BlackLine, Inc.
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Range $30 – $50
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About the company
BlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations in the United States and internationally. It offers financial close and consolidation solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching, which analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.
- CEO
- Owen Ryan
- IPO
- 2016
- Employees
- 1,850
- HQ
- Woodland Hills, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $1.83B
- P/E
- 52.99
- Fwd P/E
- 12.55
- PEG
- -0.89
- P/S
- 2.50
- P/B
- 5.80
- EV/EBITDA
- 22.71
- Div Yield
- 0.00%
- Gross Margin
- 75.53%
- Op Margin
- 5.62%
- Net Margin
- 4.75%
- ROE
- 10.84%
- ROIC
- 2.45%
Latest fiscal year · YoY change
- Revenue
- $700.43M+7.2%
- Gross Profit
- $526.78M+7.2%
- Op Income
- $33.39M
- Net Income
- $24.52M-84.8%
- EPS
- $0.40-84.6%
- OCF Growth
- -11.1%
- FCF Growth
- -14.4%
- 52W High
- $59.57
- 52W Low
- $24.70
- 50D MA
- $29.24
- 200D MA
- $39.55
- Beta
- 0.65
- RSI (14)
- 54
- Avg Volume
- 1.24M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
BlackLine delivered solid Q2 growth and profitability, but management said longer enterprise deal cycles and AI governance scrutiny are delaying some closes while platform and Agentic adoption continue to build.· August 4, 2026
- Q2 revenue was $187.8 million, up 9.2%, with non-GAAP operating margin of 23.3% and free cash flow of $36.5 million.
- ARR rose to $719 million, RPO grew 17% to over $1.1 billion, and current RPO increased 11%, signaling stronger contracted demand ahead.
- Deal cycles lengthened by about 40 to 45 days in enterprise, and roughly $8 million of Q2 opportunities slipped, though management said about half have already closed.
- Platform pricing is expanding: eligible ARR on platform rose to over 17%, and management still expects 25% by year-end, with mega enterprise above 21%.
- AI usage is scaling quickly, with roughly 3,500 eligible customers AI-enabled and roughly 3,000 actively using AI, while feature usage nearly hit 13 million actions in the quarter.
Total revenue was $187.8 million, up 9.2% year over year, with subscription revenue up 9% and professional services revenue up 11%. ARR grew to $719 million, up 6% or about 7% excluding FX, calculated billings grew 6%, and RPO increased 17% to over $1.1 billion while current RPO grew 11%. Non-GAAP gross margin was 80.4%, non-GAAP subscription gross margin was 83%, non-GAAP operating margin was 23.3% versus 22.1% a year ago, non-GAAP net income was $42.9 million, and adjusted EPS was $0.61. Operating cash flow was $45 million and free cash flow was $36.5 million. For Q3, BlackLine guided to revenue of $193 million to $195 million, non-GAAP operating margin of 24.5% to 25.5%, and non-GAAP EPS of $0.62 to $0.65. For full-year 2026, it kept revenue guidance at $765 million to $769 million, operating margin at 24.1% to 24.6%, and EPS at $2.47 to $2.54.
Owen Ryan framed the quarter as strong on discipline and durability, but unusually affected by AI-driven scrutiny and longer evaluations in the enterprise. He said customers are increasingly asking about AI governance, data sovereignty, security, and control environments, which is extending close timelines even when buying intent is clear. He also emphasized that BlackLine’s Studio360 and Finance Control Console are designed to provide the governance layer that CFOs, auditors, and regulators require, and said the company is winning larger, longer-term strategic relationships.
Patrick Villanova highlighted steady financial performance despite timing shifts, citing $187.8 million of revenue, 80.4% gross margin, 23.3% operating margin, $42.9 million of non-GAAP net income, and $36.5 million of free cash flow. He said stronger free cash flow margins are expected in the second half, supporting full-year free cash flow growth of approximately 20%. He also noted $528 million in cash, cash equivalents and marketable securities versus $667 million of debt, repurchased 1.2 million shares for $38 million, and said the board added $100 million to the buyback authorization, bringing total capacity to about $280 million.
