BlackLine (BL) Financials

$32.34 -1.09 (-3.26%)

Closing price 05/5/2026 04:00 PM Eastern

Extended Trading

$33.02 +0.68 (+2.09%)

As of 05/5/2026 07:01 PM Eastern

Annual Income Statements for BlackLine

This table shows BlackLine's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-25	-26	-33	-29	-33	-47	-115	-29	53	161	25
Consolidated Net Income / (Loss)	-25	-26	-33	-29	-32	-39	-101	-34	59	168	27
Net Income / (Loss) Continuing Operations	-25	-26	-33	-29	-32	-39	-101	-34	59	168	27
Total Pre-Tax Income	-38	-35	-33	-28	-30	-39	-101	-47	61	125	48
Total Operating Income	-35	-23	-30	-30	-28	-20	-39	-56	14	19	26
Total Gross Profit	61	98	134	177	230	283	328	394	443	491	527
Total Revenue	84	128	176	228	289	352	426	523	590	653	700
Operating Revenue	84	128	176	228	289	352	426	523	590	653	700
Total Cost of Revenue	23	30	41	51	59	69	98	129	147	162	173
Operating Cost of Revenue	23	30	41	51	59	69	98	129	147	162	173
Total Operating Expenses	96	121	165	207	258	303	366	450	429	473	501
Selling, General & Admin Expense	21	28	37	47	56	72	87	80	72	122	119
Marketing Expense	57	72	104	129	159	175	203	257	243	248	259
Research & Development Expense	18	21	24	31	43	56	77	109	103	101	109
Restructuring Charge	-	-	-	-	-	0.00	0.00	3.84	11	1.72	15
Total Other Income / (Expense), net	-3.64	-12	-2.43	2.13	-2.52	-19	-62	8.79	46	106	23
Interest Expense	3.22	5.94	0.01	0.00	8.65	23	63	5.85	5.90	-56	10
Interest & Investment Income	0.00	0.00	1.07	2.14	6.13	4.50	0.70	15	52	50	33
Income Tax Expense	-14	-8.66	0.57	1.07	1.73	0.70	0.14	-14	1.45	-43	21
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	-0.06	0.39	7.51	14	-4.50	6.23	6.59	2.74
Basic Earnings per Share	($0.61)	($0.62)	($0.64)	($0.53)	($0.59)	($0.83)	($1.97)	($0.49)	$0.87	$2.59	$0.40
Weighted Average Basic Shares Outstanding	40.58M	42.50M	52.16M	53.91M	55.32M	56.83M	58.35M	59.54M	60.85M	62.13M	61.43M
Diluted Earnings per Share	($0.61)	($0.62)	($0.64)	($0.53)	($0.59)	($0.83)	($1.97)	($0.49)	$0.81	$1.45	$0.39
Weighted Average Diluted Shares Outstanding	40.58M	42.50M	52.16M	53.91M	55.32M	56.83M	58.35M	59.54M	72.05M	73.50M	65.92M
Weighted Average Basic & Diluted Shares Outstanding	40.58M	42.60M	-330.50M	53.50M	56.30M	57.79M	59.24M	60.05M	61.52M	62.81M	59.54M

This table shows BlackLine's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	31	12	22	11	77	17	56	6.06	8.29	5.29	4.89
Consolidated Net Income / (Loss)	28	13	24	15	75	15	63	5.27	7.39	8.61	5.98
Net Income / (Loss) Continuing Operations	28	13	24	15	75	15	63	5.27	7.39	8.61	5.98
Total Pre-Tax Income	29	11	26	16	79	17	13	9.95	14	13	11
Total Operating Income	18	-1.07	13	1.75	2.21	8.36	6.22	3.58	7.55	7.61	6.82
Total Gross Profit	107	114	118	118	120	125	128	126	129	134	138
Total Revenue	145	151	156	157	161	166	169	167	172	178	183
Operating Revenue	145	151	156	157	161	166	169	167	172	178	183
Total Cost of Revenue	37	37	38	39	40	41	41	41	43	44	45
Operating Cost of Revenue	37	37	38	39	40	41	41	41	43	44	45
Total Operating Expenses	90	115	105	117	118	116	122	122	122	126	131
Selling, General & Admin Expense	-0.15	18	25	30	31	28	32	28	28	29	33
Marketing Expense	63	62	57	61	60	62	65	63	65	67	64
Research & Development Expense	27	27	23	25	26	26	25	26	28	27	28
Restructuring Charge	0.14	8.66	1.15	0.44	0.93	0.36	-0.01	5.30	1.04	2.27	6.02
Total Other Income / (Expense), net	11	13	13	14	77	8.31	6.88	6.37	6.02	5.66	4.63
Interest Expense	1.47	1.49	1.48	1.47	-63	2.68	2.52	2.52	2.53	2.55	2.55
Interest & Investment Income	13	14	15	15	14	11	9.40	8.89	8.56	8.20	7.18
Income Tax Expense	0.93	-2.01	1.90	0.87	4.34	2.10	-50	4.67	6.18	4.65	5.47
Net Income / (Loss) Attributable to Noncontrolling Interest	-2.78	1.55	2.18	3.94	-1.73	-2.67	7.05	-0.78	-0.90	3.33	1.10
Basic Earnings per Share	$0.51	$0.20	$0.36	$0.18	$1.24	$0.28	$0.89	$0.10	$0.13	$0.09	$0.08
Weighted Average Basic Shares Outstanding	60.70M	61.10M	60.85M	61.64M	61.98M	62.25M	62.13M	62.82M	62.14M	61.16M	61.43M
Diluted Earnings per Share	$0.45	$0.19	$0.37	$0.17	$0.22	$0.27	$0.79	$0.10	$0.13	$0.09	$0.07
Weighted Average Diluted Shares Outstanding	71.80M	72.10M	72.05M	72.89M	72.52M	73.97M	73.50M	64.84M	64.00M	63.20M	65.92M
Weighted Average Basic & Diluted Shares Outstanding	60.98M	61.27M	61.52M	61.82M	62.18M	62.49M	62.81M	62.32M	61.89M	59.49M	59.54M

