Q2 2024 Blackline Inc Earnings Call Transcript
Key Points
- BlackLine Inc (BL) delivered $161 million in total revenue, a non-GAAP operating margin of 20%, and $43 million in non-GAAP net income.
- The company saw an increase in the number of customers with $1 million or more in annual recurring revenue, reaching 68.
- Strong performance in Europe and APAC, with notable new customer wins and expansions.
- Successful integration of the invoice-to-cash solution, leading to inclusion in the Gartner Magic Quadrant.
- Improved execution and focus on value-centric approaches have led to better competitive win rates and customer satisfaction.
- Total deal volume remains subdued, and new business sales cycles are extended.
- Services revenue growth was flat, continuing to weigh on overall top-line performance.
- Renewal rate was in line with expectations but below long-term targets, indicating room for improvement.
- Mid-market customer churn increased, impacting overall customer retention rates.
- Demand environment remains muted, with no significant tailwinds observed.
Good day and thank you for standing by. Welcome to the Q2 2024 BlackLine earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Matt Humphries, Vice President of Investor Relations. Please go ahead.
Good afternoon and thank you for joining us today. With me on the call are Owen Ryan and Therese Tucker, Co-Chief Executive Officers of BlackLine, as well as Mark Partin, Chief Financial Officer. Before we get started, I'd like to note that certain statements made during this conference call that are not historical facts, including those regarding our future plan, objectives, and expected performance, in particular our guidance for Q3 and full year 2024, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements represent our outlook only as of the date of this call. While we
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
