Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 102

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 102
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 and

•$1.1 million decrease in accounts payable due to timing of payments.

For the year ended December 31, 2023, cash provided by operating activities was $126.6 million, resulting from net non-cash expenses of $71.9 million and net income of $59.1 million, partially offset by a net cash outflow from changes in operating assets and liabilities of $4.4 million. The $4.4 million net cash outflow from changes in our operating assets and liabilities reflected the following:

•$20.9 million increase in accounts receivable due to increased sales, partially offset by customer payments;

•$7.2 million decrease in operating lease liabilities;

•$6.6 million increase in prepaid expenses and other current assets primarily due to increased insurance and software subscriptions, higher accrued interest, and increased capitalized commissions, partially offset by amortization of prepaid balances and interest received;

•$5.1 million decrease in accounts payable due to timing of payments;

•$2.4 million paid for the 2013 Acquisition contingent consideration in excess of the acquisition date fair value (refer to “Note 16 - Contingent Consideration” for additional information);

•$2.3 million decrease in other long-term liabilities primarily related to the FourQ Acquisition; and

•$0.6 million increase in other assets due to increased prepaid commissions, partially offset by related amortization.

These changes in our operating assets and liabilities were partially offset by a $41.3 million increase in deferred revenue primarily due to customer and user growth and timing of collections. 

Net Cash Provided By (Used In) Investing Activities

Our investing activities consist primarily of investments in, and maturities and sales of marketable securities, capitalized software development costs, acquisitions of business entities, and capital expenditures for property and equipment.

For the year ended December 31, 2024, cash provided by investing activities was $924.4 million, primarily as a result of the following: 

•$951.3 million of proceeds from maturities and sales, net of purchases of marketable securities; partially offset by

•$24.7 million for capitalized software development costs; and

•$2.1 million in purchases of property and equipment.

For the year ended December 31, 2023, cash used in investing activities was $62.5 million as a result of the following: 

•$23.5 million of purchases of marketable securities, net of proceeds from maturities;