This table details how cash moves in and out of BlackLine's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-11	6.91	8.99	15	74	247	172	-339	70	615	-496
Net Cash From Operating Activities	1.01	-4.81	6.42	16	30	55	80	56	127	191	170
Net Cash From Continuing Operating Activities	1.01	-4.81	6.42	16	30	55	80	56	127	191	170
Net Income / (Loss) Continuing Operations	-25	-26	-33	-29	-32	-39	-101	-34	59	168	27
Consolidated Net Income / (Loss)	-25	-26	-33	-29	-32	-39	-101	-34	59	168	27
Depreciation Expense	15	17	20	22	21	21	27	43	50	50	47
Amortization Expense	0.00	0.00	0.04	-0.93	6.25	23	56	-3.36	-28	-14	-8.30
Non-Cash Adjustments To Reconcile Net Income	8.51	11	20	21	39	54	77	86	83	25	99
Changes in Operating Assets and Liabilities, net	2.49	-6.44	-0.28	2.28	-4.94	-3.74	21	-36	-37	-38	4.82
Net Cash From Investing Activities	-12	-120	-7.03	-16	-408	174	-507	-396	-62	924	-425
Net Cash From Continuing Investing Activities	-12	-120	-7.03	-16	-408	174	-507	-396	-62	924	-425
Purchase of Property, Plant & Equipment	-12	-4.99	-8.63	-12	-9.69	-17	-23	-30	-28	-27	-35
Acquisitions	0.00	-31	-	0.00	0.00	-122	0.00	-158	-11	0.00	-16
Purchase of Investments	0.00	-83	-77	-123	-566	-266	-1,181	-1,600	-1,343	-396	-748
Sale and/or Maturity of Investments	0.00	0.00	78	119	167	579	697	1,392	1,320	1,347	373
Net Cash From Financing Activities	0.86	131	9.59	15	453	19	599	1.44	6.15	-500	-240
Net Cash From Continuing Financing Activities	0.86	131	9.59	15	453	19	599	1.44	6.15	-500	-240
Repayment of Debt	-0.53	-61	-0.55	-0.44	0.00	0.00	-432	0.00	0.00	-1,099	0.00
Repurchase of Common Equity	-0.03	-4.37	-0.11	-	-	-	-	-	0.00	0.00	-236
Issuance of Debt	0.00	34	0.00	0.00	487	0.00	1,129	0.00	0.00	662	0.00
Issuance of Common Equity	0.00	159	0.00	4.32	5.30	6.97	11	7.00	8.01	7.01	7.17
Other Financing Activities, net	1.42	2.86	10	11	-40	12	-109	-5.56	-1.86	-71	-12
Effect of Exchange Rate Changes	-	0.00	0.00	0.27	0.26	0.22	-0.31	-0.62	-0.12	-0.35	-0.09
Cash Interest Paid	0.63	8.65	0.01	0.00	0.00	0.60	0.51	0.31	0.31	3.82	6.75

This table details how cash moves in and out of BlackLine's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-18	32	35	60	285	109	161	-406	-20	-40	-30
Net Cash From Operating Activities	25	37	42	50	41	56	44	47	32	64	27
Net Cash From Continuing Operating Activities	24	37	41	50	41	56	43	47	32	64	27
Net Income / (Loss) Continuing Operations	28	13	24	15	75	15	63	5.27	7.39	8.61	5.98
Consolidated Net Income / (Loss)	28	13	24	15	75	15	63	5.27	7.39	8.61	5.98
Depreciation Expense	12	13	13	13	13	13	12	11	11	12	12
Amortization Expense	-6.87	-7.84	-7.49	-7.16	-5.43	-1.90	0.52	-1.13	-2.55	-2.29	-2.33
Non-Cash Adjustments To Reconcile Net Income	22	22	16	20	-41	25	21	20	27	25	28
Changes in Operating Assets and Liabilities, net	-31	-3.13	-4.23	10	-0.47	5.67	-53	11	-11	21	-17
Net Cash From Investing Activities	-56	-11	-4.19	21	485	304	114	-399	-15	11	-22
Net Cash From Continuing Investing Activities	-56	-11	-4.19	21	485	304	114	-399	-15	11	-22
Purchase of Property, Plant & Equipment	-6.59	-5.62	-6.83	-6.75	-6.31	-6.51	-7.27	-14	-6.96	-6.79	-6.80
Purchase of Investments	-414	-257	-361	-295	-101	-	-	-385	-92	-131	-140
Sale and/or Maturity of Investments	365	263	364	323	593	310	121	0.00	84	148	141
Net Cash From Financing Activities	14	6.10	-3.25	-11	-241	-252	3.22	-54	-38	-114	-34
Net Cash From Continuing Financing Activities	14	6.10	-3.25	-11	-241	-252	3.22	-54	-38	-114	-34
Repurchase of Common Equity	-	-	-	0.00	-	-	-	-45	-43	-112	-35
Issuance of Common Equity	-	-	2.72	-	-	-	2.76	-	-	-	2.58
Other Financing Activities, net	8.25	6.10	-5.97	-11	-59	-1.08	0.46	-8.86	0.83	-1.74	-1.97
Effect of Exchange Rate Changes	-0.17	-0.06	0.15	-0.21	-0.21	0.48	-0.40	0.24	0.17	-0.15	-0.36

This table presents BlackLine's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	287	420	461	493	1,015	1,114	1,818	1,944	2,101	1,825	1,760
Total Current Assets	48	164	188	222	723	674	1,348	1,250	1,407	1,092	1,025
Cash & Equivalents	15	22	31	46	120	367	540	201	271	886	390
Short-Term Investments	0.00	83	81	86	488	175	659	874	933	0.00	388
Accounts Receivable	24	42	62	75	103	111	125	151	172	178	218
Prepaid Expenses	2.80	6.61	14	14	13	20	24	24	31	28	29
Plant, Property, & Equipment, net	12	11	13	14	13	13	16	20	15	12	13
Total Noncurrent Assets	226	245	260	258	278	426	454	674	679	721	721
Goodwill	163	185	185	185	185	290	290	444	449	449	466
Intangible Assets	60	59	48	37	28	62	60	123	117	105	99
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	0.15	53	39
Other Noncurrent Operating Assets	2.90	1.45	27	36	65	74	104	107	113	114	117
Total Liabilities & Shareholders' Equity	287	420	461	493	1,015	1,114	1,818	1,944	2,101	1,825	1,760
Total Liabilities	121	129	144	170	611	679	1,464	1,808	1,810	1,342	1,388
Total Current Liabilities	74	108	134	159	207	242	323	368	643	422	695
Short-Term Debt	2.01	2.01	2.01	2.01	2.01	7.94	16	8.00	249	0.00	230
Accounts Payable	4.65	7.17	7.25	3.44	7.40	3.15	7.47	15	8.62	8.46	16
Accrued Expenses	15	19	21	24	30	36	51	59	60	72	77
Current Deferred Revenue	53	80	104	129	163	191	242	279	320	339	369
Other Current Liabilities	-	-	-	-	4.94	4.15	5.31	6.93	4.89	3.59	4.45
Total Noncurrent Liabilities	46	21	9.19	11	404	437	1,141	1,440	1,167	920	693
Long-Term Debt	28	-	-	0.00	384	407	1,114	1,384	1,141	893	666
Noncurrent Deferred Revenue	0.00	2.37	0.47	0.28	0.16	0.08	0.36	0.34	0.90	1.39	0.92
Noncurrent Deferred & Payable Income Tax Liabilities	5.91	1.26	1.74	3.26	4.57	6.57	8.18	5.57	6.39	4.53	5.24
Other Noncurrent Operating Liabilities	12	17	6.98	7.29	15	23	18	50	19	21	20
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	0.00	4.39	4.91	13	29	24	30	36	39
Total Equity & Noncontrolling Interests	166	291	317	319	399	422	325	112	261	447	332
Total Preferred & Common Equity	166	291	317	319	399	422	325	112	261	447	332
Total Common Equity	166	291	317	319	399	422	325	112	261	447	332
Common Stock	215	379	420	452	562	623	626	386	475	496	357
Retained Earnings	-48	-87	-103	-133	-164	-202	-302	-273	-215	-49	-25
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.04	-0.06	0.05	0.38	0.38	0.30	-1.47	0.21	-0.36	-0.30

