{"success":true,"data":{"pressRelease":{"id":"108563","rtpr_id":"nGNX5W8TD9","ticker":"BL","exchange":"NASDAQ","all_tickers":["BL"],"title":"BlackLine Announces Second Quarter Financial Results","author":"Globe Newswire","published_at":"2026-08-04T20:05:02.651Z","article_body":"LOS ANGELES, Aug. 04, 2026 (GLOBE NEWSWIRE) -- BlackLine, Inc\n(https://www.globenewswire.com/Tracker?data=8sE40aXeEFtqV8sKtTBL3t7oFl57Xed5X4Mo4acLv9Tal5ShoO49x-lk6rHgrjt7bRqVoxqh7bh-cOqDmFHUNViIycUOfY2rKqFbLFBDNgU=).\n(Nasdaq: BL), today announced financial results for the second quarter ended\nJune 30, 2026.\n\n“I believe the first half of 2026 will prove to be the most consequential\nperiod in BlackLine's history,” said Owen Ryan, CEO of BlackLine. “AI is\nreshaping the Office of the CFO, and we are meeting that moment. Our platform\nstrategy is maturing and adoption of our Verity agents is accelerating across\nour base. That usage is now monetizing on two fronts, driving conversion to\nour platform and starting to generate direct revenue from our Verity agentic\nofferings.” \n\n“The world's most sophisticated enterprises are deepening their commitments\nto BlackLine,” Ryan continued. “Deal timing was noisy this quarter as\ncustomers work through more rigorous, AI-driven evaluations, but the demand\nbehind those opportunities is strong and durable, and we are more confident\nthan ever in the growing momentum across our business.”\n\nSecond Quarter 2026 Financial Highlights\n* Total GAAP revenues of $187.8 million, an increase of 9.2% compared to the\nsecond quarter of 2025.\n* GAAP operating margin of 5.9%, compared to 4.4% in the second quarter of\n2025.\n* Non-GAAP operating margin of 23.3%, compared to 22.1% in the second quarter\nof 2025.\n* GAAP net income attributable to BlackLine of $16.5 million, or $0.27 per\ndiluted share compared to GAAP net income attributable to BlackLine of $8.3\nmillion, or $0.13 per diluted share in the second quarter of 2025.\n* Non-GAAP net income attributable to BlackLine of $42.9 million, or $0.61 per\ndiluted share compared to non-GAAP net income attributable to BlackLine of\n$37.9 million, or $0.51 per diluted share in the second quarter of 2025.\n* Billings of $193.0 million, an increase of 5.9% compared to the second\nquarter of 2025.\n* Remaining performance obligation of $1.1 billion, an increase of 16.8%\ncompared to the second quarter of 2025.\n* Operating cash flow of $45.0 million, compared to $32.3 million in the\nsecond quarter of 2025.\n* Free cash flow of $36.5 million, compared to $25.4 million in the second\nquarter of 2025.\n* Repurchased approximately 1.2 million shares of common stock for $37.7\nmillion as part of our share repurchase program under which approximately\n$179.7 million of buyback capacity remained at June 30, 2026.\nSecond Quarter Key Metrics and Recent Business Highlights\n* BlackLine had a total of 4,260 customers at June 30, 2026.\n* Platform pricing Annual Recurring Revenue (ARR) as a percentage of eligible\nARR, which excludes SolEx and public sector ARR, was 17% at June 30, 2026.\n* Achieved a dollar-based net revenue retention rate of 102% at June 30,\n2026.\n* Announced a $100 million increase to the Company’s stock buyback program.\n* Verity Prepare, BlackLine’s agentic reconciliations agent, achieved\ngeneral availability in July.\n* Announced the expansion of BlackLine’s Agentic Financial Operations\nPlatform via the Finance Control Console.\n* Earned industry recognition for AI innovation and customer trust from Tech\nAscension Awards and TrustRadius.\n* Hosted BeyondTheBlack Paris, BlackLine’s France and EMEA region customer\nconference.\nThe financial results included in this press release are preliminary and\nsubject to final review. Financial results will not be final until BlackLine\nfiles its Quarterly Report on Form 10-Q for the period. Information about\nBlackLine’s use of non-GAAP financial measures is provided below under\n“Use of Non-GAAP Financial Measures.”\n\nFinancial Outlook\n\nThird Quarter 2026\n* Total GAAP revenue is expected to be in the range of $193 million to $195\nmillion.\n* Non-GAAP operating margin is expected to be in the range of 24.5% to 25.5%.\n* Non-GAAP net income attributable to BlackLine is expected to be in the range\nof $45 million to $47 million, or $0.62 to $0.65 per share on 74.5 million\ndiluted weighted average shares outstanding.\nFull Year 2026\n* Total GAAP revenue is expected to be in the range of $765 million to $769\nmillion.\n* Non-GAAP operating margin is expected to be in the range of 24.1% to 24.6%.\n* Non-GAAP net income attributable to BlackLine is expected to be in the range\nof $177 million to $182 million, or $2.47 to $2.54 per share on 74.0 million\ndiluted weighted average shares outstanding.\nGuidance for non-GAAP operating margin, non-GAAP net income attributable to\nBlackLine, and non-GAAP net income per share attributable to BlackLine\nexcludes specified items from the corresponding GAAP financial measures as\noutlined below under “Use of Non-GAAP Financial Measures” and as detailed\nin the reconciliations of non-GAAP measures for historical periods.\nReconciliations of non-GAAP operating margin, non-GAAP net income attributable\nto BlackLine, and non-GAAP net income per share attributable to BlackLine\nguidance to the most directly comparable U.S. GAAP measures are not available\non a forward-looking basis without unreasonable efforts due to the\nunpredictability and complexity of the charges excluded from these non-GAAP\nfinancial measures. The Company expects the variability of the above items\ncould have a significant, and potentially unpredictable, impact on its future\nGAAP operating margin, net income attributable to BlackLine, and net income\nper share attributable to BlackLine.\n\nQuarterly Conference Call\n\nBlackLine will hold a conference call to discuss its second quarter results at\n2:00 p.m. Pacific time on Tuesday, August 4, 2026. A live audio webcast will\nbe accessible on BlackLine’s investor relations website at\nhttps://investors.blackline.com. Participants can preregister for the\nconference call. A replay of the webcast will be available at\nhttps://investors.blackline.com for 12 months. BlackLine has used, and intends\nto continue to use, its Investor Relations website as a means of disclosing\nmaterial non-public information and for complying with its disclosure\nobligations under Regulation FD.\n\nAbout BlackLine\n\nBlackLine (Nasdaq: BL), is the trust infrastructure for the AI era of finance:\na future where finance drives the agentic era with intelligence, integrity,\nand trust rising together. The BlackLine Agentic Financial Operations\nPlatform™, powered by Studio360 and Verity™ AI, is where the Office of the\nCFO scales AI across Record-to-Report, Invoice-to-Cash, and the processes\nwhere finance owns the controls and demands integrity at every step.\n\nBy unifying data, embedding AI, and engineering trust into every action,\nBlackLine moves finance and accounting beyond reporting on the business to\norchestrating it in real time.\n\nSupported by industry-leading R&D investment and world-class security\npractices, approximately 4,300 customers across multiple industries partner\nwith BlackLine to lead their organizations into the future.\n\nFor more information, please visit blackline.com\n(https://www.globenewswire.com/Tracker?data=WT_smAxpr8dloqGwlYYC07lReLgfonhRLr3j1JlAfvQFAVE4aRYN1kenWdhJhavNliAas1T4_cVVHj1uGbTCnyO5HWEvUSHpxs7Nrahygog=).\n\nForward-looking Statements\n\nThis release and the conference call referenced above contain forward-looking\nstatements within the meaning of the Private Securities Litigation Reform Act\nof 1995. In some cases, you can identify forward-looking statements by\nterminology such as “may,” “will,” “should,” “could,”\n“expect,” “plan,” “anticipate,” “believe,” “estimate,”\n“predict,” “intend,” “potential,” “would,” “continue,”\n“ongoing,” or the negative of these terms or other comparable terminology.\nForward-looking statements in this release and quarterly conference call\ninclude, but are not limited to, statements regarding BlackLine’s future\nfinancial and operational performance, including, without limitation, GAAP and\nnon-GAAP guidance for the third quarter and full year of 2026, the impact of\nprogress against certain key initiatives, our expectations for our business,\nincluding the demand environment, BlackLine’s addressable market, market\nposition and pipeline, our international growth, and our relationships with\nour customers and partners, including opportunities to expand those\nrelationships.\n\nAny forward-looking statements contained in this press release or the\nquarterly conference call are based upon BlackLine’s historical performance\nand its current plans, estimates and expectations, and are not a\nrepresentation that such plans, estimates, or expectations will be achieved.