BLACKLINE, INC.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
BL$25.89-23.1%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-06.
0001666134-25-000031
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-07.
0001628280-25-050628
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 159 previous paragraphs and 170 current paragraphs.
66 unchanged; 76 reworded; 25 added; 12 removed; 5 previous and 3 current paragraphs rearranged.
Tables are not compared: 18 previous and 18 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (25)
Current report
•$1.8 million increase in computer software expenses due to upgrades to support business growth;
Current report
•$1.0 million increase in professional fees; and
Current report
•$0.6 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Current report
•$4.6 million increase in computer software expenses due to upgrades to support business growth;
Current report
•$0.7 million increase in employee compensation and benefits; partially offset by
Current report
•$1.9 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Current report
•$3.4 million increase in employee compensation and benefits; and
Current report
•$0.9 million increase in travel-related expenses primarily due to a change in the timing of our user conference; partially offset by
Current report
•$9.7 million increase in employee compensation and benefits;
Current report
•$0.9 million increase in travel-related expenses primarily due to a change in the timing of our user conference; and
Current report
•$4.5 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Current report
•$0.3 million decrease in professional fees.
Current report
•$1.2 million decrease in professional fees; and
Current report
•$0.8 million increase in professional fees; partially offset by
Current report
•$0.5 million decrease in professional fees; partially offset by
Current report
•$0.6 million increase in computer software expenses due to higher spend to enhance automation and support scalability of our operations.
Current report
OBBB
Current report
The OBBB provisions did not have a material impact on our effective tax rate, but several timing provisions are expected to result in significant 2025 cash tax savings. See Note 11 – “Incomes Taxes” contained in the “Notes to Unaudited Condensed Consolidated Financial Statements” in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.
Current report
•$3.1 million increase in accrued expenses and other current liabilities due primarily to employee termination benefits and other exit costs related to the Fiscal 2025 restructuring programs in addition to other current liabilities, partially offset by a decrease in bonus accruals; and
Current report
•$14.3 million decrease in deferred revenue primarily due to lower billings and higher revenue recognition;
Current report
•$1.2 million increase in other assets due to net capitalization related to strategic projects and software upgrades.
Current report
For the nine months ended September 30, 2025, cash used in financing activities was $205.9 million primarily as a result of the following:
Current report
•$200.7 million for repurchases of common stock; and
Current report
For the nine months ended September 30, 2024, cash used in financing activities was $503.4 million primarily as a result of the following:
Current report
•$250.0 million for the repayment of the 2024 Notes with cash on hand;
Removed paragraphs (12)
Previous report
•$0.4 million increase in professional fees; partially offset by
Previous report
•$0.7 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Previous report
•$1.3 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Previous report
•$3.9 million increase in employee compensation and benefits;
Previous report
•$6.2 million increase in employee compensation and benefits;
Previous report
•$0.8 million decrease in professional fees.
Previous report
•$1.3 million decrease in professional fees; and
Previous report
•$5.4 million increase in other long-term liabilities;
Previous report
•$7.8 million decrease in deferred revenue due to a decrease in billings resulting from a decrease in bookings;
Previous report
For the six months ended June 30, 2025, cash used in financing activities was $92.2 million primarily as a result of the following:
Previous report
•$88.8 million of repurchases of common stock; and
Previous report
For the six months ended June 30, 2024, cash used in financing activities was $251.6 million primarily as a result of the following:
Reworded paragraphs (76)
Previous wording
At June 30, 2025, we had 389,559 individual users across 4,451 customers. Additionally, we continue to build strategic relationships with technology vendors, professional services firms, business process outsourcers, and resellers.
Current wording
At September 30, 2025, we had 385,336 individual users across 4,424 customers. Additionally, we continue to build strategic relationships with technology vendors, professional services firms, business process outsourcers, and resellers.
