Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 9, 2025

_______________________________

BLACKLINE, INC.

(Exact name of registrant as specified in its charter)

_______________________________

Delaware	001-37924	46-3354276
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

21300 Victory Boulevard, 12th Floor

Woodland Hills, California 91367

(Address of Principal Executive Offices) (Zip Code)

(818) 223-9008

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	BL	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On January 13, 2025, BlackLine, Inc. (the “Company”) announced preliminary financial results for the fourth quarter ending December 31, 2024.

The information furnished pursuant to Item 2.02 on this Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 13, 2025, the Company announced that Mark Woodhams, Chief Revenue Officer of the Company, will retire from the Company, effective June 2, 2025. The Company also announced that Stuart Van Houten will join the Company as Chief Commercial Officer, effective February 17, 2025, leading the Company’s global sales organization and revenue operations. At that time, he will assume Mr. Woodhams’ role as head of the global sales team.

Under the circumstances of his retirement and departure of the Company, Mr. Woodhams is entitled to severance benefits under the Company’s Change in Control and Severance Policy (the “Severance Policy”) upon his departure. In addition to the benefits under the Severance Policy, Mr. Woodhams will receive additional cash compensation of $80,000 in relocation benefits, with all such payments and benefits subject to execution of a release of claims in favor of the Company and other released parties, and complying with various post-employment obligations. The terms and conditions of the severance otherwise are consistent with the Severance Policy. Mr. Woodhams’ current compensation arrangements will continue until his retirement date.

A copy of the related press release announcing the appointment of Mr. Van Houten and Mr. Woodhams’ retirement is attached hereto as Exhibit 99.1

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description

99.1		Press Release issued by BlackLine dated January 13, 2025.
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL) document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BLACKLINE, INC.


Date: January 13, 2025	By:	/s/ Karole Morgan-Prager
		Karole Morgan-Prager
		Chief Legal and Administrative Officer

EXHIBIT 99.1

BlackLine Appoints Stuart Van Houten as Chief Commercial Officer

Stuart Van Houten, Will Join BlackLine Effective February 17, 2025, and Succeed Mark Woodhams as Head of Global Sales Team

BlackLine Expects Fourth Quarter and Full Year 2024 Revenue to Meet or Slightly Exceed High End of Guidance Range; Reaffirms Non-GAAP Operating Margin Guidance

LOS ANGELES, Jan. 13, 2025 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL) (“BlackLine” or the “Company”), the future-ready platform for the Office of the CFO, today announced that Stuart Van Houten, a seasoned technology and enterprise SaaS veteran, will assume the newly created role of Chief Commercial Officer on February 17, 2025. Mr. Van Houten will be responsible for leading the Company’s global sales organization and revenue operations. He will succeed BlackLine’s current Chief Revenue Officer, Mark Woodhams, as head of the global sales team. Mr. Woodhams will retire effective June 2^nd.

Mr. Van Houten brings over 20 years of sales leadership and strategic expertise to BlackLine, with nearly a decade spent in roles of increasing responsibility at SAP. Most recently, he has served as the Chief Revenue Officer for SAP’s North American Intelligent Spend Management division, where he successfully doubled the division’s revenue during his tenure. At SAP, he has led a high-performing team of hundreds of professionals across sales, customer success, solution and value advisory, in delivering innovation and fostering strong client relationships. Mr. Van Houten has also held transformative leadership roles at Orchestro, Clarabridge, and GridPoint, where he scaled revenues, built global teams, and spearheaded successful transitions to SaaS models.

"We are incredibly excited to welcome Stuart to BlackLine. His experience accelerating growth and leading large sales teams make him a perfect fit for BlackLine and where we are in our transformation. We also want to recognize Mark and, on behalf of our Board of Directors and executive leadership team, thank him for his valuable contributions to BlackLine for almost seven years. We wish him all the best and thank him for helping to ensure a smooth transition,” said Therese Tucker, Co-CEO and Founder of BlackLine.

“At our November Investor Day, we presented our refined strategy centered on accelerating platform innovation, while expanding our market reach, with particular focus on strategic partnerships, including SAP," said Owen Ryan, Co-CEO and Chairman of BlackLine. “Stuart's appointment is expected to accelerate this momentum, bringing his deep expertise in enterprise technology partnerships and industry-specific solutions to drive immediate impact."

“I’ve seen firsthand how compelling the BlackLine offering is, and it is exciting to join this team at this pivotal moment,” said Mr. Van Houten. “I think Owen and Therese have re-energized BlackLine and strengthened its position in the market. The Office of the CFO is at the center of technology transformation, where flawless execution is the goal, and return on investment must be demonstrated. I’m confident the BlackLine offering and this team have substantial runway for growth and are poised for incredible success.”

BlackLine also announced that it expects fourth quarter and full year 2024 revenue to meet or slightly exceed the high end of its previously disclosed guidance range. The Company also expects non-GAAP operating margin to be within the guidance range for the fourth quarter and the full year 2024. The previously disclosed ranges are below:

Previously Disclosed Fourth Quarter 2024 Guidance

Total GAAP revenue is expected to be in the range of $167 million to $169 million.
Non-GAAP operating margin is expected to be in the range of 18.0% to 19.0%.

Previously Disclosed Full Year 2024 Guidance

Total GAAP revenue is expected to be in the range of $651.0 million to $653.0 million.
Non-GAAP operating margin is expected to be in the range of 19.4% to 19.6%.

The preliminary estimated financial results for the fourth quarter ended December 31, 2024 are preliminary, unaudited and subject to completion, and may change as a result of management's continued review. Such preliminary results are subject to the finalization of quarter and year-end financial and accounting procedures.

About BlackLine

BlackLine (Nasdaq: BL), the future-ready platform for the Office of the CFO, drives digital finance transformation by empowering organizations with accurate, efficient, and intelligent financial operations. BlackLine’s comprehensive platform addresses mission-critical processes, including record-to-report and invoice-to-cash, enabling unified and accurate data, streamlined and optimized processes, and real-time insight through visibility, automation, and AI. BlackLine’s proven, collaborative approach ensures continuous transformation, delivering immediate impact and sustained value. With a proven track record of innovation, industry-leading R&D investment, and world-class security practices, more than 4,400 customers across multiple industries partner with BlackLine to lead their organizations into the future.

For more information, please visit blackline.com.

Forward-looking Statements

This release may 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 include statements regarding our growth plans, strategies and opportunities, our expected financial results for the fourth quarter and full year ended December 31, 2024 and trends in our business.

Any forward-looking statements contained in this press release are based upon BlackLine’s 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 and/or management’s 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. These risks and uncertainties include, but are not limited to, risks related to the Company’s ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading “Risk Factors” in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q.

Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Media Contact:
Samantha Darilek
samantha.darilek@blackline.com

Investor Relations Contact:
Matt Humphries, CFA
matt.humphries@blackline.com

Cover	Jan. 09, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 09, 2025
Entity File Number	001-37924
Entity Registrant Name	BLACKLINE, INC.
Entity Central Index Key	0001666134
Entity Tax Identification Number	46-3354276
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	21300 Victory Boulevard, 12th Floor
Entity Address, City or Town	Woodland Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91367
City Area Code	818
Local Phone Number	223-9008
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BL
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false