\nForward-looking statements are based on information available at the time\nthose statements are made and/or management’s good-faith beliefs and\nassumptions as of that time with respect to future events, and are subject to\nrisks and uncertainties. If any of these risks or uncertainties materialize or\nif any assumptions prove incorrect, actual performance or results may differ\nmaterially from those expressed in or suggested by the forward-looking\nstatements. These risks and uncertainties include, but are not limited to,\nrisks related to the Company’s ability to attract new customers and expand\nsales to existing customers; the extent to which customers renew their\nsubscription agreements or increase the number of users; the impact of current\nand future economic uncertainty and other unfavorable conditions in the\nCompany's industry or the global economy; the Company’s ability to manage\ngrowth and scale effectively, including entry into new geographies; the\nCompany’s ability to provide successful enhancements, new features and\nmodifications to its software solutions; the Company’s ability to develop\nnew products and software solutions and the success of any new product and\nservice introductions; the Company’s ability to effectively incorporate\nartificial intelligence and machine learning technologies (AI/ML) into its\nplatform and business and the potential reputational harm or legal liability\nthat may result from the use of AI/ML solutions and features; the success of\nthe Company’s strategic relationships with technology vendors and business\nprocess outsourcers, channel partners and alliance partners; a disruption in\nthe Company’s hosting network infrastructure; costs and reputational harm\nthat could result from defects in the Company’s solutions; the loss of any\nkey employees; continued strong demand for the Company’s software in the\nUnited States, Europe, Asia Pacific, and Latin America; the Company’s\nability to compete as the financial close management provider for\norganizations; the timing and success of solutions offered by competitors\nincluding competitors' ability to incorporate AI/ML into products and\nofferings more quickly or successfully; changes in the proportion of the\nCompany’s customer base that is comprised of enterprise or mid-sized\norganizations; the Company’s ability to expand and effectively manage its\nsales teams and their performance and productivity; fluctuations in our\nfinancial results due to long and increasingly variable sales cycles; failure\nto protect the Company’s intellectual property; the Company’s ability to\nintegrate acquired businesses and technologies successfully or achieve the\nexpected benefits of such transactions; unpredictable and uncertain macro and\nregional economic conditions; seasonality; changes in current tax or\naccounting rules; cyber attacks or any breaches of the Company’s security\nmeasures and the risk that the Company’s security measures may not be\nsufficient to secure its customer or confidential data adequately; acts of\nterrorism or other vandalism, war, or natural disasters including the effects\nof climate change; the impact of any determination of deficiencies or\nweaknesses in our internal controls and processes; and other risks and\nuncertainties described in the other filings we make with the Securities and\nExchange Commission from time to time, including the risks described under the\nheading “Risk Factors” in our Annual Report on Form 10-K for the year\nended December 31, 2025 filed with the Securities and Exchange Commission on\nFebruary 26, 2026. Additional information will also be set forth in our\nQuarterly Report on Form 10-Q for the quarter ended June 30, 2026.\nForward-looking statements should not be read as a guarantee of future\nperformance or results, and you should not place undue reliance on such\nstatements. Except as required by law, we do not undertake any obligation to\npublicly update or revise any forward-looking statement, whether as a result\nof new information, future developments or otherwise. All of the information\nin this press release is subject to completion of our quarterly review\nprocess.\n\nUse of Non-GAAP Financial Measures\n\nTo supplement its consolidated financial statements, which are prepared and\npresented in accordance with U.S. generally accepted accounting principles, or\nGAAP, BlackLine has provided in this release and the quarterly conference call\nheld on August 4, 2026, certain financial measures that have not been\nprepared in accordance with GAAP defined as “non-GAAP financial measures,”\nwhich include (i) non-GAAP gross profit and non-GAAP gross margin, (ii)\nnon-GAAP operating expenses, (iii) non-GAAP operating income and non-GAAP\noperating margin, (iv) non-GAAP net income attributable to BlackLine, Inc.,\n(v) diluted non-GAAP net income per share attributable to BlackLine, Inc., and\n(vi) free cash flow.\n\nBlackLine’s management uses these non-GAAP financial measures internally in\nanalyzing its financial results and believes they are useful to investors, as\na supplement to the corresponding GAAP measures, in evaluating BlackLine’s\nongoing operational performance and trends and in comparing its financial\nmeasures with other companies in the same industry, many of which present\nsimilar non-GAAP financial measures to help investors understand the\noperational performance of their businesses. However, it is important to note\nthat the particular items BlackLine excludes from, or includes in, its\nnon-GAAP financial measures may differ from the items excluded from, or\nincluded in, similar non-GAAP financial measures used by other companies in\nthe same industry. Non-GAAP financial measures should not be considered in\nisolation from, or as a substitute for, financial information prepared in\naccordance with GAAP. Investors are encouraged to review the reconciliation of\nthese non-GAAP measures to their most directly comparable GAAP financial\nmeasures. A reconciliation of the non-GAAP financial measures to such GAAP\nmeasures has been provided in the tables included as part of this press\nrelease.\n\nNon-GAAP Gross Profit and Non-GAAP Gross Margin. Non-GAAP gross profit is\ndefined as GAAP revenues less GAAP cost of revenue adjusted for amortization\nof acquired developed technology, stock-based compensation, and\ntransaction-related costs (including, but not limited to, accounting, legal,\nand advisory fees related to the transaction, as well as transaction-related\nretention bonuses). Non-GAAP gross margin is defined as non-GAAP gross profit\ndivided by GAAP revenues. BlackLine believes that presenting non-GAAP gross\nprofit and non-GAAP gross margin is useful to investors as it eliminates the\nimpact of certain non-cash expenses and allows a direct comparison of gross\nprofit between periods.\n\nNon-GAAP Operating Expenses. Non-GAAP operating expenses include (a) non-GAAP\nsales and marketing expense, (b) non-GAAP research and development expense,\nand (c) non-GAAP general and administrative expense. Non-GAAP sales and\nmarketing expense is defined as GAAP sales and marketing expense adjusted for\namortization of intangible assets, stock-based compensation, and\ntransaction-related costs. Non-GAAP research and development expense is\ndefined as GAAP research and development expense adjusted for stock-based\ncompensation and transaction-related costs. Non-GAAP general and\nadministrative expense is defined as GAAP general and administrative expense\nadjusted for amortization of intangible assets, stock-based compensation,\nchange in fair value of contingent consideration, transaction-related costs,\nrestructuring costs, and legal settlement gains or costs. BlackLine believes\nthat presenting each of the non-GAAP operating expenses is useful to investors\nas it eliminates the impact of certain cash and non-cash expenses and allows a\ndirect comparison of operating expenses between periods.\n\nNon-GAAP Income from Operations and Non-GAAP Operating Margin. Non-GAAP income\nfrom operations is defined as GAAP income from operations adjusted for\namortization of intangible assets, stock-based compensation, change in fair\nvalue of contingent consideration, transaction-related costs, restructuring\ncosts, and legal settlement gains or costs. Non-GAAP operating margin is\ndefined as non-GAAP income from operations divided by GAAP revenues. BlackLine\nbelieves that presenting non-GAAP income from operations and non-GAAP\noperating margin is useful to investors as it eliminates the impact of items\nthat have been impacted by the Company’s acquisitions and other related\ncosts in order to allow a direct comparison of income from operations between\nall periods presented.