Blackline Inc - BL STOCK NEWS

BlackLine, Inc. (Nasdaq: BL) has expanded its global partner program to capitalize on a $28 billion market opportunity in financial close and accounts receivable automation. This initiative aims to enhance customer success and scale business operations. The program includes partnerships with major firms like SAP, Deloitte, and KPMG to boost digital transformation in finance. A dedicated Field Alliances team will support partners in maximizing go-to-market capabilities. BlackLine currently serves nearly 300,000 users across 3,500 companies, emphasizing its leadership in the cloud financial close market.

BlackLine (Nasdaq: BL) announced its participation in several virtual investor conferences. These include the William Blair Growth Stock Conference on June 2, the BofA Securities Global Technology Conference on June 9, and the Baird Global Consumer, Technology & Services Conference on June 10. Each presentation will be webcast live and archived on BlackLine's investor relations website. BlackLine offers cloud-based solutions that modernize accounting processes for businesses, enhancing efficiency and control.

BlackLine (Nasdaq: BL) has been awarded the 2021 SAP Pinnacle Partner of the Year Award in the Solution Extensions category, recognizing its contributions as one of only 21 winners from over 20,000 SAP partners globally. This accolade reflects BlackLine's robust partnership with SAP and its innovative cloud-based solutions that enhance SAP technologies. BlackLine's offerings, such as SAP Account Substantiation and Automation, bring automation, control, and data integrity to finance departments, aiding businesses in their digital transformation journeys.

BlackLine has achieved ISO/IEC 27017:2015 certification, confirming compliance with cloud security standards. This certification enhances its commitment to data security and privacy across its cloud services. The assessment was conducted by the British Standards Institute, recognizing BlackLine's robust policies in information security management. CEO Marc Huffman emphasized the importance of secure cloud services, especially during the pandemic, while Chief Security Officer Max Solonski highlighted the priority of client confidentiality. This achievement positions BlackLine among a select group of organizations surpassing ISO 27001 requirements.

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.