MEDIUMBuilt-inCustomer
small and medium-sized businesses
“10-K Item 1A: 'A significant portion of our revenue comes from small and medium-sized businesses, which may have fewer financial resources to weather an economic downturn'”
BILL · Concentration risk · 10-K extracted
BILL Holdings (BILL) concentration risks
Updated
The most significant concentration BILL Holdings discloses is small and medium-sized businesses, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: BILL Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-25BILL's only disclosed concentration is in who it sells to: a significant portion of revenue comes from small and medium-sized businesses, which the filing says may have fewer financial resources to weather an economic downturn. This is a medium-share, structural exposure. It reflects the company's chosen market rather than reliance on any one counterparty, so there is no single customer whose loss would move the verdict. The risk is therefore cyclical and diffuse rather than idiosyncratic. A weaker economy would raise churn and failure rates across a large number of small accounts at once, and that would show up in volumes and retention rather than in a sudden step-down. The filing provides no percentage for this share, so its exact weight cannot be stated from the source. Netting it out, the exposure is well disclosed, structural and tied to the macro cycle. It matters mainly as a sensitivity to downturns in small-business health, not as a dependency that could abruptly break the revenue base.
For the engine’s reasoning on BILL’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Software - Application
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ADSK | Autodesk, Inc. | 1 | 1 | 1 | 3 |
| ADEA | Adeia Inc. | 1 | 0 | 0 | 1 |
| AGYS | Agilysys, Inc. | 0 | 2 | 0 | 2 |
| BILL● | BILL Holdings, Inc. | 0 | 1 | 0 | 1 |
| ADBE | Adobe Inc. | 0 | 0 | 0 | 0 |
| ADP | Automatic Data Processing, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.