\n\nNon-GAAP Net Income Attributable to BlackLine and Diluted Non-GAAP Net Income\nPer Share Attributable to BlackLine, Inc. Non-GAAP net income attributable to\nBlackLine is defined as GAAP net income attributable to BlackLine adjusted for\nthe income tax effects of acquisitions, stock-based compensation shortfalls\nand windfalls, and the discrete tax impact of other non-GAAP adjustments,\namortization of intangible assets, stock-based compensation, amortization of\ndebt issuance costs from our convertible senior notes, change in fair value of\ncontingent consideration, transaction-related costs, restructuring costs,\nlegal settlement gains or costs, adjustment to the redeemable non-controlling\ninterest to the redemption amount, and gain on extinguishment of convertible\nsenior notes. Diluted non-GAAP net income per share attributable to BlackLine,\nInc. includes the adjustment for shares resulting from the elimination of\nstock-based compensation. BlackLine believes that presenting non-GAAP net\nincome attributable to BlackLine is useful to investors as it eliminates the\nimpact of items that have been impacted by the Company’s acquisitions and\nother related costs to allow a direct comparison of net income between all\nperiods presented.\n\nFree Cash Flow. Free cash flow is defined as cash flows provided by operating\nactivities less cash flows used to purchase property and equipment, financed\nand otherwise, capitalized software development, and intangible assets.\nBlackLine believes that presenting free cash flow is useful to investors as it\nprovides a measure of the Company’s liquidity used by management to evaluate\nthe amount of cash generated by the Company’s business including the impact\nof purchases of property and equipment and cost of capitalized software\ndevelopment.\n\nUse of Operating Metrics\n\nBlackLine has provided in this release and the quarterly conference call held\non August 4, 2026 certain operating metrics, including (i) number of\ncustomers, (ii) Platform pricing ARR as a percentage of eligible ARR, and\n(iii) dollar-based net revenue retention rate, which BlackLine uses to\nevaluate its business, measure its performance, identify trends affecting its\nbusiness, formulate financial projections and make strategic decisions.\n\nNumber of Customers. A customer is defined as a company that contributes to\nour subscription and support revenue as of the measurement date. In situations\nwhere an organization has multiple subsidiaries or divisions, each entity that\nis invoiced as a separate entity is treated as a separate customer. In an\ninstance where an existing customer requests its invoice be divided for the\nsole purpose of restructuring its internal billing arrangement without any\nincremental increase in revenue, such customer continues to be treated as a\nsingle customer. BlackLine believes that its ability to expand its customer\nbase is an indicator of the Company’s market penetration and the growth of\nits business.\n\nPlatform Pricing ARR as a Percentage of Eligible ARR. Platform pricing ARR as\na percentage of eligible ARR is calculated as platform annual recurring\nrevenue divided by our eligible annual recurring revenue. We define eligible\nARR as total annual recurring revenue, excluding revenue from SAP\nsolutions-extensions (“SolEx”) and the public sector.\n\nDollar-based Net Revenue Retention Rate. Dollar-based net revenue retention\nrate is calculated as the implied monthly subscription and support revenue at\nthe end of a period for the base set of customers from which the Company\ngenerated subscription revenue in the year prior to the calculation, divided\nby the implied monthly subscription and support revenue one year prior to the\ndate of calculation for that same customer base. This calculation does not\nreflect implied monthly subscription and support revenue for new customers\nadded during the one-year period but does include the effect of customers who\nterminated during the period. Implied monthly subscription and support revenue\nis defined as the total amount of minimum subscription and support revenue\ncontractually committed to, under each of BlackLine’s customer agreements\nover the entire term of the agreement, divided by the number of months in the\nterm of the agreement. BlackLine believes that dollar-based net revenue\nretention rate is an important metric to measure the long-term value of\ncustomer agreements and the Company’s ability to retain and grow its\nrelationships with existing customers over time.\n\nInvestor Contact:\nMatt Humphries, CFA\nmatt.humphries@blackline.com\n\n\n\n BlackLine, Inc. \n Condensed Consolidated Balance Sheets \n (in thousands) \n (unaudited) \n \n June 30, 2026 December 31, 2025 \n ASSETS \n Current assets: \n Cash and cash equivalents $ 242,897 $ 390,034 \n Marketable securities 284,863 388,178 \n Accounts receivable, net of allowances 190,185 218,100 \n Prepaid expenses and other current assets 29,685 28,897 \n Total current assets 747,630 1,025,209 \n Capitalized software development costs, net 52,013 49,494 \n Property and equipment, net 15,555 13,255 \n Intangible assets, net 41,768 49,352 \n Goodwill 465,715 465,804 \n Operating lease right-of-use assets 21,024 22,756 \n Deferred tax assets, net 35,652 39,341 \n Other assets 89,579 94,308 \n Total assets $ 1,468,936 $ 1,759,519 \n LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY \n Current liabilities: \n Accounts payable $ 6,323 $ 15,523 \n Accrued expenses and other current liabilities 60,145 76,790 \n Deferred revenue, current 363,684 368,593 \n Finance lease liabilities, current 13 12 \n Operating lease liabilities, current 4,354 4,436 \n Convertible senior notes, net, current — 230,023 \n Total current liabilities 434,519 695,377 \n Finance lease liabilities, noncurrent 2,212 40 \n Operating lease liabilities, noncurrent 16,842 19,850 \n Convertible senior notes, net, noncurrent 667,319 666,046 \n Deferred tax liabilities, net 4,906 5,244 \n Deferred revenue, noncurrent 1,568 922 \n Other long-term liabilities 1,103 593 \n Total liabilities 1,128,469 1,388,072 \n Commitments and contingencies \n Redeemable non-controlling interest 24,293 39,121 \n Stockholders' equity: \n Common stock 584 599 \n Additional paid-in capital 329,461 356,841 \n Accumulated other comprehensive loss (881 ) (296 ) \n Accumulated deficit (12,990 ) (24,818 ) \n Total stockholders' equity 316,174 332,326 \n Total liabilities, redeemable non-controlling interest, and stockholders' equity $ 1,468,936 $ 1,759,519 \n\n\n\n BlackLine, Inc. \n Condensed Consolidated Statements of Operations \n (in thousands, except per share data) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Revenues \n Subscription and support $ 177,856 $ 163,027 $ 351,570 $ 321,489 \n Professional services 9,966 8,998 19,407 17,467 \n Total revenues 187,822 172,025 370,977 338,956 \n Cost of revenues \n Subscription and support 37,509 35,189 73,945 69,319 \n Professional services 7,635 7,433 15,204 14,227 \n Total cost of revenues 45,144 42,622 89,149 83,546 \n Gross profit 142,678 129,403 281,828 255,410 \n Operating expenses \n Sales and marketing 68,489 64,712 135,910 127,775 \n Research and development 31,294 27,964 61,854 53,689 \n General and administrative 30,788 28,138 64,029 56,483 \n Restructuring costs 1,117 1,044 2,810 6,343 \n Total operating expenses 131,688 121,858 264,603 244,290 \n Income from operations 10,990 7,545 17,225 11,120 \n Other income (expense) \n Interest income 4,138 8,555 10,196 17,447 \n Interest expense (2,360 ) (2,533 ) (4,854 ) (5,055 ) \n Other income, net 1,778 6,022 5,342 12,392 \n Income before income taxes 12,768 13,567 22,567 23,512 \n Provision for income taxes 3,500 6,176 9,408 10,847 \n Net income 9,268 7,391 13,159 12,665 \n Net income attributable to redeemable non-controlling interest 937 660 1,331 1,057 \n Adjustment attributable to redeemable non-controlling interest (8,150 ) (1,561 ) (12,779 ) (2,739 ) \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Basic net income per share attributable to BlackLine, Inc. $ 0.28 $ 0.13 $ 0.42 $ 0.23 \n Shares used to calculate basic net income per share 58,529 62,143 58,981 62,481 \n Diluted net income per share attributable to BlackLine, Inc. $ 0.27 $ 0.13 $ 0.40 $ 0.23 \n Shares used to calculate diluted net income per share 68,558 64,004 69,192 64,420 \n\n\n\n BlackLine, Inc. \n Calculation of Diluted Net Income Per Share \n (in thousands, except per share data) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Diluted Net Income Per Share \n Numerator: \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Interest expense, net of taxes 1,710 130 2,751 255 \n Net income attributable to BlackLine, Inc. for diluted calculation $ 18,191 $ 8,422 $ 27,358 $ 14,602 \n Denominator: \n Weighted average shares 58,529 62,143 58,981 62,481 \n Dilutive effect of securities 171 476 353 554 \n Dilutive effect of convertible senior notes 9,858 1,385 9,858 1,385 \n Shares used to calculate diluted net income per share 68,558 64,004 69,192 64,420 \n Diluted net income per share attributable to BlackLine, Inc. $ 0.27 $ 0.13 $ 0.40 $ 0.23 \n\n\n\n BlackLine, Inc. \n Condensed Consolidated Statements of Cash Flows \n (in thousands) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Cash flows from operating activities \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Net income and adjustment attributable to redeemable non-controlling interest (7,213 ) (901 ) (11,448 ) (1,682 ) \n Net income 9,268 7,391 13,159 12,665 \n Adjustments to reconcile