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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $183.2M, roughly 1.4× BLACKLINE, INC.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 8.1%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $26.1M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% 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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
BL vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $253.4M |
| Net Profit | $4.9M | — |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 28.7% |
| Net Margin | 2.7% | — |
| Revenue YoY | 8.1% | 62.7% |
| Net Profit YoY | -91.3% | — |
| EPS (diluted) | $0.07 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $178.3M | $244.7M | ||
| Q2 25 | $172.0M | $203.3M | ||
| Q1 25 | $166.9M | $174.6M | ||
| Q4 24 | $169.5M | $155.8M | ||
| Q3 24 | $165.9M | $148.5M | ||
| Q2 24 | $160.5M | $131.1M | ||
| Q1 24 | $157.5M | $118.5M |
| Q4 25 | $4.9M | — | ||
| Q3 25 | $5.3M | $51.5M | ||
| Q2 25 | $8.3M | $46.5M | ||
| Q1 25 | $6.1M | $42.9M | ||
| Q4 24 | $56.4M | — | ||
| Q3 24 | $17.2M | $30.5M | ||
| Q2 24 | $76.7M | $25.7M | ||
| Q1 24 | $10.8M | $26.4M |
| 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% | 28.7% | ||
| Q3 25 | 4.3% | 27.4% | ||
| Q2 25 | 4.4% | 29.5% | ||
| Q1 25 | 2.1% | 30.8% | ||
| Q4 24 | 3.7% | 28.9% | ||
| Q3 24 | 5.0% | 25.9% | ||
| Q2 24 | 1.4% | 25.5% | ||
| Q1 24 | 1.1% | 29.0% |
| Q4 25 | 2.7% | — | ||
| Q3 25 | 3.0% | 21.0% | ||
| Q2 25 | 4.8% | 22.9% | ||
| Q1 25 | 3.6% | 24.6% | ||
| Q4 24 | 33.3% | — | ||
| Q3 24 | 10.4% | 20.5% | ||
| Q2 24 | 47.8% | 19.6% | ||
| Q1 24 | 6.9% | 22.3% |
| Q4 25 | $0.07 | $2.05 | ||
| Q3 25 | $0.09 | $1.87 | ||
| Q2 25 | $0.13 | $1.68 | ||
| Q1 25 | $0.10 | $1.57 | ||
| Q4 24 | $0.79 | $1.29 | ||
| Q3 24 | $0.27 | $1.15 | ||
| Q2 24 | $0.22 | $1.00 | ||
| Q1 24 | $0.17 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $942.7M |
| Total Assets | $1.8B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $106.9M | ||
| Q3 25 | $419.9M | $111.7M | ||
| Q2 25 | $459.1M | $81.3M | ||
| Q1 25 | $479.5M | $119.3M | ||
| Q4 24 | $885.9M | $80.4M | ||
| Q3 24 | $725.3M | $86.5M | ||
| Q2 24 | $616.6M | $47.8M | ||
| Q1 24 | $331.4M | $61.4M |
| Q4 25 | $332.3M | $942.7M | ||
| Q3 25 | $328.3M | $878.1M | ||
| Q2 25 | $414.0M | $847.2M | ||
| Q1 25 | $417.9M | $790.4M | ||
| Q4 24 | $446.7M | $729.0M | ||
| Q3 24 | $367.9M | $703.3M | ||
| Q2 24 | $325.8M | $532.6M | ||
| Q1 24 | $279.8M | $501.7M |
| Q4 25 | $1.8B | $3.1B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.8B | $2.8B | ||
| Q1 25 | $1.8B | $2.4B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.7B | $2.3B | ||
| Q2 24 | $1.9B | $2.0B | ||
| Q1 24 | $2.1B | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $26.1M | $409.0M |
| FCF MarginFCF / Revenue | 14.2% | 161.4% |
| Capex IntensityCapex / Revenue | 0.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $409.1M | ||
| Q3 25 | $63.8M | $83.6M | ||
| Q2 25 | $32.3M | $120.9M | ||
| Q1 25 | $46.7M | $87.2M | ||
| Q4 24 | $43.8M | $261.2M | ||
| Q3 24 | $55.9M | $100.3M | ||
| Q2 24 | $40.7M | $55.1M | ||
| Q1 24 | $50.4M | $33.1M |
| Q4 25 | $26.1M | $409.0M | ||
| Q3 25 | $63.3M | $83.6M | ||
| Q2 25 | $31.4M | $120.8M | ||
| Q1 25 | $40.8M | $87.1M | ||
| Q4 24 | $43.0M | $260.9M | ||
| Q3 24 | $55.5M | $100.1M | ||
| Q2 24 | $40.0M | — | ||
| Q1 24 | $50.1M | — |
| Q4 25 | 14.2% | 161.4% | ||
| Q3 25 | 35.5% | 34.2% | ||
| Q2 25 | 18.2% | 59.4% | ||
| Q1 25 | 24.4% | 49.9% | ||
| Q4 24 | 25.4% | 167.5% | ||
| Q3 24 | 33.5% | 67.4% | ||
| Q2 24 | 24.9% | — | ||
| Q1 24 | 31.8% | — |
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.6% | 0.0% | ||
| Q1 25 | 3.6% | 0.0% | ||
| Q4 24 | 0.4% | 0.2% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.4% | 0.0% | ||
| Q1 24 | 0.2% | 0.0% |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | 1.63× | ||
| Q2 25 | 3.90× | 2.60× | ||
| Q1 25 | 7.72× | 2.03× | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | 3.29× | ||
| Q2 24 | 0.53× | 2.14× | ||
| Q1 24 | 4.66× | 1.26× |
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% |
PLMR
Segment breakdown not available.
