LOS ANGELES, May 21, 2024 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL), today announced that it intends to offer, subject to market conditions and other factors, $500,000,000 aggregate principal amount of convertible senior notes due 2029 (the "notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). BlackLine also intends to grant the initial purchaser of the notes a 13-day option to purchase up to an add ...

Digital finance transformation leader is the only company recognized for both Invoice to Cash and Record to Report in 2024 ISG Provider Lens™ study LOS ANGELES, May 13, 2024 /PRNewswire/ -- Global technology research and advisory firm Information Services Group (ISG) has named BlackLine, Inc. (Nasdaq: BL) a leader in two categories – Invoice to Cash (I2C) and Record to Report (R2R) – in its latest Provider Lens™ study that assesses platform providers for their ability to help businesses transform and manage ...

Part I. Financial Information [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) For the quarter ended March 31, 2024, BlackLine, Inc. reported total revenues of $157.5 million, a 13% increase year-over-year, achieving net income of $10.8 million from a prior year net loss Condensed Consolidated Statements of Operations (Unaudited) | Financial Metric | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | **Total Revenues** | **$157,461** | **$138,984** | | Gross Profit | $118,364 | $103,713 | | Income (Loss) from Operations | $1,748 | $(15,313) | | **Net Income (Loss) Attributable to BlackLine, Inc.** | **$10,829** | **$(12,008)** | | Diluted Net Income (Loss) per Share | $0.17 | $(0.20) | Condensed Consolidated Balance Sheets Highlights (Unaudited) | Balance Sheet Item | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $331,401 | $271,117 | | Marketable securities | $913,453 | $933,355 | | **Total Assets** | **$2,088,885** | **$2,100,765** | | Convertible senior notes, net | $1,391,226 | $1,389,841 | | **Total Liabilities** | **$1,775,151** | **$1,809,821** | | Total Stockholders' Equity | $279,834 | $260,881 | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Q1 2024 (in thousands) | Q1 2023 (in thousands) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$50,425** | **$22,867** | | Net cash provided by investing activities | $20,990 | $8,999 | | Net cash used in financing activities | $(10,925) | $(10,233) | | Net increase in cash, cash equivalents, and restricted cash | $60,278 | $21,592 | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported a 13% year-over-year revenue increase to $157.5 million for Q1 2024, driven by a 4% rise in customers and a 5% increase in users, achieving GAAP operating income of $1.7 million while maintaining a strong liquidity position despite economic uncertainty - Revenue growth was primarily driven by an increase in the number of customers and users, with totals reaching **4,411** and **387,050**, respectively, at the end of Q1 2024[154](index=154&type=chunk)[181](index=181&type=chunk) Key Business Metrics | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Dollar-based net revenue retention rate | 105% | 106% | | Number of customers | 4,411 | 4,236 | | Number of users | 387,050 | 369,493 | - The company has observed customers delaying and deferring purchasing decisions due to economic uncertainty, which has adversely impacted near-term demand[40](index=40&type=chunk)[146](index=146&type=chunk) - The company's principal sources of liquidity as of March 31, 2024, were an aggregate of **$1.2 billion** in cash, cash equivalents, and marketable securities[190](index=190&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks primarily from interest rates, foreign currency fluctuations, and inflation, affecting its $1.4 billion in convertible senior notes and international operations, without current hedging strategies - The company has **$1.4 billion** in aggregate principal of convertible senior notes with fixed interest rates, but their fair value is exposed to interest rate risk and fluctuations in the company's stock price[190](index=190&type=chunk)[202](index=202&type=chunk) - The company transacts in multiple foreign currencies and is exposed to foreign currency risk. A hypothetical 10% change in foreign currency exchange rates would have impacted cash balances by approximately **$3.4 million** as of March 31, 2024[229](index=229&type=chunk) - The company does not currently use derivative instruments to hedge against interest rate or foreign currency risks[229](index=229&type=chunk)[247](index=247&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation as of March 31, 2024, the company's principal executive and financial officers concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management, including the principal executive and financial officers, evaluated the effectiveness of disclosure controls and procedures and concluded they were effective as of March 31, 2024[250](index=250&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, internal controls[252](index=252&type=chunk) Part II. Other Information [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) As of the report date, BlackLine is not a party to any litigation that is reasonably expected to have a material adverse effect on its financial condition or results of operations - The company is not currently party to any litigation that would be reasonably expected to have a material adverse effect on its business, financial position, or brand[42](index=42&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The company identifies significant risks to its business, including intense competition, dependence on customer acquisition and renewals, and potential impacts from economic uncertainty, alongside operational, financial, and regulatory challenges - The market for accounting and financial software is highly competitive, with competitors that may have greater name recognition, resources, and ability to respond to market changes[1](index=1&type=chunk) - Business growth is substantially dependent on customers renewing their subscription agreements, which can be negatively affected by economic conditions, competition, and customer satisfaction[49](index=49&type=chunk) - A security breach or unauthorized access to confidential customer data could lead to loss of customers, reputational damage, and significant liabilities. The increased use of AI/ML may introduce additional cybersecurity risks[18](index=18&type=chunk)[20](index=20&type=chunk) - The company relies on third-party public cloud providers (GCP, Azure, AWS) to deliver its solutions, and any disruption from these providers could negatively impact operations and harm the business[257](index=257&type=chunk) - The company has a history of losses, with fiscal year 2023 being its first profitable full year, and may not achieve or maintain profitability in the future due to expected cost increases in R&D, sales, and international expansion[34](index=34&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=74&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities, no use of proceeds from registered securities, and no issuer purchases of equity securities during the period - There were no unregistered sales of equity securities or issuer purchases of equity securities during the quarter[331](index=331&type=chunk) [Item 5. Other Information](index=74&type=section&id=Item%205.%20Other%20Information) During the quarter, Chief Financial Officer Mark Partin and Chief Legal and Administrative Officer Karole Morgan-Prager each adopted a Rule 10b5-1 trading arrangement for the sale of company common stock, while Lead Independent Director Thomas Unterman adopted and subsequently terminated a similar plan - CFO Mark Partin and CLO Karole Morgan-Prager adopted Rule 10b5-1 trading arrangements in March 2024 for the potential sale of up to **140,956** and **117,260** shares, respectively[315](index=315&type=chunk) [Item 6. Exhibits](index=74&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including CEO and CFO certifications and Inline XBRL documents, as required by SEC regulations - The report includes an index of exhibits filed, such as officer certifications pursuant to the Sarbanes-Oxley Act and interactive data files in Inline XBRL format[316](index=316&type=chunk)[318](index=318&type=chunk)

