BlackLine Shows Growth in Quarterly Report DebutFriday, February 24, 2017
BlackLine Inc. generated revenues of nearly $124 million in 2016, the company announced Friday in its first quarterly and full-year report as a public company.
The Woodland Hills accounting software company reported a net loss of $3.9 million (-8 cents a share) for the fourth quarter, the first fiscal period since its initial public offering on Oct. 28. Fourth-quarter revenues rose 47 percent year-over-year to nearly $40 million, the company said.
Net losses for the full year totaled $16.5 million (-39 cents a share). Revenue for the full year closed out 48 percent higher than in 2015.
“BlackLine is transforming the way accounting and finance works,” Chief Executive Therese Tucker said in a prepared statement. “Our reputation as a market leader and trusted advisor is driving increased adoption of our solutions around the globe.”
The company said it added 420 new customers during 2016, including 133 in the fourth quarter alone. BlackLine’s user base grew to nearly 167,000 individuals last year, the company said.
BlackLine (BL) shares closed Friday up 62 cents, or 2.1 percent, at $29.92 on the Nasdaq.