Company Overview - BlackLine has appointed Philippe Omer Decugis as Senior Vice President and General Manager for Europe, bringing over 20 years of experience in technology and financial services to lead European operations [1][2] - The company focuses on empowering CFOs with future-ready financial operations through its innovative technology and customer-first mindset [4] Leadership and Strategy - Philippe Decugis will oversee BlackLine's strategic initiatives in Europe, aiming to expand regional presence, drive innovation, and enhance customer success [2][3] - His leadership is expected to unlock significant opportunities in Europe by blending operational excellence with a customer-centric approach [2] Product and Market Position - BlackLine's platform addresses critical financial processes such as record-to-report and invoice-to-cash, providing unified data, streamlined processes, and real-time insights through automation and AI [5] - The company has a proven track record of innovation and industry-leading R&D investment, serving over 4,400 customers across various industries [5]

LOS ANGELES, Nov. 12, 2024 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL) announced today that it will host its upcoming Investor Day on November 19th, 2024 in Orlando, FL at 1:00pm ET. The event will feature presentations by senior executives, who will provide an update on the company’s strategy, innovation and financials. A live webcast and replay will be accessible on BlackLine’s investor relations website at https://investors.blackline.com/. About BlackLine BlackLine (Nasdaq: BL), the future-ready pla ...

LOS ANGELES, Nov. 12, 2024 (GLOBE NEWSWIRE) -- BlackLine (Nasdaq: BL), the future-ready platform for the Office of the CFO, today announced the winners of its 2024 Modern Accounting Awards. Now in its sixth year, the global awards program celebrates visionary customers who have revolutionized their finance and accounting practices, achieving transformational outcomes by leveraging BlackLine’s innovative solutions. This year's winners, hailing from diverse industries and regions, have demonstrated outstandin ...

LOS ANGELES, Nov. 12, 2024 (GLOBE NEWSWIRE) -- BlackLine (Nasdaq: BL), the future-ready platform for the Office of the CFO, today announced the winners of its 2024 Modern Accounting Awards. Now in its sixth year, the global awards program celebrates visionary customers who have revolutionized their finance and accounting practices, achieving transformational outcomes by leveraging BlackLine’s innovative solutions. This year's winners, hailing from diverse industries and regions, have demonstrated outstandin ...

Financial Performance - For the quarter ended September 30, 2024, the company reported revenues of $165.9 million, a 10.1% increase from $150.7 million in the same quarter of 2023[77]. - The net income attributable to BlackLine, Inc. for the quarter ended September 30, 2024, was $17.2 million, compared to $11.9 million for the same quarter in 2023, representing a 44.5% increase[77]. - For the nine months ended September 30, 2024, revenues totaled $483.9 million, up from $434.3 million in the same period of 2023, marking an increase of 11.3%[77]. - Non-GAAP gross profit for the quarter ended September 30, 2024, was $131.7 million, with a non-GAAP gross margin of 79.4%[85]. - Non-GAAP operating income for Q3 2024 was $37,624, significantly higher than $24,066 in Q3 2023, marking a 56.5% increase[88]. - Non-GAAP net income attributable to BlackLine, Inc. for Q3 2024 was $44,428, compared to $37,857 in Q3 2023, reflecting a 17% increase[88]. - Total revenues for Q3 2024 reached $165,909, a 10% increase from $150,708 in Q3 2023[90]. - Subscription and support revenue increased by 11% to $157,011 in Q3 2024, compared to $142,054 in Q3 2023[90]. Customer Metrics - As of September 30, 2024, the company had 397,095 individual users across 4,433 customers[75]. - The number of customers increased to 4,433 in September 2024, up from 4,368 in September 2023, a growth of 1%[91]. - The number of users grew to 397,095 in September 2024, an increase of 4% from 381,892 in September 2023[91]. - The dollar-based net revenue retention rate was 105% as of September 30, 2024, indicating strong customer retention and growth[80]. - The company reported a dollar-based net revenue retention rate of 105% for both September 2024 and September 2023[91]. Operating Expenses - Total operating expenses for Q3 2024 were $116,440, slightly up from $114,988 in Q3 2023[89]. - General and administrative expenses for the quarter ended September 30, 2024, increased by 57% to $28,216,000 from $18,026,000 in the prior year[97]. - Sales and marketing expenses for the quarter ended September 30, 2024, were $62,219,000, a slight increase of 1% from $61,576,000 in the same quarter of 2023[93]. - Research and development expenses for the quarter ended September 30, 2024, were $25,649,000, a 4% decrease from $26,722,000 in the same quarter of 2023[95]. Cash Flow and Liquidity - For the nine months ended September 30, 2024, the company reported net cash provided by operating activities of $147.0 million, an increase from $84.4 million for the same period in 2023[112]. - The company had $846.3 million in cash and cash equivalents and marketable securities as of September 30, 2024, sufficient to meet working capital needs for at least the next 12 months[104]. - Cash provided by investing activities for the nine months ended September 30, 2024, was $810.4 million, primarily due to $830.0 million from maturities and sales of marketable securities[115]. - Cash used in financing activities for the nine months ended September 30, 2024, was $503.4 million, mainly due to the partial repurchase of the 2026 Notes amounting to $848.5 million[117]. Debt and Obligations - The company had $905.2 million in aggregate principal amount of Notes outstanding as of September 30, 2024, with plans to make all expected interest payments in the next 12 months[105]. - The company has $206 million of purchase obligations related to eight commitments, with $47 million payable within 12 months as of September 30, 2024[108]. - The company is potentially obligated to pay a maximum of $73.2 million of contingent consideration related to the FourQ Acquisition if certain financial performance milestones are met[109]. - The company issued $675.0 million in 2029 Notes with a fixed annual interest rate of 1.00%, exposing the fair value to interest rate risk[122]. Economic and Market Conditions - Economic uncertainties have led to customers delaying purchasing decisions, impacting near-term demand for the company's products[78]. - The company does not expect a 10% change in interest rates to materially affect the fair market value of its investment portfolio due to its short-term nature[122]. - The company has not entered into foreign currency hedging contracts, as fluctuations have not materially impacted operating results and cash flows[123]. - A hypothetical 10% change in foreign currency exchange rates could have resulted in a $3.5 million fluctuation in cash balances as of September 30, 2024[123]. - The company does not believe inflation has materially affected its business, but significant inflationary pressures could harm financial condition and results[124]. Strategic Initiatives - The company has established strategic relationships with technology vendors and professional services firms, including a collaboration with Google Cloud for joint selling activities[76]. - The company remains committed to investing in artificial intelligence to enhance its platform and business[96].

