Company: BL
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050628
Chunk: 40

Company: BLACKLINE, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 Capped Calls have an initial strike price of $166.23 per share subject to certain adjustments, which corresponds to the initial conversion price of the 2026 Notes and an initial cap price of $233.31 per share, subject to certain adjustments. At September 30, 2025, all of the 2026 Capped Calls remained outstanding.

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Lease Liabilities

At September 30, 2025, we have obligations totaling $25.0 million related to existing property and equipment leases.

Purchase Obligations

Purchase obligations represent our most significant contractual obligations in the ordinary course of business for which we have not received the related goods or services, in whole or in part. At September 30, 2025, we have $192 million of contractual obligations, with $61 million payable within 12 months, and have additional contractual obligations with other vendors that are individually immaterial and which we can readily settle given our liquidity position and capital resources.

Unrecognized Tax Liabilities

At September 30, 2025, while we have liabilities for unrecognized tax benefits of $19.7 million, due to their nature, there is a high degree of uncertainty regarding the timing of future cash outflows and other events that extinguish these liabilities.

OBBB

The OBBB provisions did not have a material impact on our effective tax rate, but several timing provisions are expected to result in significant 2025 cash tax savings. See Note 11 – “Incomes Taxes” contained in the “Notes to Unaudited Condensed Consolidated Financial Statements” in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information. 

Letters of Credit

Commitments under letters of credit at September 30, 2025 were scheduled to expire as follows (in thousands):

 TotalLess than 1 Year1-3 Years3-5 YearsThereafterLetters of credit$353 $171 $67 $115 $— 

Letters of credit are maintained pursuant to certain of our lease arrangements. The letters of credit remain in effect at varying levels through the terms of the related agreements.

Repurchase Program

On November 17, 2024, our Board of Directors (the “Board”) authorized the repurchase of up to $200 million of our common stock. On September 4, 2025, our Board approved an increase to our stock buyback program of an additional $200 million, for a total overall