Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 169

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 169
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 30, 20253,676 Restricted stock units - performance and service conditionsThe following table summarizes activity for restricted stock units with performance and service vesting conditions with grant dates established (in thousands):Nonvested at December 31, 2024198 Granted248 Performance adjustment(97)Vested(101)Forfeited/canceled(30)Nonvested at June 30, 2025218The following table summarizes activity for restricted stock units with performance and service vesting conditions with no grant dates established (in thousands):Nonvested at December 31, 2024244 Granted (legal grant with no grant date established)154 Granted (accounting grant date established)(171)Forfeited/canceled(11)Nonvested at June 30, 2025216 Restricted stock units - market and service conditionsThe following table summarizes activity for restricted stock units with market and service-based conditions (in thousands):Nonvested at December 31, 2024202 Granted208 Vested— Forfeited/canceled(33)Nonvested at June 30, 2025377Common Stock Repurchases

On November 17, 2024, the Company's Board of Directors authorized the repurchase of up to $200.0 million of the Company’s common stock. The Company repurchased and retired approximately 0.8 million shares of common stock for $43.3 million during the quarter ended June 30, 2025, and 1.7 million shares for $88.8 million during the six months ended June 30, 2025. At June 30, 2025, $111.2 million of buyback capacity remained under this program. 

Note 11 – Income Taxes 

In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date income, adjusted for discrete items arising in that quarter. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate of 21% primarily as a result of non-deductible officer compensation, stock-based compensation shortfalls, foreign taxes, and changes in the Company’s valuation allowance for income taxes.

19

For the quarters ended June 30, 2025 and 2024, the Company recorded $6.2 million and $4.3 million in income tax expense, respectively. For the six months ended June 30, 2025