Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 20

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 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 and 2024, the Company recorded $10.8 million and $5.2 million in income tax expense, respectively. The increase in income tax expense for the quarter and six months ended June 30, 2025 compared to the prior year comparative periods ended June 30, 2024, resulted primarily from non-deductible officer compensation and stock-based compensation shortfalls, along with changes in valuation allowance and changes in the mix of profitable foreign jurisdictions.On July 4, 2025, the legislation formally titled “An Act to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14” and commonly referred to as the “One Big Beautiful Bill” (“OBBB”) was enacted. The OBBB adjusted a number of provisions affecting businesses, including the immediate expensing of domestic research and development costs, limitations on deductions for interest expense, and accelerated fixed asset depreciation. The Company is in the process of evaluating the OBBB and an estimate of the financial impact cannot be made at this time.

Note 12 – Net Income per Share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):Quarter Ended June 30,Six Months Ended June 30,2025202420252024Basic net income per shareNumerator:Net income attributable to BlackLine, Inc.$8,292 $76,690 $14,347 $87,519 Denominator:Weight