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Side-by-side financial comparison of BLACKLINE, INC. (BL) and Twist Bioscience Corp (TWST). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $103.7M, roughly 1.8× Twist Bioscience Corp). BLACKLINE, INC. runs the higher net margin — 2.7% vs -29.4%, a 32.1% gap on every dollar of revenue. On growth, Twist Bioscience Corp posted the faster year-over-year revenue change (16.9% vs 8.1%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-34.8M).
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.
Twist Bioscience is a public biotechnology company based in South San Francisco that manufactures synthetic DNA and DNA products for customers in a wide range of industries. Twist was founded in 2013 by Emily Leproust, Bill Banyai, and Bill Peck.
BL vs TWST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $103.7M |
| Net Profit | $4.9M | $-30.5M |
| Gross Margin | 75.2% | 52.0% |
| Operating Margin | 3.7% | -31.7% |
| Net Margin | 2.7% | -29.4% |
| Revenue YoY | 8.1% | 16.9% |
| Net Profit YoY | -91.3% | 3.4% |
| EPS (diluted) | $0.07 | $-0.50 |
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 | $103.7M | ||
| Q3 25 | $178.3M | — | ||
| Q2 25 | $172.0M | — | ||
| Q1 25 | $166.9M | — | ||
| Q4 24 | $169.5M | — | ||
| Q3 24 | $165.9M | — | ||
| Q2 24 | $160.5M | — | ||
| Q1 24 | $157.5M | — |
| Q4 25 | $4.9M | $-30.5M | ||
| Q3 25 | $5.3M | — | ||
| Q2 25 | $8.3M | — | ||
| Q1 25 | $6.1M | — | ||
| Q4 24 | $56.4M | — | ||
| Q3 24 | $17.2M | — | ||
| Q2 24 | $76.7M | — | ||
| Q1 24 | $10.8M | — |
| Q4 25 | 75.2% | 52.0% | ||
| 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% | -31.7% | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.1% | — |
| Q4 25 | 2.7% | -29.4% | ||
| Q3 25 | 3.0% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 33.3% | — | ||
| Q3 24 | 10.4% | — | ||
| Q2 24 | 47.8% | — | ||
| Q1 24 | 6.9% | — |
| Q4 25 | $0.07 | $-0.50 | ||
| Q3 25 | $0.09 | — | ||
| Q2 25 | $0.13 | — | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $0.79 | — | ||
| Q3 24 | $0.27 | — | ||
| Q2 24 | $0.22 | — | ||
| Q1 24 | $0.17 | — |
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 | $197.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $456.1M |
| Total Assets | $1.8B | $638.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $197.9M | ||
| Q3 25 | $419.9M | — | ||
| Q2 25 | $459.1M | — | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $885.9M | — | ||
| Q3 24 | $725.3M | — | ||
| Q2 24 | $616.6M | — | ||
| Q1 24 | $331.4M | — |
| Q4 25 | $332.3M | $456.1M | ||
| Q3 25 | $328.3M | — | ||
| Q2 25 | $414.0M | — | ||
| Q1 25 | $417.9M | — | ||
| Q4 24 | $446.7M | — | ||
| Q3 24 | $367.9M | — | ||
| Q2 24 | $325.8M | — | ||
| Q1 24 | $279.8M | — |
| Q4 25 | $1.8B | $638.1M | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.1B | — |
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 | $-24.8M |
| Free Cash FlowOCF − Capex | $26.1M | $-34.8M |
| FCF MarginFCF / Revenue | 14.2% | -33.5% |
| Capex IntensityCapex / Revenue | 0.3% | 9.6% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $-24.8M | ||
| Q3 25 | $63.8M | — | ||
| Q2 25 | $32.3M | — | ||
| Q1 25 | $46.7M | — | ||
| Q4 24 | $43.8M | — | ||
| Q3 24 | $55.9M | — | ||
| Q2 24 | $40.7M | — | ||
| Q1 24 | $50.4M | — |
| Q4 25 | $26.1M | $-34.8M | ||
| 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% | -33.5% | ||
| 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% | 9.6% | ||
| 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× | — | ||
| 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× | — |
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% |
TWST
| Industrial Chemicals | $37.2M | 36% |
| Diagnostics | $35.3M | 34% |
| Food Or Agriculture | $12.8M | 12% |
| Academic Research | $12.2M | 12% |
| Health Care | $6.1M | 6% |
