Blackline Inc. (BL) Tops Q4 EPS by 13c, Revenues Beat; Offers 1Q & FY21 EPS Guidance Below Consensus, Provides 1Q & FY21 Revenue Outlook

Blackline Inc. (NASDAQ: BL) reported Q4 EPS of $0.21, $0.13 better than the analyst estimate of $0.08. Revenue for the quarter came in at $95.7 million versus the consensus estimate of $91.6 million.

Fourth Quarter 2020 Financial Highlights

• Total GAAP revenues of $95.7 million for the fourth quarter of 2020, an increase of 19% compared to the fourth quarter of 2019.
• GAAP net loss attributable to BlackLine of $17.0 million, or $0.30 per share, on 57.5 million weighted average shares outstanding, which compares to a GAAP net loss attributable to BlackLine of $9.2 million in the fourth quarter of 2019.
• Non-GAAP net income attributable to BlackLine of $13.1 million, or $0.21 per share, on 62.0 million diluted weighted average shares outstanding. This compares with non-GAAP net income attributable to BlackLine of $8.0 million in the fourth quarter of 2019.

Marc Huffman, CEO, commented, “I am incredibly proud of what BlackLine has been able to accomplish in 2020 as we continued to drive growth, scale the business, and expand our strong leadership position. In these difficult times we remain true to our founding principles to serve our customers which has strengthened our relationships and driven expansion of existing accounts. Our initiatives to support our customers, invest in key areas, and bring our expertise to market drove another quarter of strong results. The value we bring to market is resonating now more than ever with CFOs and Controllers who are looking to modernize their accounting processes and we believe our commitment to customer success will continue to serve as a differentiator for BlackLine.”

GUIDANCE:

Blackline Inc. sees Q1 2021 EPS of $0.04-$0.06, versus the consensus of $0.09. Blackline Inc. sees Q1 2021 revenue of $95.5-96.5 million, versus the consensus of $95.75 million.

Blackline Inc. sees FY2021 EPS of $0.38-$0.41, versus the consensus of $0.52. Blackline Inc. sees FY2021 revenue of $410-415 million, versus the consensus of $411.41 million.

First Quarter 2021

• Total GAAP revenue is expected to be in the range of $95.5 million to $96.5 million.
• Non-GAAP net income attributable to BlackLine is expected to be in the range of $2.5 million to $3.5 million, or $0.04 to $0.06 per share on 62.3 million diluted weighted average shares outstanding.

Full Year 2021

• Total GAAP revenue is expected to be in the range of $410 million to $415 million.
• Non-GAAP net income attributable to BlackLine is expected to be in the range of $24 million to $26 million, or $0.38 to $0.41 per share on 62.7 million diluted weighted average shares outstanding.

For earnings history and earnings-related data on Blackline Inc. (BL) click here.

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