Company: BL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666134-25-000016
Chunk: 153

Company: BLACKLINE, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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. All of the common stock held by the Investors is callable by the Company beginning September 3, 2025, or puttable by the Investors upon certain contingent events. Should the call or put option be exercised, the redemption value will be determined based upon a prescribed formula derived from the discrete revenues of BlackLine K.K. and the Company, and may be settled, at the Company’s discretion, with Company stock or cash. As a result of the put right available to the Investors in the future, the redeemable non-controlling interest in BlackLine K.K. is classified outside of permanent equity in the Company’s consolidated balance sheets, and the balance is reported at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest's share of earnings, or its estimated redemption value. The resulting changes in the estimated redemption amount are recorded within retained earnings or, in the absence of retained earnings, additional paid-in capital.Activity in the redeemable non-controlling interest was as follows (in thousands):Quarter Ended March 31,20252024Balance at beginning of period$36,483 $30,063 Net income attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest)397 438 Foreign currency translation116 (104)Adjustment to redeemable non-controlling interest(1,178)3,503 Balance at end of period$35,818 $33,900 

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Note 5 – Intangible Assets and Goodwill

The carrying value of intangible assets was as follows (in thousands):March 31, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountTrade name$15,977 $(15,977)$— Developed technology137,718 (83,485)54,233 Customer relationships26,779 (25,898)881 Defensive patent2,333 (1,577)756 $182,807 $(126,937)$55,870 December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountTrade name$15,977 $(15,977)$— Developed technology137,718 (80,284)57,434 Customer relationships26,779 (25,528)1,251 Defensive patent2,333 (1,498)835 $182,807 $(123,287)$59,520 The following table represents