BILL Holdings, Inc.BILL

BILL Holdings, Inc. Earnings Per Share Disclosure

10-KFiled Aug 28, 20252 min read
NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
The following table presents the calculation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except per share amounts):
June 30,
2025(1)
20242023
Numerator:
Net income (loss) attributable to common stockholders
Basic$23,799 $(28,878)$(223,725)
Gain on debt extinguishment, net of change on mark to market derivatives and amortization of debt issuance costs(31,327)— — 
Diluted$(7,528)$(28,878)$(223,725)
Denominator:
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders
Basic103,568 106,102 105,976 
Effect of dilutive securities:
Convertible senior notes344 — — 
Diluted103,912 106,102 105,976 
Net income (loss) per share attributable to common stockholders:
Basic$0.23 $(0.27)$(2.11)
Diluted$(0.07)$(0.27)$(2.11)
(1) For the fiscal year ended June 30, 2025, the dilutive effect of outstanding equity awards is reflected in diluted earnings per share by application of the treasury stock method and if-converted method.
Potentially dilutive securities, which were excluded from the diluted net income (loss) per share calculations because they would have been antidilutive, were as follows (in thousands):
June 30,
202520242023
Equity awards9,511 6,641 6,772 
Convertible senior notes12,226 2,426 8,534 
Total21,737 9,067 15,306 
Shares issuable under the Notes is subject to adjustment up to approximately 16.6 million shares if certain corporate events occur prior to the maturity date of the Notes or if the Company issues a notice of redemption. As of June 30, 2025, no conversion was triggered for the Notes.

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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