Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 160

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 160
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 the lower of 85% of the fair value of the stock at the time of grant or 85% of the fair value at the time of exercise. The right to purchase shares is granted twice yearly for six month offering periods in May and November and exercisable on or about the succeeding November and May, respectively, of each year. Under the ESPP, 0.6 million shares remained available for issuance at December 31, 2024. The Company recognized stock-based compensation expense related to the ESPP of $3.2 million, $3.3 million, and $3.3 million for the years ended December 31, 2024, 2023, and 2022, respectively.The fair value of ESPP shares granted was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:Year Ended December 31,202420232022Risk-free interest rate4.4% - 5.4%4.5% - 5.4%1.4% - 4.5%Expected term (in years)0.5 - 10.5 - 10.5 - 1Volatility33.4% - 41.5%39.8% - 58.5%39.3% - 65.5%At December 31, 2024, total unrecognized compensation cost related to the 2018 ESPP was $2.1 million and was expected to be recognized over a weighted-average period of approximately one year.Stock-based compensation expenseStock-based compensation expense recorded in the Company’s consolidated statements of operations was as follows (in thousands):Year Ended December 31,202420232022Cost of revenues$10,501 $10,342 $8,595 Sales and marketing25,428 24,152 26,310 Research and development13,345 13,095 14,382 General and administrative33,977 30,381 26,597 $83,251 $77,970 $75,884 Stock-based compensation capitalized as an asset was $4.5 million, $3.5 million, and $2.4 million during the years ended December 31, 2024, 2023, and 2022, respectively.The Company recorded $0.8 million of foreign tax provisions attributable to equity awards for the year ended December 31, 2024, and $0.1 million and $0.1