This table presents BlackLine's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	1,878	1,933	1,975	2,016	2,089	1,891	1,695	1,781	1,793	1,704
Total Current Assets	1,177	1,243	1,284	1,319	1,404	1,210	1,013	1,043	1,056	984
Cash & Equivalents	191	223	205	236	331	617	725	480	459	420
Short-Term Investments	855	865	922	926	913	428	121	387	398	384
Accounts Receivable	109	120	130	130	126	137	136	147	175	156
Prepaid Expenses	22	35	28	27	33	28	30	30	24	24
Plant, Property, & Equipment, net	21	19	17	15	13	12	11	14	14	13
Total Noncurrent Assets	680	670	675	682	672	669	671	724	723	707
Goodwill	444	444	444	449	449	449	449	449	449	449
Intangible Assets	126	120	117	121	113	110	107	102	100	98
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	54	56	45
Other Noncurrent Operating Assets	110	106	114	112	110	110	115	118	118	116
Total Liabilities & Shareholders' Equity	1,878	1,933	1,975	2,016	2,089	1,891	1,695	1,781	1,793	1,704
Total Liabilities	1,775	1,787	1,773	1,773	1,775	1,533	1,298	1,327	1,344	1,337
Total Current Liabilities	315	364	355	606	610	620	377	630	644	647
Short-Term Debt	6.51	26	17	257	250	250	0.00	229	230	230
Accounts Payable	5.53	4.57	7.90	4.80	1.56	2.08	3.93	3.96	12	10
Accrued Expenses	51	49	45	61	47	52	68	63	57	76
Current Deferred Revenue	245	277	280	278	307	311	301	331	342	325
Other Current Liabilities	6.23	6.88	5.43	5.00	4.76	4.50	3.98	3.39	3.72	5.84
Total Noncurrent Liabilities	1,461	1,423	1,418	1,167	1,165	913	920	697	700	690
Long-Term Debt	1,383	1,386	1,387	1,140	1,142	891	892	664	665	665
Noncurrent Deferred Revenue	0.42	0.74	0.64	0.70	2.35	1.98	1.20	1.27	0.80	0.57
Noncurrent Deferred & Payable Income Tax Liabilities	5.27	5.49	5.62	6.02	5.25	5.02	4.85	4.34	4.80	4.66
Other Noncurrent Operating Liabilities	72	31	24	20	16	15	22	27	29	20
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	25	29	26	28	34	32	30	36	35	38
Total Equity & Noncontrolling Interests	78	117	176	216	280	326	368	418	414	328
Total Preferred & Common Equity	78	117	176	216	280	326	368	418	414	328
Total Common Equity	78	117	176	216	280	326	368	418	414	328
Common Stock	364	397	430	456	481	452	480	462	452	359
Retained Earnings	-283	-280	-252	-239	-200	-126	-112	-44	-37	-30
Accumulated Other Comprehensive Income / (Loss)	-3.08	-0.23	-1.53	-1.16	-0.49	-0.56	-0.12	-0.18	-0.17	-0.10

