Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 165

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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1Level 2Level 3TotalCash equivalentsMoney market funds$809,906 $— $— $809,906 Total assets$809,906 $— $— $809,906 The Company classified the marketable debt securities as available-for-sale debt securities at the time of purchase and reevaluated such classification at each balance sheet date. The valuation techniques used to measure the fair values of instruments that were classified as Level 1 were derived from quoted market prices for identical instruments in active markets. The valuation techniques used to measure the fair values of Level 2 instruments were derived from broker reports that utilized quoted market prices for similar instruments. Foreign currency forward contracts are classified within the Level 2 value hierarchy, as the valuation inputs are not actively traded, and the valuation inputs are based on quoted market prices for similar instruments, including currency spot and forward rates.

Note 8 – Convertible Senior Notes

2029 NotesAt June 30, 2025, the Company had $675.0 million aggregate principal amount of the 1.00% 2029 Notes (the “2029 Notes” and, together with the 2026 Notes (as defined below), the “Notes”) outstanding. The 2029 Notes consisted of the following (in thousands):June 30,2025December 31,2024Liability:Principal$675,000 $675,000 Unamortized debt issuance costs(10,238)(11,494)Net carrying amount$664,762 $663,506 The effective interest rate of the 2029 Notes, excluding the conversion option, was 1.40% at June 30, 2025.The Company carries the 2029 Notes at face value less unamortized debt issuance costs in the unaudited condensed consolidated balance sheets and presents the fair value for disclosure purposes only. The estimated fair value was determined based on the actual bids and offers of the 2029 Notes in an over-the-counter market on the last trading day of the period. The estimated fair value of the 2029 Notes, based on a market approach at June 30, 2025, was approximately $718.1 million, which represents a Level 2 valuation.

16

During the quarter ended June 30, 2025, the Company recognized $0.6 million of interest expense related to the amortization of debt issuance costs and $1.7 million of coupon interest expense. During