Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 166

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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 the quarter ended June 30, 2024, the Company recognized $0.3 million of interest expense related to the amortization of debt issuance costs and $0.7 million of coupon interest expense.During the six months ended June 30, 2025, the Company recognized $1.3 million of interest expense related to the amortization of debt issuance costs and $3.4 million of coupon interest expense. During the six months ended June 30, 2024, the Company recognized $0.3 million of interest expense related to the amortization of debt issuance costs and $0.7 million of coupon interest expense.The 2029 Notes were not convertible at June 30, 2025. It is the Company’s current intent to settle conversions of the 2029 Notes through “combination settlement”, which involves repayment of the principal portion in cash and any excess of the conversion value over the principal amount in shares, cash, or a combination for any further value.In connection with the offering of the 2029 Notes, the Company entered into privately-negotiated capped call transactions (the “2029 Capped Calls” and together with the 2026 Capped Calls (as defined below), the “Capped Calls”). There have been no changes to the condition of the 2029 Notes since December 31, 2024, and the 2029 Capped Calls were unchanged and still outstanding at June 30, 2025.2026 NotesAt June 30, 2025, the Company had $230.2 million aggregate principal amount of the 0.00% 2026 Notes (the “2026 Notes”) outstanding. The 2026 Notes consisted of the following (in thousands):June 30,2025December 31,2024Liability:Principal$230,196 $230,196 Unamortized debt issuance costs(604)(1,027)Net carrying amount(1)$229,592 $229,169 (1) Net carrying amount at June 30, 2025 presented within total current liabilities in the unaudited condensed consolidated balance sheets.The effective interest rate of the 2026 Notes, excluding the conversion option, was 0.37% at June 30, 2025.The Company carries the 2026 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