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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 (Nasdaq: BL) has announced its participation in two upcoming investor conferences this June. The management team will present at the Baird 2024 Global Consumer, Technology & Services Conference on June 4, 2024, at 8:30am ET in New York, NY. The following day, June 5, 2024, BlackLine will also present at the William Blair 44th Annual Growth Stock Conference at 11:20am CT in Chicago, IL. Live webcasts of these presentations will be available on BlackLine’s investor relations website.
BlackLine announced an upsized and priced offering of $600 million in 1.00% convertible senior notes due 2029, up from $500 million. The notes are convertible into cash or BlackLine common stock and will be privately placed to qualified buyers. The proceeds, expected to be $588.3 million, will be used to repurchase $919.8 million of 2026 notes and for capped call transactions to reduce stock dilution. The notes bear a 1.00% interest rate, payable semi-annually, and mature in 2029. The conversion price is set at $68.47 per share, a 30% premium over the last share price. The sale closes on May 24, 2024.
BlackLine (Nasdaq: BL) announced a proposed private offering of $500 million in convertible senior notes due 2029 to qualified institutional buyers. The company will also grant purchasers a 13-day option to buy an additional $75 million in notes. The notes will be senior unsecured, accruing interest semiannually and convertible into cash, shares, or a combination. Proceeds will fund capped call transactions to reduce stock dilution, repurchase part of the 2026 Notes, and for general corporate purposes. The offering's final terms and interest rates will be set upon pricing.
BlackLine, Inc. (Nasdaq: BL) has been recognized as a leader in Invoice to Cash (I2C) and Record to Report (R2R) categories by Information Services Group (ISG) in their 2024 Provider Lens™ study. BlackLine is the only company identified as a leader in both categories, showcasing its ability to help businesses transform and manage finance and accounting operations efficiently.
BlackLine, Inc. announced their first-quarter financial results, showcasing impressive growth in revenues and profitability. With a focus on innovation and customer value, the company aims to lead digital finance transformation through an AI-powered platform. Financial highlights include a total GAAP revenue of $157.5 million, a non-GAAP operating margin of 17.0%, and a strong operating cash flow of $50.4 million. BlackLine also added new customers, expanded its user base, and achieved a dollar-based net revenue retention rate of 105%.
BlackLine, Inc. (Nasdaq: BL) has appointed software veteran Jimmy Duan as chief customer officer to lead all customer- and partner-facing teams. With over 25 years of experience in SaaS and enterprise software, Mr. Duan is expected to enhance customer experience and drive growth. BlackLine provides market-leading solutions for digital finance transformation, with a focus on automation, efficiency, financial governance, and risk management for CFOs.
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