BlackLine, Inc. (NASDAQ:BL) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Matt Humphries - Vice President of Investor Relations Owen Ryan - Co-Chief Executive Officer Therese Tucker - Co-Chief Executive Officers Mark Partin - Chief Financial Officer Conference Call Participants Rob Oliver - Baird Chris Quintero - Morgan Stanley Jaydeep Patel - JPMorgan Adam Hotchkiss - Goldman Sachs Brent Bracelin - Piper Sandler Koji Ikeda - Bank of America George Kurosawa - Citi Pat Walraven ...

BlackLine (BL) reported $157.46 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 13.3%. EPS of $0.54 for the same period compares to $0.34 a year ago.The reported revenue represents a surprise of +1.56% over the Zacks Consensus Estimate of $155.05 million. With the consensus EPS estimate being $0.47, the EPS surprise was +14.89%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

BlackLine (BL) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.89%. A quarter ago, it was expected that this company would post earnings of $0.55 per share when it actually produced earnings of $0.69, delivering a surprise of 25.45%.Over the last four quarters, the company has surp ...

BlackLine As of May 7th, 2024 Safe Harbor WHO WE ARE OUR WINNING ASPIRATION Market Leader with Large & Unpenetrated $39B TAM $$$ Model BlackLine's Market: The Office of the CFO Treasury Operations Cash Management Liability Management FP&A Forecasting Budgeting Office of the CFO The Controllership Tax, Audit & Compliance Corporate Development Tax, Regulatory & Compliance Risk Management M&A Strategy GL Accounting AR/AP Management Consolidation Financial Close Billing Financial Reporting Data Data Data Data T ...

Dollar-based Net Revenue Retention Rate. Dollar-based net revenue retention rate is calculated as the implied monthly subscription and support revenue at the end of a period for the base set of customers from which the Company generated subscription revenue in the year prior to the calculation, divided by the implied monthly subscription and support revenue one year prior to the date of calculation for that same customer base. This calculation does not reflect implied monthly subscription and support revenu ...

Analysts on Wall Street project that BlackLine (BL) will announce quarterly earnings of $0.47 per share in its forthcoming report, representing an increase of 38.2% year over year. Revenues are projected to reach $155.05 million, increasing 11.6% from the same quarter last year.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this perio ...

Jimmy Duan to lead all customer- and partner-facing teams at digital finance transformation leader LOS ANGELES, May 6, 2024 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL) announced today that software veteran Jimmy Duan has joined the company as chief customer officer, effective May 6th. In his new role, Mr. Duan will oversee the company's Implementation, Customer Success, Support, and Training teams, as well as the Strategic Alliances & Channels teams. The digital finance transformation leader provides marke ...