Company: BL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666134-25-000016
Chunk: 177

Company: BLACKLINE, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 177
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 the following:

•$8.0 million decrease in deferred revenue primarily due to seasonality in the sales cycle, which led to lower billings and higher revenue recognition;

•$6.6 million decrease in accrued expenses and other current liabilities primarily due to annual bonus payments, partially offset by severance benefit accruals related to the Fiscal 2025 restructuring program; and

•$3.6 million decrease in accounts payable due to timing of payments.

For the quarter ended March 31, 2024, cash provided by operations was $50.4 million, resulting from net non-cash expenses of approximately $24.6 million, net income of $14.8 million, and net cash flows provided as a result of changes in operating assets and liabilities of $11.0 million. The $11.0 million of net cash flows provided as a result of changes in our operating assets and liabilities reflected primarily the following:

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•$45.7 million decrease in accounts receivable primarily due to increased collections; and

•$2.4 million decrease in other assets due to a net decrease in prepaid commissions, partially offset by an increase in cloud computing costs.

These changes in our operating assets and liabilities were partially offset by the following:

•$14.8 million decrease in accrued expenses and other current liabilities primarily due to annual bonus payments; 

•$11.8 million decrease in deferred revenue due to a decrease in billings resulting from a decrease in bookings;

•$6.8 million decrease in accounts payable due to timing of payments;

•$2.0 million net increase in prepaid expenses and other current assets related to insurance and software subscriptions; and 

•$1.7 million decrease in operating lease liabilities.

Net Cash Provided By (Used In) Investing Activities

Our investing activities consist primarily of investments in, and maturities of marketable securities, capitalized software development costs, and capital expenditures for property and equipment.

For the quarter ended March 31, 2025, cash used in investing activities was $399.0 million primarily as a result of the following:

•$384.9 million of purchases of marketable securities;

•$8.2 million for capitalized software development costs; and 

•$6.0 million in purchases of property and equipment. 

For the quarter ended March 31, 2024, cash provided by investing activities was $21.0 million primarily as a result