Slide 1: Investor Presentation First Quarter 2025
Investor Presentation First Quarter 2025 May 6th, 2025
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements. These statements may relate to, but are not limited to, expectations of future operating results or financial performance of BlackLine, Inc. (“BlackLine” or the “Company”), the calculation of certain key financial and operating metri
Slide 3: Who We Are: Champions of strategic accounting and finance transformation
WHO WE ARE Market Leader Champions of strategic accounting with Large & Underpenetrated $45B TAM and finance transformation O UR W I N N I NG A SP I RAT ION To inspire, power, and guide Durable Compelling digital finance transformation Land & Expand Model Business Model with Investment in Profitable
Slide 4: BlackLine At a Glance
BlackLine At a Glance Indispensable Platform for the CFO End-to-End Record-to-Report and Invoice-to-Cash Automation $45B AI-Powered Innovation Total Market Opportunity BlackLine’s data unification and analytics capabilities make it an $656M 8% YoY Growth ideal platform for building a trusted AI foun
Slide 5: The Office of the CFO
The Office of the CFO External Reporting Financial Planning Invoice-to-Cash Intercompany Internal Reporting Tax Mgmt. Treasury Mgmt. Financial Close Consolidation Financial Data By being positioned upstream within the Office of the CFO, BlackLine is uniquely able to ensure comprehensive control, enh
Slide 6: Market Leader with Large & Underpenetrated TAM
Market Leader with Large & Underpenetrated TAM BlackLine’s core finance and accounting process area – Record-to-Report and Invoice-to-Cash – constitute a large, underpenetrated, and strategic addressable market. Record-to-Report Invoice-to-Cash $34B $11B $45B Total Addressable Market Comprised of ov
Slide 7: The Future-Ready Platform for the Office of the CFO
The Future-Ready Platform for the Office of the CFO AI-powered solutions enable future-ready financial operations that are accurate, efficient, and intelligent. Finance &PAccounting R O C E S S E SProcesses Deep Process Automation Compliance & Internal Invoice-to-Cash Intercompany Financial Close Co
Slide 8: Studio360: Accurate. Efficient. Intelligent.
Studio 360: Accurate. Efficient. Intelligent. PRODUCTS OUTCOMES P L AT F O R M DATA S O U RC E S Identify Risks & Anomalies Studio360 Control ERPs Centralized management of financial hierarchies, policies & certifications • Journal Entry Fixed Assets Intercompany Create • Automate Studio360 Integrat
Slide 9: Bringing Autonomous Finance to Customers
Bringing Autonomous Finance to Customers BlackLine’s AI strategy combines AI and automation to unlock unprecedented value for finance and accounting teams, delivering accurate, efficient, and intelligent financial operations. Agentic AI Experiences Machine Learning Experiences Insight Agents Summari
Slide 10: Numerous Levers to Drive Sustained Growth
Numerous Levers to Drive Sustained Growth New Customers Partner Ecosystem Lead new customers on their accounting Deepen and extend partner relationships and finance transformations Platform & Packaging New Markets Simplified and standardized Entering the Public Sector space and packaging with unlimi
Slide 11: Ideal Candidates for Digital Finance Transformation
Ideal Candidates for Digital Finance Transformation We have carefully defined our target markets and are targeting complex global enterprises and expanding our reach beyond smaller mid-market segments. We see robust new logo and expansion opportunities across our global enterprise and mid-market seg
Slide 12: Transforming the World's Largest Companies
Transforming the World’s Largest Companies We are focused on deepening and expanding our relationships with the world's largest and most complex organizations. 70%+ DOWJ 20%+ 60%+ 35 %+ Nikkei 225 40%+ Fortune 500 FSTE 100 CAC 40 60%+ 40%+ 30% + DAX 40 ASX 100 NASDAQ (Enterprise) PRIORITY OPPORTUNIT
