BlackLine(BL) - 2025 Q3 - Quarterly Results

Financial Performance - Total GAAP revenues for Q3 2025 were $178.3 million, a 7.5% increase compared to Q3 2024[6] - GAAP net income attributable to BlackLine was $5.3 million, or $0.09 per diluted share, down from $17.2 million, or $0.27 per diluted share in Q3 2024[6] - Non-GAAP net income attributable to BlackLine was $37.6 million, or $0.51 per diluted share, compared to $44.4 million, or $0.60 per diluted share in Q3 2024[6] - Net income for Q3 2025 was $8.61 million, compared to $14.57 million in Q3 2024, showing a decrease of 41%[32] - Basic net income per share attributable to BlackLine, Inc. for Q3 2025 was $0.09, down from $0.28 in Q3 2024[32] - Net income attributable to BlackLine, Inc. for Q3 2025 was $5,285, compared to $17,238 in Q3 2024, reflecting a decrease of 69%[35] Revenue and Growth Metrics - Billings reached $161.6 million, a 4.4% increase compared to Q3 2024, impacted by a higher mix of customers on quarterly billings[6] - Remaining performance obligation was $964.1 million, reflecting a 12.4% increase compared to Q3 2024[6] - Subscription and support revenue for Q3 2025 was $168.21 million, up from $157.01 million in Q3 2024, reflecting a growth of 7.7%[31] - The company achieved a dollar-based net revenue retention rate of 103% as of September 30, 2025[6] - Total revenues for Q3 2025 reached $178.29 million, an increase of 7% compared to $165.91 million in Q3 2024[31] Cash Flow and Assets - Operating cash flow was $63.8 million, up from $55.9 million in Q3 2024[6] - Free cash flow increased to $57.0 million, compared to $49.4 million in Q3 2024[6] - Total current assets decreased to $983.82 million as of September 30, 2025, from $1.09 billion at the end of 2024[28] - Cash and cash equivalents decreased to $419.90 million as of September 30, 2025, from $885.92 million at the end of 2024[28] - Total cash provided by operating activities for the nine months ended September 30, 2025, was $142,887, compared to $147,042 for the same period in 2024, a decrease of 2.3%[35] - Cash, cash equivalents, and restricted cash at the end of Q3 2025 totaled $419,900, down from $725,515 at the end of Q3 2024, a decline of 42.2%[36] Expenses and Liabilities - Operating expenses for Q3 2025 totaled $126.29 million, an increase from $116.44 million in Q3 2024[31] - Total liabilities as of September 30, 2025, were $1.34 billion, slightly down from $1.34 billion at the end of 2024[29] - Stock-based compensation for the nine months ended September 30, 2025, was $66,625, compared to $63,911 for the same period in 2024, an increase of 4.0%[35] - General and administrative expense was $85,684 million, down from $89,315 million, indicating a decrease of 4.0%[40] Operational Metrics - BlackLine had 4,424 customers and 385,336 users as of September 30, 2025, indicating continued customer migrations to the platform pricing model[6] - The number of customers as of September 30, 2025, is a critical indicator of market penetration and business growth[25] Non-GAAP Metrics - Non-GAAP gross profit for Q3 2025 was $141,526, up from $131,736 in Q3 2024, representing an increase of 7.0%[38] - Non-GAAP gross margin for Q3 2025 was 79.4%, consistent with Q3 2024[38] - Total non-GAAP operating income increased to $111,095 million, up from $96,155 million year-over-year, reflecting a growth of 15.5%[39] - Non-GAAP operating margin was 21.5%, compared to 19.9% in the previous year, indicating an improvement of 1.6 percentage points[39] - Basic non-GAAP net income per share attributable to BlackLine, Inc. was $1.80, down from $2.06, a decrease of 12.6%[39] Future Guidance - Full year 2025 guidance includes total GAAP revenue expected in the range of $699 million to $701 million[12]