Filing Flows › Blackline (BL) › Q1 2025
Blackline (BL) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Blackline (BL) reported revenue of $167M for the first quarter 2025 (Q1 2025), +6% from a year earlier and -1% from the quarter before. Operating margin was 2.1%, net earnings $6.1M (3.6% of revenue).
Blackline, Q1 2025: revenue $167M (+6% year over year), operating margin 2.1%, net earnings $6.1M, operating cash flow $46.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $167M | -1% | +6% |
| Gross profit | $126M | -2% | +6% |
| Operating profit | $3.6M | -42% | +105% |
| Net earnings | $6.1M | -89% | -44% |
| Operating cash flow | $46.7M | +7% | -7% |
| Free cash flow | $32.6M | — | -25% |
What changed
Revenue was $166.9M in Q1 2025, up 6% year over year and down 1% from the previous quarter. Subscription and support was the largest line at 95% of revenue. Subscription and support added $9.0M year over year (up 6%), 95% of the total change.
Gross margin was 75.5%, up 0.3 points from a year earlier. Operating profit was $3.6M, a 2.1% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 19% reached operating profit, above the 1% margin then. Operating expenses grew 5% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+1093%). Net earnings were $6.1M, down 44% year over year ($5.3M including minority interests, which bore $781K of losses). The effective tax rate was 47.0%. Non-operating items added $6.4M, 64% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $46.7M (down 7% year over year), 886% of net income including minority interests. Non-cash charges added back $11.5M of depreciation and amortization and $18.6M of share-based compensation. Working capital and other items added $11.4M. After capitalized software development costs ($8.2M) and purchases of property and equipment ($6.0M), free cash flow as the company reports it was $32.6M.
Questions
What was Blackline's revenue in the first quarter 2025?
Blackline (BL) reported revenue of $167M for the first quarter 2025 (Q1 2025), +6% from a year earlier and -1% from the quarter before.
Was Blackline profitable in the first quarter 2025?
Operating profit was $3.6M (2.1% of revenue) and net earnings $6.1M.
Source: Blackline 10-Q on SEC EDGAR.