net income to net cash provided by operating activities: \n Depreciation and amortization 12,393 11,475 24,559 22,973 \n Amortization of debt issuance costs 641 845 1,446 1,679 \n Stock-based compensation 27,481 24,657 51,222 43,231 \n Noncash lease expense 1,399 1,297 2,944 2,694 \n Reductions in noncash lease liabilities (351 ) — (351 ) — \n Gains on disposal of fixed assets (23 ) — (23 ) — \n Realized gains on sales of marketable securities (7 ) — (7 ) — \n Accretion of purchase discounts on marketable securities, net (1,853 ) (3,393 ) (4,397 ) (5,361 ) \n Net foreign currency (gains) losses (271 ) 788 (149 ) 561 \n Deferred income taxes 2,406 (921 ) 3,385 (2,234 ) \n Provision for credit losses 22 19 19 75 \n Changes in operating assets and liabilities: \n Accounts receivable (15,080 ) (27,269 ) 26,782 5,468 \n Prepaid expenses and other current assets 2,429 6,666 (879 ) 4,788 \n Other assets 1,637 (911 ) 4,743 (1,428 ) \n Accounts payable 728 6,119 (6,988 ) 2,529 \n Accrued expenses and other current liabilities 670 (6,358 ) (16,807 ) (12,989 ) \n Deferred revenue 5,197 10,272 (4,258 ) 2,248 \n Operating lease liabilities (2,015 ) (1,729 ) (3,643 ) (3,239 ) \n Lease incentive receipts — — — 30 \n Other long-term liabilities 320 3,397 530 5,397 \n Net cash provided by operating activities 44,991 32,345 91,287 79,087 \n Cash flows from investing activities \n Purchases of marketable securities (122,793 ) (92,017 ) (191,283 ) (476,940 ) \n Proceeds from maturities of marketable securities 122,650 84,000 296,922 84,000 \n Proceeds from sales of marketable securities — — 1,626 — \n Capitalized software development costs (6,609 ) (5,994 ) (15,020 ) (14,161 ) \n Purchases of property and equipment (1,917 ) (966 ) (4,034 ) (6,917 ) \n Net cash provided by (used in) investing activities (8,669 ) (14,977 ) 88,211 (414,018 ) \n Cash flows from financing activities \n Purchase of additional redeemable non-controlling interest — — (3,291 ) — \n Repayment of convertible senior notes — — (230,196 ) — \n Principal payments under finance lease obligations (3 ) (3 ) (6 ) (60 ) \n Lease incentive receipts - finance leases 37 — 37 — \n Repurchases of common stock (38,460 ) (43,332 ) (84,450 ) (88,783 ) \n Proceeds from exercises of stock options 349 2,882 408 5,018 \n Proceeds from employee stock purchase plan 4,086 4,592 4,086 4,592 \n Proceeds from exercises of stock options - redeemable non-controlling interest — — 152 — \n Acquisition of common stock for tax withholding obligations (1,340 ) (2,052 ) (13,103 ) (12,991 ) \n Net cash used in financing activities (35,331 ) (37,913 ) (326,363 ) (92,224 ) \n Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash (139 ) 170 (276 ) 410 \n Net increase (decrease) in cash, cash equivalents, and restricted cash 852 (20,375 ) (147,141 ) (426,745 ) \n Cash, cash equivalents, and restricted cash, beginning of period 242,227 479,777 390,220 886,147 \n Cash, cash equivalents, and restricted cash, end of period $ 243,079 $ 459,402 $ 243,079 $ 459,402 \n \n Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: \n Cash and cash equivalents at end of period $ 242,897 $ 459,141 $ 242,897 $ 459,141 \n Restricted cash included within prepaid expenses and other current assets at end of period 182 — 182 — \n Restricted cash included within other assets at end of period — 261 — 261 \n Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows $ 243,079 $ 459,402 $ 243,079 $ 459,402 \n\n\n\n BlackLine, Inc. \n Reconciliations of Non-GAAP Financial Measures \n (in thousands, except percentages and per share data) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Non-GAAP Gross Profit: \n Gross profit $ 142,678 $ 129,403 $ 281,828 $ 255,410 \n Amortization of acquired developed technology 3,541 3,207 7,063 6,380 \n Stock-based compensation 4,725 4,535 9,006 8,181 \n Transaction-related costs — — — 8 \n Total non-GAAP gross profit $ 150,944 $ 137,145 $ 297,897 $ 269,979 \n Gross margin 76.0 % 75.2 % 76.0 % 75.4 % \n Non-GAAP gross margin 80.4 % 79.7 % 80.3 % 79.7 % \n \n Non-GAAP Operating Income: \n Operating income $ 10,990 $ 7,545 $ 17,225 $ 11,120 \n Amortization of intangible assets 3,801 3,468 7,584 7,118 \n Stock-based compensation 28,566 25,571 53,351 44,990 \n Transaction-related costs — 128 2,923 3,138 \n Restructuring and legal settlement costs 455 1,295 2,333 6,594 \n Total non-GAAP operating income $ 43,812 $ 38,007 $ 83,416 $ 72,960 \n GAAP operating margin 5.9 % 4.4 % 4.6 % 3.3 % \n Non-GAAP operating margin 23.3 % 22.1 % 22.5 % 21.5 % \n \n Non-GAAP Net Income Attributable to BlackLine, Inc.: \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Provision for (benefit from) income taxes 1,115 (12 ) 3,050 (666 ) \n Amortization of intangible assets 3,801 3,468 7,584 7,118 \n Stock-based compensation 28,566 25,447 53,351 44,755 \n Amortization of debt issuance costs 641 845 1,446 1,679 \n Transaction-related costs — 128 2,923 3,138 \n Restructuring and legal settlement costs 455 1,295 2,333 6,594 \n Adjustment to redeemable non-controlling interest (8,150 ) (1,561 ) (12,779 ) (2,739 ) \n Total non-GAAP net income attributable to BlackLine, Inc. $ 42,909 $ 37,902 $ 82,515 $ 74,226 \n \n Basic Non-GAAP Net Income Per Share Attributable to BlackLine, Inc.: \n Basic non-GAAP net income per share attributable to BlackLine, Inc. $ 0.73 $ 0.61 $ 1.40 $ 1.19 \n Shares used to calculate basic non-GAAP net income per share 58,529 62,143 58,981 62,481 \n \n Diluted Non-GAAP Net Income Per Share Attributable to BlackLine, Inc. \n Numerator: \n Non-GAAP net income attributable to BlackLine, Inc. $ 42,909 $ 37,902 $ 82,515 $ 74,226 \n Interest expense, net of taxes 1,599 1,451 3,134 2,923 \n Non-GAAP net income attributable to BlackLine, Inc. for diluted calculation $ 44,508 $ 39,353 $ 85,649 $ 77,149 \n \n Denominator: \n Weighted average shares 58,529 62,143 58,981 62,481 \n Dilutive effect of securities 5,127 4,351 4,434 3,672 \n Dilutive effect of convertible senior notes 9,858 11,243 9,858 11,243 \n Shares used to calculate diluted non-GAAP net income per share 73,514 77,737 73,273 77,396 \n Diluted non-GAAP net income per share attributable to BlackLine, Inc. $ 0.61 $ 0.51 $ 1.17 $ 1.00 \n \n Non-GAAP Sales and Marketing Expense: \n Sales and marketing expense $ 68,489 $ 64,712 $ 135,910 $ 127,775 \n Amortization of intangible assets (182 ) (183 ) (364 ) (581 ) \n Stock-based compensation (8,368 ) (6,900 ) (15,315 ) (12,944 ) \n Transaction-related costs — — — (10 ) \n Total non-GAAP sales and marketing expense $ 59,939 $ 57,629 $ 120,231 $ 114,240 \n \n Non-GAAP Research and Development Expense: \n Research and development expense $ 31,294 $ 27,964 $ 61,854 $ 53,689 \n Stock-based compensation (5,471 ) (4,451 ) (10,203 ) (7,801 ) \n Transaction-related costs — — — (21 ) \n Total non-GAAP research and development expense $ 25,823 $ 23,513 $ 51,651 $ 45,867 \n \n Non-GAAP General and Administrative Expense: \n General and administrative expense $ 30,788 $ 28,138 $ 64,029 $ 56,483 \n Amortization of intangible assets (78 ) (78 ) (157 ) (157 ) \n Stock-based compensation (10,002 ) (9,685 ) (18,827 ) (16,064 ) \n Transaction-related costs — (128 ) (2,923 ) (3,099 ) \n Restructuring and legal settlement costs 662 (251 ) 477 (251 ) \n Total non-GAAP general and administrative expense $ 21,370 $ 17,996 $ 42,599 $ 36,912 \n \n Total Non-GAAP Operating Expenses $ 107,132 $ 99,138 $ 214,481 $ 197,019 \n \n Free Cash Flow \n Net cash provided by operating activities $ 44,991 $ 32,345 $ 91,287 $ 79,087 \n Capitalized software development costs (6,609 ) (5,994 ) (15,020 ) (14,161 ) \n Purchases of property and equipment (1,917 ) (966 ) (4,034 ) (6,917 ) \n Free cash flow $ 36,465 $ 25,385 $ 72,233 $ 58,009 \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/4bf13579-a862-4482-9dd1-e6f6471573c4)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5W8TD9","title":"BlackLine Announces Second Quarter Financial Results","author":"Globe Newswire","ticker":"BL","created":"2026-08-04T20:05:02.651Z","tickers":["BL"],"exchange":"NASDAQ","article_body":"LOS ANGELES, Aug. 04, 2026 (GLOBE NEWSWIRE) -- BlackLine, Inc\n(https://www.globenewswire.com/Tracker?data=8sE40aXeEFtqV8sKtTBL3t7oFl57Xed5X4Mo4acLv9Tal5ShoO49x-lk6rHgrjt7bRqVoxqh7bh-cOqDmFHUNViIycUOfY2rKqFbLFBDNgU=).\n(Nasdaq: BL), today announced financial results for the second quarter ended\nJune 30, 2026.\n\n“I believe the first half of 2026 will prove to be the most consequential\nperiod in BlackLine's history,” said Owen Ryan, CEO of BlackLine. “AI is\nreshaping the Office of the CFO, and we are meeting that moment. Our platform\nstrategy is maturing and adoption of our Verity agents is accelerating across\nour base. That usage is now monetizing on two fronts, driving conversion to\nour platform and starting to generate direct revenue from our Verity agentic\nofferings.” \n\n“The world's most sophisticated enterprises are deepening their commitments\nto BlackLine,” Ryan continued. “Deal timing was noisy this quarter as\ncustomers work through more rigorous, AI-driven evaluations, but the demand\nbehind those opportunities is strong and durable, and we are more confident\nthan ever in the growing momentum across our business.”