Company: BL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666134-25-000031
Chunk: 188

Company: BLACKLINE, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 188
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ies covering, subject to anti-dilution adjustments, approximately 6.9 million shares of our common stock, and are generally expected to offset the potential economic dilution of our common stock upon any conversions of the 2026 Notes up to the initial cap price. The 2026 Capped Calls have an initial strike price of $166.23 per share subject to certain adjustments, which corresponds to the initial conversion price of the 2026 Notes and an initial cap price of $233.31 per share, subject to certain adjustments. At June 30, 2025, all of the 2026 Capped Calls remained outstanding.

Lease Liabilities

At June 30, 2025, we have obligations totaling $27.1 million related to existing property and equipment leases.

Purchase Obligations

Purchase obligations represent our most significant contractual obligations in the ordinary course of business for which we have not received the related goods or services, in whole or in part. At June 30, 2025, we have $205 million of contractual obligations, with $64 million payable within 12 months, and have additional contractual obligations with other vendors that are individually immaterial and which we can readily settle given our liquidity position and capital resources.

Unrecognized Tax Liabilities

At June 30, 2025, while we have liabilities for unrecognized tax benefits of $19.6 million, due to their nature, there is a high degree of uncertainty regarding the timing of future cash outflows and other events that extinguish these liabilities.

Letters of Credit

Commitments under letters of credit at June 30, 2025 were scheduled to expire as follows (in thousands):

 TotalLess than 1 Year1-3 Years3-5 YearsThereafterLetters of credit$612 $171 $328 $113 $— 

Letters of credit are maintained pursuant to certain of our lease arrangements. The letters of credit remain in effect at varying levels through the terms of the related agreements.

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Repurchase Program

On November 17, 2024, our Board of Directors (the “Board”) authorized the repurchase of up to $200.0 million of our common stock. The authorization will expire at the end of the first quarter of fiscal year 2027. Repurchases may be made from time to time through open market repurchases or through privately-negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. Open market repurchases may be