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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, Inc. (Nasdaq: BL) reported its Q4 and full-year 2021 financial results, showing a 20% increase in Q4 GAAP revenues to $115.3 million. However, the company recorded a net loss of $37 million, compared to a loss of $17 million in Q4 2020. For the full year, GAAP revenues rose 21% to $425.7 million, with a net loss of $115.2 million. Notable highlights include adding 121 new customers, a 109% dollar-based net revenue retention rate, and strategic acquisitions, including FourQ. For Q1 2022, guidance anticipates GAAP revenue of $119-$120 million.
BlackLine (Nasdaq: BL) has expanded its partnership with Google Cloud to enhance automation solutions for finance and accounting.
The collaboration aims to accelerate digital finance transformation and modern accounting initiatives for organizations globally.
This initiative allows businesses to leverage Google Cloud's infrastructure, ensuring increased productivity for CFOs and CIOs and providing critical financial insights through advanced analytics and machine learning capabilities.
BlackLine (Nasdaq: BL) has successfully completed its acquisition of FourQ Systems, Inc. for $165 million, plus potential earnout of $75 million based on performance milestones. This acquisition enhances BlackLine's intercompany accounting solutions by introducing advanced tax compliance capabilities, thereby streamlining traditionally manual processes. The deal, which closed on January 26, 2022, positions BlackLine to better meet the growing demand for efficient financial operations amidst complex global regulations.
BlackLine has been awarded first place in two categories—'Best Relationship' and 'Best Feature Set'—by TrustRadius for its financial close automation software. This recognition is based on customer feedback and highlights BlackLine's strong performance in providing effective solutions and excellent customer service. Over 3,700 customers trust BlackLine to enhance their accounting processes. This marks the second consecutive year BlackLine has received accolades from TrustRadius, reinforcing its position as a leader in the cloud financial close market.
BlackLine, Inc. (Nasdaq: BL) announced it will report its financial results for Q4 and the full year ended December 31, 2021, after market close on February 10, 2022. This will be followed by a conference call at 2:00 p.m. PT / 5:00 p.m. ET, accessible via a live webcast on BlackLine's investor relations website. BlackLine's cloud-based solutions streamline accounting processes for over 3,700 customers, marking its leadership in the cloud financial close market.
BlackLine has achieved ISO/IEC 27018:2019 and ISO/IEC 27701:2019 certifications, highlighting its commitment to data security and privacy in cloud services. This accomplishment underscores the company's adherence to advanced international standards for information security management. BlackLine's platforms for financial close and accounts receivable automation are now recognized for their effective data management policies. With over 3,700 customers, BlackLine continues to lead in providing secure cloud-based financial solutions amidst an evolving digital landscape.
BlackLine (Nasdaq: BL) announced its participation in the Raymond James 2021 Technology Investors Conference on December 6, 2021, at 7:30 a.m. PT. The event will be webcast live and archived on BlackLine's investor relations website. BlackLine provides cloud-based solutions aimed at modernizing accounting by automating repetitive tasks and enhancing financial processes. Trusted by over 3,700 customers, the company is recognized as a leader in the financial close market, with offices in major cities worldwide.
BlackLine, Inc. (Nasdaq: BL) expands its partnership with Microsoft by joining the Business Application ISV Connect Program. This collaboration aims to enhance finance and accounting automation for Microsoft Dynamics 365 customers. BlackLine's unified platform will support financial controls and automation, facilitating joint selling alongside Microsoft’s teams. The integration of BlackLine with Dynamics 365 is expected to boost market traction as businesses transition to the cloud. The announcement was made during BlackLine's annual user conference, BeyondTheBlack, attended by over 17,000 participants.
BlackLine, Inc. (Nasdaq: BL) has released findings from a global survey indicating that only 14% of CFOs feel confident in their finance function's skills to support growth over the next five years. Conducted by Censuswide, the survey highlighted that 35% of C-suite executives believe Finance and Accounting is lagging in digital transformation. The survey, involving 1,150 global leaders, emphasizes a critical skills gap affecting finance teams, with 31% of CFOs noting insufficient technology experience within their departments. Future growth will depend on bridging these skill deficiencies.
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