BlackLine Announces Fourth Quarter and Full Year 2023 Financial Results

About this update from Blackline, Inc.

[{"type":"text","content":"LOS ANGELES, Feb. 13, 2024 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL), today announced financial results for the fourth quarter and full year ended December 31, 2023. \"BlackLine closed the year with solid results, surpassing our expectations for both revenue and profitability, highlighting the powerful operating leverage embedded in our model,\" said Owen Ryan, co-CEO of BlackLine. \"Further, we aligned to a new operating model that directly supports our strategy of leading with solutions and harnessing the power of our partner ecosystem to solve real business problems for our customers.\" \"Customer-centric innovation has consistently been at the core of our culture, our strategy, and our success at BlackLine. It serves as the catalyst for inspiring, powering, and guiding digital finance transformation for our customers,\" said Therese Tucker, co-CEO of BlackLine. \"As we look ahead, our teams are committed to executing and showcasing why BlackLine stands as a market leader and the ideal partner for the Office of the CFO.\" Fourth Quarter 2023 Financial Highlights Total GAAP revenues of $155.7 million, an increase of 11% compared to the fourth quarter of 2022.GAAP operating margin of 8.2%, compared to 2.3% in the fourth quarter of 2022.Non-GAAP operating margin of 24.8%, compared to 12.8% in the fourth quarter of 2022.GAAP net income attributable to BlackLine of $22.1 million, or $0.32 per diluted share, compared to GAAP net income attributable to BlackLine of $11.3 million, or $0.18 per diluted share, in the fourth quarter of 2022.Non-GAAP net income attributable to BlackLine of $51.5 million, or $0.69 per diluted share, compared to non-GAAP net income attributable to BlackLine of $25.5 million, or $0.35 per diluted share, in the fourth quarter of 2022.Operating cash flow of $42.2 million, compared to $25.8 million in the fourth quarter of 2022.Free cash flow of $35.3 million, compared to $20.3 million in the fourth quarter of 2022. Full Year 2023 Financial Highlights Total GAAP revenues of $590.0 million, an increase of 13% from 2022.GAAP operating margin of 2.4%, compared to (10.7)% in 2022.Non-GAAP operating margin of 16.5%, compared to 6.1% in 2022.GAAP net income attributable to BlackLine of $52.8 million, or $0.81 per diluted share, compared to GAAP net loss attributable to BlackLine of $29.4 million, or $(0.49) p...

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