Fri, Feb 21, 9:13 PM (65 days ago)
**BlackLine, Inc. (BL) 2024 Annual Report Summary** For the fiscal year ending December 31, 2024, BlackLine, Inc. reported revenues of $653.3 million, an 11% increase from $590.0 million in 2023. Subscription and support revenue constituted 95% of total revenue. The company achieved a net income of $161.2 million, compared to $52.8 million in 2023, driven by operational efficiencies and reduced restructuring costs. Operating expenses rose to $472.8 million, influenced by increased sales and marketing efforts and higher employee compensation. BlackLine's strategic focus includes enhancing product offerings through acquisitions, such as Data Interconnect for $11.4 million, aimed at improving accounts receivable automation. The company's cash and equivalents stood at $885.9 million, supporting future growth initiatives. Key risk factors include economic volatility affecting customer spending, competition from ERP vendors, and potential cybersecurity threats. The dollar-based net revenue retention rate declined to 102%, down from 106% in 2023, reflecting challenges in customer renewals and market conditions. The company maintains a robust liquidity position to navigate these challenges while executing its growth strategy. Overall, BlackLine's financial performance demonstrates resilience and a commitment to innovation in financial operations.