BlackLine, Inc.

blackline.com

What Do They Do?

Sells cloud software that automates finance and accounting work, including financial close and invoice-to-cash processes, to mid-size and enterprise organizations and public-sector entities.

How Do They Make Money?

Customers pay subscription fees for access to the cloud platform under contracts typically lasting one to three years; fees are generally invoiced annually in advance, with first-year fees usually due within 30 days of signing and later fees at renewal. Implementation and consulting are billed by time and materials as the work is performed.

revenue

Segment	Share	Revenue	How money arrives
Subscription and support Recurring	95% FY2022: 94%		Recurring
Professional services Usage-based	5.4% FY2022: 6.1%		Usage-based

Who Are Their Customers?

Companies of various sizes, nonprofits, and public-sector organizations buy across industries. BlackLine sells mainly through its direct sales force, which works with technology vendors, consulting firms, and business-process outsourcers; SAP also resells its solutions.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 23 cents into free cash flow.

Operating income, FY2025

4% of revenue

▲ +38% vs FY2024 ($18.5M, 3%)

Net income, FY2025

4% of revenue

▼ −85% vs FY2024 ($161.2M, 25%)

Free cash flow, FY2025

23% of revenue

▼ −14% vs FY2024 ($188.7M, 29%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +9%; vs $172M in Q2 FY2025
Net income: ▲ +99%; vs $8.3M in Q2 FY2025

Subscription and support share of revenue vs 94.8% in Q2 FY2025

Growing. Revenue grew 65% in 4 years, from $425.7M in FY2021 to $700.4M in FY2025, about 13% a year.

Revenue over time

Subscription and support Professional services

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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