The Secret to BlackLine's Success
BlackLine (NASDAQ: BL) is a cloud-based, software-as-a-service (SaaS) company that automates accounting processes that have traditionally been labor-intensive and tedious. BlackLine's products also allow enterprises to have access to real-time data, rather than wait for monthly or quarterly reconciliations.
When the company recently reported its 2019 second-quarter earnings, shares jumped on the news, trading up more than 31% the day after the results were released. In Q2, revenue rose to $69.7 million, a 26% increase year over year, and non-GAAP net income grew to $6.1 million, a 1,120% increase year over year (though it should be pointed out that the percentage looks so gaudy due to the incredibly small base it was growing from in last year's second quarter). The company's adjusted gross margin for the quarter was 82.7%.
BlackLine automates several tedious accounting practices. Image source: Getty Images.
Source Fool.com