Financial Data and Key Metrics Changes - Total revenue grew to $166 million, up 10% year-over-year, with subscription revenue growth of 11% and services revenue growth of 3% [54] - Remaining performance obligations (RPO) increased by 12%, driven by account growth and longer contract terms from renewing customers [54] - Current RPO was up 11%, with total annual recurring revenue (ARR) of $638 million, also up 10% [54] - Non-GAAP gross margin was 79%, with non-GAAP subscription gross margin at 82% [61] - Non-GAAP operating margin was 23%, above expectations, largely due to R&D efficiency [61] - Non-GAAP net income attributable to BlackLine was $44 million, up 17%, representing a 27% non-GAAP net income margin [62] Business Line Data and Key Metrics Changes - The enterprise segment demonstrated strong performance with a 97% renewal rate, consistent with historical levels, while the overall renewal rate was 92% [21] - The mid-market segment experienced expected churn, with renewal rates in the 80s [21] - Strategic product performance represented 31% of sales, above the target range, driven by strength in financial reporting and analytics as well as transaction matching [59] Market Data and Key Metrics Changes - The company is focusing on larger enterprises and maturing its rapidly growing mid-market companies, targeting organizations with sophisticated financial ecosystems and high-growth trajectories [13] - The enterprise renewal rate has stabilized and improved, while mid-market churn continues to impact overall metrics [58][94] Company Strategy and Development Direction - The company is executing a transformative platform modernization strategy, with cloud migration to Google Cloud Platform over 80% complete [39] - A new industry-specific financial close solution was launched to address real-time transaction tracking for banks and retailers [41] - The company is focusing on higher-value customer cohorts, achieving 27% growth in customers generating over $1 million in ARR [57] Management's Comments on Operating Environment and Future Outlook - Management noted a measured demand environment but indicated signs of improvement, including increased partner hiring and a sold-out customer conference [70] - The company is optimistic about its strategic investments in innovation and go-to-market initiatives strengthening its competitive position [52] Other Important Information - Mark Partin, the Chief Financial Officer, will retire after 10 years of service, transitioning to an advisory role [8] - The company is raising its full-year revenue and non-GAAP operating margin guidance based on Q3 performance [63] Q&A Session Summary Question: What does the macro environment look like? - Management noted a measured demand environment with signs of improvement, including increased opportunities in the pipeline and a sold-out conference [70] Question: Can you provide details on the Fortune 100 pharmaceutical company deal? - The sales cycle took a couple of years, with a focus on industry expertise and customer references driving success [72] Question: What are the bigger opportunities for revenue growth? - The upcoming Investor Day will detail the strategy and opportunities for investment in growth, focusing on the partner ecosystem and digital transformation [76] Question: How is the strategic portfolio performing? - The strategic portfolio has been performing well, with expectations for continued growth driven by digital transformation initiatives [97] Question: Can you elaborate on the divergence between enterprise and mid-market? - The company is strategically targeting higher-end mid-market customers, leading to expected churn among smaller accounts [93]