\n\nSecond Quarter 2026 Financial Highlights\n* Total GAAP revenues of $187.8 million, an increase of 9.2% compared to the\nsecond quarter of 2025.\n* GAAP operating margin of 5.9%, compared to 4.4% in the second quarter of\n2025.\n* Non-GAAP operating margin of 23.3%, compared to 22.1% in the second quarter\nof 2025.\n* GAAP net income attributable to BlackLine of $16.5 million, or $0.27 per\ndiluted share compared to GAAP net income attributable to BlackLine of $8.3\nmillion, or $0.13 per diluted share in the second quarter of 2025.\n* Non-GAAP net income attributable to BlackLine of $42.9 million, or $0.61 per\ndiluted share compared to non-GAAP net income attributable to BlackLine of\n$37.9 million, or $0.51 per diluted share in the second quarter of 2025.\n* Billings of $193.0 million, an increase of 5.9% compared to the second\nquarter of 2025.\n* Remaining performance obligation of $1.1 billion, an increase of 16.8%\ncompared to the second quarter of 2025.\n* Operating cash flow of $45.0 million, compared to $32.3 million in the\nsecond quarter of 2025.\n* Free cash flow of $36.5 million, compared to $25.4 million in the second\nquarter of 2025.\n* Repurchased approximately 1.2 million shares of common stock for $37.7\nmillion as part of our share repurchase program under which approximately\n$179.7 million of buyback capacity remained at June 30, 2026.\nSecond Quarter Key Metrics and Recent Business Highlights\n* BlackLine had a total of 4,260 customers at June 30, 2026.\n* Platform pricing Annual Recurring Revenue (ARR) as a percentage of eligible\nARR, which excludes SolEx and public sector ARR, was 17% at June 30, 2026.\n* Achieved a dollar-based net revenue retention rate of 102% at June 30,\n2026.\n* Announced a $100 million increase to the Company’s stock buyback program.\n* Verity Prepare, BlackLine’s agentic reconciliations agent, achieved\ngeneral availability in July.\n* Announced the expansion of BlackLine’s Agentic Financial Operations\nPlatform via the Finance Control Console.\n* Earned industry recognition for AI innovation and customer trust from Tech\nAscension Awards and TrustRadius.\n* Hosted BeyondTheBlack Paris, BlackLine’s France and EMEA region customer\nconference.\nThe financial results included in this press release are preliminary and\nsubject to final review. Financial results will not be final until BlackLine\nfiles its Quarterly Report on Form 10-Q for the period. Information about\nBlackLine’s use of non-GAAP financial measures is provided below under\n“Use of Non-GAAP Financial Measures.”\n\nFinancial Outlook\n\nThird Quarter 2026\n* Total GAAP revenue is expected to be in the range of $193 million to $195\nmillion.\n* Non-GAAP operating margin is expected to be in the range of 24.5% to 25.5%.\n* Non-GAAP net income attributable to BlackLine is expected to be in the range\nof $45 million to $47 million, or $0.62 to $0.65 per share on 74.5 million\ndiluted weighted average shares outstanding.\nFull Year 2026\n* Total GAAP revenue is expected to be in the range of $765 million to $769\nmillion.\n* Non-GAAP operating margin is expected to be in the range of 24.1% to 24.6%.\n* Non-GAAP net income attributable to BlackLine is expected to be in the range\nof $177 million to $182 million, or $2.47 to $2.54 per share on 74.0 million\ndiluted weighted average shares outstanding.\nGuidance for non-GAAP operating margin, non-GAAP net income attributable to\nBlackLine, and non-GAAP net income per share attributable to BlackLine\nexcludes specified items from the corresponding GAAP financial measures as\noutlined below under “Use of Non-GAAP Financial Measures” and as detailed\nin the reconciliations of non-GAAP measures for historical periods.\nReconciliations of non-GAAP operating margin, non-GAAP net income attributable\nto BlackLine, and non-GAAP net income per share attributable to BlackLine\nguidance to the most directly comparable U.S. GAAP measures are not available\non a forward-looking basis without unreasonable efforts due to the\nunpredictability and complexity of the charges excluded from these non-GAAP\nfinancial measures. The Company expects the variability of the above items\ncould have a significant, and potentially unpredictable, impact on its future\nGAAP operating margin, net income attributable to BlackLine, and net income\nper share attributable to BlackLine.\n\nQuarterly Conference Call\n\nBlackLine will hold a conference call to discuss its second quarter results at\n2:00 p.m. Pacific time on Tuesday, August 4, 2026. A live audio webcast will\nbe accessible on BlackLine’s investor relations website at\nhttps://investors.blackline.com. Participants can preregister for the\nconference call. A replay of the webcast will be available at\nhttps://investors.blackline.com for 12 months. BlackLine has used, and intends\nto continue to use, its Investor Relations website as a means of disclosing\nmaterial non-public information and for complying with its disclosure\nobligations under Regulation FD.\n\nAbout BlackLine\n\nBlackLine (Nasdaq: BL), is the trust infrastructure for the AI era of finance:\na future where finance drives the agentic era with intelligence, integrity,\nand trust rising together. The BlackLine Agentic Financial Operations\nPlatform™, powered by Studio360 and Verity™ AI, is where the Office of the\nCFO scales AI across Record-to-Report, Invoice-to-Cash, and the processes\nwhere finance owns the controls and demands integrity at every step.\n\nBy unifying data, embedding AI, and engineering trust into every action,\nBlackLine moves finance and accounting beyond reporting on the business to\norchestrating it in real time.\n\nSupported by industry-leading R&D investment and world-class security\npractices, approximately 4,300 customers across multiple industries partner\nwith BlackLine to lead their organizations into the future.\n\nFor more information, please visit blackline.com\n(https://www.globenewswire.com/Tracker?data=WT_smAxpr8dloqGwlYYC07lReLgfonhRLr3j1JlAfvQFAVE4aRYN1kenWdhJhavNliAas1T4_cVVHj1uGbTCnyO5HWEvUSHpxs7Nrahygog=).\n\nForward-looking Statements\n\nThis release and the conference call referenced above contain forward-looking\nstatements within the meaning of the Private Securities Litigation Reform Act\nof 1995. In some cases, you can identify forward-looking statements by\nterminology such as “may,” “will,” “should,” “could,”\n“expect,” “plan,” “anticipate,” “believe,” “estimate,”\n“predict,” “intend,” “potential,” “would,” “continue,”\n“ongoing,” or the negative of these terms or other comparable terminology.\nForward-looking statements in this release and quarterly conference call\ninclude, but are not limited to, statements regarding BlackLine’s future\nfinancial and operational performance, including, without limitation, GAAP and\nnon-GAAP guidance for the third quarter and full year of 2026, the impact of\nprogress against certain key initiatives, our expectations for our business,\nincluding the demand environment, BlackLine’s addressable market, market\nposition and pipeline, our international growth, and our relationships with\nour customers and partners, including opportunities to expand those\nrelationships.\n\nAny forward-looking statements contained in this press release or the\nquarterly conference call are based upon BlackLine’s historical performance\nand its current plans, estimates and expectations, and are not a\nrepresentation that such plans, estimates, or expectations will be achieved.\nForward-looking statements are based on information available at the time\nthose statements are made and/or management’s good-faith beliefs and\nassumptions as of that time with respect to future events, and are subject to\nrisks and uncertainties. If any of these risks or uncertainties materialize or\nif any assumptions prove incorrect, actual performance or results may differ\nmaterially from those expressed in or suggested by the forward-looking\nstatements. These risks and uncertainties include, but are not limited to,\nrisks related to the Company’s ability to attract new customers and expand\nsales to existing customers; the extent to which customers renew their\nsubscription agreements or increase the number of users; the impact of current\nand future economic uncertainty and other unfavorable conditions in the\nCompany's industry or the global economy; the Company’s ability to manage\ngrowth and scale effectively, including entry into new geographies; the\nCompany’s ability to provide successful enhancements, new features and\nmodifications to its software solutions; the Company’s ability to develop\nnew products and software solutions and the success of any new product and\nservice introductions; the Company’s ability to effectively incorporate\nartificial intelligence and machine learning technologies (AI/ML) into its\nplatform and business and the potential reputational harm or legal liability\nthat may result from the use