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BlackLine Q1 loss widens 58.7% YOY

BlackLine Inc. said its first-quarter normalized net income came to a loss of 16 cents per share, compared with a loss of 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.6 million, compared with a loss of $4.2 million in the prior-year period.

The normalized profit margin dropped to negative 25.1% from negative 23.1% in the year-earlier period.

Total revenue increased 47.2% on an annual basis to $26.6 million from $18.0 million, and total operating expenses grew 51.4% year over year to $36.3 million from $24.0 million.

Reported net income totaled a loss of $9.3 million, or a loss of 23 cents per share, compared to a loss of $4.3 million, or a loss of 11 cents per share, in the year-earlier period.