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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.
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.
BlackLine, Inc. (Nasdaq: BL) is set to host its 13th annual global user conference, BeyondTheBlack™ 2020, from November 17-19, 2020. Over 12,000 participants have registered for this complimentary 3-day virtual event focusing on digital finance transformation amid the pandemic. Notable speakers include experts from Deloitte, EY, and KPMG, along with notable customer insights from companies like Dun & Bradstreet and Kimberly-Clark. The conference aims to modernize Finance & Accounting practices, enhance data accuracy, and leverage AI-driven solutions.
Therese Tucker, CEO of BlackLine, has been recognized as a Top Woman Leader in SaaS by The Software Report, ranking No. 3 on the 2020 list. Tucker, who founded BlackLine in 2001 and led its transition to a 100% SaaS business model in 2007, was previously named the top woman leader in 2017. BlackLine now serves over 3,200 customers across 130 countries, providing cloud-based solutions that modernize accounting processes. The company is a pioneer in the cloud financial close market, earning acclaim on platforms like Gartner Peer Insights and G2.
BlackLine (Nasdaq: BL) has expanded its global customer base in Q3 2020, adding notable clients like Dolby Laboratories, Domino's Pizza UK & Ireland, and Nestlé Health Science. With over 280,000 users across 3,200 companies, BlackLine reported nearly three billion transactions imported in the quarter. The company positions itself as a leader in cloud financial close and accounting automation, promoting efficiency and compliance in financial operations. BlackLine continues to support enterprises transitioning from manual accounting processes to modern solutions.
BlackLine, Inc. (Nasdaq: BL) reported a robust third quarter for 2020, with total GAAP revenues reaching $90.5 million, a 21% increase year-over-year. The company narrowed its GAAP net loss to $8.6 million, or $0.15 per share. Non-GAAP net income surged to $15.1 million, or $0.25 per share. Operating cash flow improved significantly to $21.8 million. BlackLine acquired Rimilia, enhancing its capabilities in accounts receivable automation. Fourth-quarter guidance anticipates revenues between $91 million and $92 million.
BlackLine, Inc. (Nasdaq: BL) is set to announce its third-quarter financial results for the period ending September 30, 2020, after market close on October 29, 2020. A conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET, with a live webcast available on their investor relations website. BlackLine continues to be a leader in providing cloud-based financial solutions, helping over 3,100 customers unify data and automate accounting processes. The company is recognized in Gartner’s 2019 Magic Quadrant for Cloud Financial Close Solutions.
BlackLine, Inc. (Nasdaq: BL) has acquired Rimilia, an AI-powered accounts receivable automation platform, for $150 million. The acquisition enhances BlackLine's cash lifecycle automation capabilities, allowing for improved data integrity and work efficiency. Rimilia's solution optimizes cash flow management especially crucial in current economic conditions. The deal, funded with existing cash, involves a $120 million upfront payment and up to $30 million in earnouts based on performance. No immediate financial impact is expected on Q3 results, and further financial details will be discussed during the upcoming earnings call on October 29, 2020.
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