This table displays calculated financial ratios and metrics derived from BlackLine's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	61.79%	53.14%	37.15%	29.72%	26.86%	21.72%	21.03%	22.84%	12.82%	10.74%	7.21%
EBITDA Growth	-143.27%	43.21%	-19.35%	39.33%	95.54%	6,358.78%	87.22%	-138.01%	315.57%	52.16%	16.14%
EBIT Growth	-61.03%	17.51%	-16.64%	11.99%	6.49%	28.70%	-94.13%	-45.54%	125.53%	29.19%	37.85%
NOPAT Growth	-91.50%	33.41%	-31.17%	1.88%	6.49%	28.70%	-94.13%	-45.54%	135.60%	78.07%	-42.09%
Net Income Growth	-47.65%	-6.48%	-26.85%	13.86%	-11.71%	-22.57%	-156.32%	66.44%	274.26%	184.06%	-83.75%
EPS Growth	-45.24%	-1.64%	-3.23%	17.19%	-11.32%	-40.68%	-137.35%	75.13%	265.31%	79.01%	-73.10%
Operating Cash Flow Growth	-88.75%	-577.93%	233.61%	151.25%	84.16%	84.14%	46.33%	-30.07%	126.04%	50.72%	-11.15%
Free Cash Flow Firm Growth	0.00%	88.74%	-72.06%	81.84%	-18.36%	-1,519.68%	95.82%	-3,466.70%	95.50%	222.04%	32.72%
Invested Capital Growth	0.00%	3.82%	9.87%	-6.60%	-5.68%	68.54%	-6.92%	58.56%	5.14%	2.86%	-0.12%
Revenue Q/Q Growth	0.00%	0.00%	5.89%	5.71%	6.62%	4.59%	4.83%	4.94%	2.75%	2.15%	2.00%
EBITDA Q/Q Growth	0.00%	0.00%	2.17%	-94.06%	94.98%	5.11%	5.05%	18.33%	24.92%	1.30%	-3.70%
EBIT Q/Q Growth	0.00%	0.00%	-0.24%	-16.41%	11.67%	-14.08%	-30.37%	25.73%	198.23%	-26.25%	2.43%
NOPAT Q/Q Growth	0.00%	0.00%	-25.92%	-16.41%	11.67%	-14.08%	-30.37%	25.73%	183.90%	6.33%	-65.93%
Net Income Q/Q Growth	0.00%	0.00%	-5.30%	-17.00%	-0.02%	-11.05%	-24.45%	55.91%	30.36%	30.51%	-67.84%
EPS Q/Q Growth	0.00%	0.00%	-6.67%	-17.78%	0.00%	-20.29%	-20.12%	62.88%	26.56%	40.78%	-64.86%
Operating Cash Flow Q/Q Growth	0.00%	-318.05%	394.27%	14.74%	12.92%	13.68%	10.05%	6.93%	14.90%	0.86%	-9.17%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	75.25%	65.02%	-22.48%	-107.69%	3.51%	65.65%	-80.58%	-46.04%
Invested Capital Q/Q Growth	0.00%	0.00%	9.95%	-3.13%	-9.71%	1.37%	0.30%	1.57%	-0.36%	10.57%	6.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.81%	76.40%	76.43%	77.67%	79.59%	80.39%	77.01%	75.26%	75.12%	75.21%	75.25%
EBITDA Margin	-24.51%	-9.09%	-7.91%	-3.70%	-0.13%	6.69%	10.35%	-3.20%	6.12%	8.41%	9.11%
Operating Margin	-41.64%	-18.11%	-17.32%	-13.10%	-9.65%	-5.66%	-9.07%	-10.75%	2.43%	2.84%	3.65%
EBIT Margin	-42.14%	-22.70%	-19.30%	-13.10%	-9.65%	-5.66%	-9.07%	-10.75%	2.43%	2.84%	3.65%
Profit (Net Income) Margin	-29.58%	-20.57%	-19.02%	-12.63%	-11.12%	-11.20%	-23.72%	-6.48%	10.01%	25.68%	3.89%
Tax Burden Percent	64.33%	75.26%	101.72%	103.87%	105.67%	101.81%	100.13%	71.48%	97.60%	134.54%	56.52%
Interest Burden Percent	109.13%	120.41%	96.88%	92.85%	109.04%	194.56%	261.20%	84.36%	421.72%	672.73%	188.74%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.40%	-34.54%	43.48%
Return on Invested Capital (ROIC)	-26.89%	-8.79%	-10.78%	-10.45%	-10.41%	-5.69%	-9.12%	-10.65%	3.01%	5.16%	2.95%
ROIC Less NNEP Spread (ROIC-NNEP)	-31.74%	14.14%	0.56%	-3.90%	-3.24%	8.90%	66.48%	-6.28%	20.94%	153.84%	23.52%
Return on Net Nonoperating Assets (RNNOA)	-2.88%	-2.73%	-0.20%	1.47%	1.57%	-3.71%	-16.50%	-3.20%	24.67%	38.18%	3.43%
Return on Equity (ROE)	-29.77%	-11.51%	-10.98%	-8.98%	-8.84%	-9.40%	-25.62%	-13.85%	27.68%	43.34%	6.38%
Cash Return on Invested Capital (CROIC)	-226.89%	-12.54%	-20.18%	-3.62%	-4.57%	-56.74%	-1.96%	-55.95%	-2.00%	2.35%	3.07%
Operating Return on Assets (OROA)	-12.29%	-8.22%	-7.69%	-6.25%	-3.70%	-1.87%	-2.63%	-2.99%	0.71%	0.94%	1.43%
Return on Assets (ROA)	-8.63%	-7.45%	-7.58%	-6.03%	-4.26%	-3.70%	-6.89%	-1.80%	2.92%	8.55%	1.52%
Return on Common Equity (ROCE)	-29.77%	-11.51%	-10.98%	-8.92%	-8.73%	-9.21%	-24.28%	-12.36%	24.18%	39.62%	5.81%
Return on Equity Simple (ROE_SIMPLE)	-14.88%	-9.04%	-10.53%	-9.01%	-8.06%	-9.34%	-31.07%	-30.30%	22.64%	37.56%	0.00%
Net Operating Profit after Tax (NOPAT)	-24	-16	-21	-21	-20	-14	-27	-39	14	25	14
NOPAT Margin	-29.15%	-12.67%	-12.12%	-9.17%	-6.76%	-3.96%	-6.35%	-7.52%	2.37%	3.82%	2.06%
Net Nonoperating Expense Percent (NNEP)	4.85%	-22.93%	-11.34%	-6.54%	-7.17%	-14.60%	-75.60%	-4.37%	-17.93%	-148.68%	-20.57%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-2.62%	0.85%	1.86%	1.18%
Cost of Revenue to Revenue	27.19%	23.60%	23.57%	22.33%	20.41%	19.61%	22.99%	24.74%	24.88%	24.79%	24.75%
SG&A Expenses to Revenue	25.03%	21.80%	20.95%	20.72%	19.40%	20.36%	20.32%	15.33%	12.12%	18.64%	16.95%
R&D to Revenue	21.79%	16.50%	13.60%	13.50%	14.88%	16.05%	18.16%	20.82%	17.49%	15.46%	15.59%
Operating Expenses to Revenue	114.45%	94.51%	93.75%	90.76%	89.25%	86.05%	86.08%	86.00%	72.69%	72.37%	71.60%
Earnings before Interest and Taxes (EBIT)	-35	-29	-34	-30	-28	-20	-39	-56	14	19	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-12	-14	-8.43	-0.38	24	44	-17	36	55	64
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	4.86	5.46	7.01	7.20	18.09	18.68	35.95	14.66	8.50	9.90
Price to Tangible Book Value (P/TBV)	0.00	29.78	20.51	22.99	15.43	109.10	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	11.06	9.87	9.82	9.93	21.71	14.27	7.69	6.48	5.81	4.70
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	72.41	23.56	134.15
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.38%	4.25%	0.75%
Enterprise Value to Invested Capital (EV/IC)	0.00	6.98	7.85	10.94	14.56	24.50	21.12	9.63	8.48	7.84	7.04
Enterprise Value to Revenue (EV/Rev)	0.00	10.26	9.24	9.27	9.18	21.38	14.17	8.34	6.85	5.88	4.92
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	319.62	136.95	0.00	111.95	69.91	54.02
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	281.65	207.16	134.86
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	288.57	153.98	238.62
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	252.64	130.83	89.23	137.42	75.34	77.88	31.92	20.12	20.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	338.65	228.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.18	0.01	0.01	0.01	0.96	0.95	3.20	10.26	4.78	1.85	2.41
Long-Term Debt to Equity	0.17	0.00	0.00	0.00	0.95	0.94	3.15	10.20	3.92	1.85	1.79
Financial Leverage	0.09	-0.19	-0.35	-0.38	-0.48	-0.42	-0.25	0.51	1.18	0.25	0.15
Leverage Ratio	1.73	1.55	1.45	1.49	2.07	2.54	3.72	7.68	9.48	5.07	4.19
Compound Leverage Factor	1.88	1.86	1.40	1.38	2.26	4.94	9.71	6.48	39.97	34.12	7.92
Debt to Total Capital	15.41%	0.68%	0.63%	0.62%	48.91%	48.85%	76.17%	91.12%	82.69%	64.88%	70.69%
Short-Term Debt to Total Capital	1.02%	0.68%	0.63%	0.62%	0.25%	0.93%	1.11%	0.52%	14.83%	0.00%	18.15%
Long-Term Debt to Total Capital	14.39%	0.00%	0.00%	0.00%	48.66%	47.91%	75.06%	90.59%	67.86%	64.88%	52.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	1.35%	0.62%	1.47%	1.93%	1.56%	1.79%	2.65%	3.09%
Common Equity to Total Capital	84.59%	99.32%	99.37%	98.04%	50.47%	49.68%	21.90%	7.32%	15.52%	32.47%	26.22%
Debt to EBITDA	-1.48	-0.17	-0.14	-0.24	-1,027.53	17.63	25.66	-83.15	38.50	16.25	14.05
Net Debt to EBITDA	-0.74	8.87	7.96	15.49	588.82	-5.42	-1.54	-18.95	5.14	0.12	1.85
Long-Term Debt to EBITDA	-1.38	0.00	0.00	0.00	-1,022.19	17.30	25.29	-82.67	31.60	16.25	10.44
Debt to NOPAT	-1.24	-0.12	-0.09	-0.10	-19.78	-29.80	-41.83	-35.39	99.24	35.80	62.05
Net Debt to NOPAT	-0.62	6.36	5.19	6.25	11.34	9.17	2.52	-8.06	13.24	0.27	8.16
Long-Term Debt to NOPAT	-1.16	0.00	0.00	0.00	-19.68	-29.23	-41.22	-35.19	81.45	35.80	46.12
Altman Z-Score	0.00	6.53	7.21	7.94	3.40	7.22	3.10	1.86	1.87	2.49	2.07
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.68%	1.28%	2.08%	5.23%	10.74%	12.65%	8.60%	8.85%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.65	1.51	1.40	1.39	3.49	2.78	4.18	3.40	2.19	2.59	1.47
Quick Ratio	0.53	1.36	1.30	1.30	3.43	2.70	4.10	3.33	2.14	2.52	1.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-206	-23	-40	-7.24	-8.57	-139	-5.79	-207	-9.29	11	15
Operating Cash Flow to CapEx	8.13%	-96.28%	74.47%	134.96%	306.69%	320.26%	344.26%	185.58%	458.79%	711.01%	489.07%
Free Cash Flow to Firm to Interest Expense	-63.95	-3.90	-3,065.33	-1,809.30	-0.99	-5.95	-0.09	-35.32	-1.58	0.00	1.48
Operating Cash Flow to Interest Expense	0.31	-0.81	494.15	4,035.00	3.44	2.35	1.27	9.57	21.47	0.00	16.71
Operating Cash Flow Less CapEx to Interest Expense	-3.53	-1.65	-169.38	1,045.25	2.32	1.61	0.90	4.42	16.79	0.00	13.29
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.36	0.40	0.48	0.38	0.33	0.29	0.28	0.29	0.33	0.39
Accounts Receivable Turnover	3.45	3.85	3.37	3.33	3.25	3.29	3.60	3.79	3.66	3.74	3.54
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.73	10.79	14.58	17.32	21.76	26.79	28.80	28.95	34.03	48.93	55.82
Accounts Payable Turnover	4.89	5.11	5.74	9.51	10.88	13.07	18.43	11.53	12.45	18.96	14.46
Days Sales Outstanding (DSO)	105.80	94.83	108.31	109.62	112.24	111.09	101.34	96.32	99.75	97.70	103.24
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	74.64	71.36	63.59	38.37	33.55	27.92	19.81	31.65	29.32	19.25	25.25
Cash Conversion Cycle (CCC)	31.16	23.47	44.72	71.25	78.69	83.17	81.54	64.67	70.42	78.45	78.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	181	188	207	193	182	307	286	453	476	490	489
Invested Capital Turnover	0.92	0.69	0.89	1.14	1.54	1.44	1.44	1.42	1.27	1.35	1.43
Increase / (Decrease) in Invested Capital	181	6.93	19	-14	-11	125	-21	167	23	14	-0.61
Enterprise Value (EV)	0.00	1,313	1,623	2,112	2,652	7,522	6,034	4,362	4,041	3,840	3,446
Market Capitalization	0.00	1,417	1,734	2,238	2,869	7,637	6,073	4,021	3,826	3,797	3,289
Book Value per Share	$4.09	$5.68	$6.00	$5.84	$7.16	$7.37	$5.54	$1.87	$4.26	$7.15	$5.59
Tangible Book Value per Share	($1.40)	$0.93	$1.60	$1.78	$3.34	$1.22	($0.42)	($7.61)	($4.98)	($1.72)	($3.91)
Total Capital	196	293	319	326	790	850	1,484	1,528	1,681	1,376	1,268
Total Debt	30	2.01	2.01	2.01	386	415	1,131	1,392	1,390	893	896
Total Long-Term Debt	28	0.00	0.00	0.00	384	407	1,114	1,384	1,141	893	666
Net Debt	15	-103	-111	-131	-221	-128	-68	317	185	6.76	118
Capital Expenditures (CapEx)	12	4.99	8.63	12	9.69	17	23	30	28	27	35
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-39	-48	-56	-68	-89	-103	-157	-185	-190	-216	-218
Debt-free Net Working Capital (DFNWC)	-24	57	56	65	518	440	1,042	890	1,014	670	560
Net Working Capital (NWC)	-26	55	54	63	516	432	1,025	882	765	670	330
Net Nonoperating Expense (NNE)	0.37	10	12	7.89	13	25	74	-5.45	-45	-143	-13
Net Nonoperating Obligations (NNO)	15	-103	-111	-131	-221	-128	-68	317	185	6.76	118
Total Depreciation and Amortization (D&A)	15	17	20	21	28	43	83	39	22	36	38
Debt-free, Cash-free Net Working Capital to Revenue	-46.80%	-37.40%	-32.14%	-29.87%	-30.91%	-29.25%	-36.92%	-35.44%	-32.29%	-33.02%	-31.17%
Debt-free Net Working Capital to Revenue	-28.61%	44.81%	31.97%	28.33%	179.40%	125.01%	244.66%	170.14%	171.86%	102.58%	79.93%
Net Working Capital to Revenue	-31.02%	43.24%	30.83%	27.45%	178.70%	122.76%	240.80%	168.61%	129.62%	102.58%	47.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.92)	($0.73)	($0.52)	($0.59)	($0.83)	$0.00	($0.49)	$0.87	$2.59	$0.40
Adjusted Weighted Average Basic Shares Outstanding	0.00	51.28M	52.16M	53.91M	55.32M	56.83M	0.00	59.54M	60.85M	62.13M	61.43M
Adjusted Diluted Earnings per Share	$0.00	($0.92)	($0.73)	($0.52)	($0.59)	($0.83)	$0.00	($0.49)	$0.81	$1.45	$0.39
Adjusted Weighted Average Diluted Shares Outstanding	0.00	51.28M	52.16M	53.91M	55.32M	56.83M	0.00	59.54M	72.05M	73.50M	65.92M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.92)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	42.50M	53.20M	54.96M	56.30M	57.79M	0.00	60.05M	61.52M	62.81M	59.54M
Normalized Net Operating Profit after Tax (NOPAT)	-24	-16	-21	-21	-20	-14	-27	-37	25	14	23
Normalized NOPAT Margin	-29.15%	-12.67%	-12.12%	-9.17%	-6.76%	-3.96%	-6.35%	-7.01%	4.19%	2.17%	3.24%
Pre Tax Income Margin	-45.99%	-27.33%	-18.70%	-12.16%	-10.53%	-11.00%	-23.69%	-9.07%	10.26%	19.09%	6.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-10.96	-4.90	-2,607.62	-7,459.00	-3.23	-0.85	-0.61	-9.61	2.43	0.00	2.52
NOPAT to Interest Expense	-7.58	-2.73	-1,637.41	-5,221.30	-2.26	-0.60	-0.43	-6.72	2.37	0.00	1.42
EBIT Less CapEx to Interest Expense	-14.81	-5.74	-3,271.15	-10,448.75	-4.35	-1.59	-0.98	-14.77	-2.25	0.00	-0.90
NOPAT Less CapEx to Interest Expense	-11.43	-3.58	-2,300.95	-8,211.05	-3.38	-1.33	-0.80	-11.88	-2.30	0.00	-1.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.12%	-16.60%	-0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	864.16%

