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Side-by-side financial comparison of BLACKLINE, INC. (BL) and RADIANT LOGISTICS, INC (RLGT). Click either name above to swap in a different company.
RADIANT LOGISTICS, INC is the larger business by last-quarter revenue ($232.1M vs $183.2M, roughly 1.3× BLACKLINE, INC.). BLACKLINE, INC. runs the higher net margin — 2.7% vs 2.3%, a 0.4% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -12.3%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $11.6M). Over the past eight quarters, RADIANT LOGISTICS, INC's revenue compounded faster (12.1% 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.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
BL vs RLGT — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $232.1M |
| Net Profit | $4.9M | $5.3M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 3.2% |
| Net Margin | 2.7% | 2.3% |
| Revenue YoY | 8.1% | -12.3% |
| Net Profit YoY | -91.3% | -18.0% |
| EPS (diluted) | $0.07 | $0.11 |
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 | $232.1M | ||
| Q3 25 | $178.3M | $226.7M | ||
| Q2 25 | $172.0M | $220.6M | ||
| Q1 25 | $166.9M | $214.0M | ||
| Q4 24 | $169.5M | $264.5M | ||
| Q3 24 | $165.9M | $203.6M | ||
| Q2 24 | $160.5M | $206.0M | ||
| Q1 24 | $157.5M | $184.6M |
| Q4 25 | $4.9M | $5.3M | ||
| Q3 25 | $5.3M | $1.3M | ||
| Q2 25 | $8.3M | $4.9M | ||
| Q1 25 | $6.1M | $2.5M | ||
| Q4 24 | $56.4M | $6.5M | ||
| Q3 24 | $17.2M | $3.4M | ||
| Q2 24 | $76.7M | $4.8M | ||
| Q1 24 | $10.8M | $-703.0K |
| 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% | 3.2% | ||
| Q3 25 | 4.3% | 0.9% | ||
| Q2 25 | 4.4% | 2.4% | ||
| Q1 25 | 2.1% | 1.6% | ||
| Q4 24 | 3.7% | 3.3% | ||
| Q3 24 | 5.0% | 1.9% | ||
| Q2 24 | 1.4% | 2.4% | ||
| Q1 24 | 1.1% | -0.5% |
| Q4 25 | 2.7% | 2.3% | ||
| Q3 25 | 3.0% | 0.6% | ||
| Q2 25 | 4.8% | 2.2% | ||
| Q1 25 | 3.6% | 1.2% | ||
| Q4 24 | 33.3% | 2.4% | ||
| Q3 24 | 10.4% | 1.7% | ||
| Q2 24 | 47.8% | 2.3% | ||
| Q1 24 | 6.9% | -0.4% |
| Q4 25 | $0.07 | $0.11 | ||
| Q3 25 | $0.09 | $0.03 | ||
| Q2 25 | $0.13 | $0.10 | ||
| Q1 25 | $0.10 | $0.05 | ||
| Q4 24 | $0.79 | $0.13 | ||
| Q3 24 | $0.27 | $0.07 | ||
| Q2 24 | $0.22 | $0.11 | ||
| Q1 24 | $0.17 | $-0.02 |
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 | $31.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $229.8M |
| Total Assets | $1.8B | $439.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $31.9M | ||
| Q3 25 | $419.9M | $28.1M | ||
| Q2 25 | $459.1M | $22.9M | ||
| Q1 25 | $479.5M | $19.0M | ||
| Q4 24 | $885.9M | $19.9M | ||
| Q3 24 | $725.3M | $10.4M | ||
| Q2 24 | $616.6M | $24.9M | ||
| Q1 24 | $331.4M | $31.2M |
| Q4 25 | $332.3M | $229.8M | ||
| Q3 25 | $328.3M | $225.7M | ||
| Q2 25 | $414.0M | $226.0M | ||
| Q1 25 | $417.9M | $218.2M | ||
| Q4 24 | $446.7M | $214.4M | ||
| Q3 24 | $367.9M | $212.4M | ||
| Q2 24 | $325.8M | $209.4M | ||
| Q1 24 | $279.8M | $206.0M |
| Q4 25 | $1.8B | $439.4M | ||
| Q3 25 | $1.7B | $445.3M | ||
| Q2 25 | $1.8B | $426.8M | ||
| Q1 25 | $1.8B | $414.5M | ||
| Q4 24 | $1.8B | $386.8M | ||
| Q3 24 | $1.7B | $375.3M | ||
| Q2 24 | $1.9B | $371.2M | ||
| Q1 24 | $2.1B | $364.0M |
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 | $12.4M |
| Free Cash FlowOCF − Capex | $26.1M | $11.6M |
| FCF MarginFCF / Revenue | 14.2% | 5.0% |
| Capex IntensityCapex / Revenue | 0.3% | 0.3% |
| Cash ConversionOCF / Net Profit | 5.46× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $12.4M | ||
| Q3 25 | $63.8M | $2.5M | ||
| Q2 25 | $32.3M | $3.1M | ||
| Q1 25 | $46.7M | $-5.7M | ||
| Q4 24 | $43.8M | $15.7M | ||
| Q3 24 | $55.9M | $205.0K | ||
| Q2 24 | $40.7M | $1.3M | ||
| Q1 24 | $50.4M | $3.9M |
| Q4 25 | $26.1M | $11.6M | ||
| Q3 25 | $63.3M | $977.0K | ||
| Q2 25 | $31.4M | $2.2M | ||
| Q1 25 | $40.8M | $-6.4M | ||
| Q4 24 | $43.0M | $14.1M | ||
| Q3 24 | $55.5M | $-1.9M | ||
| Q2 24 | $40.0M | $-185.0K | ||
| Q1 24 | $50.1M | $1.8M |
| Q4 25 | 14.2% | 5.0% | ||
| Q3 25 | 35.5% | 0.4% | ||
| Q2 25 | 18.2% | 1.0% | ||
| Q1 25 | 24.4% | -3.0% | ||
| Q4 24 | 25.4% | 5.3% | ||
| Q3 24 | 33.5% | -0.9% | ||
| Q2 24 | 24.9% | -0.1% | ||
| Q1 24 | 31.8% | 1.0% |
| Q4 25 | 0.3% | 0.3% | ||
| Q3 25 | 0.3% | 0.7% | ||
| Q2 25 | 0.6% | 0.4% | ||
| Q1 25 | 3.6% | 0.3% | ||
| Q4 24 | 0.4% | 0.6% | ||
| Q3 24 | 0.2% | 1.0% | ||
| Q2 24 | 0.4% | 0.7% | ||
| Q1 24 | 0.2% | 1.2% |
| Q4 25 | 5.46× | 2.33× | ||
| Q3 25 | 12.07× | 1.90× | ||
| Q2 25 | 3.90× | 0.63× | ||
| Q1 25 | 7.72× | -2.26× | ||
| Q4 24 | 0.78× | 2.43× | ||
| Q3 24 | 3.24× | 0.06× | ||
| Q2 24 | 0.53× | 0.26× | ||
| 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% |
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
