BlackLine, Inc.
- Open
- 28.99
- Day high
- 29.66
- Day low
- 28.84
- Prev close
- 28.07
- Volume
- 727K
- Mkt cap
- $1.7B
- P/E (TTM)
- 67.1
- EPS (TTM)
- $0.44
- P/B
- 5.6
- P/S
- 2.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$173K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
BlackLine, Inc. (BL) is a Technology company listed on NASDAQ. The stock is down 51% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
BlackLine, Inc. (BL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.45 | $0.56 | +24.4% | $183M | +1.2% |
| Nov 6, 2025 | $0.51 | $0.51 | +0.0% | $178M | -2.6% |
| Nov 7, 2024 | $0.52 | $0.60 | +15.4% | $166M | +1.7% |
| Feb 13, 2024 | $0.55 | $0.69 | +25.5% | $156M | +0.9% |
| Nov 2, 2023 | $0.36 | $0.51 | +41.7% | $151M | +0.6% |
| May 4, 2023 | $0.16 | $0.34 | +112.5% | $139M | +0.6% |
| Feb 14, 2023 | $0.17 | $0.35 | +105.9% | $140M | +0.3% |
| Nov 3, 2022 | $0.09 | $0.21 | +133.3% | $134M | +0.1% |
| Aug 4, 2022 | $0.01 | $0.07 | +900.0% | $128M | +1.5% |
| May 5, 2022 | $-0.08 | $0.01 | +112.5% | $120M | +0.6% |
| Feb 10, 2022 | $0.10 | $0.08 | -20.0% | $115M | +1.5% |
| Nov 4, 2021 | $0.11 | $0.24 | +118.2% | $109M | +2.2% |
BL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | Yamamoto Mikadirector | Sell | 3,000 | $28.48 |
| Jun 2, 2026 | Stalick Michelle Dofficer: Chief Accounting Officer | Sell | 780 | $30.93 |
| May 22, 2026 | HUGHES GREGORYdirector | Sell | 1,637 | $30.25 |
| May 21, 2026 | Tucker Theresedirector, officer: Founder | Tax | 2,425 | $30.84 |
| May 21, 2026 | Villanova Patrickofficer: Chief Financial Officer | Tax | 300 | $30.84 |
| May 21, 2026 | Stalick Michelle Dofficer: Chief Accounting Officer | Tax | 161 | $30.84 |
| May 21, 2026 | Tucker Theresedirector, officer: Founder | Tax | 2,222 | $30.84 |
| May 21, 2026 | Stalick Michelle Dofficer: Chief Accounting Officer | Tax | 301 | $30.84 |
| May 21, 2026 | Tucker Theresedirector, officer: Founder | Tax | 2,016 | $30.84 |
| May 21, 2026 | Ryan Owendirector, officer: Chief Executive Officer | Tax | 2,027 | $30.84 |
| May 21, 2026 | Duan Jimmy Cofficer: Chief Customer Officer | Tax | 751 | $30.84 |
| May 21, 2026 | Morgan-Prager Karoleofficer: Chief Legal and Administrative | Tax | 778 | $30.84 |
| May 21, 2026 | Van Houten Stuartofficer: Chief Commercial Officer | Tax | 1,720 | $30.84 |
| May 21, 2026 | Ung Jeremyofficer: Chief Technology Officer | Tax | 1,388 | $30.84 |
| May 21, 2026 | Ryan Owendirector, officer: Chief Executive Officer | Tax | 2,234 | $30.84 |
Source: BL SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full BL insider & 13F page →BlackLine, Inc. company profile
Overview
BlackLine, Inc. (NASDAQ:BL) is a cloud-based software company founded in 2001 and headquartered in Woodland Hills, California. The company went public in October 2016 and has established itself as a leading provider of financial automation solutions for multinational corporations, large domestic enterprises, and mid-market companies. BlackLine specializes in automating and streamlining accounting and finance operations, particularly focusing on the financial close process, which is the monthly, quarterly, and annual procedure companies use to reconcile their financial records and prepare financial statements.
Business
BlackLine operates in the enterprise software industry, specifically within the financial technology sector that serves corporate finance and accounting departments. The company's core mission is to transform traditional manual accounting processes into automated, cloud-based workflows that reduce errors, save time, and provide better financial visibility. The company's primary offering is its Financial Close Management platform, which represents the largest portion of its revenue. This suite includes account reconciliations software that provides a centralized workspace for finance teams to collaborate on matching and reconciling financial accounts, transaction matching capabilities that can process high volumes of individual transactions automatically, and journal entry management that allows users to generate, review, and post manual journal entries with proper controls and audit trails. BlackLine also offers Strategic Products that have shown strong growth, representing approximately 27-33% of total sales in recent quarters. These include Financial Reporting & Analytics solutions, Invoice-to-Cash automation (which encompasses cash application, credit and risk management, collections management, and disputes resolution), and Intercompany Accounting workflows that manage transactions between different entities within the same organization. The company has been expanding its platform with AI-powered capabilities, including Journal Risk Analyzer for detecting potentially risky journal entries, Document Description Summarizer, and natural language processing features. Additionally, BlackLine has launched Studio360, a comprehensive platform designed to serve the broader office of the Chief Financial Officer with enhanced analytics and reporting capabilities. A significant portion of BlackLine's business comes through its SAP partnership, which consistently represents about 25-26% of total revenue. This partnership focuses on helping SAP customers, particularly those migrating to S/4HANA, implement comprehensive financial close and accounting automation solutions.
