Short answer
BLACKLINE, INC. (BL) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $700M (+7.2% year over year) and net income of $25M.
- Top risk flagged: Regulatory risk from exempt issuance under Section 4(a)(2) of the Securities Act for 315,640 shares issued in Dec 2025 for WL acquisition
FY2025 key financial metrics · XBRL
- Revenue
- $700M
- +7.2% YoY
- Net income
- $25M
- −84.8% YoY
- Operating margin
- 3.6%
- +0.8 pp YoY
- Gross margin
- 75.2%
- +0.0 pp YoY
- EPS (diluted)
- $0.39
- −73.1% YoY
- ROE
- 7.4%
- −28.7 pp YoY
- Operating cash flow
- $170M
- −11.1% YoY
Source: XBRL data from the BLACKLINE, INC. (BL) FY2025 10-K on SEC EDGAR. USD.
BLACKLINE, INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Cloud-based platform for digital finance transformation targeting the Office of the CFO to automate and unify financial close and invoice-to-cash processes
- New AI suite "Verity" launched Sept 2025, embedding auditable AI across financial operations to improve automation and insights
- Strategic shift: Acquisition of WiseLayer in Dec 2025 to accelerate AI roadmap and enhance competitive positioning in AI-driven finance automation
- Notable metric: Over 5,200 implementations leveraging AI-powered Studio360 Platform across multiple ERP integrations including SAP, Oracle, and Workday
- Distinctive fact: Integration of AI-powered digital workforce agents from WiseLayer uniquely positions BlackLine for complex judgment-based finance automation
Management Discussion & Analysis
- Revenue $700.4M in 2025, up 7% YoY from $653.3M in 2024, driven by product expansion and new bookings
- GAAP operating margin 3.6% vs 2.8% in 2024; Non-GAAP operating margin 22.3% vs 19.4% YoY
- Best segment subscription/support revenue $662.9M (+7%); worst performing professional services $37.5M (+10%) but smallest share (~5%)
- 2025 cash outflows: $18.3M cash for WiseLayer acquisition, $14.6M restructuring costs; no specific buyback or dividend detailed
- Management expects 2026 sales/marketing expense % of revenue to decrease and R&D % to modestly increase focusing on AI investments; macroeconomic risks remain due to customer purchase delays
Risk Factors
- Regulatory risk from exempt issuance under Section 4(a)(2) of the Securities Act for 315,640 shares issued in Dec 2025 for WL acquisition
- Operational risk from reliance on fulfillment of service-based vesting conditions for 220,948 shares issued to WL founders
- Financial risk from $400 million total stock repurchase authorization through open market or private transactions until indefinite date
- Market disruption risk due to potential suspension of stock buyback program based on market conditions or alternative investments
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