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Side-by-side financial comparison of BLACKLINE, INC. (BL) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $183.2M, roughly 1.3× BLACKLINE, INC.). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs 2.7%, a 2.3% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 8.1%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $14.9M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs 7.1%).
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.
BL vs OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $242.1M |
| Net Profit | $4.9M | $12.1M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 6.8% |
| Net Margin | 2.7% | 5.0% |
| Revenue YoY | 8.1% | 11.5% |
| Net Profit YoY | -91.3% | -16.2% |
| EPS (diluted) | $0.07 | $0.12 |
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 | $242.1M | ||
| Q3 25 | $178.3M | $258.5M | ||
| Q2 25 | $172.0M | $240.7M | ||
| Q1 25 | $166.9M | $219.6M | ||
| Q4 24 | $169.5M | $217.2M | ||
| Q3 24 | $165.9M | $241.7M | ||
| Q2 24 | $160.5M | $224.9M | ||
| Q1 24 | $157.5M | $211.2M |
| Q4 25 | $4.9M | $12.1M | ||
| Q3 25 | $5.3M | $24.3M | ||
| Q2 25 | $8.3M | $19.9M | ||
| Q1 25 | $6.1M | $15.3M | ||
| Q4 24 | $56.4M | $14.4M | ||
| Q3 24 | $17.2M | $21.6M | ||
| Q2 24 | $76.7M | $15.8M | ||
| Q1 24 | $10.8M | $21.2M |
| 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% | 6.8% | ||
| Q3 25 | 4.3% | 10.2% | ||
| Q2 25 | 4.4% | 9.2% | ||
| Q1 25 | 2.1% | 7.7% | ||
| Q4 24 | 3.7% | 7.9% | ||
| Q3 24 | 5.0% | 10.3% | ||
| Q2 24 | 1.4% | 8.4% | ||
| Q1 24 | 1.1% | 8.0% |
| Q4 25 | 2.7% | 5.0% | ||
| Q3 25 | 3.0% | 9.4% | ||
| Q2 25 | 4.8% | 8.3% | ||
| Q1 25 | 3.6% | 7.0% | ||
| Q4 24 | 33.3% | 6.6% | ||
| Q3 24 | 10.4% | 8.9% | ||
| Q2 24 | 47.8% | 7.0% | ||
| Q1 24 | 6.9% | 10.0% |
| Q4 25 | $0.07 | $0.12 | ||
| Q3 25 | $0.09 | $0.23 | ||
| Q2 25 | $0.13 | $0.19 | ||
| Q1 25 | $0.10 | $0.15 | ||
| Q4 24 | $0.79 | $0.13 | ||
| Q3 24 | $0.27 | $0.20 | ||
| Q2 24 | $0.22 | $0.15 | ||
| Q1 24 | $0.17 | $0.21 |
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 | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $332.3M | $542.6M |
| Total Assets | $1.8B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $16.3M | ||
| Q3 25 | $419.9M | $29.6M | ||
| Q2 25 | $459.1M | $35.0M | ||
| Q1 25 | $479.5M | $22.6M | ||
| Q4 24 | $885.9M | $57.4M | ||
| Q3 24 | $725.3M | $48.8M | ||
| Q2 24 | $616.6M | $62.5M | ||
| Q1 24 | $331.4M | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | $332.3M | $542.6M | ||
| Q3 25 | $328.3M | $552.8M | ||
| Q2 25 | $414.0M | $548.3M | ||
| Q1 25 | $417.9M | $530.6M | ||
| Q4 24 | $446.7M | $554.5M | ||
| Q3 24 | $367.9M | $540.1M | ||
| Q2 24 | $325.8M | $532.7M | ||
| Q1 24 | $279.8M | $515.5M |
| Q4 25 | $1.8B | $707.1M | ||
| Q3 25 | $1.7B | $732.6M | ||
| Q2 25 | $1.8B | $731.8M | ||
| Q1 25 | $1.8B | $708.7M | ||
| Q4 24 | $1.8B | $746.4M | ||
| Q3 24 | $1.7B | $734.0M | ||
| Q2 24 | $1.9B | $756.8M | ||
| Q1 24 | $2.1B | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $20.0M |
| Free Cash FlowOCF − Capex | $26.1M | $14.9M |
| FCF MarginFCF / Revenue | 14.2% | 6.2% |
| Capex IntensityCapex / Revenue | 0.3% | 2.1% |
| Cash ConversionOCF / Net Profit | 5.46× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $20.0M | ||
| Q3 25 | $63.8M | $33.2M | ||
| Q2 25 | $32.3M | $20.3M | ||
| Q1 25 | $46.7M | $10.1M | ||
| Q4 24 | $43.8M | $16.6M | ||
| Q3 24 | $55.9M | $28.6M | ||
| Q2 24 | $40.7M | $18.7M | ||
| Q1 24 | $50.4M | $15.0M |
| Q4 25 | $26.1M | $14.9M | ||
| Q3 25 | $63.3M | $27.6M | ||
| Q2 25 | $31.4M | $17.6M | ||
| Q1 25 | $40.8M | $8.4M | ||
| Q4 24 | $43.0M | $13.2M | ||
| Q3 24 | $55.5M | $27.5M | ||
| Q2 24 | $40.0M | $17.6M | ||
| Q1 24 | $50.1M | $13.7M |
| Q4 25 | 14.2% | 6.2% | ||
| Q3 25 | 35.5% | 10.7% | ||
| Q2 25 | 18.2% | 7.3% | ||
| Q1 25 | 24.4% | 3.8% | ||
| Q4 24 | 25.4% | 6.1% | ||
| Q3 24 | 33.5% | 11.4% | ||
| Q2 24 | 24.9% | 7.8% | ||
| Q1 24 | 31.8% | 6.5% |
| Q4 25 | 0.3% | 2.1% | ||
| Q3 25 | 0.3% | 2.2% | ||
| Q2 25 | 0.6% | 1.1% | ||
| Q1 25 | 3.6% | 0.8% | ||
| Q4 24 | 0.4% | 1.5% | ||
| Q3 24 | 0.2% | 0.5% | ||
| Q2 24 | 0.4% | 0.5% | ||
| Q1 24 | 0.2% | 0.6% |
| Q4 25 | 5.46× | 1.65× | ||
| Q3 25 | 12.07× | 1.36× | ||
| Q2 25 | 3.90× | 1.02× | ||
| Q1 25 | 7.72× | 0.66× | ||
| Q4 24 | 0.78× | 1.15× | ||
| Q3 24 | 3.24× | 1.33× | ||
| Q2 24 | 0.53× | 1.19× | ||
| Q1 24 | 4.66× | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
