BlackLine, Inc. reported its financial results for the first quarter of 2025, revealing total revenues of $166.9 million, a 6% increase from $157.5 million in the same period last year. The growth was primarily driven by a 6% rise in subscription and support revenues, which reached $158.5 million, alongside a 6% increase in professional services revenue to $8.5 million. The company achieved a gross profit of $126.0 million, resulting in a gross margin of 75.5%, slightly up from 75.2% in the prior year. However, net income attributable to BlackLine decreased to $6.1 million, or $0.10 per share, compared to $10.8 million, or $0.18 per share, in the first quarter of 2024.
In terms of operational metrics, BlackLine's customer base grew to 4,455, up from 4,411 a year earlier, while the number of users increased to 393,892 from 387,050. The dollar-based net revenue retention rate was reported at 104%, indicating a stable revenue stream from existing customers. The company also noted a significant restructuring initiative that resulted in a workforce reduction of approximately 7%, or 130 positions, aimed at aligning operations with strategic priorities. This restructuring incurred costs of $5.3 million during the quarter.
BlackLine's balance sheet showed total assets of $1.78 billion as of March 31, 2025, down from $1.83 billion at the end of 2024. The decrease was attributed to a reduction in cash and cash equivalents, which fell to $479.5 million from $885.9 million, largely due to significant investments in marketable securities totaling $384.9 million. The company also reported a total liability of $1.33 billion, with current liabilities increasing significantly due to the issuance of convertible senior notes.
Looking ahead, BlackLine anticipates continued growth driven by its cloud-based financial solutions, which are increasingly integrated with major platforms like SAP and Google Cloud. The company is focused on expanding its product offerings and enhancing customer engagement, despite facing challenges from macroeconomic conditions that may impact customer purchasing decisions. BlackLine's management remains optimistic about its strategic initiatives and the potential for future revenue growth, although they acknowledge the need for careful monitoring of market conditions.
About BLACKLINE, INC.
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