Previous wording
Our cloud-based solutions, increasingly powered by our BlackLine Studio360 Platform, include Account Reconciliations, Transaction Matching, Task Management, Reporting & Analysis, Journal Entry, Account Analysis, Consolidation, Compliance, Smart Close for SAP, Cash Application, Credit & Risk Management, Collections Management, Disputes & Deductions Management, Team & Task Management, AR Intelligence, Electronic Invoicing & Payments, Intercompany Create, Intercompany Balance & Resolve, and Intercompany Net & Settle. These applications address many use cases across our customers’ financial operations and include comprehensive and flexible solutions that deliver best practices for end-to-end record-to-report and invoice-to-cash processes.
Current wording
Our cloud-based solutions, increasingly powered by our BlackLine Studio360 Platform, include Account Reconciliations, Transaction Matching, Task Management, Reporting & Analysis, Journal Entry, Journals Risk Analyser, Account Analysis, Consolidation, Compliance, Smart Close for SAP, Cash Application, Credit & Risk Management, Collections Management, Disputes & Deductions Management, Team & Task Management, AR Intelligence, Electronic Invoicing & Payments, Intercompany Create, Intercompany Balance & Resolve, and Intercompany Net & Settle. In September 2025, we launched Verity, a comprehensive suite of AI capabilities providing finance and accounting teams with a digital workforce of embedded, auditable AI. Our Verity AI capabilities are integrated across our solutions, which address many use cases across our customers’ financial operations and include comprehensive and flexible solutions that deliver best practices for end-to-end record-to-report and invoice-to-cash processes.
Previous wording
We derived approximately 95% of our revenue from subscriptions to our cloud-based software platform and approximately 5% from professional services for the six months ended June 30, 2025. Our subscription contracts have initial non-cancellable terms of one year to three years with renewal options. The majority of new contracts in 2024 and during the six months ended June 30, 2025 had an initial non-cancellable term of three years. We have updated our subscription pricing models to address the value of BlackLine solutions based on a number of factors, including customer size, the products involved in delivering our solutions, and volumetrics, such as transactions or entities. We typically invoice customers annually in advance for subscriptions, which is initially recorded as deferred revenue and recognized ratably over the term of the customer contract. The first year of subscription fees are typically payable within 30 days after execution of a contract, and thereafter upon renewal.
Current wording
We derived approximately 95% of our revenue from subscriptions to our cloud-based software platform and approximately 5% from professional services for the nine months ended September 30, 2025. Our subscription contracts have initial non-cancellable terms of one year to three years with renewal options. The majority of new contracts in 2024 and during the nine months ended September 30, 2025 had an initial non-cancellable term of three years. We have updated our subscription pricing models to address the value of BlackLine solutions based on a number of factors, including customer size, the products involved in delivering our solutions, and volumetrics, such as transactions or entities. We typically invoice customers annually in advance for subscriptions, which is initially recorded as deferred revenue and recognized ratably over the term of the customer contract. The first year of subscription fees are typically payable within 30 days after execution of a contract, and thereafter upon renewal.
Previous wording
For the quarters ended June 30, 2025 and 2024, we had revenues totaling $172.0 million and $160.5 million, respectively. We generated net income attributable to BlackLine, Inc. of $8.3 million and $76.7 million for the quarters ended June 30, 2025 and 2024, respectively.
Current wording
For the quarters ended September 30, 2025 and 2024, we had revenues totaling $178.3 million and $165.9 million, respectively. We generated net income attributable to BlackLine, Inc. of $5.3 million and $17.2 million for the quarters ended September 30, 2025 and 2024, respectively.
Previous wording
For the six months ended June 30, 2025 and 2024, we had revenues totaling $339.0 million and $318.0 million, respectively. We generated net income attributable to BlackLine, Inc. of $14.3 million and $87.5 million for the six months ended June 30, 2025 and 2024, respectively.
Current wording
For the nine months ended September 30, 2025 and 2024, we had revenues totaling $517.2 million and $483.9 million, respectively. We generated net income attributable to BlackLine, Inc. of $19.6 million and $104.8 million for the nine months ended September 30, 2025 and 2024, respectively.
Previous wording
On March 4, 2025, we announced a restructuring program that was designed to reduce our global workforce by approximately 7%, or 130 total positions (the “Fiscal 2025 restructuring program”). All of the actions are part of ongoing organizational alignment and performance management initiatives as we continue to focus on key strategic priorities. Refer to "Note 9 - Restructuring Costs" in our unaudited condensed consolidated financial statements for additional information on this program.