This table displays calculated financial ratios and metrics derived from BlackLine's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.53%	12.24%	11.27%	13.29%	11.02%	10.09%	8.82%	6.01%	7.18%	7.46%	8.10%
EBITDA Growth	1,872.42%	134.58%	65.75%	176.47%	-59.67%	382.99%	3.89%	92.55%	74.58%	-12.48%	-13.00%
EBIT Growth	241.18%	94.99%	290.94%	111.42%	-87.68%	878.68%	-51.49%	104.52%	241.71%	-9.02%	9.75%
NOPAT Growth	295.24%	91.58%	239.46%	115.40%	-87.97%	679.25%	153.60%	14.84%	96.93%	-32.42%	-88.18%
Net Income Growth	334.45%	170.95%	130.99%	319.43%	167.08%	8.14%	161.70%	-64.29%	-90.14%	-40.90%	-90.58%
EPS Growth	350.00%	155.88%	85.00%	185.00%	-51.11%	42.11%	113.51%	-41.18%	-40.91%	-66.67%	-91.14%
Operating Cash Flow Growth	315.63%	53.15%	63.74%	120.51%	65.77%	51.03%	3.85%	-7.30%	-20.52%	14.09%	-39.08%
Free Cash Flow Firm Growth	106.44%	81.13%	93.03%	389.73%	116.47%	227.07%	244.92%	-263.89%	-199.40%	-122.64%	-74.78%
Invested Capital Growth	0.89%	7.17%	5.14%	-2.08%	-5.49%	-7.31%	2.86%	4.49%	7.14%	3.27%	-0.12%
Revenue Q/Q Growth	4.02%	4.24%	3.33%	1.11%	1.93%	3.37%	2.14%	-1.49%	3.05%	3.64%	2.74%
EBITDA Q/Q Growth	347.16%	-82.84%	352.13%	-60.12%	30.34%	105.53%	-2.74%	-26.09%	18.17%	3.04%	-3.32%
EBIT Q/Q Growth	217.02%	-105.99%	1,293.20%	-86.36%	26.32%	278.76%	-25.66%	-42.50%	111.05%	0.85%	-10.33%
NOPAT Q/Q Growth	261.84%	-107.27%	1,041.80%	-86.11%	26.43%	250.17%	312.32%	-93.71%	116.80%	20.18%	-27.86%
Net Income Q/Q Growth	516.97%	-52.00%	80.02%	-39.10%	407.51%	-80.56%	335.63%	-91.69%	40.14%	16.51%	-30.54%
EPS Q/Q Growth	325.00%	-57.78%	94.74%	-54.05%	29.41%	22.73%	192.59%	-87.34%	30.00%	-30.77%	-22.22%
Operating Cash Flow Q/Q Growth	7.36%	50.81%	13.89%	19.58%	-19.29%	37.40%	-21.68%	6.73%	-30.80%	97.25%	-58.18%
Free Cash Flow Firm Q/Q Growth	432.71%	-353.04%	65.67%	200.24%	148.58%	48.53%	-60.85%	-213.36%	-50.77%	66.17%	143.63%
Invested Capital Q/Q Growth	2.14%	-0.41%	-0.36%	-3.40%	-1.41%	-2.32%	10.57%	-1.87%	1.09%	-5.84%	6.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	74.33%	75.59%	75.85%	75.17%	74.86%	75.22%	75.56%	75.48%	75.22%	75.10%	75.19%
EBITDA Margin	16.18%	2.66%	11.66%	4.60%	5.88%	11.69%	11.13%	8.35%	9.58%	9.52%	8.96%
Operating Margin	12.40%	-0.71%	8.23%	1.11%	1.38%	5.04%	3.67%	2.14%	4.39%	4.27%	3.72%
EBIT Margin	12.40%	-0.71%	8.23%	1.11%	1.38%	5.04%	3.67%	2.14%	4.39%	4.27%	3.72%
Profit (Net Income) Margin	19.41%	8.94%	15.57%	9.38%	46.70%	8.78%	37.45%	3.16%	4.30%	4.83%	3.27%
Tax Burden Percent	96.81%	117.49%	92.73%	94.44%	94.53%	87.40%	484.74%	53.03%	54.48%	64.92%	52.23%
Interest Burden Percent	161.79%	-1,067.69%	204.08%	894.68%	3,591.30%	199.33%	210.60%	278.18%	179.81%	174.32%	167.84%
Effective Tax Rate	3.19%	-17.49%	7.27%	5.56%	5.47%	12.60%	-384.74%	46.97%	45.52%	35.08%	47.77%
Return on Invested Capital (ROIC)	14.01%	-1.04%	9.69%	1.37%	1.74%	6.12%	24.05%	1.60%	3.43%	4.22%	2.78%
ROIC Less NNEP Spread (ROIC-NNEP)	17.30%	4.06%	14.61%	6.95%	40.80%	11.30%	58.75%	5.50%	8.37%	9.60%	6.66%
Return on Net Nonoperating Assets (RNNOA)	36.83%	6.78%	17.21%	7.11%	27.16%	4.94%	14.58%	1.24%	1.38%	1.72%	0.97%
Return on Equity (ROE)	50.84%	5.74%	26.90%	8.48%	28.90%	11.06%	38.63%	2.84%	4.81%	5.94%	3.75%
Cash Return on Invested Capital (CROIC)	-3.82%	-5.85%	-2.00%	8.72%	8.88%	12.68%	2.35%	1.37%	2.42%	6.19%	3.07%
Operating Return on Assets (OROA)	3.59%	-0.21%	2.40%	0.34%	0.44%	1.74%	1.22%	0.73%	1.61%	1.72%	1.46%
Return on Assets (ROA)	5.63%	2.64%	4.54%	2.84%	15.09%	3.03%	12.47%	1.08%	1.57%	1.95%	1.28%
Return on Common Equity (ROCE)	42.53%	4.87%	23.50%	7.32%	25.89%	10.07%	35.31%	2.58%	4.41%	5.41%	3.42%
Return on Equity Simple (ROE_SIMPLE)	7.28%	21.00%	0.00%	28.79%	39.12%	34.94%	0.00%	37.87%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	17	-1.26	12	1.65	2.09	7.31	30	1.90	4.11	4.94	3.56
NOPAT Margin	12.00%	-0.84%	7.63%	1.05%	1.30%	4.41%	17.78%	1.14%	2.39%	2.77%	1.95%
Net Nonoperating Expense Percent (NNEP)	-3.30%	-5.10%	-4.92%	-5.58%	-39.06%	-5.19%	-34.70%	-3.90%	-4.94%	-5.38%	-3.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-	0.72%	-	-	-	2.25%	0.14%	0.31%	0.40%	0.29%
Cost of Revenue to Revenue	25.67%	24.41%	24.15%	24.83%	25.14%	24.78%	24.44%	24.52%	24.78%	24.90%	24.81%
SG&A Expenses to Revenue	-0.10%	11.96%	15.85%	19.08%	19.35%	17.01%	19.17%	16.98%	16.36%	16.38%	18.04%
R&D to Revenue	18.54%	17.73%	14.50%	15.89%	16.02%	15.46%	14.51%	15.41%	16.26%	15.33%	15.38%
Operating Expenses to Revenue	61.93%	76.30%	67.62%	74.06%	73.49%	70.18%	71.89%	73.34%	70.84%	70.84%	71.46%
Earnings before Interest and Taxes (EBIT)	18	-1.07	13	1.75	2.21	8.36	6.22	3.58	7.55	7.61	6.82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	4.02	18	7.24	9.44	19	19	14	16	17	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	18.46	15.68	14.66	14.14	9.19	9.32	8.50	7.28	8.52	10.01	9.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.84	5.89	6.48	6.50	4.80	5.36	5.81	4.59	5.23	4.79	4.70
Price to Earnings (P/E)	321.50	80.41	72.41	52.29	24.65	27.03	23.56	19.45	40.10	43.21	134.15
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.31%	1.24%	1.38%	1.91%	4.06%	3.70%	4.25%	5.14%	2.49%	2.31%	0.75%
Enterprise Value to Invested Capital (EV/IC)	7.42	7.63	8.48	8.99	6.88	7.91	7.84	6.46	7.41	7.46	7.04
Enterprise Value to Revenue (EV/Rev)	6.38	6.35	6.85	6.80	5.00	5.48	5.88	4.68	5.34	4.97	4.92
Enterprise Value to EBITDA (EV/EBITDA)	268.20	126.13	111.95	78.35	80.40	64.62	69.91	50.37	52.44	51.56	54.02
Enterprise Value to EBIT (EV/EBIT)	0.00	757.62	281.65	131.72	198.95	139.39	207.16	152.45	140.10	136.92	134.86
Enterprise Value to NOPAT (EV/NOPAT)	0.00	738.91	288.57	134.48	206.91	149.38	153.98	114.63	82.29	80.57	238.62
Enterprise Value to Operating Cash Flow (EV/OCF)	36.56	33.08	31.92	26.83	18.34	18.52	20.12	16.59	20.14	18.30	20.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	102.02	75.36	60.01	338.65	482.13	316.41	122.46	228.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.93	5.73	4.78	4.43	3.19	2.24	1.85	1.97	1.99	2.44	2.41
Long-Term Debt to Equity	6.84	4.68	3.92	3.64	2.49	2.24	1.85	1.46	1.48	1.82	1.79
Financial Leverage	2.13	1.67	1.18	1.02	0.67	0.44	0.25	0.23	0.16	0.18	0.15
Leverage Ratio	12.60	11.25	9.48	8.74	6.90	5.79	5.07	5.04	4.57	4.45	4.19
Compound Leverage Factor	20.39	-120.13	19.34	78.24	247.72	11.54	10.68	14.03	8.21	7.75	7.04
