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BLACKLINE BlackLine Announces First Quarter Financial Results LOS ANGELES , May 06 , 2021 ( GLOBE NEWSWIRE ) BlackLine , Inc. ( Nasdaq : BL ) , today announced financial results for the first quarter ended March 31 , 2021 . Marc Huffman , CEO , commented , " We had a strong start to the year as companies increasingly prioritized digital finance transformation and turned to BlackLine to guide their journeys . During the year end close period , with the remote work environment continuing , BlackLine customers streamlined their processes by using our platform to automate workflows . On a macro level , we saw broad - based demand returning with increasing momentum across all areas of the business . The value we bring to market is resonating now more than ever and we believe our commitment to customer success will continue to serve as a differentiator for BlackLine . " First Quarter 2021 Financial Highlights • Total GAAP revenues of $ 98.9 million for the first quarter of 2021 , an increase of 20 % compared to the first quarter of 2020 . • GAAP net loss attributable to BlackLine of $ 39.0 million , or $ 0.67 per share , on 57.9 million weighted average shares outstanding , which compares to a GAAP net loss attributable to BlackLine of $ 12.8 million in the first quarter of 2020 . • Non - GAAP net income attributable to BlackLine of $ 7.1 million , or $ 0.11 per share , on 62.9 million diluted weighted average shares outstanding . This compares with non - GAAP net income attributable to BlackLine of $ 6.0 million in the first quarter of 2020 . ● Operating cash flow of $ 28.5 million , compared to $ 8.5 million in the first quarter of 2020 . • Free cash flow of $ 23.2 million , compared to $ 4.9 million in the first quarter of 2020 . Key Metrics and Recent Business Highlights • Added 49 net new customers in the first quarter for a total of 3,482 customers at March 31 , 2021 . • Expanded the company's user base to 297,060 at March 31 , 2021 . • Achieved a dollar - based net revenue retention rate of 106 % at March 31 , 2021 . • Released BlackLine AR Intelligence , an accounts receivable automation tool that optimizes working capital and improves collections forecasting . • Raised capital through the issuance of $ 1.15 billion of convertible debt . • Ranked first for Financial Close software in the enterprise category for G2's list of the ' Best Finance Products of 2021 ' . • Received SAP EMEA North Award for Partner Excellence 2021 for Solution Extension - Growth . • Added Lisa Schreiber , SaaS and enterprise software veteran , as chief customer officer . • Appointed Apple inclusion and diversity executive , Barbara Whye , to BlackLine's Board of Directors . The financial results included in this press release are preliminary and pending final review . Financial results will not be final until BlackLine files its Quarterly Report on Form 10 - Q for the period . Information about BlackLine's use of non - GAAP financial measures is provided below under " Use of Non - GAAP Financial Measures . " Financial Outlook Second Quarter 2021 • Total GAAP revenue is expected to be in the range of $ 100.5 million to $ 101.5 million . • Non - GAAP net income attributable to BlackLine is expected to be in the range of $ 4.5 million to $ 5.5 million , or $ 0.07 to $ 0.09 per share on 62.7 million diluted weighted average shares outstanding . Full Year 2021 • Total GAAP revenue is expected to be in the range of $ 415 million to $ 420 million . • Non - GAAP net income attributable to BlackLine is expected to be in the range of $ 27 million to $ 29 million , or $ 0.43 to $ 0.46 per share on 62.8 million diluted weighted average shares outstanding .