Current wording
On March 4, 2025, we announced a restructuring program that was designed to reduce our global workforce by approximately 7%, or 130 total positions, and in September 2025, we approved additional workforce reductions of 25 positions, including the planned closure of selected facilities (the “Fiscal 2025 restructuring programs”). All of the actions are part of our ongoing organizational alignment as we continue to focus on key strategic priorities and enhance our operational efficiency through global talent optimization. Refer to "Note 9 - Restructuring Costs" in our unaudited condensed consolidated financial statements for additional information on this program.
Previous wording
Dollar-based net revenue retention rate. We believe that dollar-based net revenue retention rate is an important metric to measure the long-term value of customer agreements and our ability to retain and grow our relationships with existing customers over time. We calculate dollar-based net revenue retention rate as the implied monthly subscription and support revenue at the end of a period for the base set of customers from which we generated subscription revenue in the year prior to the calculation, divided by the implied monthly subscription and support revenue one year prior to the date of calculation for that same customer base. This calculation does not reflect implied monthly subscription and support revenue for new customers added during the one-year period but does include the effect of customers who terminated during the period. We define implied monthly subscription and support revenue as the total amount of minimum subscription and support revenue contractually committed to, under each of our customer agreements over the entire term of the agreement, divided by the number of months in the term of the agreement. At June 30, 2025, our dollar-based net revenue retention rate increased from the quarter ended March 31, 2025 due to the impact of favorable foreign exchange rates. Our ability to maximize the lifetime value of our customer relationships will depend, in part, on the willingness of the customer to purchase additional user licenses and products from us. We rely on our customer success and sales teams to support and grow our existing customers by maintaining high customer satisfaction and educating the customer on the value our products provide.
Current wording
Dollar-based net revenue retention rate. We believe that dollar-based net revenue retention rate is an important metric to measure the long-term value of customer agreements and our ability to retain and grow our relationships with existing customers over time. We calculate dollar-based net revenue retention rate as the implied monthly subscription and support revenue at the end of a period for the base set of customers from which we generated subscription revenue in the year prior to the calculation, divided by the implied monthly subscription and support revenue one year prior to the date of calculation for that same customer base. This calculation does not reflect implied monthly subscription and support revenue for new customers added during the one-year period but does include the effect of customers who terminated during the period. We define implied monthly subscription and support revenue as the total amount of minimum subscription and support revenue contractually committed to, under each of our customer agreements over the entire term of the agreement, divided by the number of months in the term of the agreement. At September 30, 2025, our dollar-based net revenue retention rate decreased from the quarter ended June 30, 2025 due primarily to the impact of unfavorable foreign exchange rates. Our ability to maximize the lifetime value of our customer relationships will depend, in part, on the willingness of the customer to purchase additional user licenses and products from us. We rely on our customer success and sales teams to support and grow our existing customers by maintaining high customer satisfaction and educating the customer on the value our products provide.
Previous wording
Number of customers. We believe that our ability to expand our customer base is an indicator of our market penetration and the growth of our business. We define a customer as a company that contributes to our subscription and support revenue as of the measurement date. In situations where an organization has multiple subsidiaries or divisions, each entity that is invoiced as a separate entity is treated as a separate customer. However, where an existing customer requests its invoice be divided for the sole purpose of restructuring its internal billing arrangement without any incremental increase in revenue, such customer continues to be treated as a single customer. For the quarters and six months ended June 30, 2025 and 2024, no single customer accounted for more than 10% of our total revenues.
Current wording
Number of customers. We believe that our ability to expand our customer base is an indicator of our market penetration and the growth of our business. We define a customer as a company that contributes to our subscription and support revenue as of the measurement date. In situations where an organization has multiple subsidiaries or divisions, each entity that is invoiced as a separate entity is treated as a separate customer. However, where an existing customer requests its invoice be divided for the sole purpose of restructuring its internal billing arrangement without any incremental increase in revenue, such customer continues to be treated as a single customer. For the quarters and nine months ended September 30, 2025 and 2024, no single customer accounted for more than 10% of our total revenues.
