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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) has ranked No. 1 for Financial Close software in the Enterprise category in G2's 'Best Finance Products of 2021' list. It also achieved No. 15 on the overall list, being the only company in its category to enter the top 15, surpassing notable competitors like NetSuite and Oracle. The rankings were derived from over 241,441 customer reviews throughout 2020. This recognition highlights BlackLine's strong market presence and user satisfaction, solidifying its reputation in the financial software arena.
BlackLine, Inc. (BL) announced 2020 financial results revealing a 19% increase in Q4 revenues to $95.7 million, but a GAAP net loss of $17.0 million. For the full year, revenue rose 22% to $351.7 million, with a net loss of $46.9 million. Non-GAAP net income stood at $13.1 million for Q4 and $46.1 million for the year. The company added 207 new customers in Q4 and achieved a 106% dollar-based net revenue retention rate. Looking forward, BlackLine anticipates Q1 2021 revenue between $95.5 million and $96.5 million, and full-year revenue between $410 million and $415 million.
According to a survey by BlackLine, 70% of C-level executives and finance professionals lack confidence in their company's financial data, impacting forecasting accuracy. Conducted among 1,300 business leaders globally, the study reveals that only 29% trust the data used for analysis. The COVID-19 pandemic has increased the demand for accurate forecasts, with 42% focusing more on financial scenario planning. However, 28% express concern over F&A departments' responsiveness amid hybrid work environments. The findings highlight a significant need for digital transformation in financial operations.
BlackLine, Inc (Nasdaq: BL) has achieved recognition for its accounting automation software, winning all categories in the Best of Finance Software 2021 Awards by TrustRadius, based on customer feedback. The company excelled in Customer Support, Usability, and Feature Set. This acknowledgment highlights BlackLine's strong customer satisfaction and effective cloud platform. Over 3,200 customers rely on BlackLine for efficient financial processes, ensuring rapid and accurate financial close.
BlackLine, Inc. (Nasdaq: BL) announced it will release its financial results for Q4 and the full year ended December 31, 2020, on February 11, 2021, after market close. A conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET. Investors can access a live webcast on the company's investor relations website. BlackLine offers cloud-based solutions to automate and improve accounting processes, catering to over 3,200 clients, including large enterprises and midsize companies.
BlackLine has promoted Mark Woodhams to Chief Revenue Officer (CRO) as of January 1, 2021. Under his leadership, the company added over 1,000 new customers, marking a 50% increase, and tripled the number of clients spending over $1 million in annual recurring revenue since 2018. Woodhams will also oversee BlackLine K.K. in Japan and its partnership with SAP. His extensive experience in cloud financial services and a strategic focus on optimization has driven BlackLine's sales growth, particularly during the pandemic.
BlackLine, Inc (Nasdaq: BL) will participate in two upcoming virtual investor conferences. The Wells Fargo TMT Summit is scheduled for December 1, 2020, at 9:00 a.m. PT, followed by the Raymond James Technology Investors Conference on December 7, 2020, at 1:10 p.m. PT. Both presentations will be webcast live and archived on BlackLine's investor relations website. BlackLine provides cloud-based solutions that modernize accounting processes, helping over 3,200 customers achieve efficient financial close and better visibility in their operations.
On November 16, 2020, BlackLine (Nasdaq: BL) announced the launch of new products and updates to its cloud platform, aimed at modernizing Finance & Accounting operations. Highlights include BlackLine Cash Application for real-time cash management, BlackLine Account Analysis for mitigating risks, and an enhanced user interface to improve usability. The company also introduced an API portal for better integration and enhanced features for SAP connectivity. These innovations were presented at the BeyondTheBlack virtual conference, attended by over 15,000 registrants.
On November 12, 2020, BlackLine (Nasdaq: BL) announced the winners of its 2020 Modern Accounting Awards, recognizing organizations that enhanced Finance and Accounting processes using BlackLine's cloud platform. Winners include Zurich North America for digital finance transformation, McKesson for continuous accounting, and Big Ass Fans for modernizing accounting practices. The awards showcase customer success across various categories, emphasizing productivity and strategic initiative shifts in F&A operations. BlackLine will feature these winners at its virtual event, BeyondTheBlack 2020, from November 17-19.
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