Debt to Total Capital	87.38%	85.15%	82.69%	81.60%	76.12%	69.17%	64.88%	66.32%	66.57%	70.95%	70.69%
Short-Term Debt to Total Capital	1.03%	15.67%	14.83%	14.64%	16.67%	0.00%	0.00%	17.03%	17.09%	18.21%	18.15%
Long-Term Debt to Total Capital	86.36%	69.48%	67.86%	66.96%	59.45%	69.17%	64.88%	49.30%	49.48%	52.74%	52.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.64%	1.70%	1.79%	1.99%	2.14%	2.30%	2.65%	2.66%	2.61%	3.03%	3.09%
Common Equity to Total Capital	10.98%	13.15%	15.52%	16.41%	21.74%	28.53%	32.47%	31.02%	30.82%	26.02%	26.22%
Debt to EBITDA	105.77	48.32	38.50	26.35	29.37	16.45	16.25	14.50	13.03	13.51	14.05
Net Debt to EBITDA	20.90	8.11	5.14	2.77	2.47	0.84	0.12	0.44	0.54	1.37	1.85
Long-Term Debt to EBITDA	104.53	39.43	31.60	21.62	22.94	16.45	16.25	10.78	9.68	10.04	10.44
Debt to NOPAT	-99.92	283.09	99.24	45.22	75.59	38.02	35.80	32.99	20.44	21.12	62.05
Net Debt to NOPAT	-19.74	47.53	13.24	4.76	6.35	1.94	0.27	1.00	0.84	2.15	8.16
Long-Term Debt to NOPAT	-98.74	231.01	81.45	37.11	59.03	38.02	35.80	24.52	15.19	15.70	46.12
Altman Z-Score	1.80	1.69	1.86	1.95	1.79	2.34	2.47	2.00	2.21	2.10	2.04
Noncontrolling Interest Sharing Ratio	16.34%	15.14%	12.65%	13.71%	10.41%	8.96%	8.60%	9.08%	8.31%	8.88%	8.85%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.62	2.18	2.19	2.30	1.95	2.69	2.59	1.66	1.64	1.52	1.47
Quick Ratio	3.54	2.13	2.14	2.25	1.91	2.60	2.52	1.61	1.60	1.48	1.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	13	-33	-11	11	28	42	17	-19	-28	-9.56	4.17
Operating Cash Flow to CapEx	372.44%	659.18%	617.14%	747.15%	644.57%	859.23%	602.48%	331.08%	464.73%	939.20%	392.35%
Free Cash Flow to Firm to Interest Expense	8.94	-22.32	-7.69	7.79	0.00	15.78	6.55	-7.43	-11.16	-3.76	1.64
Operating Cash Flow to Interest Expense	16.70	24.87	28.42	34.33	0.00	20.89	17.36	18.53	12.77	25.07	10.47
Operating Cash Flow Less CapEx to Interest Expense	12.22	21.09	23.81	29.73	0.00	18.46	14.48	12.94	10.02	22.40	7.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.29	0.29	0.30	0.32	0.34	0.33	0.34	0.37	0.40	0.39
Accounts Receivable Turnover	4.45	4.80	3.66	4.95	4.67	4.79	3.74	4.87	4.32	4.70	3.54
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	30.30	31.97	34.03	38.00	43.36	49.34	48.93	48.49	52.61	58.04	55.82
Accounts Payable Turnover	12.33	27.58	12.45	49.15	30.83	36.23	18.96	59.40	24.42	23.57	14.46
Days Sales Outstanding (DSO)	81.97	76.04	99.75	73.79	78.11	76.18	97.70	74.95	84.56	77.63	103.24
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	29.61	13.23	29.32	7.43	11.84	10.08	19.25	6.14	14.95	15.48	25.25
Cash Conversion Cycle (CCC)	52.36	62.81	70.42	66.37	66.27	66.10	78.45	68.81	69.62	62.14	78.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	480	478	476	460	454	443	490	481	486	458	489
Invested Capital Turnover	1.17	1.24	1.27	1.31	1.34	1.39	1.35	1.41	1.44	1.52	1.43
Increase / (Decrease) in Invested Capital	4.21	32	23	-9.79	-26	-35	14	21	32	15	-0.61
Enterprise Value (EV)	3,559	3,645	4,041	4,137	3,123	3,504	3,840	3,104	3,601	3,416	3,446
Market Capitalization	3,255	3,383	3,826	3,957	2,995	3,428	3,797	3,041	3,529	3,286	3,289
Book Value per Share	$2.92	$3.54	$4.26	$4.54	$5.27	$5.92	$7.15	$6.65	$6.64	$5.30	$5.59
Tangible Book Value per Share	($6.36)	($5.81)	($4.98)	($4.57)	($3.77)	($3.02)	($1.72)	($2.12)	($2.16)	($3.53)	($3.91)
Total Capital	1,606	1,640	1,681	1,705	1,499	1,289	1,376	1,347	1,343	1,262	1,268
Total Debt	1,404	1,396	1,390	1,391	1,141	892	893	894	894	895	896
Total Long-Term Debt	1,387	1,140	1,141	1,142	891	892	893	664	665	665	666
Net Debt	277	234	185	146	96	46	6.76	27	37	91	118
Capital Expenditures (CapEx)	6.59	5.62	6.83	6.75	6.31	6.51	7.27	14	6.96	6.79	6.80
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-181	-192	-190	-202	-205	-210	-216	-224	-215	-237	-218
Debt-free Net Working Capital (DFNWC)	945	970	1,014	1,043	840	636	670	642	642	567	560
Net Working Capital (NWC)	929	713	765	794	591	636	670	413	412	337	330
Net Nonoperating Expense (NNE)	-11	-15	-12	-13	-73	-7.26	-33	-3.38	-3.28	-3.67	-2.42
Net Nonoperating Obligations (NNO)	277	234	185	146	96	46	6.76	27	37	91	118
Total Depreciation and Amortization (D&A)	5.48	5.09	5.34	5.49	7.23	11	13	10	8.93	9.36	9.59
Debt-free, Cash-free Net Working Capital to Revenue	-32.46%	-33.40%	-32.29%	-33.12%	-32.78%	-32.89%	-33.02%	-33.80%	-31.95%	-34.58%	-31.17%
Debt-free Net Working Capital to Revenue	169.46%	168.96%	171.86%	171.47%	134.60%	99.42%	102.58%	96.93%	95.20%	82.53%	79.93%
Net Working Capital to Revenue	166.50%	124.22%	129.62%	130.46%	94.58%	99.42%	102.58%	62.32%	61.15%	49.06%	47.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.51	$0.20	$0.36	$0.18	$1.24	$0.28	$0.89	$0.10	$0.13	$0.09	$0.08
Adjusted Weighted Average Basic Shares Outstanding	60.70M	61.10M	60.85M	61.64M	61.98M	62.25M	62.13M	62.82M	62.14M	61.16M	61.43M
Adjusted Diluted Earnings per Share	$0.45	$0.19	$0.37	$0.17	$0.22	$0.27	$0.79	$0.10	$0.13	$0.09	$0.07
Adjusted Weighted Average Diluted Shares Outstanding	71.80M	72.10M	72.05M	72.89M	72.52M	73.97M	73.50M	64.84M	64.00M	63.20M	65.92M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.98M	61.27M	61.52M	61.82M	62.18M	62.49M	62.81M	62.32M	61.89M	59.49M	59.54M
Normalized Net Operating Profit after Tax (NOPAT)	17	5.31	13	2.07	2.96	7.62	4.35	4.71	4.68	6.41	6.71
Normalized NOPAT Margin	12.09%	3.53%	8.32%	1.31%	1.85%	4.59%	2.56%	2.82%	2.72%	3.60%	3.66%
Pre Tax Income Margin	20.05%	7.61%	16.79%	9.93%	49.40%	10.05%	7.73%	5.96%	7.89%	7.44%	6.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.19	-0.72	8.64	1.19	0.00	3.12	2.46	1.42	2.98	2.99	2.68
NOPAT to Interest Expense	11.80	-0.85	8.01	1.12	0.00	2.73	11.94	0.75	1.62	1.94	1.40
EBIT Less CapEx to Interest Expense	7.71	-4.49	4.03	-3.40	0.00	0.69	-0.42	-4.18	0.23	0.32	0.01
NOPAT Less CapEx to Interest Expense	7.32	-4.62	3.40	-3.47	0.00	0.30	9.06	-4.85	-1.13	-0.73	-1.27
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	864.16%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, trend-focused recap of BlackLine (BL) using the company’s quarterly data from the last four years. The emphasis is on revenue, profitability, cash flow, and balance-sheet dynamics to help retail investors gauge the trajectory and financial health of the business.

