Business
BlackLine Announces Fourth Quarter and Full Year Financial Results
LOS ANGELES, Feb. 14, 2023 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL), today announced financial results for the fourth quarter and full year ended
About this update from Blackline, Inc.
[{"type":"text","content":"LOS ANGELES, Feb. 14, 2023 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL), today announced financial results for the fourth quarter and full year ended December 31, 2022. \"BlackLine reported solid financial results this quarter, as we continued to deliver against our goal of driving profitable growth,\" said Marc Huffman, CEO of BlackLine. \"Further, we recently announced innovative new solutions and expanded programs to support our customers as they continue on their digital transformation journeys. As we look ahead, we remain confident in our long-term strategy, market leadership and competitive positioning.\" Fourth Quarter 2022 Financial Highlights Total GAAP revenues of $140.0 million, an increase of 21% compared to the fourth quarter of 2021.GAAP net income attributable to BlackLine of $11.3 million, or $0.18 per diluted share.Non-GAAP net income attributable to BlackLine of $25.5 million, or $0.35 per diluted share.Operating cash flow of $25.8 million, an increase of 16% compared to the fourth quarter of 2021.Free cash flow of $20.3 million, an increase of 32% compared to the fourth quarter of 2021. Full Year 2022 Financial Highlights Total GAAP revenues of $522.9 million, an increase of 23% from 2021.GAAP net loss attributable to BlackLine of $29.4 million, or $0.49 per basic and diluted share.Non-GAAP net income attributable to BlackLine of $46.2 million, or $0.64 per diluted share.Operating cash flow of $56.0 million, a decrease of 30% from 2021.Free cash flow of $25.7 million, a decrease of 54% from 2021. Fourth Quarter Key Metrics and Recent Business Highlights Added 128 net new customers in the fourth quarter for a total of 4,188 customers at December 31, 2022.Expanded the company’s user base to 366,522 at December 31, 2022.Achieved a dollar-based net revenue retention rate of 107% at December 31, 2022.Hosted BlackLine's 15th annual customer conference, BeyondTheBlack, unveiling new innovation including: Financial Reporting Analytics, BlackLine Accounting Studio, and a Microsoft Dynamics 365 connector, while expanding BlackLine's Modern Accounting Playbook to Cash Application.Named to the first annual TrustRadius Best Software list. The financial results included in this press release are preliminary and pending final review. Financial results will not be final until BlackLine files its Annual Report on Form 10-K...