Previous wording
Non-GAAP Income from Operations and Non-GAAP Operating Margin. Non-GAAP income from operations is defined as GAAP income from operations adjusted for amortization of intangible assets, stock-based compensation, change in fair value of contingent consideration, transaction-related costs, legal settlement gains or costs, and restructuring costs. Non-GAAP operating margin is defined as non-GAAP income from operations divided by GAAP revenues. We believe that presenting non-GAAP income from operations and non-GAAP operating margin is useful to investors as it eliminates the impact of items that have been impacted by our acquisitions and other related costs in order to allow a direct comparison of income from operations between all periods presented.
Current wording
Non-GAAP Income from Operations and Non-GAAP Operating Margin. Non-GAAP income from operations is defined as GAAP income from operations adjusted for amortization of intangible assets, stock-based compensation, change in fair value of contingent consideration, transaction-related costs, restructuring costs, and legal settlement gains or costs. Non-GAAP operating margin is defined as non-GAAP income from operations divided by GAAP revenues. We believe that presenting non-GAAP income from operations and non-GAAP operating margin is useful to investors as it eliminates the impact of items that have been impacted by our acquisitions and other related costs in order to allow a direct comparison of income from operations between all periods presented.
Previous wording
Non-GAAP Net Income Attributable to BlackLine and Diluted Non-GAAP Net Income Per Share Attributable to BlackLine, Inc. Non-GAAP net income attributable to BlackLine is defined as GAAP net income attributable to BlackLine adjusted for the income tax effects of acquisitions, stock-based compensation shortfalls and windfalls, and the discrete tax impact of other non-GAAP adjustments, amortization of intangible assets, stock-based compensation, amortization of debt issuance costs from our 0.00% Convertible Senior Notes due in 2026 (the “2026 Notes”) and 1.00% Convertible Senior Notes due in 2029 (the “2029 Notes” and, together with the 2026 Notes, the “Notes” or “convertible senior notes”), change in fair value of contingent consideration, transaction-related costs, legal settlement gains or costs, restructuring costs, adjustment to the redeemable non-controlling interest to the redemption amount, and gain on extinguishment of convertible senior notes. Diluted non-GAAP net income per share attributable to BlackLine, Inc. includes the adjustment for shares resulting from the elimination of stock-based compensation. We believe that presenting non-GAAP net income attributable to BlackLine is useful to investors as it eliminates the impact of items that have been impacted by our acquisitions and other related costs to allow a direct comparison of net income between all periods presented.
Current wording
Non-GAAP Net Income Attributable to BlackLine and Diluted Non-GAAP Net Income Per Share Attributable to BlackLine, Inc. Non-GAAP net income attributable to BlackLine is defined as GAAP net income attributable to BlackLine adjusted for the income tax effects of acquisitions, stock-based compensation shortfalls and windfalls, and the discrete tax impact of other non-GAAP adjustments, amortization of intangible assets, stock-based compensation, amortization of debt issuance costs from our 0.00% Convertible Senior Notes due in 2026 (the “2026 Notes”) and 1.00% Convertible Senior Notes due in 2029 (the “2029 Notes” and, together with the 2026 Notes, the “Notes” or “convertible senior notes”), change in fair value of contingent consideration, transaction-related costs, restructuring costs, legal settlement gains or costs, adjustment to the redeemable non-controlling interest to the redemption amount, and gain on extinguishment of convertible senior notes. Diluted non-GAAP net income per share attributable to BlackLine, Inc. includes the adjustment for shares resulting from the elimination of stock-based compensation. We believe that presenting non-GAAP net income attributable to BlackLine is useful to investors as it eliminates the impact of items that have been impacted by our acquisitions and other related costs to allow a direct comparison of net income between all periods presented.
