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BlackLine(BL) - 2021 Q3 - Quarterly Report
2021-11-05 20:48
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0 ...
BlackLine(BL) - 2021 Q3 - Earnings Call Transcript
2021-11-05 02:40
Financial Data and Key Metrics Changes - Total revenue grew 21% year-over-year, led by subscription and support revenue, which increased by 23% [28][30] - Non-GAAP net income attributable to BlackLine was $15.1 million, with operating cash flow of $17.1 million and free cash flow of $9.8 million [31] - Non-GAAP gross margins remained at 80%, despite increased costs associated with Google Cloud migration and the Rimilia acquisition [31] Business Line Data and Key Metrics Changes - The net dollar retention rate improved to 108%, indicating strong account growth as customers expanded their use of BlackLine products [8][30] - Strategic products represented 15% of sales for the quarter, with over 30% growth year-over-year [30] - The company added 106 net new customers in the quarter, bringing the total to 3,704 customers [29] Market Data and Key Metrics Changes - International revenue grew 41% in Q3, now accounting for 28% of total revenue, up from 25% in the prior year [17] - The company experienced strong growth in both the European and Asia Pacific regions, with a healthy mix of new logos and expansions [17][24] Company Strategy and Development Direction - The company is focused on increasing customer engagement, innovating its platform, and expanding its international presence as key growth levers [20][24] - Investments are being made to enhance customer success and drive digital transformation in finance and accounting processes [20][26] - The company aims to be the most indispensable platform for controllers, with plans to introduce new products in financial close and accounts receivable automation [23] Management's Comments on Operating Environment and Future Outlook - Management noted a resurgence in market demand over five consecutive quarters, exceeding pre-pandemic levels [6][32] - The company believes it is in the early stages of a long-term growth opportunity fueled by digital transformation [19][35] - Management expressed confidence in the ability to capitalize on favorable market conditions and maintain focus on customer success [35] Other Important Information - The company will host the BeyondTheBlack event from November 16th to 18th, featuring over 50 hours of content focused on digital finance transformation [83] - The five-year anniversary of BlackLine's IPO was acknowledged, highlighting the company's achievements [27] Q&A Session Summary Question: What drove the record number of new large deals this quarter? - Management indicated that widespread demand and strong execution contributed to the increase in large deals, with a notable wave of investment flowing into accounting departments [38] Question: What is driving the net revenue retention rate? - The increase in net revenue retention rate is attributed to record user expansion and investments in customer success and account management [40] Question: Can you discuss the traction of the AR portfolio and the Rimilia acquisition? - Initial traction has been strong, with the combination of AR and BlackLine being competitive in the market [42][44] Question: How is the international performance trending? - International growth is widespread, with demand patterns similar to those seen in North America, indicating significant opportunities for future growth [71] Question: What are the top priorities for the sales organization moving into 2022? - Key priorities include investing in customer success, platform innovation, and expanding international growth [80]
BlackLine(BL) - 2021 Q2 - Earnings Call Transcript
2021-08-05 23:53
BlackLine, Inc. (NASDAQ:BL) Q2 2021 Results Conference Call August 5, 2021 5:00 PM ET Company Participants Alexandra Geller - Vice President-Investor Relations Marc Huffman - Chief Executive Officer Mark Partin - Chief Financial Officer Conference Call Participants Robert Oliver - Robert W. Baird Matthew Stotler - William Blair Matthew VanVliet - BTIG Alexander Sklar - Raymond James Andrew DeGasperi - Berenberg Matthew Coss - JPMorgan Clarke Jeffries - Piper Sandler Operator Ladies and gentlemen, thank ...
BlackLine(BL) - 2021 Q2 - Quarterly Report
2021-08-05 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share BL NASDAQ Global Select Market For the quarterly period ended June 30, 2021 OR ☐ TR ...
BlackLine(BL) - 2021 Q1 - Earnings Call Presentation
2021-05-07 23:01
BlackLine Investor Presentation As of May 6, 2021 2 Safe Harbor This presentation contains forward-looking statements. These statements may relate to, but are not limited to, expectations of future operating results or financial performance of BlackLine, Inc. ("BlackLine" or the "Company"), the calculation of certain key financial and operating metrics, capital expenditures, introduction of new solutions or products, expansion into new markets, regulatory compliance, plans for growth and future operations, ...
