Company: BL
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050628
Chunk: 16

Company: BLACKLINE, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 market prices for identical instruments in active markets. The valuation techniques used to measure the fair values of Level 2 instruments were derived from broker reports that utilized quoted market prices for similar instruments. Foreign currency forward contracts are classified within the Level 2 value hierarchy, as the valuation inputs are not actively traded, and the valuation inputs are based on quoted market prices for similar instruments, including currency spot and forward rates.

Note 8 – Convertible Senior Notes

2029 NotesAt September 30, 2025, the Company had $675.0 million aggregate principal amount of the 1.00% 2029 Notes (the “2029 Notes” and, together with the 2026 Notes (as defined below), the “Notes”) outstanding. The 2029 Notes consisted of the following (in thousands):September 30,2025December 31,2024Liability:Principal$675,000 $675,000 Unamortized debt issuance costs(9,597)(11,494)Net carrying amount$665,403 $663,506 The effective interest rate of the 2029 Notes, excluding the conversion option, was 1.40% at September 30, 2025.The Company carries the 2029 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 estimated fair value was determined based on the actual bids and offers of the 2029 Notes in an over-the-counter market on the last trading day of the period. The estimated fair value of the 2029 Notes, based on a market approach at September 30, 2025, was approximately $651.7 million, which represents a Level 2 valuation.

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During the quarter ended September 30, 2025, the Company recognized $0.6 million of interest expense related to the amortization of debt issuance costs and $1.7 million of coupon interest expense. During the quarter ended September 30, 2024, the Company recognized $0.6 million of interest expense related to the amortization of debt issuance costs and $1.7 million of coupon interest expense.During the nine months ended September 30, 2025, the Company recognized $1.9 million of interest expense related to the amortization of debt issuance costs and $5.1 million of coupon interest expense. During the nine months ended September 30, 202