Operating revenue in Q4 2025 was $183.181 million, up about 8% year over year from Q4 2024 ($169.46 million), signaling solid top-line growth into 2025.
In 2025, BlackLine showed consistent quarterly revenue growth: Q1 2025 $166.931m, Q2 2025 $172.025m, Q3 2025 $178.29m, Q4 2025 $183.181m.
Operating cash flow remained positive across all four quarters of 2025, with net cash from continuing operating activities: Q1 $46.712m, Q2 $32.375m, Q3 $63.778m, Q4 $26.71m.
Liquidity appeared solid in mid-2025. For example, in Q3 2025 total current assets were about $983.8 million and total current liabilities about $646.9 million, implying a current ratio near 1.5x.
Gross profit remained robust (Q4 2025 gross profit $137.731 million on revenue $183.181 million), with a margin in the mid-70s percent range and little sign of a dramatic margin shift versus prior year levels.
Non-cash adjustments to reconcile net income were sizable in multiple quarters (e.g., Q4 2025: $27.693 million; Q3 2025: $24.971 million), indicating meaningful accrual-related items that don’t translate to cash.
Net income attributed to common shareholders declined sharply in Q4 2025 to $4.887 million from $56.417 million in Q4 2024, largely due to the absence of a large 2024 tax benefit and higher expenses.
Cash and cash equivalents declined year over year, falling from about $630.1 million at the end of 2024 to roughly $420 million by late 2025, signaling a reduction in cash liquidity despite ongoing cash flow generation.
Investing activities in 2025 were a notable cash outflow, including large purchases of investments (and related equity repurchases in certain quarters), which weighed on annual cash position even as operating cash flow remained positive.

