Filing Flows › Blackline (BL) › Q2 2025
Blackline (BL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Blackline (BL) reported revenue of $172M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +3% from the quarter before. Operating margin was 4.4%, net earnings $8.3M (4.8% of revenue).
Blackline, Q2 2025: revenue $172M (+7% year over year), operating margin 4.4%, net earnings $8.3M, operating cash flow $32.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | +3% | +7% |
| Gross profit | $129M | +3% | +8% |
| Operating profit | $7.5M | +111% | +242% |
| Net earnings | $8.3M | +37% | -89% |
| Operating cash flow | $32.3M | -31% | -21% |
| Free cash flow | $25.4M | — | -26% |
What changed
Revenue was $172.0M in Q2 2025, up 7% year over year and up 3% from the previous quarter. Subscription and support was the largest line at 95% of revenue. Subscription and support added $11.2M year over year (up 7%), 98% of the total change.
Gross margin was 75.2%, up 0.4 points from a year earlier. Operating profit was $7.5M, a 4.4% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, above the 1% margin then. Operating expenses grew 3% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $8.3M, down 89% year over year ($7.4M including minority interests, which bore $901K of losses). The effective tax rate was 45.5%. Non-operating items added $6.0M, 44% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $32.3M (down 21% year over year), 438% of net income including minority interests. Non-cash charges added back $11.5M of depreciation and amortization and $24.7M of share-based compensation. Working capital and other items used $11.2M. After capitalized software development costs ($6.0M) and purchases of property and equipment ($1.0M), free cash flow as the company reports it was $25.4M.
Questions
What was Blackline's revenue in the second quarter 2025?
Blackline (BL) reported revenue of $172M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +3% from the quarter before.
Was Blackline profitable in the second quarter 2025?
Operating profit was $7.5M (4.4% of revenue) and net earnings $8.3M.
Source: Blackline 10-Q on SEC EDGAR.