BlackLine ( (BL) ) has released its Q3 earnings. Here is a breakdown of the information BlackLine presented to its investors.
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BlackLine, Inc., a leader in digital finance transformation, provides a platform that enhances financial operations for the Office of the CFO across various industries. In its recent earnings report for the third quarter of 2024, BlackLine announced a strong financial performance, surpassing its financial guidance and achieving record free cash flow generation. The company continues to focus on operational excellence and innovation, which has been instrumental in enhancing its competitive position and strategic initiatives.
The key highlights from BlackLine’s third-quarter results include a 10% increase in GAAP revenues to $165.9 million, a significant improvement in GAAP operating margin to 5.0%, and a rise in non-GAAP operating margin to 22.7%. The company also reported GAAP net income of $17.2 million, or $0.27 per diluted share, and non-GAAP net income of $44.4 million, or $0.60 per diluted share. BlackLine’s operating cash flow increased to $55.9 million, with free cash flow reaching a record $49.4 million.
Strategically, BlackLine expanded its user base to 397,095 users and maintained a dollar-based net revenue retention rate of 105%. The company received various accolades, including the Tech Cares and Buyers Choice awards from TrustRadius and being named the Best Accounting & Finance Software by G2 for the fifth consecutive year. Additionally, BlackLine strengthened its leadership with the appointment of David Henshall to its Board of Directors.
Looking ahead, BlackLine has communicated a positive outlook for the fourth quarter and the full year of 2024. The company expects continued growth in GAAP revenue and stable non-GAAP operating margins, indicating confidence in its strategic direction and market position. Management remains committed to driving innovation and customer engagement, which are pivotal to sustaining its growth momentum.