Analysts focused on two themes: how BlackLine is reducing friction around AI adoption and whether the longer sales cycles are stabilizing. Management said it is spending more time with audit firms, regulators, customers, and implementation partners to prove BlackLine’s “glass box” approach, where AI actions are transparent, governed, and auditable. On deal timing, Owen Ryan said enterprise cycles are typically 9 months to a year and are now about 40 to 45 days longer on average, while Patrick Villanova said the company is getting better at closing slipped deals after quarter-end, with the window shortening.
The bull case is that underlying demand appears strong even if revenue timing is noisy: RPO grew 17%, current RPO grew 11%, and platform ARR is moving toward the 25% target. Management also pointed to rapid AI adoption, rising platform adoption, and multiple large wins, including enterprise and sovereign-cloud opportunities, as evidence that BlackLine is becoming the governance layer for AI in finance. They sounded confident that the slip deals are not lost and that conversion plus product launches should support acceleration.
The main risk is that enterprise deal cycles have become harder to predict as customers add more stakeholders and more AI governance questions, pushing some opportunities past quarter-end. Management also said platform conversion can reduce near-term user-seat expansion, and lower mid-market churn remains a headwind built into the outlook. FX is another headwind, with about another $1 million expected in the back half on top of the earlier $1 million to $2 million impact.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 80.0%
- Shares Outstanding
- 58.66M
- Float Shares
- 46.92M
of shares held by institutions
295 13F filers
Buy/sell ratio 0.69. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for BL, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 8.24M | ▲ 559.09K |
| Vanguard Group Inc | 6.80M | ▼ 261.93K |
| Clearlake Capital Group, L.P. | 5.71M | 0 |
| First Manhattan Co. LLC. | 2.40M | ▼ 273.48K |
| Vanguard Capital Management LLC | 2.34M | ▼ 8.00K |
| State Street Corp | 2.16M | ▲ 118.90K |
| Iconiq Capital, LLC | 2.09M | 0 |
| Neuberger Berman Group LLC | 1.81M | ▼ 218.60K |
| Westwood Holdings Group Inc | 1.32M | ▼ 138.42K |
| Geode Capital Management, LLC | 1.28M | ▲ 47.89K |
| Hawk Ridge Capital Management LP | 1.20M | ▼ 692.86K |
| Jpmorgan Chase & Co | 1.19M | ▼ 20.19K |
Held by 352 ETFs
Biggest fund positions in BL by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 5, 26 | Yamamoto Mika | sell | 3,000 |
| Jun 1, 26 | Stalick Michelle D | sell | 780 |
| May 21, 26 | HUGHES GREGORY | sell | 1,637 |
| May 20, 26 | Duan Jimmy C | other | 1,190 |
| May 20, 26 | Duan Jimmy C | other | 751 |
| May 20, 26 | Ryan Owen | other | 2,234 |
| May 20, 26 | Ryan Owen | other | 2,027 |
| May 20, 26 | Ryan Owen | other | 2,438 |
| May 20, 26 | Stalick Michelle D | other | 143 |
| May 20, 26 | Stalick Michelle D | other | 161 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our BL coverage
Recent articles, reports, and earnings notes.
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Generate BL report →Bank of America Corp DE Sells 39,404 Shares of BlackLine $BL
defenseworld.net · Aug 15
Nuvei and BlackLine Partner to Modernize the Invoice-to-Cash Process Through Embedded Payments
prnewswire.com · Aug 5
BlackLine, Inc. (BL) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 4
BlackLine (BL) Reports Q2 Earnings: What Key Metrics Have to Say
zacks.com · Aug 4
BlackLine (BL) Beats Q2 Earnings and Revenue Estimates
zacks.com · Aug 4
BlackLine Q2 Earnings Call Highlights
marketbeat.com · Aug 4
BlackLine Announces Second Quarter Financial Results
globenewswire.com · Aug 4
BlackLine Advances Governed AI for Finance with General Availability of Verity™ Prepare
globenewswire.com · Jul 27
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.