 LOS ANGELES, Aug. 06, 2020 GLOBE NEWSWIRE -- BlackLine, Inc. Nasdaq: BL, today announced financial results for the second quarter ended June 30, 2020. Therese Tucker, Founder and CEO, commented, We posted better than expected Q2 results as the demand environment improved in the quarter and companies around the globe once again began to prioritize mission critical initiatives. BlackLines solutions are helping customers navigate the challenges of managing traditionally manual processes in a virtual world. We are pleased many are taking advantage of our outreach programs spanning education, training and development to coaching sessions with subject matter experts. As COVID continues to create challenges for companies around the globe, we believe we are in a unique position to guide finance leaders through the investment in automation and transformation to best prepare their organizations for the future of work with changes that will outlast the pandemic. Second Quarter 2020 Financial Highlights Total GAAP revenues of 83.3 million for the second quarter of 2020, an increase of 20 compared to the second quarter of 2019. GAAP net loss attributable to BlackLine of 8.3 million, or 0.15 per share, on 56.6 million weighted average shares outstanding, which compares to a GAAP net loss attributable to BlackLine of 5.4 million in the second quarter of 2019. Non-GAAP net income attributable to BlackLine of 11.9 million, or 0.20 per share, on 60.6 million diluted weighted average shares outstanding. This compares with non-GAAP net income attributable to BlackLine of 6.0 million in the second quarter of 2019. Operating cash flow of 9.6 million, compared to 8.6 million in the second quarter of 2019. Free cash flow of 3.5 million, compared to 6.2 million in the second quarter of 2019.Key Metrics and Recent Business Highlights Added 82 net new customers in the second quarter for a total of 3,138 customers at June 30, 2020. Expanded the companys user base to 277,426 at June 30, 2020. Achieved a dollar-based net revenue retention rate of 108 at June 30, 2020. Unveiled COVID-19 quick-deployment remote audit package to help customers prepare for first-time remote audits. Recognized as a 2020 Top Rated Award in the Financial Close category from TrustRadius. Named a Top SaaS provider in Software Magazines annual ranking of the worlds largest software companies for a ninth consecutive year. Announced global strategic alliance with Capgemini to enable organizations around the globe to optimize their finance and accounting processes.Financial OutlookThird Quarter 2020 Total GAAP revenue is expected to be in the range of 84.5 million to 85.5 million. Non-GAAP net income attributable to BlackLine is expected to be in the range of 6.5 million to 7.5 million, or 0.11 to 0.12 per share on 61.5 million diluted weighted average shares outstanding.Full Year 2020 Total GAAP revenue is expected to be in the range of 335.5 million to 338.5 million. Non-GAAP net income attributable to BlackLine is expected to be in the range of 27.5 million to 29.5 million, or 0.45 to 0.49 per share on 60.8 million diluted weighted average shares outstanding.Guidance for non-GAAP net income attributable to BlackLine and net income attributable to BlackLine per share does not include the impact of the benefit from income taxes that we were able to recognize as a result of the deferred tax liabilities associated with the intangible assets established upon the acquisition in the fourth quarter of 2016 of Runbook B.V. the Runbook Acquisition, amortization of acquired intangible assets primarily resulting from the acquisition of the company by its principal stockholders in 2013 the 2013 Acquisition and the Runbook Acquisition, stock-based compensation, the amortization of debt discount and issuance costs, the change in fair value of contingent consideration, costs incurred with our shelf offering, and the adjustment to the value of the redeemable non-controlling interest to the redemption amount. Reconciliations of non-GAAP net income attributable to BlackLine and net income attributable to BlackLine per share guidance to the most directly comparable U.S. GAAP measures, or net income loss attributable to BlackLine and net income loss attributable to BlackLine per share, are not available on a forward-looking basis without unreasonable efforts due to the unpredictability and complexity of the charges excluded from non-GAAP net income attributable to BlackLine and net income attributable to BlackLine per share. The company expects the variability of the above changes could have a significant, and potentially unpredictable, impact on its future GAAP net income loss attributable to BlackLine and net income loss attributable to BlackLine per share.Quarterly Conference Call BlackLine, Inc. will hold a conference call to discuss its second quarter results at 2:00 p.m. Pacific time on Thursday, August 6, 2020. A live audio webcast will be accessible on BlackLines investor relations website at The call can also be accessed domestically at 844 229-7595 and internationally at 314 888-4260, passcode 8896959. A telephonic replay will be available through Thursday, August 13, 2020 at 855 859-2056 or 404 537-3406, passcode 8896959. A replay of the webcast will be available at for 12 months. BlackLine has used, and intends to continue to use, its Investor Relations website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.About BlackLine Companies come to BlackLine, Inc. Nasdaq: BL because their traditional manual accounting processes are not sustainable. BlackLines cloud-based solutions and market-leading customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions for financial close management, accounting automation, and intercompany governance, helping large enterprises and midsize companies across all industries do accounting work better, faster, and with more control.More than 3,100 customers trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer and recognized Leader in Gartners 2019 Magic Quadrant for Cloud Financial Close Solutions. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore, and Sydney. For more information, please visit blackline.com.Forward-looking Statements This release and the conference call referenced above contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as may, will, should, could, expect, plan, anticipate, believe, estimate, predict, intend, potential, would, continue, ongoing or the negative of these terms or other comparable terminology. Forward-looking statements in this release and quarterly conference call include, but are not limited to, statements regarding BlackLines future financial and operational performance, including, without limitation, GAAP and non-GAAP guidance for the third quarter of 2020, our expectations for our business in 2020, including the demand environment and BlackLines market position, the impact of the COVID-19 pandemic on our business, our market and our industry, including expected delays in deals in EMEA and the North American mid-market, expected delays in large digital transformation deals, decreased services revenue due to the delayed implementation of projects, expected delays in deals coming from our SAP relationship, certain expected savings due to COVID-19 cost reductions, extended billing and payment terms for customers impacted by COVID-19, decreased sales initiatives in industries most impacted by COVID-19 and expectations regarding COVID-19 customer relief programs, our ability to execute on our long-term plans and key initiatives, expectations regarding user count, billings, free cash flow, revenue mix, gross margin, operating expenses, working capital, capital expenditures, and investments in teams and infrastructure, market opportunity, competitive position, the demand for and benefits from the use of BlackLines current and future solutions, growth strategies including customer growth, extension of distribution channels, sales strategy and product innovation, expansion of relationships with partners and customer service initiatives.Any forward-looking statements contained in this press release or the quarterly conference call are based upon BlackLines historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made andor managements good faith beliefs and assumptions as of that time with respect to future events, and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward looking statements. 