Slide 13: Blue Chip, Industry Agnostic Customer Base
Blue Chip, Industry Agnostic Customer Base INDUSTRY BREADTH INDUSTRY DEPTH 8 5 8 1 7 of the of the of the of the of the Top 10 Top 10 Top 10 Top 10 Top 10 EXAMPLE: HEALTHCARE & LIFE SCIENCES MANUFACTURING RETAIL ENERGY FINANCIAL SERVICES HEALTHCARE & LIFE SCIENCES PHARMA & MEDTECH BIOTECH 4 5 3 6 of
Slide 14: Continuously Growing Our Customer Wallet Share
Continuously Growing Our Customer Wallet Share 616 customers with an ARR1 of $250k+ 79 56% 71 $1M+ 64 48 36 CAGR in customers spending $1M or more 27 21% $250k+ 14 532 537 7 485 429 6 367 295 2 251 CAGR in customers 203 spending $250k-$1M 162 112 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1'25 14
Slide 15: Proven Ability to Land and Expand
Proven Ability to Land and Expand Growth Annualized Revenue by Customer Cohort1 Cohort Multiple 2024 1.1x 2023 1.3x 2022 1.2x 2021 1.2x 2020 1.2x 2019 1.3x 2018 1.5x 2017 1.7x 2016 1.9x 2015 2.2x 2014 2.5x 2013 4.3x 2012 4.9x 1 Reflects annualized subscription and support revenue for the group of cu
Slide 16: Financial Overview
Financial Overview First Quarter 2025
Slide 17: Q1 2025 By the Numbers
Q1 2025 By the Numbers $$ $167M 6% YoY $656M 8% YoY $913M 11% YoY 104% Total Revenue Annual Recurring Revenue1 Total RPO Net Revenue Retention 80% 21% $35M Op Inc. 22% $36M Net Inc. 20% $33M FCF Gross Margin2 Operating Income Margin2 Net Income2 Free Cash Flow Margin 1 BlackLine defines ARR as: con
Slide 18: Visible Subscription Growth Model
Visible Subscription Growth Model Total Revenue Subscription & Support Revenue $M $M $619 $628 $653 $663 $556 9%1 $491 YoY 9%1 Growth $590 YoY $399 Growth $523 $426 2021 2022 2023 2024 LTM Q1'25 Services Revenue $M $34 $35 $34 $32 $27 2%1 YoY Growth 2021 2022 2023 2024 LTM Q1'25 2021 2022 2023 2024
Slide 19: Demonstrated Profitability
Demonstrated Profitability Non-GAAP Operating Income Margin1 Non-GAAP Net Income Margin1 25% 25% 22% 21% 19% 17% 9% 9% 9% 6% 2021 2022 2023 2024 Q1'25 2021 2022 2023 2024 Q1'25 1 See appendix for GAAP financial measures and reconciliations. 19
Slide 20: Sustained Cash Flow Generation
Sustained Cash Flow Generation Free Cash Flow Margin Free Cash Flow $M $164 25% $153 19%1 YoY Growth 20% 17% $99 13% $56 5% $26 2021 2022 2023 2024 Q1'25 2021 2022 2023 2024 LTM Q1'25 Note: Free cash flow defined as cash flows from operating activities less capex. 20 1 LTM growth as of March 31, 202
Slide 21: Target Model Framework
Target Model Framework Target Model 2021 2022 2023 2024 Target Model Comments GTM execution, strategic solutions, partnership Total Revenue Growth 21% 23% 13% 11% 13%-16% strategy, industry strategy, pricing, platform/product innovation, public sector GCP migration completion, Cloud Gross Margin1 80
Slide 22: Appendix
Appendix
Slide 23: Non-GAAP Reconciliations, Non-GAAP Gross Profit and Free Cash Flow
NON-GAAP RECONCILIATIONS, NON-GAAP GROSS PROFIT AND FREE CASH FLOW ($ IN 000’S) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 2020 2021 2022 2023 2024 Non-GAAP Revenues GAAP revenues $138,984 $144,574 $150,708 $155,730 $157,461 $160,506 $165,909 $169,460 $166,931 $351,737 $
Slide 24: Non-GAAP Reconciliations, Non-GAAP Operating Income and Net Income
NON-GAAP RECONCILIATIONS, NON-GAAP OPERATING INCOME AND NON-GAAP NET INCOME ($000’S) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 2020 2021 2022 2023 2024 Non-GAAP Income from Operations GAAP income (loss) from operations ($15,313) $17,920 ($1,074) $12,815 $1,748 $2,208 $8
Slide 25: Non-GAAP Reconciliations, Non-GAAP S&M, R&D, G&A
NON-GAAP RECONCILIATIONS, NON-GAAP S&M, NON-GAAP R&D, NON-GAAP G&A ($000’S) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 2020 2021 2022 2023 2024 GAAP Sales and Marketing Expense $61,931 $62,749 $61,576 $56,898 $61,111 $60,248 $62,219 $64,769 $63,063 $174,581 $202,620 $256
Slide 26: blackline.com
blackline.com go.blackline.com/linkedin go.blackline.com/youtube