05/06/26 05:44 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About BlackLine's Financials

When does BlackLine's financial year end?

According to the most recent income statement we have on file, BlackLine's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has BlackLine's net income changed over the last 10 years?

BlackLine's net income appears to be on a downward trend, with a most recent value of $27.26 million in 2025, falling from -$24.73 million in 2015. The previous period was $167.77 million in 2024. Check out BlackLine's forecast to explore projected trends and price targets.

What is BlackLine's operating income?

BlackLine's total operating income in 2025 was $25.55 million, based on the following breakdown:

Total Gross Profit: $527.04 million
Total Operating Expenses: $501.49 million

How has BlackLine's revenue changed over the last 10 years?

Over the last 10 years, BlackLine's total revenue changed from $83.61 million in 2015 to $700.43 million in 2025, a change of 737.8%.

How much debt does BlackLine have?

BlackLine's total liabilities were at $1.39 billion at the end of 2025, a 3.4% increase from 2024, and a 1,051.1% increase since 2015.

How much cash does BlackLine have?

In the past 10 years, BlackLine's cash and equivalents has ranged from $15.21 million in 2015 to $885.92 million in 2024, and is currently $390.03 million as of their latest financial filing in 2025.

How has BlackLine's book value per share changed over the last 10 years?

Over the last 10 years, BlackLine's book value per share changed from 4.09 in 2015 to 5.59 in 2025, a change of 36.4%.

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Financial statements for NASDAQ:BL last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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BlackLine (BL) Financials

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