Business
BlackLine Announces Second Quarter Financial Results
LOS ANGELES, Aug. 06, 2024 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL), today announced financial results for the second quarter ended June 30, 2024.
About this update from Blackline, Inc.
[{"type":"text","content":"LOS ANGELES, Aug. 06, 2024 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL), today announced financial results for the second quarter ended June 30, 2024. “BlackLine delivered solid results this quarter, exceeding our revenue and profitability expectations, while continuing to generate robust free cash flow,” said Owen Ryan, co-CEO of BlackLine. “Our teams are relentlessly pursuing higher levels of operational excellence, aligned to our strategy and driven by our customer-focused operating model.” “Our commitment to delivering value for the Office of the CFO is unwavering,” said Therese Tucker, co-CEO of BlackLine. “By developing and offering increasingly advanced solutions and capabilities, including those powered by AI, we are committed to solving the complex problems our customers face today. At the same time, we are equipping them with the tools and insights needed to solve tomorrow’s challenges, ensuring they are well-prepared for future growth and success.” Second Quarter 2024 Financial Highlights Total GAAP revenues of $160.5 million, an increase of 11% compared to the second quarter of 2023.GAAP operating margin of 1.4%, compared to 12.4%1 in the second quarter of 2023.Non-GAAP operating margin of 19.8%, compared to 13.4% in the second quarter of 2023.GAAP net income attributable to BlackLine of $76.7 million, or $0.222 per diluted share compared to GAAP net income attributable to BlackLine of $30.8 million or $0.45 per diluted share in the second quarter of 2023.Non-GAAP net income attributable to BlackLine of $42.9 million or $0.58 per diluted share compared to non-GAAP net income attributable to BlackLine of $30.7 million or $0.41 per diluted share in the second quarter of 2023.Operating cash flow of $40.7 million, compared to $24.6 million in the second quarter of 2023.Free cash flow of $34.4 million, compared to $18.0 million in the second quarter of 2023. Second Quarter Key Metrics and Recent Business Highlights Added 24 net new customers in the second quarter for a total of 4,435 customers at June 30, 2024.Expanded the Company’s user base to 396,366 users at June 30, 2024.Achieved a dollar-based net revenue retention rate of 104% at June 30, 2024.Repaid in full, the Company’s $250.0 million 2024 convertible senior notes.Announced that Financial Reporting Analytics will be sold as an SAP Solution Extension.Named as...