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    BlackLine Inc (BL)

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    Business Description

    BlackLine, Inc. (BL) is a global provider of cloud-based solutions designed to modernize and automate accounting and finance operations for midsize and enterprise organizations. The company offers a unified platform that addresses critical financial processes, including financial close, intercompany accounting, and invoice-to-cash operations. BlackLine sells subscriptions to its software platform and provides professional services to help customers optimize their use of its solutions.

    1. Subscription and Support - Provides access to BlackLine's cloud-based software platform, enabling customers to automate and streamline financial processes such as account reconciliations, transaction matching, and financial reporting analytics.
    2. Professional Services - Offers implementation and consulting services to help customers optimize the use of BlackLine's solutions, with services invoiced on a time-and-materials basis or for a fixed fee.

    Key Metrics

    View all financials →
    Revenue by Segment - in Millions of USDQ3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Subscription and Support147.16555.52149.501151.79157.011161619.3158.46
    Professional Services8.5834.487.9608.728.8988.4234.08.47
    Total Revenue155.75590.00157.461160.51165.909169.42653.3166.93
    Revenue by Geography - in Millions of USDQ3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    United States109.37422.192111.4-116.897-457.96116.370
    - International46.36167.80446.147.67049.01252.6195.3850.561
    Total Revenue155.74589.996157.5160.506165.909169.43653.34166.931
    KPIs - Metric (Unit, Scale)Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Dollar-based net revenue retention rate (percentage)-106105104105-102104
    Number of customers (count)-4,3984,4114,4354,433-4,4434,455
    Number of users (count)-386,814387,050396,366397,095-397,477393,892

    Questions to Ask Management

    1. How sustainable is the Q1 margin beat considering the ongoing strategic investments and potential macro headwinds, and can you provide more detail on the key drivers enabling this performance?
    2. Can you explain the reasons behind the slight dip in the overall renewal rate this quarter despite efforts to drive multi-year contracts, and what specific steps are being implemented to mitigate churn in both enterprise and mid-market segments?
    3. With the increased adoption of the new platform pricing model resulting in user migration to a zero user count, how are you tracking its impact on average deal sizes and overall revenue growth?
    4. Given the expansion of multi-year contracts, what are the implications for deferred revenue recognition, and how might this affect TTM billings in future quarters?
    5. In light of macro uncertainty and evolving global policies, what contingency strategies are in place to sustain the current pipeline growth and maintain deal quality across diverse geographies and industry verticals?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateNovember 17, 2024
    End Date/DurationEnd of Q1 FY 2027
    Total Additional Amount$200 million
    Remaining Authorization$154.5 million (as of March 31, 2025)
    DetailsRepurchases may be made through open market purchases or privately-negotiated transactions, subject to market conditions and other relevant factors. The program does not obligate the company to acquire any specific amount of stock and can be suspended at any time at the company's discretion.

    Latest news

    Recent press releases and 8-K filings for BL.

    BlackLine Reshapes Leadership and Strengthens SAP Partnership
    •BL
    Management Change
    Revenue Acceleration/Inflection
    New Projects/Investments
    • Leadership transformation: BlackLine refreshed its senior team in 2024 (excluding the chief administrative/legal officer) to advance its operating model and growth trajectory.
    • Go-to-market enhancement: The company reengineered its strategy, emphasizing a new pricing approach and a robust SAP integration using a "golden architecture" to drive customer value.
    • New revenue acceleration: With the recent appointment of Chief Revenue Officer Stuart Van Halen from SAP, enhanced sales rigor and reporting are now in place to boost deal closures.
    • Efficiency initiatives: Ongoing GCP migration and integration of AI in support functions are set to elevate gross margins by reducing costs and optimizing cloud operations.
    Jun 10, 2025, 4:15 PM
    Transcript
    BlackLine Announces Q1 2025 Financial Results
    •BL
    Earnings
    Share Buyback
    Guidance Update
    • Total GAAP revenue reached $166.9 million, up 6% compared to Q1 2024, demonstrating solid top-line growth.
    • GAAP operating margin improved to 2.1% from 1.1% in Q1 2024, with non-GAAP operating margin at 20.9%.
    • Net income figures reported include GAAP net income of $6.1 million and non-GAAP net income of $36.3 million, indicating profitability adjustments.
    • Additional highlights include billings of $159.0 million (up 9%) and a share repurchase of approximately 0.9 million shares for $45.5 million.
    May 6, 2025, 12:00 AM
    8-K