Overview

* BlackLine ( BL ) Q2 GAAP revenue rises 7%, beating analyst expectations, per LSEG data

* Non-GAAP operating margin improves to 22.1%, driven by strategic initiatives

* Co repurchased 0.8 mln shares for $43.3 mln, $111.2 mln buyback capacity remains

Outlook

* BlackLine ( BL ) expects Q3 revenue between $177 mln and $179 mln

* Company anticipates Q3 non-GAAP operating margin of 20% to 21%

* BlackLine ( BL ) sees full-year revenue between $696 mln and $705 mln

* Company projects full-year non-GAAP net income of $159 mln to $167 mln

Result Drivers

* STUDIO360 PLATFORM - Delivery of Studio360 platform contributed to Q2 performance, per Co-CEO Owen Ryan

* PRICING STRATEGY - Adoption of new pricing strategy supported revenue growth, according to Co-CEO Owen Ryan

* PARTNER NETWORK - Enhanced partner network played a key role in driving qtr performance, says Co-CEO Owen Ryan

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $172.02 $170.80

Revenue mln mln (13

Analysts

)

Q2 EPS $0.13

Q2 Net $7.39

Income mln

Q2 Gross $129.40

Profit mln

Q2 $121.86

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for BlackLine Inc ( BL ) is $58.00, about 7.8% above its August 4 closing price of $53.50

* The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 23 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)