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Side-by-side financial comparison of BLACKLINE, INC. (BL) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
BRC Group Holdings, Inc. is the larger business by last-quarter revenue ($188.3M vs $183.2M, roughly 1.0× BLACKLINE, INC.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 2.7%, a 45.3% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -21.9%). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -15.4%).
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 RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $188.3M |
| Net Profit | $4.9M | $90.3M |
| Gross Margin | 75.2% | 79.5% |
| Operating Margin | 3.7% | 32.3% |
| Net Margin | 2.7% | 47.9% |
| Revenue YoY | 8.1% | -21.9% |
| Net Profit YoY | -91.3% | 1710.8% |
| EPS (diluted) | $0.07 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $178.3M | $215.3M | ||
| Q2 25 | $172.0M | $188.2M | ||
| Q1 25 | $166.9M | $197.2M | ||
| Q4 24 | $169.5M | $241.0M | ||
| Q3 24 | $165.9M | $225.5M | ||
| Q2 24 | $160.5M | $256.0M | ||
| Q1 24 | $157.5M | $263.4M |
| Q4 25 | $4.9M | $90.3M | ||
| Q3 25 | $5.3M | $91.1M | ||
| Q2 25 | $8.3M | $139.5M | ||
| Q1 25 | $6.1M | $-10.0M | ||
| Q4 24 | $56.4M | $-5.6M | ||
| Q3 24 | $17.2M | $-284.4M | ||
| Q2 24 | $76.7M | $-433.6M | ||
| Q1 24 | $10.8M | $-49.2M |
| Q4 25 | 75.2% | 79.5% | ||
| Q3 25 | 75.1% | 83.7% | ||
| Q2 25 | 75.2% | 81.3% | ||
| Q1 25 | 75.5% | 81.4% | ||
| Q4 24 | 75.6% | 79.8% | ||
| Q3 24 | 75.2% | 82.1% | ||
| Q2 24 | 74.9% | 84.5% | ||
| Q1 24 | 75.2% | 85.3% |
| Q4 25 | 3.7% | 32.3% | ||
| Q3 25 | 4.3% | 30.4% | ||
| Q2 25 | 4.4% | 5.7% | ||
| Q1 25 | 2.1% | -31.2% | ||
| Q4 24 | 3.7% | -69.2% | ||
| Q3 24 | 5.0% | -36.4% | ||
| Q2 24 | 1.4% | -90.8% | ||
| Q1 24 | 1.1% | -6.1% |
| Q4 25 | 2.7% | 47.9% | ||
| Q3 25 | 3.0% | 42.3% | ||
| Q2 25 | 4.8% | 74.1% | ||
| Q1 25 | 3.6% | -5.1% | ||
| Q4 24 | 33.3% | -2.3% | ||
| Q3 24 | 10.4% | -126.1% | ||
| Q2 24 | 47.8% | -169.4% | ||
| Q1 24 | 6.9% | -18.7% |
| Q4 25 | $0.07 | $2.78 | ||
| Q3 25 | $0.09 | $2.91 | ||
| Q2 25 | $0.13 | $4.50 | ||
| Q1 25 | $0.10 | $-0.39 | ||
| Q4 24 | $0.79 | $-0.01 | ||
| Q3 24 | $0.27 | $-9.39 | ||
| Q2 24 | $0.22 | $-14.35 | ||
| Q1 24 | $0.17 | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $332.3M | $-171.5M |
| Total Assets | $1.8B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $226.6M | ||
| Q3 25 | $419.9M | $184.2M | ||
| Q2 25 | $459.1M | $267.4M | ||
| Q1 25 | $479.5M | $138.3M | ||
| Q4 24 | $885.9M | $146.9M | ||
| Q3 24 | $725.3M | $159.2M | ||
| Q2 24 | $616.6M | $236.9M | ||
| Q1 24 | $331.4M | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $332.3M | $-171.5M | ||
| Q3 25 | $328.3M | $-260.5M | ||
| Q2 25 | $414.0M | $-351.7M | ||
| Q1 25 | $417.9M | $-496.8M | ||
| Q4 24 | $446.7M | $-488.2M | ||
| Q3 24 | $367.9M | $-497.6M | ||
| Q2 24 | $325.8M | $-218.3M | ||
| Q1 24 | $279.8M | $228.4M |
| Q4 25 | $1.8B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.7B | $2.2B | ||
| Q2 24 | $1.9B | $3.2B | ||
| Q1 24 | $2.1B | $5.0B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | $26.1M | — |
| FCF MarginFCF / Revenue | 14.2% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | 5.46× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $26.2M | ||
| Q3 25 | $63.8M | $-60.6M | ||
| Q2 25 | $32.3M | $-25.6M | ||
| Q1 25 | $46.7M | $184.0K | ||
| Q4 24 | $43.8M | $-2.7M | ||
| Q3 24 | $55.9M | $19.5M | ||
| Q2 24 | $40.7M | $111.5M | ||
| Q1 24 | $50.4M | $135.4M |
| Q4 25 | $26.1M | — | ||
| Q3 25 | $63.3M | — | ||
| Q2 25 | $31.4M | — | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | $43.0M | — | ||
| Q3 24 | $55.5M | — | ||
| Q2 24 | $40.0M | — | ||
| Q1 24 | $50.1M | — |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 35.5% | — | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | 24.4% | — | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 33.5% | — | ||
| Q2 24 | 24.9% | — | ||
| Q1 24 | 31.8% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | 5.46× | 0.29× | ||
| Q3 25 | 12.07× | -0.66× | ||
| Q2 25 | 3.90× | -0.18× | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
