Blackline (BL) financial statements
Blackline reported revenue of $700M in fiscal 2025, up 20.8% a year over 9 years.
Net income was $25M and the operating margin 3.6%, against -18.1% in 2016.
Free cash flow was $135M, and the company returned $236M in net buybacks.
The diluted share count rose 55% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Blackline's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $128M | $176M | $228M | $289M | $352M | $426M | $523M | $590M | $653M | $700M |
| Cost of revenue | $30M | $41M | $51M | $59M | $69M | $98M | $129M | $147M | $162M | $173M |
| Gross profit | $98M | $134M | $177M | $230M | $283M | $328M | $394M | $443M | $491M | $527M |
| Research and development | $21M | $24M | $31M | $43M | $56M | $77M | $109M | $103M | $101M | $109M |
| Selling, general and admin | $100M | $141M | $176M | $215M | $246M | $289M | $337M | $315M | $370M | $378M |
| Operating income | -$23M | -$30M | -$30M | -$28M | -$20M | -$39M | -$56M | $14M | $19M | $26M |
| Interest expense | $6M | $13,000 | $4,000 | $9M | $23M | $63M | $6M | $6M | $9M | $10M |
| Pre-tax income | -$35M | -$33M | -$28M | -$30M | -$39M | -$101M | -$47M | $61M | $125M | $48M |
| Income tax | -$9M | $565,000 | $1M | $2M | $702,000 | $135,000 | -$14M | $1M | -$43M | $21M |
| Net income | -$26M | -$33M | -$29M | -$33M | -$47M | -$115M | -$29M | $53M | $161M | $25M |
| EPS (diluted) | -$0.62 | -$0.64 | -$0.53 | -$0.59 | -$0.83 | -$1.97 | -$0.49 | $0.81 | $1.45 | $0.39 |
| Diluted shares | 42M | 52M | 54M | 55M | 57M | 58M | 60M | 72M | 74M | 66M |
| Gross margin | 76.4% | 76.4% | 77.7% | 79.6% | 80.4% | 77.0% | 75.3% | 75.1% | 75.2% | 75.2% |
| Operating margin | -18.1% | -17.3% | -13.1% | -9.7% | -5.7% | -9.1% | -10.7% | 2.4% | 2.8% | 3.6% |
| Net margin | -20.6% | -19.0% | -12.6% | -11.3% | -13.3% | -27.1% | -5.6% | 9.0% | 24.7% | 3.5% |
Balance sheet
Fiscal years, from Blackline's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $105M | $113M | $133M | $608M | $543M | $1.2B | $1.1B | $1.2B | $886M | $778M |
| Receivables | $42M | $62M | $75M | $103M | $111M | $125M | $151M | $172M | $178M | $218M |
| Total current assets | $164M | $188M | $222M | $723M | $674M | $1.3B | $1.2B | $1.4B | $1.1B | $1.0B |
| Property, plant and equipment | $11M | $13M | $14M | $13M | $13M | $16M | $20M | $15M | $12M | $13M |
| Goodwill | $185M | $185M | $185M | $185M | $290M | $290M | $444M | $449M | $449M | $466M |
| Total assets | $420M | $461M | $493M | $1.0B | $1.1B | $1.8B | $1.9B | $2.1B | $1.8B | $1.8B |
| Total current liabilities | $108M | $134M | $159M | $207M | $242M | $323M | $368M | $643M | $422M | $695M |
| Total liabilities | $129M | $144M | $170M | $611M | $679M | $1.5B | $1.8B | $1.8B | $1.3B | $1.4B |
| Shareholders' equity | $308M | $316M | $319M | $399M | $422M | $325M | $112M | $261M | $447M | $332M |
| Net debt | -$22M | -$31M | -$46M | -$120M | -$367M | -$540M | -$201M | -$271M | -$886M | -$390M |
Cash flow
Fiscal years, from Blackline's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5M | $6M | $16M | $30M | $55M | $80M | $56M | $127M | $191M | $170M |
| Capital spending | $5M | $9M | $12M | $10M | $17M | $23M | $30M | $28M | $27M | $35M |
| Free cash flow | -$10M | -$2M | $4M | $20M | $38M | $57M | $26M | $99M | $164M | $135M |
| Stock-based compensation | $7M | $16M | $21M | $34M | $50M | $66M | $76M | $78M | $83M | $93M |
| Share buybacks (net) | — | — | — | — | — | — | — | — | $0 | -$236M |
| Net borrowing | $34M | — | — | — | — | — | — | — | — | — |
| Free cash flow margin | -7.7% | -1.3% | 1.8% | 6.9% | 10.7% | 13.3% | 4.9% | 16.8% | 25.1% | 19.3% |
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Open BL in InvestinglyQuestions
What was Blackline's revenue in 2025?
$700M in fiscal 2025, from its 10-K filing.
How much free cash flow does Blackline generate?
$135M in fiscal 2025 (operating cash flow minus capital spending).
From Blackline's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.