Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 101

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 101
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 adversely affected.

Cash Flows

The following table sets forth a summary of our cash flows for the periods indicated:

 Year Ended December 31, 20242023 (in thousands)Net cash provided by operating activities$190,836 $126,613 Net cash provided by (used in) investing activities$924,440 $(62,483)Net cash provided by (used in) financing activities$(500,145)$6,146 

Net Cash Provided By Operating Activities

Our cash flows provided by operating activities are primarily influenced by our net income, as applicable, and cash generated from collections in accordance with our subscription-based revenue model wherein billings occur in advance of revenue recognition, as well as the substantial amount of non-cash charges that we incur. Non-cash activities primarily include stock-based compensation, a gain on extinguishment from the partial repurchase of our 2026 Notes, deferred taxes, depreciation and amortization, accretion of discounts on marketable securities, changes in fair value of contingent consideration, non-cash lease expense, and amortization of debt issuance costs.

For the year ended December 31, 2024, cash provided by operating activities was $190.8 million, resulting from net income of $167.8 million, net cash flow provided by changes in our operating assets and liabilities of $16.8 

53

million, and net non-cash expenses of $6.3 million. The $16.8 million net cash flow provided by changes in our operating assets and liabilities reflected primarily the following:

•$19.0 million increase in deferred revenue was primarily driven by customer and user growth, and timing of collections for subscription and support;

•$7.1 million increase in accrued expenses and other current liabilities primarily due to annual bonus accruals, cloud-based data storage services, and timing of foreign tax payments;

•$2.7 million net decrease in prepaid expenses and other current assets primarily due to a decrease in accrued interest and amortization of prepaid balances, partially offset by the timing of tax payments and prepaid cloud-based data storage costs to support our suite of solutions; and

•$2.5 million decrease in other assets due to a net decrease in prepaid commissions, partially offset by cloud computing costs. 

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

•$7.6 million increase in accounts receivable primarily due to increased sales, partially offset by customer payments;

•$6.0 million decrease in operating lease liabilities;