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BL

BlackLine, Inc.

BL

BlackLine, Inc. • NASDAQ
$56.99 ▼ -0.63% (-0.36)
Market Cap $3.54 B
52w High $66.25
52w Low $40.82
Dividend Yield 0%
P/E 51.81
Volume 208.60K
Outstanding Shares 62.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $178.29M ▲ $126.292M ▲ $5.285M ▼ 2.964% ▼ $0.09 ▼ $27.459M ▼
Q2-2025 $172.025M ▲ $121.858M ▼ $8.292M ▲ 4.82% ▲ $0.13 ▲ $27.575M ▲
Q1-2025 $166.931M ▼ $122.432M ▲ $6.055M ▼ 3.627% ▼ $0.096 ▼ $23.965M ▼
Q4-2024 $169.46M ▲ $121.829M ▲ $56.417M ▲ 33.292% ▲ $0.9 ▲ $27.736M ▼
Q3-2024 $165.909M $116.44M $17.238M 10.39% $0.32 $32.272M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $804.179M ▼ $1.704B ▼ $1.337B ▼ $328.3M ▼
Q2-2025 $857.418M ▼ $1.793B ▲ $1.344B ▲ $414.047M ▼
Q1-2025 $866.481M ▼ $1.781B ▼ $1.327B ▼ $417.903M ▼
Q4-2024 $885.915M ▲ $1.825B ▲ $1.342B ▲ $446.669M ▲
Q3-2024 $846.283M $1.695B $1.298B $367.911M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.285M ▼ $63.8M ▲ $10.533M ▲ $-113.688M ▼ $-39.241M ▼ $63.266M ▲
Q2-2025 $7.391M ▲ $32.345M ▼ $-14.977M ▲ $-37.913M ▲ $-20.395M ▲ $31.379M ▼
Q1-2025 $5.274M ▼ $46.742M ▲ $-399.041M ▼ $-54.311M ▼ $-406.37M ▼ $32.624M ▼
Q4-2024 $63.467M ▲ $43.794M ▼ $114.02M ▼ $3.221M ▲ $160.632M ▲ $43.038M ▼
Q3-2024 $17.238M $55.919M $303.989M $-251.737M $108.637M $55.525M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Subscription and Circulation
Subscription and Circulation
 $160.00M ▲$160.00M ▲$160.00M ▲$170.00M ▲
Technology Service
Technology Service
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement BlackLine’s revenue has grown steadily over the past five years, and importantly, that growth is now showing up in profits instead of just higher costs. Gross margins remain high, which is typical for quality software businesses, and operating results have shifted from losses a few years ago to modest but improving operating income today. Net income has moved from meaningful losses to solid profitability, with earnings per share rising sharply in the most recent years. This suggests the company is gaining scale benefits and managing expenses more tightly, though profitability is still relatively new and needs to prove durable through different business conditions.

Balance Sheet

Balance Sheet The balance sheet has strengthened compared with a few years ago. Cash levels are now much higher, and debt has come down from its prior peak, which reduces financial risk and gives more strategic flexibility. Shareholders’ equity has been rebuilt after a period of pressure, reflecting accumulated profits and a healthier capital structure. Total assets have stepped up over time and then eased slightly more recently, which looks more like portfolio optimization than stress. Overall, the company appears to be moving from a more leveraged position toward a more balanced and resilient one.

Cash Flow

Cash Flow BlackLine’s cash generation profile is a key strength. Operating cash flow has been consistently positive and has improved over time, while free cash flow has followed the same upward path. Investment needs in physical assets are low, which fits an asset-light software model and allows a large share of cash from operations to fall through to free cash flow. This gives the company room to invest in product development, sales, and potential strategic initiatives without depending heavily on external financing, as long as current trends continue.

Competitive Edge

Competitive Edge BlackLine holds a focused and defensible niche as a specialist in financial close and accounting automation, rather than trying to be a full enterprise resource planning system. Its unified, cloud-based platform, deep integration with major ERP systems, and strong ties to finance departments create meaningful switching costs and customer stickiness. High retention, a strong brand among controllers and CFOs, and an expanding partner ecosystem—especially the close relationship with SAP—support its position. The main competitive risks come from large ERP vendors enhancing their own functionality and from other automation platforms encroaching on the same workflows, which makes continued differentiation and tight integrations critical.

Innovation and R&D

Innovation and R&D The company’s strategy leans heavily on innovation, especially in automation and artificial intelligence. BlackLine is layering AI and machine learning across its platform—through tools like its journals risk analysis and the broader “Verity” AI framework—to detect anomalies, reduce manual work, and strengthen auditability. The Studio360 initiative aims to unify data and workflows further, which can deepen customer reliance on the platform. Ongoing R&D and product development should help maintain its edge, but this also requires sustained investment and strong execution to turn new capabilities into real customer adoption and revenue, especially as AI becomes table stakes in enterprise software.

Summary

BlackLine has transitioned from a growing but loss-making software company into one that combines steady top-line growth with emerging, now solid, profitability and improving cash flows. The balance sheet is healthier, with more cash and less debt, and the business throws off increasing free cash flow, which supports continued investment. Competitively, it benefits from specialization, integration with major ERP systems, and a sticky, mission-critical role in the finance function. Its innovation agenda—particularly around AI, automation, and unified financial operations—positions it well, but also raises execution demands as larger players and new entrants intensify competition. Overall, the story is one of a maturing software platform leveraging scale and innovation to strengthen its financial profile, with the usual ongoing risks around competition, technology shifts, and the need to sustain growth efficiency.

NEWS

November 25, 2025 · 8:30 AM UTC

BlackLine Issues Statement Regarding Shareholder Engagement

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November 24, 2025 · 8:00 AM UTC

Engaged Capital Sends 220 Demand Letter to BlackLine, Inc.

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November 6, 2025 · 4:05 PM UTC

BlackLine Announces Third Quarter Financial Results

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October 30, 2025 · 8:15 AM UTC

Engaged Capital Calls on BlackLine, Inc. to Announce Exploration of Strategic Alternatives

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October 23, 2025 · 4:15 PM UTC

BlackLine Announces Date for Third Quarter 2025 Earnings Release and Conference Call

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