of AI/ML solutions and features; the success of\nthe Company’s strategic relationships with technology vendors and business\nprocess outsourcers, channel partners and alliance partners; a disruption in\nthe Company’s hosting network infrastructure; costs and reputational harm\nthat could result from defects in the Company’s solutions; the loss of any\nkey employees; continued strong demand for the Company’s software in the\nUnited States, Europe, Asia Pacific, and Latin America; the Company’s\nability to compete as the financial close management provider for\norganizations; the timing and success of solutions offered by competitors\nincluding competitors' ability to incorporate AI/ML into products and\nofferings more quickly or successfully; changes in the proportion of the\nCompany’s customer base that is comprised of enterprise or mid-sized\norganizations; the Company’s ability to expand and effectively manage its\nsales teams and their performance and productivity; fluctuations in our\nfinancial results due to long and increasingly variable sales cycles; failure\nto protect the Company’s intellectual property; the Company’s ability to\nintegrate acquired businesses and technologies successfully or achieve the\nexpected benefits of such transactions; unpredictable and uncertain macro and\nregional economic conditions; seasonality; changes in current tax or\naccounting rules; cyber attacks or any breaches of the Company’s security\nmeasures and the risk that the Company’s security measures may not be\nsufficient to secure its customer or confidential data adequately; acts of\nterrorism or other vandalism, war, or natural disasters including the effects\nof climate change; the impact of any determination of deficiencies or\nweaknesses in our internal controls and processes; and other risks and\nuncertainties described in the other filings we make with the Securities and\nExchange Commission from time to time, including the risks described under the\nheading “Risk Factors” in our Annual Report on Form 10-K for the year\nended December 31, 2025 filed with the Securities and Exchange Commission on\nFebruary 26, 2026. Additional information will also be set forth in our\nQuarterly Report on Form 10-Q for the quarter ended June 30, 2026.\nForward-looking statements should not be read as a guarantee of future\nperformance or results, and you should not place undue reliance on such\nstatements. Except as required by law, we do not undertake any obligation to\npublicly update or revise any forward-looking statement, whether as a result\nof new information, future developments or otherwise. All of the information\nin this press release is subject to completion of our quarterly review\nprocess.\n\nUse of Non-GAAP Financial Measures\n\nTo supplement its consolidated financial statements, which are prepared and\npresented in accordance with U.S. generally accepted accounting principles, or\nGAAP, BlackLine has provided in this release and the quarterly conference call\nheld on August 4, 2026, certain financial measures that have not been\nprepared in accordance with GAAP defined as “non-GAAP financial measures,”\nwhich include (i) non-GAAP gross profit and non-GAAP gross margin, (ii)\nnon-GAAP operating expenses, (iii) non-GAAP operating income and non-GAAP\noperating margin, (iv) non-GAAP net income attributable to BlackLine, Inc.,\n(v) diluted non-GAAP net income per share attributable to BlackLine, Inc., and\n(vi) free cash flow.\n\nBlackLine’s management uses these non-GAAP financial measures internally in\nanalyzing its financial results and believes they are useful to investors, as\na supplement to the corresponding GAAP measures, in evaluating BlackLine’s\nongoing operational performance and trends and in comparing its financial\nmeasures with other companies in the same industry, many of which present\nsimilar non-GAAP financial measures to help investors understand the\noperational performance of their businesses. However, it is important to note\nthat the particular items BlackLine excludes from, or includes in, its\nnon-GAAP financial measures may differ from the items excluded from, or\nincluded in, similar non-GAAP financial measures used by other companies in\nthe same industry. Non-GAAP financial measures should not be considered in\nisolation from, or as a substitute for, financial information prepared in\naccordance with GAAP. Investors are encouraged to review the reconciliation of\nthese non-GAAP measures to their most directly comparable GAAP financial\nmeasures. A reconciliation of the non-GAAP financial measures to such GAAP\nmeasures has been provided in the tables included as part of this press\nrelease.\n\nNon-GAAP Gross Profit and Non-GAAP Gross Margin. Non-GAAP gross profit is\ndefined as GAAP revenues less GAAP cost of revenue adjusted for amortization\nof acquired developed technology, stock-based compensation, and\ntransaction-related costs (including, but not limited to, accounting, legal,\nand advisory fees related to the transaction, as well as transaction-related\nretention bonuses). Non-GAAP gross margin is defined as non-GAAP gross profit\ndivided by GAAP revenues. BlackLine believes that presenting non-GAAP gross\nprofit and non-GAAP gross margin is useful to investors as it eliminates the\nimpact of certain non-cash expenses and allows a direct comparison of gross\nprofit between periods.\n\nNon-GAAP Operating Expenses. Non-GAAP operating expenses include (a) non-GAAP\nsales and marketing expense, (b) non-GAAP research and development expense,\nand (c) non-GAAP general and administrative expense. Non-GAAP sales and\nmarketing expense is defined as GAAP sales and marketing expense adjusted for\namortization of intangible assets, stock-based compensation, and\ntransaction-related costs. Non-GAAP research and development expense is\ndefined as GAAP research and development expense adjusted for stock-based\ncompensation and transaction-related costs. Non-GAAP general and\nadministrative expense is defined as GAAP general and administrative expense\nadjusted for amortization of intangible assets, stock-based compensation,\nchange in fair value of contingent consideration, transaction-related costs,\nrestructuring costs, and legal settlement gains or costs. BlackLine believes\nthat presenting each of the non-GAAP operating expenses is useful to investors\nas it eliminates the impact of certain cash and non-cash expenses and allows a\ndirect comparison of operating expenses between periods.\n\nNon-GAAP Income from Operations and Non-GAAP Operating Margin. Non-GAAP income\nfrom operations is defined as GAAP income from operations adjusted for\namortization of intangible assets, stock-based compensation, change in fair\nvalue of contingent consideration, transaction-related costs, restructuring\ncosts, and legal settlement gains or costs. Non-GAAP operating margin is\ndefined as non-GAAP income from operations divided by GAAP revenues. BlackLine\nbelieves that presenting non-GAAP income from operations and non-GAAP\noperating margin is useful to investors as it eliminates the impact of items\nthat have been impacted by the Company’s acquisitions and other related\ncosts in order to allow a direct comparison of income from operations between\nall periods presented.\n\nNon-GAAP Net Income Attributable to BlackLine and Diluted Non-GAAP Net Income\nPer Share Attributable to BlackLine, Inc. Non-GAAP net income attributable to\nBlackLine is defined as GAAP net income attributable to BlackLine adjusted for\nthe income tax effects of acquisitions, stock-based compensation shortfalls\nand windfalls, and the discrete tax impact of other non-GAAP adjustments,\namortization of intangible assets, stock-based compensation, amortization of\ndebt issuance costs from our convertible senior notes, change in fair value of\ncontingent consideration, transaction-related costs, restructuring costs,\nlegal settlement gains or costs, adjustment to the redeemable non-controlling\ninterest to the redemption amount, and gain on extinguishment of convertible\nsenior notes. Diluted non-GAAP net income per share attributable to BlackLine,\nInc. includes the adjustment for shares resulting from the elimination of\nstock-based compensation. BlackLine believes that presenting non-GAAP net\nincome attributable to BlackLine is useful to investors as it eliminates the\nimpact of items that have been impacted by the Company’s acquisitions and\nother related costs to allow a direct comparison of net income between all\nperiods presented.\n\nFree Cash Flow. Free cash flow is defined as cash flows provided by operating\nactivities less cash flows used to purchase property and equipment, financed\nand otherwise, capitalized software development, and intangible assets.\nBlackLine believes that presenting free cash flow is useful to investors as it\nprovides a measure of the Company’s liquidity used by management to evaluate\nthe amount of cash generated by the Company’s business including the impact\nof purchases of property and equipment and cost of capitalized software\ndevelopment.