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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 (BL) has announced its 2024 Modern Accounting Award winners, recognizing organizations that have transformed their finance and accounting practices using BlackLine's solutions. The winners include ExxonMobil for rapid implementation, Gonzaga University for innovative solution adoption, Sound Community Bank for financial close excellence, Red Wing Shoes for comprehensive process improvements, Treasury Wine Estates for APAC region leadership, Ambridge Hospitality for automation achievements saving 25,000 annual labor hours, and Delaware North for finance transformation success.
Winners will be honored at BlackLine's annual BeyondTheBlack™ conference in Orlando, Florida, from November 18-20, 2024.
BlackLine (Nasdaq: BL) announced the planned retirement of CFO Mark Partin, effective March 1, 2025, after nearly 10 years of service. Patrick Villanova, currently Chief Accounting Officer, will succeed as CFO. Villanova, who joined BlackLine in 2015, brings over 25 years of experience and played a key role in the company's 2016 IPO. As CAO since 2019, he managed two convertible note offerings and three acquisitions. Before BlackLine, he spent 16 years at PricewaterhouseCoopers developing expertise in financial planning, analysis, and corporate development.
BlackLine (Nasdaq: BL) announced its Q3 2024 financial results, reporting GAAP revenues of $165.9 million, a 10% increase YoY. The GAAP operating margin was 5.0%, up from (0.7)% in Q3 2023, while the non-GAAP operating margin rose to 22.7% from 16.0%. GAAP net income was $17.2 million, or $0.27 per diluted share, compared to $11.9 million, or $0.19 per share, in the same period last year. Non-GAAP net income reached $44.4 million, or $0.60 per diluted share, up from $37.9 million, or $0.51 per share. Free cash flow hit a record $49.4 million, compared to $31.4 million in Q3 2023.
Key metrics: 4,433 customers and 397,095 users as of September 30, 2024, with a dollar-based net revenue retention rate of 105%. BlackLine also received several industry awards and expanded its Board of Directors.
For Q4 2024, GAAP revenue is expected to range between $167 million and $169 million, with a non-GAAP operating margin of 18.0% to 19.0%. For the full year, GAAP revenue is forecasted to be $651 million to $653 million, with a non-GAAP operating margin of 19.4% to 19.6%.
BlackLine (Nasdaq: BL) has received multiple industry accolades in 2024, including the 'Tech Cares' and 'Buyer's Choice' awards from TrustRadius for the fifth consecutive year. The company was recognized among 100 B2B technology companies for its commitment to sustainability, DEI, community impact, and employee well-being. BlackLine also secured the Best Accounting & Finance Software award from G2 for the fifth consecutive year, highlighting its leadership in Financial Close Management solutions. These recognitions underscore the company's success in delivering customer-centric innovation and future-ready financial operations for the Office of the CFO.
BlackLine (Nasdaq: BL) has scheduled its third quarter 2024 financial results release for Thursday, November 7, 2024, after market close. The company will host a conference call with management at 2:00 p.m. PT / 5:00 p.m. ET on the same day. Investors can access the live webcast and replay through BlackLine's investor relations website. Pre-registration is required for phone participation, and participants are advised to dial in fifteen minutes before the scheduled start time.
Fusion Risk Management, a leading provider of operational resilience and business continuity software, has appointed Lisa Schreiber as Chief Customer Officer. Schreiber, a veteran technology and professional services executive, joins Fusion's Executive Leadership Team to lead customer success, professional services, and support organizations.
With over 25 years of experience in technology, professional services, and risk management, Schreiber previously served as Chief Customer Officer at BlackLine (Nasdaq: BL) and held executive roles at Forcepoint, Oracle Corp. (NYSE: ORCL), GoldenGate Software, and Charles Schwab Inc.
CEO Michael Campbell emphasized Fusion's commitment to customer service and expressed enthusiasm for Schreiber's addition to the team. Schreiber aims to focus on anticipating customer needs, ensuring they maximize their investment in Fusion's software, and delivering value to their organizations.
BlackLine, a platform for the Office of the CFO, has been named a Leader in IDC MarketScape: Worldwide Office of the CFO Record to Report 2024 Vendor Assessment. The report evaluated nine vendors based on their capabilities to support the record-to-report (R2R) process, which is important for accurate financial reporting and compliance.
The IDC MarketScape highlighted BlackLine's robust technical capabilities, including real-time data integration, automated workflow management, and advanced analytics. The platform supports key accounting functions such as account reconciliations, journal entry management, and intercompany transactions.
BlackLine's customer-centric innovation and comprehensive offering for managing intercompany transactions were also noted. The report suggests considering BlackLine for complex businesses seeking a robust, comprehensive, and compliant R2R solution.
BlackLine (NASDAQ: BL) has announced the appointment of David Henshall to its Board of Directors. Henshall brings extensive experience in enterprise software and financial expertise, having spent nearly 20 years in executive roles at Citrix, including as President and CEO. His appointment is expected to support BlackLine's strategic initiatives and long-term growth.
Owen Ryan, Co-CEO and Chairman of BlackLine, highlighted Henshall's unique executive experience in the enterprise software space, while Co-CEO and Founder Therese Tucker expressed enthusiasm for collaborating with Henshall to execute the company's strategic initiatives. Henshall himself stated he is honored to join BlackLine's board, recognizing the company's unique market position and comprehensive platform for the office of the CFO.
BlackLine (NASDAQ: BL), a platform for the Office of the CFO, has been named an Exemplary Vendor and Overall Leader in Financial Close in Ventana Research's 2024 Financial Close Buyer's Guide. The recognition highlights BlackLine's commitment to delivering future-ready financial operations that are accurate, efficient, and intelligent.
Ventana's evaluation, based on extensive market and product research, ranked BlackLine as a leader in seven out of ten categories. The company's strengths were noted in Product Experience, particularly for manageability, administration, privacy, and security, and in Customer Experience, notably for total cost of ownership (TCO) and return on investment (ROI).
BlackLine (Nasdaq: BL) has announced its participation in the upcoming Piper Sandler Growth Frontiers Conference. The event is scheduled for Wednesday, September 11, 2024, in Nashville, TN. BlackLine's management team will deliver a presentation at 1:00 PM CT.
Investors and interested parties can access the webcast of the presentation through BlackLine's investor relations website at https://investors.blackline.com. This conference provides an opportunity for BlackLine to showcase its growth strategies and connect with potential investors.
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