BlackLine, Inc. - BL STOCK NEWS

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%.

BlackLine (Nasdaq: BL) has received multiple industry accolades in 2024, including the 'Tech Cares' and 'Buyer's Choice' awards from TrustRadius for the fifth consecutive year. The company was recognized among 100 B2B technology companies for its commitment to sustainability, DEI, community impact, and employee well-being. BlackLine also secured the Best Accounting & Finance Software award from G2 for the fifth consecutive year, highlighting its leadership in Financial Close Management solutions. These recognitions underscore the company's success in delivering customer-centric innovation and future-ready financial operations for the Office of the CFO.

BlackLine (Nasdaq: BL) has scheduled its third quarter 2024 financial results release for Thursday, November 7, 2024, after market close. The company will host a conference call with management at 2:00 p.m. PT / 5:00 p.m. ET on the same day. Investors can access the live webcast and replay through BlackLine's investor relations website. Pre-registration is required for phone participation, and participants are advised to dial in fifteen minutes before the scheduled start time.