BlackLine, Inc. has recently released its 10-K report, providing detailed insights into the company's financial status and operations. The company, headquartered in Woodland Hills, California, offers cloud-based solutions aimed at automating and streamlining accounting and finance operations globally. Its suite of financial close management solutions includes account reconciliations, transaction matching, task management, financial reporting analytics, journal entry, variance analysis, compliance, smart close for SAP, cash application, credit and risk management, collections management, disputes and deductions management, team and task management, AR intelligence, electronic invoicing and compliance, intercompany create, intercompany balance and resolve, and netting and settlement.
In the fiscal year ending December 31, 2024, BlackLine reported revenues totaling $653.3 million, representing an increase from $590.0 million in 2023 and $522.9 million in 2022. The company generated net income of $161.2 million in 2024, a significant improvement from $52.8 million in 2023 and a net loss of $29.4 million in 2022. BlackLine's customer base continues to grow, with 4,443 customers and 397,477 individual users as of December 31, 2024, up from 4,398 customers and 386,814 users in the previous year.
The company's dollar-based net revenue retention rate, a key metric for measuring customer agreement value and retention, stood at 102% in 2024, down from 106% in 2023 and 107% in 2022. BlackLine's subscription and support revenues accounted for approximately 95% of its total revenues in 2024, with the majority of new contracts having an initial term of three years.
BlackLine's financial performance was impacted by global macroeconomic factors, including changes in industry and economic conditions. The company also made strategic acquisitions, including the acquisition of Data Interconnect in 2023, enhancing its accounts receivable automation capabilities, and the acquisition of FourQ in 2022, which contributed to the expansion of its product offerings.
Additionally, BlackLine implemented restructuring programs in 2023 and 2022, resulting in workforce reductions and associated costs. The company's ability to maximize the lifetime value of customer relationships depends on customer willingness to purchase additional user licenses and products, and it relies on its sales and customer success teams to support and grow its existing customer base.
Today the company's shares have moved -0.4% to a price of $49.1. For the full picture, make sure to review BlackLine's 10-K report.