Previous wording
Comparison of Quarters and Six Months Ended June 30, 2025 and 2024
Current wording
Comparison of Quarters and Nine Months Ended September 30, 2025 and 2024
Previous wording
The increase in revenues for the quarter and six months ended June 30, 2025, compared to the quarter and six months ended June 30, 2024, was primarily driven by revenue from product expansion from existing customers and bookings from new customers. The total number of customers at June 30, 2025 remained flat as compared to June 30, 2024. The total number of users at June 30, 2025 decreased by 2%, as compared to June 30, 2024, due to customer migrations to our new platform pricing model.
Current wording
The increase in revenues for the quarter and nine months ended September 30, 2025, compared to the quarter and nine months ended September 30, 2024, was primarily driven by revenue from product expansion from existing customers and bookings from new customers. The total number of customers at September 30, 2025 remained relatively flat as compared to September 30, 2024. The total number of users at September 30, 2025 decreased by 3%, as compared to September 30, 2024, primarily due to our strategic initiative to migrate customers to new, more flexible platform pricing models. The platform enhances operational efficiency, and in certain cases, enables customers to streamline workflows and increase the number of users at no additional costs. This approach is designed to accelerate our customers' finance transformation by providing a scalable foundation to adopt our latest innovations, including our Studio360 and Verity AI offerings.
Previous wording
•$2.1 million increase in amortization of developed technology due to net additions to software placed into service; and
Current wording
•$0.9 million increase in amortization of developed technology due to net additions to software placed into service; partially offset by
Previous wording
The increase in total cost of revenues for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, was primarily due to the following:
Current wording
The increase in total cost of revenues for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to the following:
Previous wording
•$1.1 million increase in amortization of developed technology due to net additions to software placed into service; and
Current wording
•$3.0 million increase in amortization of developed technology due to net additions to software placed into service;
Previous wording
•$1.2 million increase in digital marketing expenses and a change in the timing of our international user conference; and
Current wording
•$3.5 million increase primarily due to a change in the timing of our user conference and digital marketing expenses;
Previous wording
•$1.6 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Current wording
•$1.6 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods; and
Previous wording
The increase in sales and marketing expenses for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, was primarily due to the following:
Current wording
The increase in sales and marketing expenses for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to the following:
Previous wording
•$1.6 million increase in digital marketing expenses, partially offset by streamlined marketing efforts;
Current wording
•$4.8 million increase in digital marketing expenses and a change in the timing of our user conference, partially offset by streamlined marketing efforts;
Previous wording
•$0.6 million increase in computer software expenses to support internal automation and scalability initiatives; and
Current wording
•$0.8 million increase in computer software expenses to support internal automation and scalability initiatives; partially offset by
Previous wording
•$2.6 million increase in employee compensation and benefits, partially offset by a decrease in average compensation per employee due to an increase in offshore headcount; partially offset by
Current wording
•$1.1 million increase in employee compensation and benefits, partially offset by a decrease in average compensation per employee due to an increase in offshore headcount;
Previous wording
•$1.5 million increase in computer software expenses due to higher spend on cloud hosting services as customers continue to migrate to the Google Cloud Platform (“GCP”), as well as upgrades to support business growth;
Current wording
•$0.5 million increase in computer software expenses due to higher spend on cloud hosting services, as well as upgrades to support business growth; and
Previous wording
•$0.9 million increase in capitalized software costs primarily due to required updates to access new markets, and ongoing development of cloud-based and new solution offerings. Collectively, these increases resulted in a decrease in net expenses; and
Current wording
•$0.3 million decrease in capitalized software costs primarily due to a realignment of resources to prioritize key products, partially offset by required updates to access new markets, and ongoing development of cloud-based and new solution offerings. Collectively, these decreases resulted in an increase in net expenses; partially offset by
Previous wording
The increase in research and development expenses for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, was primarily due to the following:
Current wording
The increase in research and development expenses for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to the following:
Previous wording
•$4.1 million increase in employee compensation and benefits, partially offset by a decrease in average compensation per employee due to an increase in offshore headcount; partially offset by
Current wording
•$5.3 million increase in employee compensation and benefits, partially offset by a decrease in average compensation per employee due to an increase in offshore headcount; and
Previous wording
•$2.7 million increase in computer software expenses due to higher spend on cloud hosting services as customers continue to migrate to the GCP, as well as upgrades to support business growth;
Current wording
•$0.6 million increase in computer software expenses due to higher spend on cloud hosting services as customers continue to migrate to GCP, as well as upgrades to support business growth; partially offset by
Previous wording
•$0.5 million increase in capitalized software costs primarily due to required updates to access new markets, and ongoing development of cloud-based and new solution offerings. Collectively, these increases resulted in a decrease in net expenses.
