Here's What Key Metrics Tell Us About BlackLine (BL) Q2 Earnings

Core Insights - BlackLine (BL) reported revenue of $160.51 million for the quarter ended June 2024, marking an 11% year-over-year increase and a surprise of +1.56% over the Zacks Consensus Estimate of $158.04 million [1] - The company achieved an EPS of $0.58, a significant improvement from -$0.41 a year ago, with a surprise of +16.00% compared to the consensus EPS estimate of $0.50 [1] Revenue Breakdown - Professional services revenue was reported at $8.72 million, exceeding the average estimate of $7.77 million by six analysts, reflecting a year-over-year change of +0.3% [5] - Subscription and support revenue reached $151.79 million, surpassing the six-analyst average estimate of $150.34 million, with a year-over-year increase of +11.7% [6] User and Customer Metrics - Total users increased to 396,366, compared to the estimated 389,145 by two analysts [3] - Total customers were reported at 4,435, slightly below the estimated 4,445 by two analysts [4] Profitability Metrics - Gross profit from professional services was $2.13 million, significantly higher than the average estimate of $0.86 million by two analysts [7] - Gross profit from subscription and support was $118.03 million, which fell short of the average estimate of $121.37 million by two analysts [8] Stock Performance - Over the past month, shares of BlackLine have returned -10.3%, compared to a -6.7% change in the Zacks S&P 500 composite [8] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [8]