | — | — | ||
| Net cash provided by (used in) financing activities | (742,599) | 235,110 | 2,878,566 | ||
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (240) | (38) | (149) | ||
| Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | (873,442) | 682,125 | 1,733,022 | ||
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year | 4,224,840 | 3,542,715 | 1,809,693 | ||
| Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year | $3,351,398 | $4,224,840 | $3,542,715 | ||
| Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above: | |||||
| Cash and cash equivalents | $985,941 | $1,617,151 | $1,596,542 | ||
| Restricted cash included in other current assets | 174,101 | 87,322 | 85,252 | ||
| Restricted cash included in other assets | 5,297 | 13,810 | 6,724 | ||
| Restricted cash and restricted cash equivalents included in funds held for customers | 2,186,059 | 2,506,557 | 1,854,197 | ||
| Total cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year | $3,351,398 | $4,224,840 | $3,542,715 | ||
| Supplemental disclosure of cash flow information: | |||||
| Cash paid for interest during the period | $12,611 | $7,440 | $4,867 | ||
| Cash paid for income taxes during the period | $5,628 | $1,266 | $— | ||
| Noncash investing and financing activities: | |||||
| Payable on purchases of acquired card receivables | $105,406 | $— | $— | ||
| Fair value of shares issued as consideration for acquisition | $— | $3,375 | $488,494 | ||
| Fair value of stock-based awards assumed in acquisition | $— | $— | $21,724 | ||
| Fair value of earn-out consideration for acquisition | $10,762 | $— | |||
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