Company: BL
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050628
Chunk: 174

Company: BLACKLINE, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 174
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 2025377Common Stock RepurchasesOn November 17, 2024, the Company's Board of Directors (the “Board”) authorized the repurchase of up to $200 million of the Company’s common stock. On September 4, 2025, the Board approved an increase to the Company’s stock buyback program of an additional $200 million, for a total overall authorization to repurchase up to 

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$400 million of the Company’s common stock. The Board also approved the elimination of the expiration date of the program, which was previously set to expire on March 31, 2027.

The Company repurchased and retired approximately 2.1 million shares of common stock for $113.0 million during the quarter ended September 30, 2025, and 3.9 million shares for $201.8 million during the nine months ended September 30, 2025. At September 30, 2025, $198.2 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.For the quarters ended September 30, 2025 and 2024, the Company recorded $4.7 million and $2.1 million in income tax expense, respectively. For the nine months ended September 30, 2025 and 2024, the Company recorded $15.5 million and $7.3 million in income tax expense, respectively. The increase in income tax expense for the quarter and nine months ended September 30, 2025 compared to the quarter and nine months ended September 30, 2024, resulted primarily from non-deductible officer compensation and stock-based compensation shortfalls, along with changes in the mix of profitable foreign jurisdictions, partially offset by the release of existing valuation allowance with respect to BlackLine K.K. deferred tax assets in the quarter ended September 30, 2025.On July 4, 2025, the legislation formally titled “An Act to Provide for Reconciliation Pursuant to Title II