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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 Q1 2021 results with total GAAP revenues reaching $98.9 million, a 20% increase year-over-year. Despite a GAAP net loss of $39.0 million, the non-GAAP net income was $7.1 million, up from $6.0 million in Q1 2020. Operating cash flow surged to $28.5 million, compared to $8.5 million last year. The company added 49 new customers, totaling 3,482 customers, and achieved a retention rate of 106%. BlackLine expects Q2 GAAP revenue between $100.5 million and $101.5 million.
BlackLine, Inc. (Nasdaq: BL) will release its Q1 2021 financial results on May 6, 2021, after market close. A conference call will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Investors can access the live webcast via BlackLine's investor relations website. The company highlights that its cloud-based solutions assist over 3,400 customers in modernizing accounting processes, thus improving efficiency and accuracy. BlackLine is recognized as a leader in the financial close market by various review platforms.
BlackLine, Inc (Nasdaq: BL) has launched BlackLine AR Intelligence, a cutting-edge accounts receivable solution aimed at enhancing financial operations. This solution enables businesses to optimize working capital by improving payment predictability and collections forecasting through real-time data analytics. Key features include customer behavior insights, payment forecasting, and bank utilization analysis. With over $187 billion of payments processed in 2020, this innovation aims to minimize financial risks and improve strategic decision-making across various organizational departments.
BlackLine, Inc. (Nasdaq: BL) has priced $1 billion in 0.00% convertible senior notes due 2026 in a private placement. The notes, which are senior unsecured obligations, have an initial conversion rate of 6.0156 shares per $1,000 principal amount, reflecting a premium of 42.5% over the recent stock price. The offering is expected to close on March 15, 2021. BlackLine aims to use approximately $432.2 million of the proceeds to repurchase existing convertible notes and the rest for general corporate purposes. The transaction includes capped call transactions to mitigate potential stock dilution.
BlackLine, Inc. (Nasdaq: BL) announced a private placement of $1 billion in convertible senior notes due 2026, with an option for purchasers to buy an additional $150 million. The notes will be senior unsecured obligations, accruing interest semiannually and convertible into cash, shares, or a mix. Proceeds will fund capped call transactions, repurchase of $250 million of existing notes, and general corporate purposes. The offering is not registered under the Securities Act and is not an offer to sell securities.
BlackLine (Nasdaq: BL) has appointed Lisa Schreiber as the new chief customer officer, overseeing key customer-facing teams to enhance service and retention. With over 20 years in enterprise software, including roles at Forcepoint and Oracle, Schreiber aims to leverage her experience to improve customer success. CEO Marc Huffman highlighted BlackLine's commitment to customer satisfaction, indicated by high retention rates and positive feedback from users on platforms like Gartner Peer Insights. Schreiber succeeds Karen Flathers, who previously advanced the customer success organization.
BlackLine, Inc. (Nasdaq: BL) announced a virtual Investor Day scheduled for March 9, 2021, starting at 9:00 AM PT/12:00 PM ET. Interested participants are encouraged to register in advance for the event, which will be live-streamed and available for replay on the company’s investor relations website for 12 months. BlackLine specializes in modern accounting, offering cloud-based solutions that streamline financial processes for over 3,400 clients, thereby enhancing speed and accuracy in financial closing and reporting.
Marc Huffman, CEO of BlackLine (Nasdaq: BL), will speak at SaaStock Remote on February 22, 2021. He will discuss leadership during disruptive times, focusing on customer and employee care. Since joining BlackLine in 2018 and becoming CEO on January 1, 2021, Huffman has navigated the challenges posed by remote work and the pandemic. He brings experience from his previous role at NetSuite, where he contributed to its growth from $3 million to $1 billion in revenue. BlackLine provides cloud-based solutions for modern accounting across various industries.
BlackLine (Nasdaq: BL) announced participation in two upcoming virtual investor conferences. The JMP Securities Technology Conference is scheduled for March 1, 2021, at 7:30 a.m. PT, while the Morgan Stanley Technology, Media and Telecom Conference will take place on March 3, 2021, at 12:30 p.m. PT. Both presentations will be accessible via live webcast on BlackLine's investor relations website. With over 3,400 customers, BlackLine is recognized for its cloud-based solutions that streamline accounting processes.
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