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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Gogo Inc. (GOGO). Click either name above to swap in a different company.
Gogo Inc. is the larger business by last-quarter revenue ($230.6M vs $183.2M, roughly 1.3× BLACKLINE, INC.). BLACKLINE, INC. runs the higher net margin — 2.7% vs -4.3%, a 7.0% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs 8.1%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-25.4M). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs 7.9%).
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.
Gogo Inc. is an American provider of in-flight broadband Internet service and other connectivity services for business aircraft, headquartered in Broomfield, Colorado. Through its Gogo LLC subsidiary, Gogo previously provided in-flight WiFi to 17 airlines until the Commercial Air business was sold to Intelsat for $400 million in December 2020. According to Gogo, over 2,500 commercial aircraft and 6,600 business aircraft have been equipped with its onboard Wi-Fi services. The company is the de...
BL vs GOGO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $230.6M |
| Net Profit | $4.9M | $-10.0M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 6.2% |
| Net Margin | 2.7% | -4.3% |
| Revenue YoY | 8.1% | 67.3% |
| Net Profit YoY | -91.3% | 64.6% |
| EPS (diluted) | $0.07 | $-0.08 |
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 | $230.6M | ||
| Q3 25 | $178.3M | $223.6M | ||
| Q2 25 | $172.0M | $226.0M | ||
| Q1 25 | $166.9M | $230.3M | ||
| Q4 24 | $169.5M | $137.8M | ||
| Q3 24 | $165.9M | $100.5M | ||
| Q2 24 | $160.5M | $102.1M | ||
| Q1 24 | $157.5M | $104.3M |
| Q4 25 | $4.9M | $-10.0M | ||
| Q3 25 | $5.3M | $-1.9M | ||
| Q2 25 | $8.3M | $12.8M | ||
| Q1 25 | $6.1M | $12.0M | ||
| Q4 24 | $56.4M | $-28.2M | ||
| Q3 24 | $17.2M | $10.6M | ||
| Q2 24 | $76.7M | $839.0K | ||
| Q1 24 | $10.8M | $30.5M |
| Q4 25 | 75.2% | — | ||
| Q3 25 | 75.1% | — | ||
| Q2 25 | 75.2% | 87.8% | ||
| Q1 25 | 75.5% | 87.3% | ||
| Q4 24 | 75.6% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 75.2% | — |
| Q4 25 | 3.7% | 6.2% | ||
| Q3 25 | 4.3% | 12.9% | ||
| Q2 25 | 4.4% | 15.9% | ||
| Q1 25 | 2.1% | 15.3% | ||
| Q4 24 | 3.7% | -17.5% | ||
| Q3 24 | 5.0% | 19.0% | ||
| Q2 24 | 1.4% | 21.2% | ||
| Q1 24 | 1.1% | 33.2% |
| Q4 25 | 2.7% | -4.3% | ||
| Q3 25 | 3.0% | -0.9% | ||
| Q2 25 | 4.8% | 5.7% | ||
| Q1 25 | 3.6% | 5.2% | ||
| Q4 24 | 33.3% | -20.5% | ||
| Q3 24 | 10.4% | 10.6% | ||
| Q2 24 | 47.8% | 0.8% | ||
| Q1 24 | 6.9% | 29.2% |
| Q4 25 | $0.07 | $-0.08 | ||
| Q3 25 | $0.09 | $-0.01 | ||
| Q2 25 | $0.13 | $0.09 | ||
| Q1 25 | $0.10 | $0.09 | ||
| Q4 24 | $0.79 | $-0.22 | ||
| Q3 24 | $0.27 | $0.08 | ||
| Q2 24 | $0.22 | $0.01 | ||
| Q1 24 | $0.17 | $0.23 |
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 | $125.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $101.1M |
| Total Assets | $1.8B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $125.2M | ||
| Q3 25 | $419.9M | $133.6M | ||
| Q2 25 | $459.1M | $102.1M | ||
| Q1 25 | $479.5M | $70.3M | ||
| Q4 24 | $885.9M | $41.8M | ||
| Q3 24 | $725.3M | $176.7M | ||
| Q2 24 | $616.6M | $161.6M | ||
| Q1 24 | $331.4M | $152.8M |
| Q4 25 | $332.3M | $101.1M | ||
| Q3 25 | $328.3M | $107.0M | ||
| Q2 25 | $414.0M | $102.8M | ||
| Q1 25 | $417.9M | $82.9M | ||
| Q4 24 | $446.7M | $69.3M | ||
| Q3 24 | $367.9M | $52.7M | ||
| Q2 24 | $325.8M | $52.0M | ||
| Q1 24 | $279.8M | $62.4M |
| Q4 25 | $1.8B | $1.3B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.7B | $810.7M | ||
| Q2 24 | $1.9B | $802.7M | ||
| Q1 24 | $2.1B | $809.0M |
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 | $8.5M |
| Free Cash FlowOCF − Capex | $26.1M | $-25.4M |
| FCF MarginFCF / Revenue | 14.2% | -11.0% |
| Capex IntensityCapex / Revenue | 0.3% | 14.7% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $65.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $8.5M | ||
| Q3 25 | $63.8M | $46.8M | ||
| Q2 25 | $32.3M | $36.7M | ||
| Q1 25 | $46.7M | $32.5M | ||
| Q4 24 | $43.8M | $-38.3M | ||
| Q3 24 | $55.9M | $25.1M | ||
| Q2 24 | $40.7M | $24.9M | ||
| Q1 24 | $50.4M | $29.7M |
| Q4 25 | $26.1M | $-25.4M | ||
| Q3 25 | $63.3M | $27.3M | ||
| Q2 25 | $31.4M | $33.5M | ||
| Q1 25 | $40.8M | $29.7M | ||
| Q4 24 | $43.0M | $-42.6M | ||
| Q3 24 | $55.5M | $20.7M | ||
| Q2 24 | $40.0M | $21.6M | ||
| Q1 24 | $50.1M | $28.2M |
| Q4 25 | 14.2% | -11.0% | ||
| Q3 25 | 35.5% | 12.2% | ||
| Q2 25 | 18.2% | 14.8% | ||
| Q1 25 | 24.4% | 12.9% | ||
| Q4 24 | 25.4% | -30.9% | ||
| Q3 24 | 33.5% | 20.6% | ||
| Q2 24 | 24.9% | 21.1% | ||
| Q1 24 | 31.8% | 27.0% |
| Q4 25 | 0.3% | 14.7% | ||
| Q3 25 | 0.3% | 8.7% | ||
| Q2 25 | 0.6% | 1.4% | ||
| Q1 25 | 3.6% | 1.2% | ||
| Q4 24 | 0.4% | 3.1% | ||
| Q3 24 | 0.2% | 4.4% | ||
| Q2 24 | 0.4% | 3.3% | ||
| Q1 24 | 0.2% | 1.4% |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | 2.87× | ||
| Q1 25 | 7.72× | 2.70× | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | 2.36× | ||
| Q2 24 | 0.53× | 29.74× | ||
| Q1 24 | 4.66× | 0.97× |
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% |
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
