Blackline Delivers Q4 That Was Solid By Any Measure

Bhavan Suri of William Blair reiterated his Outperform rating on Blackline Inc BL after the company reported above consensus fourth quarter results.

Following is a gist of Blackline’s results:

• BlackLine Reports Q4 Adj. EPS $(0.08) vs $(0.12) Est., Sales $35.3M vs $34.13M Est.
• BlackLine Sees Q1 Adj. EPS $(0.10)-$(0.08) vs $(0.13) Est., Sales $36.8M-$37.8M vs $35.5M Est.
• BlackLine Sees FY17 Adj. EPS $(0.35)-$(0.31) vs $(0.42) Est., Sales $166.5M-$169.5M vs $160.8M Est.

Related Link: Blackline's Long-Term Growth Prospects Are Above Average

Suri says the results shows healthy underlying business momentum as Blackline delivered upside of $1.3 million on subscription revenue, $1.8 million on total revenue, and $1.8 million on net income. In addition, calculated billings rose 62 percent to $48.9 million.

The financial software company also guided first quarter and fiscal 2017 above Street.

“All in, we believe BlackLine posted a strong quarter,” Suri wrote in a note.

Shares of Blackline closed Thursday’s trading at $29.30.