\n\nUse of Operating Metrics\n\nBlackLine has provided in this release and the quarterly conference call held\non August 4, 2026 certain operating metrics, including (i) number of\ncustomers, (ii) Platform pricing ARR as a percentage of eligible ARR, and\n(iii) dollar-based net revenue retention rate, which BlackLine uses to\nevaluate its business, measure its performance, identify trends affecting its\nbusiness, formulate financial projections and make strategic decisions.\n\nNumber of Customers. A customer is defined as a company that contributes to\nour subscription and support revenue as of the measurement date. In situations\nwhere an organization has multiple subsidiaries or divisions, each entity that\nis invoiced as a separate entity is treated as a separate customer. In an\ninstance where an existing customer requests its invoice be divided for the\nsole purpose of restructuring its internal billing arrangement without any\nincremental increase in revenue, such customer continues to be treated as a\nsingle customer. BlackLine believes that its ability to expand its customer\nbase is an indicator of the Company’s market penetration and the growth of\nits business.\n\nPlatform Pricing ARR as a Percentage of Eligible ARR. Platform pricing ARR as\na percentage of eligible ARR is calculated as platform annual recurring\nrevenue divided by our eligible annual recurring revenue. We define eligible\nARR as total annual recurring revenue, excluding revenue from SAP\nsolutions-extensions (“SolEx”) and the public sector.\n\nDollar-based Net Revenue Retention Rate. Dollar-based net revenue retention\nrate is calculated as the implied monthly subscription and support revenue at\nthe end of a period for the base set of customers from which the Company\ngenerated subscription revenue in the year prior to the calculation, divided\nby the implied monthly subscription and support revenue one year prior to the\ndate of calculation for that same customer base. This calculation does not\nreflect implied monthly subscription and support revenue for new customers\nadded during the one-year period but does include the effect of customers who\nterminated during the period. Implied monthly subscription and support revenue\nis defined as the total amount of minimum subscription and support revenue\ncontractually committed to, under each of BlackLine’s customer agreements\nover the entire term of the agreement, divided by the number of months in the\nterm of the agreement. BlackLine believes that dollar-based net revenue\nretention rate is an important metric to measure the long-term value of\ncustomer agreements and the Company’s ability to retain and grow its\nrelationships with existing customers over time.\n\nInvestor Contact:\nMatt Humphries, CFA\nmatt.humphries@blackline.com\n\n\n\n BlackLine, Inc. \n Condensed Consolidated Balance Sheets \n (in thousands) \n (unaudited) \n \n June 30, 2026 December 31, 2025 \n ASSETS \n Current assets: \n Cash and cash equivalents $ 242,897 $ 390,034 \n Marketable securities 284,863 388,178 \n Accounts receivable, net of allowances 190,185 218,100 \n Prepaid expenses and other current assets 29,685 28,897 \n Total current assets 747,630 1,025,209 \n Capitalized software development costs, net 52,013 49,494 \n Property and equipment, net 15,555 13,255 \n Intangible assets, net 41,768 49,352 \n Goodwill 465,715 465,804 \n Operating lease right-of-use assets 21,024 22,756 \n Deferred tax assets, net 35,652 39,341 \n Other assets 89,579 94,308 \n Total assets $ 1,468,936 $ 1,759,519 \n LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY \n Current liabilities: \n Accounts payable $ 6,323 $ 15,523 \n Accrued expenses and other current liabilities 60,145 76,790 \n Deferred revenue, current 363,684 368,593 \n Finance lease liabilities, current 13 12 \n Operating lease liabilities, current 4,354 4,436 \n Convertible senior notes, net, current — 230,023 \n Total current liabilities 434,519 695,377 \n Finance lease liabilities, noncurrent 2,212 40 \n Operating lease liabilities, noncurrent 16,842 19,850 \n Convertible senior notes, net, noncurrent 667,319 666,046 \n Deferred tax liabilities, net 4,906 5,244 \n Deferred revenue, noncurrent 1,568 922 \n Other long-term liabilities 1,103 593 \n Total liabilities 1,128,469 1,388,072 \n Commitments and contingencies \n Redeemable non-controlling interest 24,293 39,121 \n Stockholders' equity: \n Common stock 584 599 \n Additional paid-in capital 329,461 356,841 \n Accumulated other comprehensive loss (881 ) (296 ) \n Accumulated deficit (12,990 ) (24,818 ) \n Total stockholders' equity 316,174 332,326 \n Total liabilities, redeemable non-controlling interest, and stockholders' equity $ 1,468,936 $ 1,759,519 \n\n\n\n BlackLine, Inc. \n Condensed Consolidated Statements of Operations \n (in thousands, except per share data) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Revenues \n Subscription and support $ 177,856 $ 163,027 $ 351,570 $ 321,489 \n Professional services 9,966 8,998 19,407 17,467 \n Total revenues 187,822 172,025 370,977 338,956 \n Cost of revenues \n Subscription and support 37,509 35,189 73,945 69,319 \n Professional services 7,635 7,433 15,204 14,227 \n Total cost of revenues 45,144 42,622 89,149 83,546 \n Gross profit 142,678 129,403 281,828 255,410 \n Operating expenses \n Sales and marketing 68,489 64,712 135,910 127,775 \n Research and development 31,294 27,964 61,854 53,689 \n General and administrative 30,788 28,138 64,029 56,483 \n Restructuring costs 1,117 1,044 2,810 6,343 \n Total operating expenses 131,688 121,858 264,603 244,290 \n Income from operations 10,990 7,545 17,225 11,120 \n Other income (expense) \n Interest income 4,138 8,555 10,196 17,447 \n Interest expense (2,360 ) (2,533 ) (4,854 ) (5,055 ) \n Other income, net 1,778 6,022 5,342 12,392 \n Income before income taxes 12,768 13,567 22,567 23,512 \n Provision for income taxes 3,500 6,176 9,408 10,847 \n Net income 9,268 7,391 13,159 12,665 \n Net income attributable to redeemable non-controlling interest 937 660 1,331 1,057 \n Adjustment attributable to redeemable non-controlling interest (8,150 ) (1,561 ) (12,779 ) (2,739 ) \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Basic net income per share attributable to BlackLine, Inc. $ 0.28 $ 0.13 $ 0.42 $ 0.23 \n Shares used to calculate basic net income per share 58,529 62,143 58,981 62,481 \n Diluted net income per share attributable to BlackLine, Inc. $ 0.27 $ 0.13 $ 0.40 $ 0.23 \n Shares used to calculate diluted net income per share 68,558 64,004 69,192 64,420 \n\n\n\n BlackLine, Inc. \n Calculation of Diluted Net Income Per Share \n (in thousands, except per share data) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Diluted Net Income Per Share \n Numerator: \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Interest expense, net of taxes 1,710 130 2,751 255 \n Net income attributable to BlackLine, Inc. for diluted calculation $ 18,191 $ 8,422 $ 27,358 $ 14,602 \n Denominator: \n Weighted average shares 58,529 62,143 58,981 62,481 \n Dilutive effect of securities 171 476 353 554 \n Dilutive effect of convertible senior notes 9,858 1,385 9,858 1,385 \n Shares used to calculate diluted net income per share 68,558 64,004 69,192 64,420 \n Diluted net income per share attributable to BlackLine, Inc. $ 0.27 $ 0.13 $ 0.40 $ 0.23 \n\n\n\n BlackLine, Inc. \n Condensed Consolidated Statements of Cash Flows \n (in thousands) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Cash flows from operating activities \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Net income and adjustment attributable to redeemable non-controlling interest (7,213 ) (901 ) (11,448 ) (1,682 ) \n Net income 9,268 7,391 13,159 12,665 \n Adjustments to reconcile net income to net cash provided by operating activities: \n Depreciation and amortization 12,393 11,475 24,559 22,973 \n Amortization of debt issuance costs 641 845 1,446 1,679 \n Stock-based compensation 27,481 24,657 51,222 43,231 \n Noncash lease expense 1,399 1,297 2,944 2,694 \n Reductions in noncash lease liabilities (351 ) — (351 ) — \n Gains on disposal of fixed assets (23 ) — (23 ) — \n Realized gains on sales of marketable securities (7 ) — (7 ) — \n Accretion of purchase discounts on marketable securities, net (1,853 ) (3,393 ) (4,397 ) (5,361 ) \n Net foreign currency (gains) losses (271 ) 788 (149 ) 561 \n Deferred income taxes 2,406 (921 ) 3,385 (2,234 ) \n Provision for credit losses 22 19 19 75 \n Changes in operating assets and liabilities: \n Accounts receivable (15,080 ) (27,269 ) 26,782 5,468 \n Prepaid expenses and other current assets 2,429 6,666 (879 ) 4,788 \n Other assets 1,637 (911 ) 4,743 (1,428 ) \n Accounts payable 728 6,119 (6,988 ) 2,529 \n Accrued expenses and other current liabilities 670 (6,358 ) (16,807 ) (12,989 ) \n Deferred revenue 5,197 10,272 (4,258 ) 2,248 \n Operating lease liabilities (2,015 ) (1,729 ) (3,643 ) (3,239 ) \n Lease incentive receipts — — — 30 \n Other long-term liabilities 320 3,397 530 5,397 \n Net cash provided by