Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 167

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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 estimated fair value was determined based on the actual bids and offers of the 2026 Notes in an over-the-counter market on the last trading day of the period. The estimated fair value of the 2026 Notes, based on a market approach at June 30, 2025, was approximately $221.6 million, which represents a Level 2 valuation. During the quarters ended June 30, 2025 and 2024, the Company recognized interest expense related to the amortization of debt issuance costs of $0.2 million and $0.7 million, respectively.During the six months ended June 30, 2025 and 2024, the Company recognized interest expense related to the amortization of debt issuance costs of $0.4 million and $1.8 million, respectively.The 2026 Notes were not convertible at June 30, 2025. It is the Company’s current intent to settle conversions of the 2026 Notes through “combination settlement”, which involves repayment of the principal portion in cash and any excess of the conversion value over the principal amount in shares, cash, or a combination for any further value.In connection with the offering of the 2026 Notes, the Company entered into privately-negotiated capped call transactions (the “2026 Capped Calls”). There have been no changes to the condition of the 2026 Notes since December 31, 2024, and the 2026 Capped Calls were unchanged and still outstanding at June 30, 2025.

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Note 9 – Restructuring Costs

Fiscal 2025 Restructuring ProgramOn March 4, 2025, the Company announced a restructuring program that reduced its 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 the Company continues to focus on key strategic priorities. The Company expects to have substantially completed the planned actions during fiscal 2025, subject to local law and regulatory requirements, which may extend the process in certain countries.During the quarter and six months ended June 30, 2025, the Company recorded $1.0 million and $6.3 million, respectively, for one-time termination benefits related to the Fiscal 2025 restructuring program, which occurred in the US and various international locations. The charges were recorded pursuant to ASC 420, Exit or Disposal Obligations.The