2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Revenue | $352M | $426M | $523M | $590M | $653M |
Cost of Revenue | $69M | $98M | $129M | $147M | $162M |
Gross Profit | $283M | $328M | $394M | $443M | $491M |
Gross Profit % | 80% | 77% | 75% | 75% | 75% |
R&D Expenses | $56M | $77M | $109M | $103M | $101M |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Net Income | -$39M | -$101M | -$34M | $53M | $161M |
Dep. & Amort. | $21M | $27M | $43M | $50M | $50M |
Def. Tax | -$381K | -$817K | -$14M | -$1.5M | -$55M |
Stock Comp. | $50M | $66M | $76M | $78M | $83M |
Chg. in WC | -$3.4M | $25M | $14M | $0 | $0 |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Cash | $367M | $540M | $201M | $271M | $886M |
ST Investments | $175M | $659M | $874M | $933M | $0 |
Cash & ST Inv. | $543M | $1.2B | $1.1B | $1.2B | $886M |
Receivables | $111M | $125M | $151M | $172M | $178M |
Inventory | $0 | $0 | $0 | $0 | $0 |
BlackLine delivered 6% revenue growth in Q1, with non-GAAP operating margin of 21% and annual recurring revenue (ARR) up over 8% to $656M; customer count reached 4,455 and revenue renewal rate was 94%.
The company saw strong adoption of its new platform pricing model, particularly among upper mid-market and enterprise customers, with multi-year renewals increasing by 14 percentage points and migration volume ahead of plan, supporting a long-term growth acceleration of 1-2%.
Strategic partnerships, especially with SAP (SOLEX), drove robust pipeline growth and international expansion, with SAP-related revenue at 26% of total; BlackLine is now included in SAP’s default solution bundles, expected to increase attach rates.
AI and automation remain central to BlackLine’s product innovation, with new agentic AI features, expanded industry-specific solutions, and a focus on rapid time-to-value; internal AI adoption has saved over 60 FTE equivalents since 2024.
Updated 2025 guidance: total GAAP revenue of $692M–$705M (6–8% growth), non-GAAP operating margin of 21.5–22.5% (raised by 50bps), and non-GAAP net income of $159M–$167M ($2.12–$2.22 per share); Q2 revenue expected at $170M–$172M with non-GAAP operating margin of 20.5–21.5%.