Current wording
•$0.6 million increase in capitalized software costs primarily due to required updates to access new markets, and ongoing development of cloud-based and new solution offerings. Collectively, these increases resulted in a decrease in net expenses.
Previous wording
The decrease in general and administrative expenses for the quarter ended June 30, 2025, compared to the quarter ended June 30, 2024, was primarily due to the following:
Current wording
The increase in general and administrative expenses for the quarter ended September 30, 2025, compared to the quarter ended September 30, 2024, was primarily due to the following:
Previous wording
•$2.6 million decrease primarily due to net foreign currency gains driven by the strengthening of multiple currencies against the U.S. Dollar, net of the impact of foreign currency forward contracts; and
Current wording
•$2.1 million increase primarily due to decreased net foreign currency gains, net of the impact of foreign currency forward contracts; and
Previous wording
•$0.8 million decrease in employee compensation and benefits; partially offset by
Current wording
•$2.2 million decrease in employee compensation and benefits.
Previous wording
The decrease in general and administrative expenses for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, was primarily due to the following:
Current wording
The decrease in general and administrative expenses for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to the following:
Previous wording
•$5.8 million decrease primarily due to net foreign currency gains driven by the strengthening of multiple currencies against the U.S. Dollar, net of the impact of foreign currency forward contracts;
Current wording
•$3.7 million decrease primarily due to increased net foreign currency gains, net of the impact of foreign currency forward contracts;
Previous wording
•$3.0 million decrease in depreciation and amortization due to certain assets becoming fully amortized in prior periods.
Current wording
•$3.0 million decrease in employee compensation and benefits; and
Previous wording
•$3.1 million increase primarily related to advisory and legal-related expenses.
Current wording
•$3.0 million increase primarily related to advisory and legal-related expenses; and
Previous wording
Restructuring costs of $1.0 million and $6.3 million were incurred during the quarter and six months ended June 30, 2025, respectively, related to one-time termination benefits under the Fiscal 2025 restructuring program, while restructuring costs of $0.9 million and $1.4 million were incurred during the quarter and six months ended June 30, 2024, respectively, related to one-time termination benefits under the Fiscal 2023 restructuring program. Refer to “Note 9 - Restructuring Costs” in our unaudited condensed consolidated financial statements for additional information.
Current wording
Restructuring costs of $2.3 million and $8.6 million were incurred during the quarter and nine months ended September 30, 2025, respectively, primarily related to one-time termination benefits under the Fiscal 2025 restructuring programs, while restructuring costs of $0.4 million and $1.7 million were incurred during the quarter and nine months ended September 30, 2024, respectively, related to one-time termination benefits under the Fiscal 2023 restructuring program. Refer to “Note 9 - Restructuring Costs” in our unaudited condensed consolidated financial statements for additional information.
Previous wording
The decrease in interest income during the quarter and six months ended June 30, 2025, compared to the quarter and six months ended June 30, 2024, was due to decreased average balances on our investments and, to a lesser extent, a decrease in average interest rates on our investments and cash balances.
Current wording
The decrease in interest income during the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to decreased average balances on our investments and, to a lesser extent, a decrease in average interest rates on our investments and cash balances.
Previous wording
The increase in interest expense during the quarter and six months ended June 30, 2025, compared to the quarter and six months ended June 30, 2024, was primarily due to the cash interest expense and amortization of debt issuance costs related to our 2029 Notes issued in May 2024, partially offset by a decrease in interest expense from the partial repurchase of our 2026 Notes and the repayment of our 2024 Notes in August 2024. Refer to “Note 8 - Convertible Senior Notes” in our unaudited condensed consolidated financial statements for additional information.
