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BlackLine, Inc. (Nasdaq: BL) is the premier provider of enhanced financial controls and automation (EFCA) software, dedicated to modernizing the financial close process for businesses worldwide. With its unified cloud platform, BlackLine offers a wide range of solutions that streamline financial operations, ensuring balance sheet integrity and enhancing the accuracy and efficiency of accounting functions.
Recognized as a leader in EFCA and Financial Corporate Performance Management (FCPM) by Gartner, BlackLine serves over 4,400 customers globally, delivering innovative solutions that automate repetitive tasks, unify data, and provide real-time control and transparency. The company's Software as a Service (SaaS) offerings include account reconciliations, variance analysis, journal entry capabilities, and data matching, enabling customers to transition to a continuous accounting model.
Recent achievements include the introduction of the Journals Risk Analyser, an AI-powered tool that provides insights and anomaly detection for journal entries, enhancing compliance and audit efficiency. Additionally, BlackLine's Financial Reporting Analytics solution is now available as an SAP Solution Extension, further solidifying its partnerships and expanding its reach.
BlackLine continues to build on its commitment to digital finance transformation with the appointment of Sumit Johar as Chief Information Officer, bringing over two decades of enterprise cloud and automation experience to the leadership team.
Headquartered in Los Angeles, BlackLine operates in major business centers including New York, London, Paris, Frankfurt, Tokyo, and Sydney, with a mission to lead the market in modern finance solutions and drive innovation for the Office of the CFO.
BlackLine (NASDAQ: BL) has been named a Leader in the 2024 IDC MarketScape for Worldwide Accounts Receivable Automation Applications for the Enterprise. The recognition highlights BlackLine's comprehensive platform and customer-centric innovation in automating Accounts Receivable processes.
The IDC MarketScape report emphasizes BlackLine's unified and scalable platform, which offers seamlessly integrated invoice-to-cash modules, enabling real-time data sharing and enhanced collaboration. The platform's capabilities include process acceleration, elimination of duplicate work, and removal of silos between teams.
According to Kevin Permenter, IDC's senior research director, BlackLine demonstrates a deep understanding of CFO office challenges and shows commitment to innovation. The report recommends BlackLine for organizations seeking a unified platform supporting end-to-end AR processes with simple configurability and self-serviced functionality.
BlackLine (Nasdaq: BL) has announced its participation in the upcoming Wells Fargo 8th Annual TMT Summit. The company's management team will deliver a presentation on Tuesday, December 3, 2024, at 10:15 AM PT in Los Angeles, California. Interested parties can access the webcast through BlackLine's investor relations website at investors.blackline.com.
BlackLine (Nasdaq: BL) has launched Studio360 Platform, a comprehensive financial operations solution for the Office of the CFO. The platform consists of five key components: Integrate, Orchestrate, Visualize, Blueprint, and Control, designed to unify financial operations at scale and deliver real-time insights. Through a strategic partnership with Snowflake, Studio360 offers enhanced data capabilities, including improved scalability, security, and speed. The ERP-agnostic platform features AI-powered insights, process automation, and comprehensive data management tools to streamline financial operations and enable informed decision-making.
BlackLine (Nasdaq: BL) has been awarded the Most Innovative FinTech Solution at the 2024 Tech Ascension Awards, recognizing its excellence in delivering cutting-edge solutions for Finance and Accounting teams. The company's commitment to digital finance transformation was highlighted through innovations like the Journals Risk Analyser, launched in early 2024, which leverages generative AI for detecting anomalies in journal entries.
The recognition comes as BlackLine prepares for its annual North American user conference, BeyondTheBlack, in Orlando, FL. The award validates BlackLine's strategic focus on developing flexible, scalable solutions that enable CFOs to adapt to changing business landscapes while maintaining efficient financial operations.
BlackLine (Nasdaq: BL) has appointed Philippe Omer Decugis as Senior Vice President and General Manager for Europe. With over 20 years of experience in technology and financial services, including positions at Salesforce and SAP, Philippe will lead BlackLine's European operations. His role will focus on accelerating growth, fostering innovation, and enhancing customer success throughout the region. The appointment aligns with BlackLine's global expansion strategy, where Philippe will oversee strategic initiatives, strengthen partner relationships, and drive the adoption of BlackLine's solutions in Europe.
BlackLine (Nasdaq: BL) has announced it will host its Investor Day on November 19th, 2024, in Orlando, FL at 1:00pm ET. The event will include presentations from senior executives covering company strategy, innovation, and financial updates. The event will be accessible via live webcast and replay through BlackLine's investor relations website.
BlackLine (Nasdaq: BL) has announced its 2024 Modern Accounting Award winners, recognizing organizations that have transformed their finance and accounting practices. The winners include ExxonMobil (The Accelerator), Gonzaga University (The Achiever), Sound Community Bank (The Closer), Red Wing Shoes (The Modernizer), Treasury Wine Estates (The Pioneer), Aimbridge Hospitality (The Transformer), and Delaware North (The Unifier).
Notable achievements include Aimbridge Hospitality's automation of 25,000 monthly journals saving over 25,000 annual labor hours, and Sound Community Bank's successful implementation of BlackLine's Matching solution. Winners will be honored at the BeyondTheBlack™ conference in Orlando, Florida, from November 18-20, 2024.
BlackLine (BL) has announced its 2024 Modern Accounting Award winners, recognizing organizations that have transformed their finance and accounting practices using BlackLine's solutions. The winners include ExxonMobil for rapid implementation, Gonzaga University for innovative solution adoption, Sound Community Bank for financial close excellence, Red Wing Shoes for comprehensive process improvements, Treasury Wine Estates for APAC region leadership, Ambridge Hospitality for automation achievements saving 25,000 annual labor hours, and Delaware North for finance transformation success.
Winners will be honored at BlackLine's annual BeyondTheBlack™ conference in Orlando, Florida, from November 18-20, 2024.
BlackLine (Nasdaq: BL) announced the planned retirement of CFO Mark Partin, effective March 1, 2025, after nearly 10 years of service. Patrick Villanova, currently Chief Accounting Officer, will succeed as CFO. Villanova, who joined BlackLine in 2015, brings over 25 years of experience and played a key role in the company's 2016 IPO. As CAO since 2019, he managed two convertible note offerings and three acquisitions. Before BlackLine, he spent 16 years at PricewaterhouseCoopers developing expertise in financial planning, analysis, and corporate development.
BlackLine (Nasdaq: BL) announced its Q3 2024 financial results, reporting GAAP revenues of $165.9 million, a 10% increase YoY. The GAAP operating margin was 5.0%, up from (0.7)% in Q3 2023, while the non-GAAP operating margin rose to 22.7% from 16.0%. GAAP net income was $17.2 million, or $0.27 per diluted share, compared to $11.9 million, or $0.19 per share, in the same period last year. Non-GAAP net income reached $44.4 million, or $0.60 per diluted share, up from $37.9 million, or $0.51 per share. Free cash flow hit a record $49.4 million, compared to $31.4 million in Q3 2023.
Key metrics: 4,433 customers and 397,095 users as of September 30, 2024, with a dollar-based net revenue retention rate of 105%. BlackLine also received several industry awards and expanded its Board of Directors.
For Q4 2024, GAAP revenue is expected to range between $167 million and $169 million, with a non-GAAP operating margin of 18.0% to 19.0%. For the full year, GAAP revenue is forecasted to be $651 million to $653 million, with a non-GAAP operating margin of 19.4% to 19.6%.
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