For the quarter ended September 2024, BlackLine (BL) reported revenue of $165.91 million, up 10.1% over the same period last year. EPS came in at $0.60, compared to $0.51 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $163 million, representing a surprise of +1.79%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $0.52.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

BlackLine (BL) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.38%. A quarter ago, it was expected that this company would post earnings of $0.50 per share when it actually produced earnings of $0.58, delivering a surprise of 16%.Over the last four quarters, the company has surpass ...

Financial Performance - Total GAAP revenues for Q3 2024 reached $165.9 million, a 10% increase compared to Q3 2023[3] - GAAP net income attributable to BlackLine was $17.2 million, or $0.27 per diluted share, compared to $11.9 million, or $0.19 per diluted share in Q3 2023[4] - Non-GAAP operating margin improved to 22.7% in Q3 2024, up from 16.0% in Q3 2023[3] - Operating cash flow for Q3 2024 was $55.9 million, compared to $37.0 million in Q3 2023[5] - Free cash flow increased to $49.4 million in Q3 2024, up from $31.4 million in Q3 2023[5] - Total revenues for the quarter ended September 30, 2024, were $165,909,000, an increase of 10.3% compared to $150,708,000 in the same quarter of 2023[32] - Subscription and support revenues reached $157,011,000 for the quarter, up from $142,054,000, reflecting a growth of 10.5% year-over-year[32] - The company reported a net income of $14,569,000 for the quarter, compared to $13,472,000 in the same quarter of the previous year, representing an increase of 8.1%[33] - Basic net income per share attributable to BlackLine, Inc. was $0.28 for the quarter, up from $0.20 in the prior year[33] Customer Metrics - BlackLine had a total of 4,433 customers and 397,095 users as of September 30, 2024[6] - The dollar-based net revenue retention rate was 105% at September 30, 2024[6] - The dollar-based net revenue retention rate is a key metric for measuring long-term customer value, although specific percentage figures were not disclosed in the provided content[27] - The number of customers contributing to subscription and support revenue is a critical indicator of market penetration, but specific numbers were not provided in the content[28] Future Projections - For Q4 2024, total GAAP revenue is expected to be in the range of $167 million to $169 million[9] - Full year 2024 total GAAP revenue is projected to be between $651.0 million and $653.0 million[10] Operating Expenses and Profitability - The company incurred total operating expenses of $116,440,000 for the quarter, slightly up from $114,988,000 in the same quarter of 2023[33] - Non-GAAP gross profit for Q3 2024 was $124,803,000, up from $113,914,000 in Q3 2023, representing a 10.4% increase[36] - Non-GAAP operating income for Q3 2024 was $37,624,000, compared to $24,066,000 in Q3 2023, reflecting a 56.5% increase[36] - Total non-GAAP operating expenses for Q3 2024 were $94,112,000, down from $96,146,000 in Q3 2023, a decrease of 2.1%[37] - Non-GAAP gross margin for Q3 2024 was 79.4%, slightly down from 79.8% in Q3 2023[36] - Total non-GAAP net income attributable to BlackLine, Inc. for Q3 2024 was $44,428,000, up from $37,857,000 in Q3 2023, a 17.0% increase[37] - Diluted non-GAAP net income per share for Q3 2024 was $0.60, compared to $0.51 in Q3 2023, reflecting a 17.6% increase[37] Cash and Assets - Total current assets as of September 30, 2024, were $1,407,324,000, compared to $933,355,000 as of December 31, 2023[30] - Total liabilities decreased to $1,297,619,000 as of September 30, 2024, from $1,809,821,000 as of December 31, 2023[31] - Cash, cash equivalents, and restricted cash at the end of the period was $725,515,000, compared to $236,483,000 at the end of the previous period[35] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $147,042,000, up from $84,444,000 in the same period of 2023, indicating a 74.1% increase[37] - The company reported a net increase in cash of $108,648,000 for the current period, compared to $31,728,000 in the previous period[35] Upcoming Events - BlackLine plans to showcase new innovations at the upcoming BeyondTheBlack customer conference[2]

Wall Street analysts expect BlackLine (BL) to post quarterly earnings of $0.52 per share in its upcoming report, which indicates a year-over-year increase of 2%. Revenues are expected to be $163 million, up 8.2% from the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a company's earnings disclosure, it is cru ...