Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 27

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
 customer relationships will depend, in part, on the willingness of the customer to purchase additional user licenses and products from us. We rely on our customer success and sales teams to support and grow our existing customers by maintaining high customer satisfaction and educating the customer on the value our products provide.

Number of customers. We believe that our ability to expand our customer base is an indicator of our market penetration and the growth of our business. We define a customer as a company that contributes to our subscription and support revenue as of the measurement date. In situations where an organization has multiple subsidiaries or divisions, each entity that is invoiced as a separate entity is treated as a separate customer. However, where an existing customer requests its invoice be divided for the sole purpose of restructuring its internal billing arrangement without any incremental increase in revenue, such customer continues to be treated as a single customer. For the quarters and six months ended June 30, 2025 and 2024, no single customer accounted for more than 10% of our total revenues.

Number of users. As the vast majority of our customers generally pay fees based on the number of users on our platform within their organization, we believe that the total number of users continues to be an indicator of the status of our business. We anticipate that in the future, we will see a higher volume of customers on our updated pricing models that are based on other factors including product mix, customer size, and volumetrics, such as transactions or entities.

Non-GAAP Financial Measures

In addition to our results determined in accordance with GAAP, we believe the non-GAAP measures below are useful to us and our investors in evaluating our business. These non-GAAP financial measures are useful because they provide consistency and comparability with our past performance, facilitate period-to-period comparisons of operations and facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.

Quarter Ended June 30,Six Months Ended June 30,2025202420252024(in thousands, except percentages)GAAP gross profit$129,403 $120,158 $255,410 $238,522 GAAP gross margin75.2%74.9%75.4%75.0%GAAP operating income$7,545 $2,208 $11,120 $3,956 GAAP operating margin4.4%1.4%3.3%1.2%GAAP net income attributable to BlackLine, Inc.$8,