Revenue model
BlackLine operates on a Software-as-a-Service (SaaS) subscription model, generating revenue primarily through recurring annual and multi-year software licenses. The company's customers pay subscription fees based on factors such as the number of users, transaction volumes, legal entities, and ERP systems they operate. This creates predictable, recurring revenue streams with high switching costs once customers have integrated BlackLine's solutions into their financial processes. The company's revenue model benefits from strong customer retention, with revenue renewal rates consistently above 94-96%. BlackLine also generates expansion revenue as existing customers add new modules, increase user counts, or expand to additional subsidiaries. The company has been transitioning from traditional user-based pricing to more value-driven models that consider transaction volumes and organizational complexity. Professional services represent a smaller but important revenue stream, helping customers implement and optimize their BlackLine solutions. However, this services revenue has been declining as a percentage of total revenue as the company focuses on more scalable subscription growth. Several factors influence BlackLine's margins and profitability. Positive factors include the scalable nature of cloud software, increasing automation reducing manual processes, growing adoption of strategic higher-margin products, and the network effects from its large customer base. The company benefits from switching costs as finance teams become dependent on these mission-critical systems. Challenges to margins include intense competition from both established enterprise software vendors and emerging fintech companies, the need for continuous R&D investment to stay competitive (particularly in AI and automation), customer concentration risk in certain industries, and potential economic downturns that could pressure corporate IT spending. Additionally, the company faces pricing pressure as customers become more sophisticated and demand greater value demonstration from their software investments.
Competitive moat
BlackLine possesses a moderate but meaningful competitive moat built primarily around switching costs and network effects. Once finance teams implement BlackLine's solutions, replacing them becomes extremely difficult due to the mission-critical nature of financial close processes and the extensive training, workflow integration, and data migration required for alternatives. The company's strongest moat elements include its deep domain expertise in financial close processes accumulated over two decades, extensive integration capabilities with major ERP systems (particularly SAP), and the high-stakes nature of financial reporting where reliability and audit compliance are paramount. BlackLine has also built valuable partnerships, especially with SAP, that create preferential positioning in large enterprise deals. However, BlackLine's moat faces significant competitive pressures. Large enterprise software vendors like Oracle, SAP, and Microsoft are expanding their native financial automation capabilities, potentially reducing demand for third-party solutions. Additionally, the rise of AI and machine learning is lowering barriers to entry, allowing newer companies to develop competitive solutions more quickly. The company's moat is also limited by the fact that financial automation is becoming a more crowded space, with specialized competitors emerging in specific areas like accounts payable, expense management, and financial reporting. While BlackLine has breadth across the financial close process, this also means it competes against focused point solutions that may offer superior functionality in specific areas. Strategic risks include the potential for customers to build internal solutions, especially larger enterprises with significant IT capabilities, and the possibility that cloud ERP vendors will bundle competitive functionality, reducing the need for standalone solutions. BlackLine's ability to maintain its moat depends heavily on continued innovation, particularly in AI and analytics, and maintaining strong partnerships with major ERP providers.
Risks & safety
BlackLine presents a moderate margin of safety with solid financial fundamentals but some valuation concerns. Financial Strength: • Strong balance sheet with $480-886 million in cash and short-term investments across recent quarters • Positive free cash flow generation ranging from $25-188 million annually • Current ratio of 1.66-2.69 indicating adequate liquidity • Debt-to-equity ratio of 2.05-3.56, which is elevated but manageable for a SaaS company Valuation Metrics: • EV/EBITDA ratios ranging from 20-55x, indicating premium valuation • Price-to-book ratios of 7-9x, suggesting expensive relative to book value • Revenue growth of 6-11% quarterly, showing steady but decelerating expansion • Operating margins improving to 20-22% range Other Considerations: • High customer retention rates (94-96%) provide revenue stability • Recurring subscription model creates predictable cash flows • Strategic product growth (27-33% of sales) shows successful portfolio expansion • However, growth deceleration and competitive pressures present risks to premium valuation multiples
Recent development
Over the past few years, BlackLine has undergone significant strategic evolution focused on expanding beyond its core financial close platform into a comprehensive office of the CFO solution provider. The company has made substantial investments in artificial intelligence capabilities, launching AI-powered features like Journal Risk Analyzer, Document Description Summarizer, and natural language processing across its platform. A major strategic initiative has been the development and launch of Studio360, a comprehensive analytics and reporting platform designed to serve broader CFO office needs. This represents BlackLine's attempt to move upstream in the finance technology stack and capture more value from existing customers while attracting new enterprise clients. The company has also transformed its go-to-market approach, shifting toward more partner-powered sales with 81-85% of large deals now involving partners. The SAP partnership has been particularly strategic, with SAP-related revenue consistently representing 25-26% of total revenue. BlackLine has also strengthened relationships with other major ERP providers and system integrators. Pricing and packaging modernization has been another key focus, with BlackLine moving away from traditional user-based licensing toward more flexible models based on transaction volumes, legal entities, and organizational complexity. This new platform pricing model launched in recent quarters aims to eliminate friction in enterprise sales cycles. The company has also made targeted moves into industry-specific solutions and expanded its international presence, while pursuing FedRAMP certification to access government sector opportunities. Recent acquisitions and product development have strengthened capabilities in areas like invoice-to-cash automation and intercompany accounting, positioning BlackLine as a more comprehensive financial automation platform rather than just a financial close solution.
BL company profile · for informational purposes only — not investment advice.
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