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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 strong financial results for Q3 2021, with total GAAP revenues of $109.4 million, marking a 21% increase year-over-year. However, the company experienced a GAAP net loss of $13.7 million or $0.23 per share. Non-GAAP net income was $15.1 million, slightly up from $15.0 million in Q3 2020. Operating cash flow stood at $17.1 million, while free cash flow fell to $9.8 million. The company added 106 net new customers, bringing the total to 3,704. For Q4 2021, revenue is projected between $113.0 million and $114.0 million.
BlackLine, Inc. (Nasdaq: BL) has launched its next-generation accounts receivable (AR) automation suite, the first unified platform for cash flow optimization. This innovative solution utilizes AI to enhance cash collection and financial operations, targeting a $10 billion+ market for AR automation. In 2021, over $170 billion in payments were processed through BlackLine’s solutions. Company executives emphasize the importance of investing in automation for greater business resilience, especially post-pandemic. Clients report significant improvements in cash application speed and efficiency, with time reductions of over 50%.
On October 26, 2021, BlackLine (Nasdaq: BL) announced the winners of its 2021 Modern Accounting Awards, recognizing organizations that have successfully adopted modern accounting practices. Award recipients include Dentsu International for data unification, FWD Insurance for automating processes, and Flowers Bakeries for enhancing month-end closings. The awards highlight the transformative impact of BlackLine's cloud solutions on financial processes. Winners will be celebrated at the BeyondTheBlack 2021 conference, showcasing their advancements in finance and accounting automation.
BlackLine is set to host its 14th annual user conference, BeyondTheBlack 2021, from Nov. 16 to 18, expecting over 15,000 registrants. This virtual event will showcase best practices in digital finance transformation from more than 20 customers, including Chobani and Heineken, and feature over 100 speakers across 80 sessions. Highlights include discussions on AI in accounting and the presentation of the 2021 Modern Accounting Awards, with up to 22 CPE credits available. BlackLine's solutions aim to modernize financial processes, helping companies achieve faster and accurate results.
BlackLine, Inc. (Nasdaq: BL) will announce its third quarter financial results for the period ending September 30, 2021, on November 4, 2021, following the market close. Management will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. The call will be accessible via BlackLine's investor relations website, with a replay available until November 11, 2021. BlackLine specializes in cloud-based accounting solutions, serving nearly 3,600 customers globally.
Andres Botero, the chief marketing officer of BlackLine (Nasdaq: BL), will present at the SaaStr Annual 2021, the largest SaaS event globally, from Sept. 27-29 in San Mateo, CA.
His talk, titled 'The How and Why of Category Creation and Leadership', focuses on strategies for engaging industry analysts to establish software categories and market leadership. This comes after BlackLine was named a Top 100 Software Company for 2021 by The Software Report, securing the 20th position alongside major players like Microsoft and Salesforce.
BlackLine (Nasdaq: BL) has achieved a significant milestone by surpassing 1,000 customers utilizing its accounting automation software with Oracle ERPs. Currently, 15 of the Fortune 25 companies implement BlackLine for automating key financial processes. BlackLine's solutions enhance visibility and control throughout the financial close process, which is crucial for digital finance transformation. The company is recognized for its innovative cloud-based offerings and strong customer service, positioning it as a leader in the accounting automation market.
BlackLine (Nasdaq: BL) has announced its participation in the Piper Sandler Global Technology Conference, scheduled for September 13, 2021. The management team will provide insights into the company's cloud-based solutions that modernize accounting processes. Interested investors can access the presentation through BlackLine's investor relations website. With nearly 3,600 customers, BlackLine is recognized as a leader in cloud financial close solutions, enhancing efficiency, visibility, and accountability in accounting.
BlackLine, Inc. (Nasdaq: BL) reported its Q2 2021 financial results, showing strong revenue growth of 23% year-over-year with total GAAP revenues of $102.1 million. However, the company faced a GAAP net loss of $25.4 million or $0.44 per share, deeper than the $8.3 million net loss in Q2 2020. Non-GAAP net income fell to $9.6 million, compared to $11.9 million last year. The company added 116 new customers, bringing the total to 3,598. Looking ahead, BlackLine expects Q3 GAAP revenues between $106.5 million to $107.5 million.
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