Bill Com Holdings Inc (BILL)

Days of inventory on hand (DOH)

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Inventory turnover		—	—	—	—	—	—	0.06	0.06	0.06	0.06	0.05	—	—	—	—	—	—	—	—	—
DOH	days	—	—	—	—	—	—	6,182.60	5,813.65	6,314.74	6,133.24	7,314.55	—	—	—	—	—	—	—	—	—

June 30, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ —
= —

The days of inventory on hand (DOH) for Bill Com Holdings Inc. exhibit a pattern characterized by a lack of recorded data for most of 2020 through the first half of 2022, with the metric marked as unavailable (denoted by "— days"). Starting from the end of 2022, a significant and unusual spike in DOH is observed, with December 31, 2022, reporting approximately 7,314.55 days. This figure indicates an anomalously high level of inventory relative to sales or cost of goods sold, suggesting potential issues such as inventory misstatement, accounting irregularities, or the inclusion of obsolete or heavily reserved stock.

Subsequently, in the first quarter of 2023, the DOH decreases markedly to approximately 6,133.24 days, implying some correction or reassessment of inventory levels. During the second quarter of 2023, the figure slightly increases again to approximately 6,314.74 days, maintaining a high yet somewhat stable level compared to the previous quarter. By the third quarter of 2023, the DOH reduces further to approximately 5,813.65 days, indicating an improvement or adjustment in inventory management or valuation.

In the final quarter of 2023, the DOH slightly rises again to approximately 6,182.60 days. Throughout this period, the DOH remains extraordinarily elevated when compared to typical industry standards, which generally range from several weeks to a few months (roughly 30 to 180 days). Such persistently high figures suggest that the reported inventory levels are disproportionately large relative to sales activity, likely driven by accounting anomalies or inventory valuation issues rather than actual operational stock levels.

Overall, the recorded data reflect periods of significant irregularity, with the most notable being the extraordinary spike at the end of 2022. The subsequent notable decline through 2023 indicates attempts to reconcile or adjust inventory figures, although the values remain unusually high and inconsistent with standard operational practices. These patterns underscore the importance of scrutinizing the underlying accounting methods and inventory valuation policies adopted in these periods for a comprehensive and accurate assessment.