Filing Flows › Blackline (BL) › Q4 2025
Blackline (BL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Blackline (BL) reported revenue of $183M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +3% from the quarter before. Operating margin was 3.7%, net earnings $4.9M (2.7% of revenue).
Blackline, Q4 2025: revenue $183M (+8% year over year), operating margin 3.7%, net earnings $4.9M, operating cash flow $26.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $183M | +3% | +8% |
| Gross profit | $138M | +3% | +8% |
| Operating profit | $6.8M | -10% | +10% |
| Net earnings | $4.9M | -8% | -91% |
| Operating cash flow | $26.7M | -58% | -39% |
| Free cash flow | $19.9M | — | -46% |
What changed
Revenue was $183.2M in Q4 2025, up 8% year over year and up 3% from the previous quarter. Subscription and support was the largest line at 95% of revenue.
Gross margin was 75.2%, down 0.4 points from a year earlier. Operating profit was $6.8M, a 3.7% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, above the 4% margin then. Operating expenses grew 7% against revenue growth of 8%. The fastest-growing cost line was Research & development (+15%). Net earnings were $4.9M, down 91% year over year. The effective tax rate was 47.8%. Non-operating items added $4.6M, 40% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $26.7M (down 39% year over year), 446% of net income including minority interests. Non-cash charges added back $11.9M of depreciation and amortization and $26.0M of share-based compensation. Working capital and other items used $17.2M. After capitalized software development costs ($6.2M) and purchases of property and equipment ($623K), free cash flow as the company reports it was $19.9M.
Questions
What was Blackline's revenue in the fourth quarter 2025?
Blackline (BL) reported revenue of $183M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +3% from the quarter before.
Was Blackline profitable in the fourth quarter 2025?
Operating profit was $6.8M (3.7% of revenue) and net earnings $4.9M.
Source: Blackline 10-K on SEC EDGAR.