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BLACKLINE, INC.

CIK:0001666134|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 187,822	$ 172,025	$ 370,977	$ 338,956
Cost of revenues
Total cost of revenues	45,144	42,622	89,149	83,546
Gross profit	142,678	129,403	281,828	255,410
Operating expenses
Sales and marketing	68,489	64,712	135,910	127,775
Research and development	31,294	27,964	61,854	53,689
General and administrative	30,788	28,138	64,029	56,483
Restructuring costs	1,117	1,044	2,810	6,343
Total operating expenses	131,688	121,858	264,603	244,290
Income from operations	10,990	7,545	17,225	11,120
Other income (expense)
Interest income	4,138	8,555	10,196	17,447
Interest expense	(2,360)	(2,533)	(4,854)	(5,055)
Other income, net	1,778	6,022	5,342	12,392
Income before income taxes	12,768	13,567	22,567	23,512
Provision for income taxes	3,500	6,176	9,408	10,847
Net income	9,268	7,391	13,159	12,665
Net income attributable to redeemable non-controlling interest	937	660	1,331	1,057
Adjustment attributable to redeemable non-controlling interest	(8,150)	(1,561)	(12,779)	(2,739)
Net income attributable to BlackLine, Inc.	$ 16,481	$ 8,292	$ 24,607	$ 14,347
Basic net income per share attributable to BlackLine, Inc. (in usd per share)	$ 0.28	$ 0.13	$ 0.42	$ 0.23
Shares used to calculate basic net income per share (in shares)	58,529	62,143	58,981	62,481
Diluted net income per share attributable to BlackLine, Inc. (in usd per share)	$ 0.27	$ 0.13	$ 0.40	$ 0.23
Shares used to calculate diluted net income per share (in shares)	68,558	64,004	69,192	64,420
Subscription and support
Revenues
Total revenues	$ 177,856	$ 163,027	$ 351,570	$ 321,489
Cost of revenues
Total cost of revenues	37,509	35,189	73,945	69,319
Professional services
Revenues
Total revenues	9,966	8,998	19,407	17,467
Cost of revenues
Total cost of revenues	$ 7,635	$ 7,433	$ 15,204	$ 14,227

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income attributable to BlackLine, Inc.	$ 24,607	$ 14,347
Net income and adjustment attributable to redeemable non-controlling interest (Note 4)	(11,448)	(1,682)
Net income	13,159	12,665
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	24,559	22,973
Amortization of debt issuance costs	1,446	1,679
Stock-based compensation	51,222	43,231
Noncash lease expense	2,944	2,694
Reductions in noncash lease liabilities	(351)	0
Gains on disposal of fixed assets	(23)	0
Realized gains on sales of marketable securities	(7)	0
Accretion of purchase discounts on marketable securities, net	(4,397)	(5,361)
Net foreign currency (gains) losses	(149)	561
Deferred income taxes	3,385	(2,234)
Provision for credit losses	19	75
Changes in operating assets and liabilities:
Accounts receivable	26,782	5,468
Prepaid expenses and other current assets	(879)	4,788
Other assets	4,743	(1,428)
Accounts payable	(6,988)	2,529
Accrued expenses and other current liabilities	(16,807)	(12,989)
Deferred revenue	(4,258)	2,248
Operating lease liabilities	(3,643)	(3,239)
Lease incentive receipts	0	30
Other long-term liabilities	530	5,397
Net cash provided by operating activities	91,287	79,087
Cash flows from investing activities
Purchases of marketable securities	(191,283)	(476,940)
Proceeds from maturities of marketable securities	296,922	84,000
Proceeds from sales of marketable securities	1,626	0
Capitalized software development costs	(15,020)	(14,161)
Purchases of property and equipment	(4,034)	(6,917)
Net cash provided by (used in) investing activities	88,211	(414,018)
Cash flows from financing activities
Purchase of additional redeemable non-controlling interest	(3,291)	0
Repayment of convertible senior notes	(230,196)	0
Principal payments under finance lease obligations	(6)	(60)
Lease incentive receipts - finance leases	37	0
Repurchases of common stock	(84,450)	(88,783)
Proceeds from exercises of stock options	408	5,018
Proceeds from exercises of stock options - redeemable non-controlling interest	152	0
Proceeds from employee stock purchase plan	4,086	4,592
Acquisition of common stock for tax withholding obligations	(13,103)	(12,991)
Net cash used in financing activities	(326,363)	(92,224)
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash	(276)	410
Net decrease in cash, cash equivalents, and restricted cash	(147,141)	(426,745)
Cash, cash equivalents, and restricted cash, beginning of period	390,220	886,147
Cash, cash equivalents, and restricted cash, end of period	243,079	459,402
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents at end of period	242,897	459,141
Restricted cash included within prepaid expenses and other current assets at end of period	182	0
Restricted cash included within other assets at end of period	0	261
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows	243,079	459,402
Non-cash financing and investing activities
Stock-based compensation capitalized for software development	2,454	2,251
Capitalized software development costs included in accounts payable and accrued expenses and other current liabilities at end of period	1,168	1,343
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities at end of period	547	505
Accrued liabilities for repurchases of common stock	337	0
Excise tax on repurchases of common stock	$ 539	$ 485

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 242,897	$ 390,034
Marketable securities (amortized cost of $285,087 and $387,936 at June 30, 2026 and December 31, 2025, respectively)	284,863	388,178
Accounts receivable, net of allowances of $2,734 and $2,970 at June 30, 2026 and December 31, 2025, respectively	190,185	218,100
Prepaid expenses and other current assets	29,685	28,897
Total current assets	747,630	1,025,209
Capitalized software development costs, net	52,013	49,494
Property and equipment, net	15,555	13,255
Intangible assets, net	41,768	49,352
Goodwill	465,715	465,804
Operating lease right-of-use assets	21,024	22,756
Deferred tax assets, net	35,652	39,341
Other assets	89,579	94,308
Total assets	1,468,936	1,759,519
Current liabilities:
Accounts payable	6,323	15,523
Accrued expenses and other current liabilities	60,145	76,790
Deferred revenue, current	363,684	368,593
Finance lease liabilities, current	13	12
Operating lease liabilities, current	4,354	4,436
Convertible senior notes, net, current	0	230,023
Total current liabilities	434,519	695,377
Finance lease liabilities, noncurrent	2,212	40
Operating lease liabilities, noncurrent	16,842	19,850
Convertible senior notes, net, noncurrent	667,319	666,046
Deferred tax liabilities, net	4,906	5,244
Deferred revenue, noncurrent	1,568	922
Other long-term liabilities	1,103	593
Total liabilities	1,128,469	1,388,072
Commitments and contingencies (Note 13)
Redeemable non-controlling interest (Note 4)	24,293	39,121
Stockholders' equity:
Common stock, $0.01 par value, 500,000,000 shares authorized, 58,376,978 and 59,880,563 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	584	599
Additional paid-in capital	329,461	356,841
Accumulated other comprehensive loss	(881)	(296)
Accumulated deficit	(12,990)	(24,818)
Total stockholders' equity	316,174	332,326
Total liabilities, redeemable non-controlling interest, and stockholders' equity	$ 1,468,936	$ 1,759,519