operating activities 44,991 32,345 91,287 79,087 \n Cash flows from investing activities \n Purchases of marketable securities (122,793 ) (92,017 ) (191,283 ) (476,940 ) \n Proceeds from maturities of marketable securities 122,650 84,000 296,922 84,000 \n Proceeds from sales of marketable securities — — 1,626 — \n Capitalized software development costs (6,609 ) (5,994 ) (15,020 ) (14,161 ) \n Purchases of property and equipment (1,917 ) (966 ) (4,034 ) (6,917 ) \n Net cash provided by (used in) investing activities (8,669 ) (14,977 ) 88,211 (414,018 ) \n Cash flows from financing activities \n Purchase of additional redeemable non-controlling interest — — (3,291 ) — \n Repayment of convertible senior notes — — (230,196 ) — \n Principal payments under finance lease obligations (3 ) (3 ) (6 ) (60 ) \n Lease incentive receipts - finance leases 37 — 37 — \n Repurchases of common stock (38,460 ) (43,332 ) (84,450 ) (88,783 ) \n Proceeds from exercises of stock options 349 2,882 408 5,018 \n Proceeds from employee stock purchase plan 4,086 4,592 4,086 4,592 \n Proceeds from exercises of stock options - redeemable non-controlling interest — — 152 — \n Acquisition of common stock for tax withholding obligations (1,340 ) (2,052 ) (13,103 ) (12,991 ) \n Net cash used in financing activities (35,331 ) (37,913 ) (326,363 ) (92,224 ) \n Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash (139 ) 170 (276 ) 410 \n Net increase (decrease) in cash, cash equivalents, and restricted cash 852 (20,375 ) (147,141 ) (426,745 ) \n Cash, cash equivalents, and restricted cash, beginning of period 242,227 479,777 390,220 886,147 \n Cash, cash equivalents, and restricted cash, end of period $ 243,079 $ 459,402 $ 243,079 $ 459,402 \n \n Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: \n Cash and cash equivalents at end of period $ 242,897 $ 459,141 $ 242,897 $ 459,141 \n Restricted cash included within prepaid expenses and other current assets at end of period 182 — 182 — \n Restricted cash included within other assets at end of period — 261 — 261 \n Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows $ 243,079 $ 459,402 $ 243,079 $ 459,402 \n\n\n\n BlackLine, Inc. \n Reconciliations of Non-GAAP Financial Measures \n (in thousands, except percentages and per share data) \n (unaudited) \n \n Quarter Ended Six Months Ended \n June 30, June 30, \n 2026 2025 2026 2025 \n Non-GAAP Gross Profit: \n Gross profit $ 142,678 $ 129,403 $ 281,828 $ 255,410 \n Amortization of acquired developed technology 3,541 3,207 7,063 6,380 \n Stock-based compensation 4,725 4,535 9,006 8,181 \n Transaction-related costs — — — 8 \n Total non-GAAP gross profit $ 150,944 $ 137,145 $ 297,897 $ 269,979 \n Gross margin 76.0 % 75.2 % 76.0 % 75.4 % \n Non-GAAP gross margin 80.4 % 79.7 % 80.3 % 79.7 % \n \n Non-GAAP Operating Income: \n Operating income $ 10,990 $ 7,545 $ 17,225 $ 11,120 \n Amortization of intangible assets 3,801 3,468 7,584 7,118 \n Stock-based compensation 28,566 25,571 53,351 44,990 \n Transaction-related costs — 128 2,923 3,138 \n Restructuring and legal settlement costs 455 1,295 2,333 6,594 \n Total non-GAAP operating income $ 43,812 $ 38,007 $ 83,416 $ 72,960 \n GAAP operating margin 5.9 % 4.4 % 4.6 % 3.3 % \n Non-GAAP operating margin 23.3 % 22.1 % 22.5 % 21.5 % \n \n Non-GAAP Net Income Attributable to BlackLine, Inc.: \n Net income attributable to BlackLine, Inc. $ 16,481 $ 8,292 $ 24,607 $ 14,347 \n Provision for (benefit from) income taxes 1,115 (12 ) 3,050 (666 ) \n Amortization of intangible assets 3,801 3,468 7,584 7,118 \n Stock-based compensation 28,566 25,447 53,351 44,755 \n Amortization of debt issuance costs 641 845 1,446 1,679 \n Transaction-related costs — 128 2,923 3,138 \n Restructuring and legal settlement costs 455 1,295 2,333 6,594 \n Adjustment to redeemable non-controlling interest (8,150 ) (1,561 ) (12,779 ) (2,739 ) \n Total non-GAAP net income attributable to BlackLine, Inc. $ 42,909 $ 37,902 $ 82,515 $ 74,226 \n \n Basic Non-GAAP Net Income Per Share Attributable to BlackLine, Inc.: \n Basic non-GAAP net income per share attributable to BlackLine, Inc. $ 0.73 $ 0.61 $ 1.40 $ 1.19 \n Shares used to calculate basic non-GAAP net income per share 58,529 62,143 58,981 62,481 \n \n Diluted Non-GAAP Net Income Per Share Attributable to BlackLine, Inc. \n Numerator: \n Non-GAAP net income attributable to BlackLine, Inc. $ 42,909 $ 37,902 $ 82,515 $ 74,226 \n Interest expense, net of taxes 1,599 1,451 3,134 2,923 \n Non-GAAP net income attributable to BlackLine, Inc. for diluted calculation $ 44,508 $ 39,353 $ 85,649 $ 77,149 \n \n Denominator: \n Weighted average shares 58,529 62,143 58,981 62,481 \n Dilutive effect of securities 5,127 4,351 4,434 3,672 \n Dilutive effect of convertible senior notes 9,858 11,243 9,858 11,243 \n Shares used to calculate diluted non-GAAP net income per share 73,514 77,737 73,273 77,396 \n Diluted non-GAAP net income per share attributable to BlackLine, Inc. $ 0.61 $ 0.51 $ 1.17 $ 1.00 \n \n Non-GAAP Sales and Marketing Expense: \n Sales and marketing expense $ 68,489 $ 64,712 $ 135,910 $ 127,775 \n Amortization of intangible assets (182 ) (183 ) (364 ) (581 ) \n Stock-based compensation (8,368 ) (6,900 ) (15,315 ) (12,944 ) \n Transaction-related costs — — — (10 ) \n Total non-GAAP sales and marketing expense $ 59,939 $ 57,629 $ 120,231 $ 114,240 \n \n Non-GAAP Research and Development Expense: \n Research and development expense $ 31,294 $ 27,964 $ 61,854 $ 53,689 \n Stock-based compensation (5,471 ) (4,451 ) (10,203 ) (7,801 ) \n Transaction-related costs — — — (21 ) \n Total non-GAAP research and development expense $ 25,823 $ 23,513 $ 51,651 $ 45,867 \n \n Non-GAAP General and Administrative Expense: \n General and administrative expense $ 30,788 $ 28,138 $ 64,029 $ 56,483 \n Amortization of intangible assets (78 ) (78 ) (157 ) (157 ) \n Stock-based compensation (10,002 ) (9,685 ) (18,827 ) (16,064 ) \n Transaction-related costs — (128 ) (2,923 ) (3,099 ) \n Restructuring and legal settlement costs 662 (251 ) 477 (251 ) \n Total non-GAAP general and administrative expense $ 21,370 $ 17,996 $ 42,599 $ 36,912 \n \n Total Non-GAAP Operating Expenses $ 107,132 $ 99,138 $ 214,481 $ 197,019 \n \n Free Cash Flow \n Net cash provided by operating activities $ 44,991 $ 32,345 $ 91,287 $ 79,087 \n Capitalized software development costs (6,609 ) (5,994 ) (15,020 ) (14,161 ) \n Purchases of property and equipment (1,917 ) (966 ) (4,034 ) (6,917 ) \n Free cash flow $ 36,465 $ 25,385 $ 72,233 $ 58,009 \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/4bf13579-a862-4482-9dd1-e6f6471573c4)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-04T20:05:03.042538306Z","server_sent_at_ms":1785873903042},"received_at":"2026-08-04T20:05:03.133Z","source_url":"https://www.globenewswire.com/news-release/2026/08/04/3338812/0/en/blackline-announces-second-quarter-financial-results.html"},"analysis":{"id":"97571","press_release_id":"108563","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":[],"eventType":"earnings","narrative":"BlackLine reported Q2 revenue of $187.8 million, up 9.2% year-over-year, with Non-GAAP operating margins expanding to 23.3%.\n\nThe company demonstrated strong demand with remaining performance obligations growing 16.8% to $1.1 billion and free cash flow improving to $36.5 million.\n\nAdditionally, BlackLine announced a $100 million increase to its share repurchase program and raised revenue and EPS guidance for both Q3 and the full fiscal year.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"BlackLine posts 9% revenue growth and margin expansion, adds $100M to buyback authorization."},"keyFigures":{"eps":0.61,"revenue":187800000,"guidance":"Q3 Revenue $193M-$195M, EPS $0.62-$0.65; FY26 Revenue $765M-$769M, EPS $2.47-$2.54","revenueYoy":"9.2%","customDimensions":{"fcf":36500000,"rpo":1100000000,"billings":193000000,"buyback_increase":100000000,"operating_cash_flow":45000000,"remaining_buyback_capacity":179700000}},"quotedText":"AI is reshaping the Office of the CFO, and we are meeting that moment.","namedEntities":{"people":[{"name":"Owen Ryan","role":"CEO"}],"products":["Verity agents","Verity Prepare","Finance Control Console","Agentic Financial Operations Platform","Studio360"],"companies":[{"name":"BlackLine, Inc.","ticker":"BL"}],"dollarAmounts":[{"amount":"$187.8 million","context":"Q2 2026 Total GAAP revenues"},{"amount":"$193.0 million","context":"Q2 2026 Billings"},{"amount":"$1.1 billion","context":"Remaining performance obligation"},{"amount":"$45.0 million","context":"Q2 2026 Operating cash flow"},{"amount":"$36.5 million","context":"Q2 2026 Free cash flow"},{"amount":"$37.7 million","context":"Cost of share repurchases in Q2"},{"amount":"$100 million","context":"Increase to stock buyback program"},{"amount":"$179.7 million","context":"Remaining buyback capacity at June 30, 2026"}]},"materialImpact":{"score":4,"reasoning":"The company reported solid 9.2% revenue growth with significant margin expansion (Non-GAAP operating margin up 120bps). 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