Risk factors
BILL Holdings (BILL) risk factors
Item 1A of every BILL Holdings, Inc. 10-K on file, and what changed from one year to the next. Readings are automated and can be wrong; check the filing for the exact wording.
- FY2026 10-K risk factors65 risks5 new7 dropped20 reworded
Credit performance and funding risks now cover BILL Divvy Card warehouse facilities, invoice financing losses, and potentially inadequate credit models.
Filed Aug 20, 2026 - FY2025 10-K risk factors67 risks
The company relies heavily on small and medium-sized businesses and card transaction fees. Credit products like the BILL Divvy Card expose the company to potential default and fraud losses. Interest income on customer funds and relationships with key issuing banks are critical to revenue.
Filed Aug 28, 2025