Blackline (BL) FY2025 results: revenue $700 million, up 7.2% on the year
Blackline, Inc. (BL) reported revenue of $700 million for fiscal 2025, the year ended 31 December 2025, up 7.2% on the year before. Net income was $25 million, down 84.8%, and diluted earnings per share $0.39. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$700 million
+7.2% on the year
FY2018FY2025
Operating margin
3.6%
2.8% a year earlier
FY2018FY2025
Net income
$25 million
-84.8% on the year
FY2018FY2025
Diluted EPS
$0.39
-73.1% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 6 new.
Revenue rose 8.1% in quarter: GAAP revenue was $183.2 million, up from $169.5 million a year earlier. Full-year revenue was $700.4 million, up 7.2%.
Billings rose 9.5% in quarter: Billings were $226.9 million in the fourth quarter, up 9.5%. The prior release reported third-quarter billings of $161.6 million, up 4.4%, including a four point timing impact.
Remaining obligations reached $1.1 billion: Remaining performance obligation was $1.1 billion at year-end, up 23.5%. The prior release gave $964.1 million at September 30, 2025.
Net revenue retention reached 105%: Dollar-based net revenue retention was 105% at year-end, against 103% at September 30, 2025. The prior release said that figure included a one point foreign exchange headwind.
Non-GAAP operating margin rose to 24.7%: Non-GAAP operating margin was 24.7% in the quarter, against 18.1%. Full-year non-GAAP operating margin was 22.3%, against 19.4%.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
170
191
127
-11.1%
Capital expenditure
8.1
2.1
6.0
+279.8%
Free cash flow
161
189
121
-14.4%
Free cash flow margin
23.1%
28.9%
20.5%
Cash from investing
-425
924
-62.5
Cash from financing
-240
-500
6.1
Depreciation and amortisation
46.5
50.3
50.1
-7.6%
Share-based compensation
92.6
83.3
78.0
+11.2%
Buybacks
236
0.0
n/a
Diluted shares, weighted
66m
74m
72m
-10.3%
Shares outstanding at period end
60m
63m
62m
-4.7%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
332
447
261
-25.6%
Redeemable equity
39.1
36.5
30.1
+7.2%
Debt
896
893
1,390
+0.4%
Operating lease liabilities
19.9
20.3
15.7
-2.1%
Finance lease liabilities
0.0
0.1
0.0
-24.5%
Other liabilities
472
429
404
+10.1%
Total liabilities and equity
1,760
1,825
2,101
-3.6%
Fixed assets
n/a
11.8
14.9
Goodwill
466
449
449
+3.8%
Intangible assets
49.4
59.5
79.1
-17.1%
Investments
388
0.0
933
Cash and equivalents
390
886
271
-56.0%
Receivables
218
178
172
+22.4%
Other assets
248
241
182
+3.1%
Total assets
1,760
1,825
2,101
-3.6%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.