Filing Flows › Blackline (BL) › Q3 2025
Blackline (BL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Blackline (BL) reported revenue of $178M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +4% from the quarter before. Operating margin was 4.3%, net earnings $5.3M (3.0% of revenue).
Blackline, Q3 2025: revenue $178M (+8% year over year), operating margin 4.3%, net earnings $5.3M, operating cash flow $63.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $178M | +4% | +7% |
| Gross profit | $134M | +3% | +7% |
| Operating profit | $7.6M | +0.8% | -9% |
| Net earnings | $5.3M | -36% | -69% |
| Operating cash flow | $63.8M | +97% | +14% |
| Free cash flow | $57.0M | — | +15% |
What changed
Revenue was $178.3M in Q3 2025, up 7% year over year and up 4% from the previous quarter. Subscription and support was the largest line at 94% of revenue. Subscription and support added $11.2M year over year (up 7%), 90% of the total change.
Gross margin was 75.1%, down 0.1 points from a year earlier. Operating profit was $7.6M, a 4.3% margin (down 0.8 points year over year). Operating profit fell $754K even though revenue rose $12.4M versus a year earlier, so costs grew faster than sales. Operating expenses grew 8% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+537%). Net earnings were $5.3M, down 69% year over year. The effective tax rate was 35.1%. Non-operating items added $5.7M, 43% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $63.8M (up 14% year over year), 741% of net income including minority interests. Non-cash charges added back $11.7M of depreciation and amortization and $23.4M of share-based compensation. Working capital and other items added $20.1M. After capitalized software development costs ($6.3M) and purchases of property and equipment ($534K), free cash flow as the company reports it was $57.0M.
Questions
What was Blackline's revenue in the third quarter 2025?
Blackline (BL) reported revenue of $178M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +4% from the quarter before.
Was Blackline profitable in the third quarter 2025?
Operating profit was $7.6M (4.3% of revenue) and net earnings $5.3M.
Source: Blackline 10-Q on SEC EDGAR.