Company: BL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666134-25-000016
Chunk: 172

Company: BLACKLINE, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 172
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 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

•$0.4 million decrease in professional fees.

General and administrative 

Quarter Ended March 31,Change20252024$%(in thousands, except percentages)General and administrative$28,345 $30,046 $(1,701)(6 %)Percentage of total revenues17.0 %19.1 %

The decrease in general and administrative expenses for the quarter ended March 31, 2025, compared to the quarter ended March 31, 2024, was primarily due to the following:

•$3.1 million decrease due to an increase in net foreign currency gains due to the strengthening of multiple currencies against the U.S. Dollar;

•$0.9 million decrease in professional fees; and

•$0.5 million decrease in employee compensation and benefits primarily due to lower stock-based compensation from the timing of equity grants and headcount reductions under the Fiscal 2025 restructuring program, partially offset by an increase in average net headcount and average compensation per employee; partially offset by

•$2.8 million increase primarily related to advisory and legal-related expenses. 

Restructuring costs

 Quarter Ended March 31,Change 20252024$% (in thousands, except percentages)Restructuring costs$5,299 $444 $4,855 N/M

Restructuring costs of $5.3 million incurred during the quarter ended March 31, 2025 related to one-time termination benefits under the Fiscal 2025 restructuring program while restructuring costs of $0.4 million incurred during the quarter ended March 31, 2024 related to one-time termination benefits under the Fiscal 2023 restructuring program. Refer to “Note 9 - Restructuring Costs” in our condensed consolidated financial statements for additional information. 

26

Interest income 

Quarter Ended March 31,Change20252024$%(in thousands, except percentages)Interest income$8,892 $15,360 $(6,468)(42 %)

The decrease in interest income during the quarter ended March 31, 2025, compared to the quarter ended March 31, 2024, was due to decreased average balances on our investments and, to a lesser extent, a decrease in average rates on our investments and cash balances.

Interest expense