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Side-by-side financial comparison of BLACKLINE, INC. (BL) and PATHWARD FINANCIAL, INC. (CASH). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $173.1M, roughly 1.1× PATHWARD FINANCIAL, INC.). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 2.7%, a 17.6% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -0.2%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $26.1M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -18.0%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
BL vs CASH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $173.1M |
| Net Profit | $4.9M | $35.2M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 24.6% |
| Net Margin | 2.7% | 20.3% |
| Revenue YoY | 8.1% | -0.2% |
| Net Profit YoY | -91.3% | 11.9% |
| EPS (diluted) | $0.07 | $1.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.2M | $173.1M | ||
| Q3 25 | $178.3M | $186.7M | ||
| Q2 25 | $172.0M | $195.8M | ||
| Q1 25 | $166.9M | $274.8M | ||
| Q4 24 | $169.5M | $182.6M | ||
| Q3 24 | $165.9M | $179.5M | ||
| Q2 24 | $160.5M | $188.6M | ||
| Q1 24 | $157.5M | $257.6M |
| Q4 25 | $4.9M | $35.2M | ||
| Q3 25 | $5.3M | $38.8M | ||
| Q2 25 | $8.3M | $42.1M | ||
| Q1 25 | $6.1M | $75.0M | ||
| Q4 24 | $56.4M | $30.0M | ||
| Q3 24 | $17.2M | $33.5M | ||
| Q2 24 | $76.7M | $44.9M | ||
| Q1 24 | $10.8M | $69.9M |
| Q4 25 | 75.2% | — | ||
| Q3 25 | 75.1% | — | ||
| Q2 25 | 75.2% | — | ||
| Q1 25 | 75.5% | — | ||
| Q4 24 | 75.6% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 75.2% | — |
| Q4 25 | 3.7% | 24.6% | ||
| Q3 25 | 4.3% | 25.9% | ||
| Q2 25 | 4.4% | 24.1% | ||
| Q1 25 | 2.1% | 33.2% | ||
| Q4 24 | 3.7% | 19.8% | ||
| Q3 24 | 5.0% | 20.9% | ||
| Q2 24 | 1.4% | 27.1% | ||
| Q1 24 | 1.1% | 33.8% |
| Q4 25 | 2.7% | 20.3% | ||
| Q3 25 | 3.0% | 20.8% | ||
| Q2 25 | 4.8% | 21.5% | ||
| Q1 25 | 3.6% | 27.3% | ||
| Q4 24 | 33.3% | 16.4% | ||
| Q3 24 | 10.4% | 18.7% | ||
| Q2 24 | 47.8% | 23.8% | ||
| Q1 24 | 6.9% | 27.1% |
| Q4 25 | $0.07 | $1.57 | ||
| Q3 25 | $0.09 | $1.69 | ||
| Q2 25 | $0.13 | $1.81 | ||
| Q1 25 | $0.10 | $3.14 | ||
| Q4 24 | $0.79 | $1.23 | ||
| Q3 24 | $0.27 | $1.34 | ||
| Q2 24 | $0.22 | $1.78 | ||
| Q1 24 | $0.17 | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $390.0M | $331.2M |
| Total DebtLower is stronger | — | $33.5M |
| Stockholders' EquityBook value | $332.3M | $854.5M |
| Total Assets | $1.8B | $7.6B |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $331.2M | ||
| Q3 25 | $419.9M | $120.6M | ||
| Q2 25 | $459.1M | $258.3M | ||
| Q1 25 | $479.5M | $254.2M | ||
| Q4 24 | $885.9M | $597.4M | ||
| Q3 24 | $725.3M | $158.3M | ||
| Q2 24 | $616.6M | $298.9M | ||
| Q1 24 | $331.4M | $347.9M |
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $33.4M |
| Q4 25 | $332.3M | $854.5M | ||
| Q3 25 | $328.3M | $858.0M | ||
| Q2 25 | $414.0M | $819.0M | ||
| Q1 25 | $417.9M | $814.7M | ||
| Q4 24 | $446.7M | $758.3M | ||
| Q3 24 | $367.9M | $822.5M | ||
| Q2 24 | $325.8M | $748.4M | ||
| Q1 24 | $279.8M | $719.5M |
| Q4 25 | $1.8B | $7.6B | ||
| Q3 25 | $1.7B | $7.2B | ||
| Q2 25 | $1.8B | $7.2B | ||
| Q1 25 | $1.8B | $7.0B | ||
| Q4 24 | $1.8B | $7.6B | ||
| Q3 24 | $1.7B | $7.5B | ||
| Q2 24 | $1.9B | $7.5B | ||
| Q1 24 | $2.1B | $7.4B |
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× | ||
| Q1 24 | — | 0.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $26.7M | $108.3M |
| Free Cash FlowOCF − Capex | $26.1M | $104.1M |
| FCF MarginFCF / Revenue | 14.2% | 60.1% |
| Capex IntensityCapex / Revenue | 0.3% | 2.4% |
| Cash ConversionOCF / Net Profit | 5.46× | 3.08× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $616.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $108.3M | ||
| Q3 25 | $63.8M | $303.7M | ||
| Q2 25 | $32.3M | $30.4M | ||
| Q1 25 | $46.7M | $188.3M | ||
| Q4 24 | $43.8M | $-71.7M | ||
| Q3 24 | $55.9M | $143.1M | ||
| Q2 24 | $40.7M | $113.2M | ||
| Q1 24 | $50.4M | $203.0M |
| Q4 25 | $26.1M | $104.1M | ||
| Q3 25 | $63.3M | $300.3M | ||
| Q2 25 | $31.4M | $27.7M | ||
| Q1 25 | $40.8M | $184.7M | ||
| Q4 24 | $43.0M | $-73.8M | ||
| Q3 24 | $55.5M | $138.8M | ||
| Q2 24 | $40.0M | $111.0M | ||
| Q1 24 | $50.1M | $201.3M |
| Q4 25 | 14.2% | 60.1% | ||
| Q3 25 | 35.5% | 160.9% | ||
| Q2 25 | 18.2% | 14.1% | ||
| Q1 25 | 24.4% | 67.2% | ||
| Q4 24 | 25.4% | -40.4% | ||
| Q3 24 | 33.5% | 77.3% | ||
| Q2 24 | 24.9% | 58.8% | ||
| Q1 24 | 31.8% | 78.1% |
| Q4 25 | 0.3% | 2.4% | ||
| Q3 25 | 0.3% | 1.8% | ||
| Q2 25 | 0.6% | 1.4% | ||
| Q1 25 | 3.6% | 1.3% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.2% | 2.4% | ||
| Q2 24 | 0.4% | 1.2% | ||
| Q1 24 | 0.2% | 0.7% |
| Q4 25 | 5.46× | 3.08× | ||
| Q3 25 | 12.07× | 7.83× | ||
| Q2 25 | 3.90× | 0.72× | ||
| Q1 25 | 7.72× | 2.51× | ||
| Q4 24 | 0.78× | -2.39× | ||
| Q3 24 | 3.24× | 4.27× | ||
| Q2 24 | 0.53× | 2.52× | ||
| Q1 24 | 4.66× | 2.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
