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Side-by-side financial comparison of BLACKLINE, INC. (BL) and IMAX CORP (IMAX). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $125.2M, roughly 1.5× IMAX CORP). BLACKLINE, INC. runs the higher net margin — 2.7% vs 0.5%, a 2.2% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 8.1%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $26.1M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% 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.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
BL vs IMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $125.2M |
| Net Profit | $4.9M | $637.0K |
| Gross Margin | 75.2% | 57.6% |
| Operating Margin | 3.7% | 19.3% |
| Net Margin | 2.7% | 0.5% |
| Revenue YoY | 8.1% | 35.1% |
| Net Profit YoY | -91.3% | -88.0% |
| EPS (diluted) | $0.07 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $178.3M | $106.7M | ||
| Q2 25 | $172.0M | $91.7M | ||
| Q1 25 | $166.9M | $86.7M | ||
| Q4 24 | $169.5M | $92.7M | ||
| Q3 24 | $165.9M | $91.5M | ||
| Q2 24 | $160.5M | $89.0M | ||
| Q1 24 | $157.5M | $79.1M |
| Q4 25 | $4.9M | $637.0K | ||
| Q3 25 | $5.3M | $20.7M | ||
| Q2 25 | $8.3M | $11.3M | ||
| Q1 25 | $6.1M | $2.3M | ||
| Q4 24 | $56.4M | $5.3M | ||
| Q3 24 | $17.2M | $13.9M | ||
| Q2 24 | $76.7M | $3.6M | ||
| Q1 24 | $10.8M | $3.3M |
| Q4 25 | 75.2% | 57.6% | ||
| Q3 25 | 75.1% | 63.1% | ||
| Q2 25 | 75.2% | 58.5% | ||
| Q1 25 | 75.5% | 61.4% | ||
| Q4 24 | 75.6% | 52.2% | ||
| Q3 24 | 75.2% | 55.8% | ||
| Q2 24 | 74.9% | 49.4% | ||
| Q1 24 | 75.2% | 59.3% |
| Q4 25 | 3.7% | 19.3% | ||
| Q3 25 | 4.3% | 27.2% | ||
| Q2 25 | 4.4% | 15.6% | ||
| Q1 25 | 2.1% | 19.3% | ||
| Q4 24 | 3.7% | 10.3% | ||
| Q3 24 | 5.0% | 21.2% | ||
| Q2 24 | 1.4% | 3.2% | ||
| Q1 24 | 1.1% | 15.3% |
| Q4 25 | 2.7% | 0.5% | ||
| Q3 25 | 3.0% | 19.4% | ||
| Q2 25 | 4.8% | 12.3% | ||
| Q1 25 | 3.6% | 2.7% | ||
| Q4 24 | 33.3% | 5.7% | ||
| Q3 24 | 10.4% | 15.2% | ||
| Q2 24 | 47.8% | 4.0% | ||
| Q1 24 | 6.9% | 4.1% |
| Q4 25 | $0.07 | $0.02 | ||
| Q3 25 | $0.09 | $0.37 | ||
| Q2 25 | $0.13 | $0.20 | ||
| Q1 25 | $0.10 | $0.04 | ||
| Q4 24 | $0.79 | $0.09 | ||
| Q3 24 | $0.27 | $0.26 | ||
| Q2 24 | $0.22 | $0.07 | ||
| Q1 24 | $0.17 | $0.06 |
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 | $151.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $337.9M |
| Total Assets | $1.8B | $894.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $151.2M | ||
| Q3 25 | $419.9M | $143.1M | ||
| Q2 25 | $459.1M | $109.3M | ||
| Q1 25 | $479.5M | $97.1M | ||
| Q4 24 | $885.9M | $100.6M | ||
| Q3 24 | $725.3M | $104.5M | ||
| Q2 24 | $616.6M | $91.6M | ||
| Q1 24 | $331.4M | $81.0M |
| Q4 25 | $332.3M | $337.9M | ||
| Q3 25 | $328.3M | $349.5M | ||
| Q2 25 | $414.0M | $320.4M | ||
| Q1 25 | $417.9M | $299.5M | ||
| Q4 24 | $446.7M | $299.5M | ||
| Q3 24 | $367.9M | $289.4M | ||
| Q2 24 | $325.8M | $267.2M | ||
| Q1 24 | $279.8M | $258.8M |
| Q4 25 | $1.8B | $894.0M | ||
| Q3 25 | $1.7B | $889.6M | ||
| Q2 25 | $1.8B | $868.6M | ||
| Q1 25 | $1.8B | $848.3M | ||
| Q4 24 | $1.8B | $830.4M | ||
| Q3 24 | $1.7B | $847.6M | ||
| Q2 24 | $1.9B | $827.4M | ||
| Q1 24 | $2.1B | $824.1M |
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 | $29.4M |
| Free Cash FlowOCF − Capex | $26.1M | $28.0M |
| FCF MarginFCF / Revenue | 14.2% | 22.3% |
| Capex IntensityCapex / Revenue | 0.3% | 1.1% |
| Cash ConversionOCF / Net Profit | 5.46× | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $29.4M | ||
| Q3 25 | $63.8M | $67.5M | ||
| Q2 25 | $32.3M | $23.2M | ||
| Q1 25 | $46.7M | $7.0M | ||
| Q4 24 | $43.8M | $11.5M | ||
| Q3 24 | $55.9M | $35.3M | ||
| Q2 24 | $40.7M | $35.0M | ||
| Q1 24 | $50.4M | $-11.0M |
| Q4 25 | $26.1M | $28.0M | ||
| Q3 25 | $63.3M | $64.8M | ||
| Q2 25 | $31.4M | $20.9M | ||
| Q1 25 | $40.8M | $5.3M | ||
| Q4 24 | $43.0M | $6.9M | ||
| Q3 24 | $55.5M | $34.2M | ||
| Q2 24 | $40.0M | $33.5M | ||
| Q1 24 | $50.1M | $-12.1M |
| Q4 25 | 14.2% | 22.3% | ||
| Q3 25 | 35.5% | 60.7% | ||
| Q2 25 | 18.2% | 22.8% | ||
| Q1 25 | 24.4% | 6.1% | ||
| Q4 24 | 25.4% | 7.4% | ||
| Q3 24 | 33.5% | 37.3% | ||
| Q2 24 | 24.9% | 37.6% | ||
| Q1 24 | 31.8% | -15.3% |
| Q4 25 | 0.3% | 1.1% | ||
| Q3 25 | 0.3% | 2.6% | ||
| Q2 25 | 0.6% | 2.6% | ||
| Q1 25 | 3.6% | 1.9% | ||
| Q4 24 | 0.4% | 5.0% | ||
| Q3 24 | 0.2% | 1.2% | ||
| Q2 24 | 0.4% | 1.8% | ||
| Q1 24 | 0.2% | 1.4% |
| Q4 25 | 5.46× | 46.11× | ||
| Q3 25 | 12.07× | 3.27× | ||
| Q2 25 | 3.90× | 2.06× | ||
| Q1 25 | 7.72× | 2.99× | ||
| Q4 24 | 0.78× | 2.16× | ||
| Q3 24 | 3.24× | 2.54× | ||
| Q2 24 | 0.53× | 9.78× | ||
| Q1 24 | 4.66× | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