BlackLine(BL) - 2021 Q1 - Quarterly Report
2021-05-07 20:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share BL NASDAQ Global Select Market For the quarterly period ended March 31, 2021 OR ☐ T ...
BlackLine(BL) - 2021 Q1 - Earnings Call Transcript
2021-05-07 01:11
BlackLine, Inc. (NASDAQ:BL) Q1 2021 Earnings Conference Call May 6, 2021 5:00 PM ET Company Participants Alex Geller - Vice President-Investor Relations Marc Huffman - Chief Executive Officer Mark Partin - Chief Financial Officer Conference Call Participants Matt Stotler - William Blair Rob Oliver - Baird Andrew DeGasperi - Berenberg Hannah Rudoff - Piper Sandler Koji Ikeda - Bank of America Alex Sklar - Raymond James Matt Coss - JPMorgan Matt VanVliet - BTIG Operator Good day. Thank you for standing by. An ...
BlackLine(BL) - 2020 Q4 - Annual Report
2021-02-25 21:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-K ______________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37924 ______________________________________ BlackLine ...
BlackLine(BL) - 2020 Q4 - Earnings Call Transcript
2021-02-12 01:11
Financial Data and Key Metrics Changes - For the full year 2020, total revenue grew 22% to $351.7 million, with Q4 revenue growth at 19% [44][46] - Gross margins remained high at 83%, with record profitability and cash flow of $46 million in net income and $55 million in cash from operations [45] - The dollar base net revenue retention rate slightly decreased to 106% in Q4 due to macroeconomic impacts [50] Business Line Data and Key Metrics Changes - The MAP offering generated a record number of new logos in Q4, contributing significantly to new customer acquisition [24] - SOLEX partnership added nearly twice as many new logos compared to 2019, indicating strong performance [25][26] - The new cash application product generated significant interest, with early indicators showing strong market reception [27] Market Data and Key Metrics Changes - International business accounted for 26% of total revenue, up from 24% in the prior year [48] - Revenue from the SAP partnership totaled 24% of total revenue, up from 23% in Q3 [48] - 70% of large deals in Q4 involved a partner, consistent with prior year performance [48] Company Strategy and Development Direction - The company plans to continue investing in product innovation and customer success to fuel accelerated growth [31][34] - The acquisition of Rimilia is expected to expand the total addressable market to over $28 billion, focusing on accounts receivables automation [14] - The strategy for 2021 includes leveraging the partner ecosystem and enhancing customer experiences through offerings like MAP [34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth due to improving demand and strong fundamentals [47] - The expectation is for continued improvement in the demand environment throughout 2021, with a focus on digital transformation [35][102] - There is caution regarding timing in the macro environment affecting overall performance [36] Other Important Information - The company achieved a best-in-class virtual event Net Promoter Score of 62 during the BeyondTheBlack event, which attracted 18,000 registrants [21][19] - The company is committed to building a more inclusive, equitable, and diverse workplace [34] Q&A Session Summary Question: What are you hearing from customers driving demand for SOLEX? - Management noted that customers are seeking to organize and digitize their close processes, which has driven strong logo ads [61] Question: How is the hiring pace and capacity for 2021? - The company has retained a strong sales team and plans to hire additional sales and marketing personnel as demand returns [67] Question: Any updates on the partner channel's evolution? - The partner community has shown consistent performance, with increased engagement due to the demand for remote close solutions [71] Question: How many new customers were added from the Rimilia acquisition? - Approximately 100 of the 207 net new customers in Q4 were from the Rimilia acquisition [75] Question: What are the synergies expected from the Rimilia acquisition? - Management expects to see synergies in cash application and accounts receivable, with cautious optimism about market trends [109][110] Question: Will there be changes in the services revenue mix due to Rimilia? - The services revenue mix is expected to remain similar to historical trends, with no significant acceleration anticipated [114]
BlackLine (BL) Investor Presentation - Slideshow
2020-12-02 19:24
BlackLine Investor Presentation As of November 9, 2020 2 Safe Harbor This presentation contains forward-looking statements. These statements may relate to, but are not limited to, expectations of future operating results or financial performance of BlackLine, Inc. ("BlackLine" or the "Company"), the calculation of certain key financial and operating metrics, capital expenditures, introduction of new solutions or products, expansion into new markets, regulatory compliance, plans for growth and future operati ...