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Side-by-side financial comparison of BLACKLINE, INC. (BL) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $91.6M, roughly 2.0× SHENANDOAH TELECOMMUNICATIONS CO). BLACKLINE, INC. runs the higher net margin — 2.7% vs -5.9%, a 8.5% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs 7.2%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% 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.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
BL vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $91.6M |
| Net Profit | $4.9M | $-5.4M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | -1.0% |
| Net Margin | 2.7% | -5.9% |
| Revenue YoY | 8.1% | 7.2% |
| Net Profit YoY | -91.3% | -95.8% |
| EPS (diluted) | $0.07 | $-0.13 |
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 | $91.6M | ||
| Q3 25 | $178.3M | $89.8M | ||
| Q2 25 | $172.0M | $88.6M | ||
| Q1 25 | $166.9M | $87.9M | ||
| Q4 24 | $169.5M | $85.4M | ||
| Q3 24 | $165.9M | $87.6M | ||
| Q2 24 | $160.5M | $85.8M | ||
| Q1 24 | $157.5M | $69.2M |
| Q4 25 | $4.9M | $-5.4M | ||
| Q3 25 | $5.3M | $-9.4M | ||
| Q2 25 | $8.3M | $-9.0M | ||
| Q1 25 | $6.1M | $-9.1M | ||
| Q4 24 | $56.4M | $-2.7M | ||
| Q3 24 | $17.2M | $-5.3M | ||
| Q2 24 | $76.7M | $-12.9M | ||
| Q1 24 | $10.8M | $214.7M |
| 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% | -1.0% | ||
| Q3 25 | 4.3% | -8.0% | ||
| Q2 25 | 4.4% | -10.3% | ||
| Q1 25 | 2.1% | -6.9% | ||
| Q4 24 | 3.7% | -6.7% | ||
| Q3 24 | 5.0% | -4.8% | ||
| Q2 24 | 1.4% | -18.5% | ||
| Q1 24 | 1.1% | -4.0% |
| Q4 25 | 2.7% | -5.9% | ||
| Q3 25 | 3.0% | -10.5% | ||
| Q2 25 | 4.8% | -10.2% | ||
| Q1 25 | 3.6% | -10.4% | ||
| Q4 24 | 33.3% | -3.2% | ||
| Q3 24 | 10.4% | -6.0% | ||
| Q2 24 | 47.8% | -15.0% | ||
| Q1 24 | 6.9% | 310.0% |
| Q4 25 | $0.07 | $-0.13 | ||
| Q3 25 | $0.09 | $-0.20 | ||
| Q2 25 | $0.13 | $-0.19 | ||
| Q1 25 | $0.10 | $-0.19 | ||
| Q4 24 | $0.79 | $-0.34 | ||
| Q3 24 | $0.27 | $-0.13 | ||
| Q2 24 | $0.22 | $-0.24 | ||
| Q1 24 | $0.17 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $332.3M | $880.8M |
| Total Assets | $1.8B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $27.3M | ||
| Q3 25 | $419.9M | $22.6M | ||
| Q2 25 | $459.1M | $29.1M | ||
| Q1 25 | $479.5M | $87.5M | ||
| Q4 24 | $885.9M | $46.3M | ||
| Q3 24 | $725.3M | $43.1M | ||
| Q2 24 | $616.6M | $43.8M | ||
| Q1 24 | $331.4M | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $332.3M | $880.8M | ||
| Q3 25 | $328.3M | $892.7M | ||
| Q2 25 | $414.0M | $902.0M | ||
| Q1 25 | $417.9M | $910.5M | ||
| Q4 24 | $446.7M | $918.6M | ||
| Q3 24 | $367.9M | $925.4M | ||
| Q2 24 | $325.8M | $933.1M | ||
| Q1 24 | $279.8M | $871.6M |
| Q4 25 | $1.8B | $1.9B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.7B | $1.7B | ||
| Q2 24 | $1.9B | $1.7B | ||
| Q1 24 | $2.1B | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $26.1M | $-78.6M |
| FCF MarginFCF / Revenue | 14.2% | -85.8% |
| Capex IntensityCapex / Revenue | 0.3% | 117.2% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $28.8M | ||
| Q3 25 | $63.8M | $30.7M | ||
| Q2 25 | $32.3M | $20.9M | ||
| Q1 25 | $46.7M | $20.5M | ||
| Q4 24 | $43.8M | $20.6M | ||
| Q3 24 | $55.9M | $24.3M | ||
| Q2 24 | $40.7M | $2.5M | ||
| Q1 24 | $50.4M | $15.2M |
| Q4 25 | $26.1M | $-78.6M | ||
| Q3 25 | $63.3M | $-51.4M | ||
| Q2 25 | $31.4M | $-65.3M | ||
| Q1 25 | $40.8M | $-62.7M | ||
| Q4 24 | $43.0M | $-72.0M | ||
| Q3 24 | $55.5M | $-51.3M | ||
| Q2 24 | $40.0M | $-78.3M | ||
| Q1 24 | $50.1M | $-54.9M |
| Q4 25 | 14.2% | -85.8% | ||
| Q3 25 | 35.5% | -57.2% | ||
| Q2 25 | 18.2% | -73.7% | ||
| Q1 25 | 24.4% | -71.3% | ||
| Q4 24 | 25.4% | -84.3% | ||
| Q3 24 | 33.5% | -58.5% | ||
| Q2 24 | 24.9% | -91.3% | ||
| Q1 24 | 31.8% | -79.3% |
| Q4 25 | 0.3% | 117.2% | ||
| Q3 25 | 0.3% | 91.4% | ||
| Q2 25 | 0.6% | 97.3% | ||
| Q1 25 | 3.6% | 94.7% | ||
| Q4 24 | 0.4% | 108.4% | ||
| Q3 24 | 0.2% | 86.2% | ||
| Q2 24 | 0.4% | 94.2% | ||
| Q1 24 | 0.2% | 101.2% |
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