Current wording
The decrease in interest expense during the quarter ended September 30, 2025, compared to the quarter ended September 30, 2024, was primarily due to the repayment of our 2024 Notes in August 2024. The increase in interest expense during the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to the cash interest expense and amortization of debt issuance costs related to our 2029 Notes issued in May 2024, partially offset by a decrease in interest expense from the partial repurchase of our 2026 Notes and the repayment of our 2024 Notes in August 2024. Refer to “Note 8 - Convertible Senior Notes” in our unaudited condensed consolidated financial statements for additional information.
Previous wording
The gain on extinguishment of convertible senior notes during the quarter and six months ended June 30, 2024 resulted from the partial repurchase of our 2026 Notes in May 2024. Refer to “Note 8 - Convertible Senior Notes” for additional information.
Current wording
The gain on extinguishment of convertible senior notes during the nine months ended September 30, 2024 resulted from the partial repurchase of our 2026 Notes in May 2024. Refer to “Note 8 - Convertible Senior Notes” for additional information.
Previous wording
We are subject to federal and state income taxes in the U.S. and taxes in foreign jurisdictions. For the quarter and six months ended June 30, 2025, our annual estimated effective tax rate differed from the U.S. federal statutory rate of 21% primarily as a result of non-deductible officer compensation, stock-based compensation shortfalls, foreign taxes, and changes in our valuation allowance for income taxes.
Current wording
We are subject to federal and state income taxes in the U.S. and taxes in foreign jurisdictions. For the quarter and nine months ended September 30, 2025, our annual estimated effective tax rate differed from the U.S. federal statutory rate of 21% primarily as a result of non-deductible officer compensation, stock-based compensation shortfalls, foreign taxes, and changes in our valuation allowance for income taxes.
Previous wording
For the quarters ended June 30, 2025 and 2024, we recorded $6.2 million and $4.3 million in income tax expense, respectively. For the six months ended June 30, 2025 and 2024, we recorded $10.8 million and $5.2 million in income tax expense, respectively. The increase in income tax expense for the quarter and six months ended June 30, 2025 compared to the prior year comparative periods ended June 30, 2024, resulted primarily from non-deductible officer compensation and stock-based compensation shortfalls, along with changes in valuation allowance and changes in the mix of profitable foreign jurisdictions.
Current wording
For the quarters ended September 30, 2025 and 2024, we recorded $4.7 million and $2.1 million in income tax expense, respectively. For the nine months ended September 30, 2025 and 2024, we recorded $15.5 million and $7.3 million in income tax expense, respectively. The increase in income tax expense for the quarter and nine months ended September 30, 2025 compared to the quarter and nine months ended September 30, 2024, resulted primarily from non-deductible officer compensation and stock-based compensation shortfalls, along with changes in the mix of profitable foreign jurisdictions, partially offset by the current quarter’s release of existing valuation allowance with respect to BlackLine K.K. deferred tax assets.
Showing the first 40 of 76 pairs. Open the source sections for the rest.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
•$1.2 million increase in professional fees; and
Current report — wording carried from elsewhere
The decrease in interest income during the quarter ended September 30, 2025, compared to the quarter ended September 30, 2024, was primarily due to a decrease in average interest rates and, to a lesser extent, decreased average balances on our investments and cash balances.
Current report — wording carried from elsewhere
10-Q. During the quarter ended September 30, 2025, there were no significant changes to our critical estimates as detailed in Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2024.
Rearranged previous paragraphs (5)
Previous report — wording carried elsewhere
•$0.6 million increase in employee compensation and benefits; partially offset by
Previous report — wording carried elsewhere
•$0.5 million increase in professional fees; partially offset by
Previous report — wording carried elsewhere
•$0.5 million increase in professional fees; partially offset by
Previous report — wording carried elsewhere
•$1.4 million increase in other assets due to a net increase in prepaid commissions and cloud computing costs.
Previous report — wording carried elsewhere
•$10.9 million decrease in accrued expenses and other current liabilities primarily due to annual bonus payments;