Blackline Inc Stock Price, News & Analysis

BlackLine (Nasdaq: BL) reported its Q2 2024 financial results, highlighting a total GAAP revenue of $160.5 million, an 11% increase from Q2 2023. The GAAP net income was $76.7 million, or $0.22 per diluted share, while non-GAAP net income was $42.9 million, or $0.58 per share. The company achieved a non-GAAP operating margin of 19.8%, up from 13.4% in Q2 2023.

Key metrics included adding 24 net new customers, expanding the user base to 396,366, and a dollar-based net revenue retention rate of 104%. Additionally, BlackLine repaid $250 million in convertible senior notes and announced a private offering of $675 million in 2029 convertible senior notes.

The financial outlook for Q3 2024 projects GAAP revenue of $162-$164 million and for full-year 2024, a GAAP revenue of $647-$651 million with a non-GAAP operating margin of 18%-19%.

BlackLine (Nasdaq: BL) has announced the date for its second quarter 2024 earnings release and conference call. The company will release its financial results for the quarter ended June 30, 2024, after market close on Tuesday, August 6, 2024. This will be followed by a conference call hosted by management at 2:00 p.m. PT / 5:00 p.m. ET on the same day.

Investors and interested parties can access a live webcast and replay of the call on BlackLine's investor relations website. For those wishing to join via phone, registration is required, and dial-in details will be provided upon registration. To ensure a smooth experience, participants are encouraged to dial in fifteen minutes before the scheduled start time.

BlackLine (Nasdaq: BL) announced its new solution, SAP Account Substantiation and Automation by BlackLine, financial review option, which will be sold as an SAP Solution Extension. This product aims to assist CFOs with proactive analysis of financial statement items, offering transparency and traceability. BlackLine, a long-term SAP partner, provides unique record-to-report capabilities. SAP's chief accounting officer highlighted the efficiency, risk reduction, and transparency this solution offers. Key features include advanced reconciliation automation and centralized workspace for financial reviews. Over 1,300 companies use BlackLine with SAP products, benefiting from integration with more than 30 ERP systems.

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.