vs
Side-by-side financial comparison of BLACKLINE, INC. (BL) and WORKIVA INC (WK). Click either name above to swap in a different company.
WORKIVA INC is the larger business by last-quarter revenue ($238.9M vs $183.2M, roughly 1.3× BLACKLINE, INC.). WORKIVA INC runs the higher net margin — 4.9% vs 2.7%, a 2.3% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.5% vs 8.1%). WORKIVA INC produced more free cash flow last quarter ($50.7M vs $26.1M). Over the past eight quarters, WORKIVA INC's revenue compounded faster (16.6% 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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
BL vs WK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $238.9M |
| Net Profit | $4.9M | $11.8M |
| Gross Margin | 75.2% | 80.7% |
| Operating Margin | 3.7% | 3.3% |
| Net Margin | 2.7% | 4.9% |
| Revenue YoY | 8.1% | 19.5% |
| Net Profit YoY | -91.3% | 234.0% |
| EPS (diluted) | $0.07 | $0.21 |
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 | $238.9M | ||
| Q3 25 | $178.3M | $224.2M | ||
| Q2 25 | $172.0M | $215.2M | ||
| Q1 25 | $166.9M | $206.3M | ||
| Q4 24 | $169.5M | $199.9M | ||
| Q3 24 | $165.9M | $185.6M | ||
| Q2 24 | $160.5M | $177.5M | ||
| Q1 24 | $157.5M | $175.7M |
| Q4 25 | $4.9M | $11.8M | ||
| Q3 25 | $5.3M | $2.8M | ||
| Q2 25 | $8.3M | $-19.4M | ||
| Q1 25 | $6.1M | $-21.4M | ||
| Q4 24 | $56.4M | $-8.8M | ||
| Q3 24 | $17.2M | $-17.0M | ||
| Q2 24 | $76.7M | $-17.5M | ||
| Q1 24 | $10.8M | $-11.7M |
| Q4 25 | 75.2% | 80.7% | ||
| Q3 25 | 75.1% | 79.3% | ||
| Q2 25 | 75.2% | 77.0% | ||
| Q1 25 | 75.5% | 76.6% | ||
| Q4 24 | 75.6% | 77.1% | ||
| Q3 24 | 75.2% | 76.5% | ||
| Q2 24 | 74.9% | 76.8% | ||
| Q1 24 | 75.2% | 76.4% |
| Q4 25 | 3.7% | 3.3% | ||
| Q3 25 | 4.3% | -1.5% | ||
| Q2 25 | 4.4% | -10.3% | ||
| Q1 25 | 2.1% | -12.0% | ||
| Q4 24 | 3.7% | -6.7% | ||
| Q3 24 | 5.0% | -11.7% | ||
| Q2 24 | 1.4% | -13.0% | ||
| Q1 24 | 1.1% | -10.4% |
| Q4 25 | 2.7% | 4.9% | ||
| Q3 25 | 3.0% | 1.2% | ||
| Q2 25 | 4.8% | -9.0% | ||
| Q1 25 | 3.6% | -10.4% | ||
| Q4 24 | 33.3% | -4.4% | ||
| Q3 24 | 10.4% | -9.2% | ||
| Q2 24 | 47.8% | -9.9% | ||
| Q1 24 | 6.9% | -6.7% |
| Q4 25 | $0.07 | $0.21 | ||
| Q3 25 | $0.09 | $0.05 | ||
| Q2 25 | $0.13 | $-0.35 | ||
| Q1 25 | $0.10 | $-0.38 | ||
| Q4 24 | $0.79 | $-0.15 | ||
| Q3 24 | $0.27 | $-0.31 | ||
| Q2 24 | $0.22 | $-0.32 | ||
| Q1 24 | $0.17 | $-0.21 |
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 | $338.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | $-5.4M |
| Total Assets | $1.8B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $338.8M | ||
| Q3 25 | $419.9M | $315.9M | ||
| Q2 25 | $459.1M | $284.3M | ||
| Q1 25 | $479.5M | $242.0M | ||
| Q4 24 | $885.9M | $301.8M | ||
| Q3 24 | $725.3M | $248.2M | ||
| Q2 24 | $616.6M | $267.9M | ||
| Q1 24 | $331.4M | $296.1M |
| Q4 25 | $332.3M | $-5.4M | ||
| Q3 25 | $328.3M | $-36.9M | ||
| Q2 25 | $414.0M | $-66.5M | ||
| Q1 25 | $417.9M | $-75.7M | ||
| Q4 24 | $446.7M | $-41.7M | ||
| Q3 24 | $367.9M | $-50.8M | ||
| Q2 24 | $325.8M | $-77.7M | ||
| Q1 24 | $279.8M | $-83.2M |
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.7B | $1.3B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $2.1B | $1.2B |
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 | $51.0M |
| Free Cash FlowOCF − Capex | $26.1M | $50.7M |
| FCF MarginFCF / Revenue | 14.2% | 21.2% |
| Capex IntensityCapex / Revenue | 0.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 5.46× | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $51.0M | ||
| Q3 25 | $63.8M | $46.2M | ||
| Q2 25 | $32.3M | $50.3M | ||
| Q1 25 | $46.7M | $-7.4M | ||
| Q4 24 | $43.8M | $44.0M | ||
| Q3 24 | $55.9M | $18.9M | ||
| Q2 24 | $40.7M | $-14.0K | ||
| Q1 24 | $50.4M | $24.8M |
| Q4 25 | $26.1M | $50.7M | ||
| Q3 25 | $63.3M | $46.1M | ||
| Q2 25 | $31.4M | $49.3M | ||
| Q1 25 | $40.8M | $-8.1M | ||
| Q4 24 | $43.0M | $43.2M | ||
| Q3 24 | $55.5M | $18.7M | ||
| Q2 24 | $40.0M | $-122.0K | ||
| Q1 24 | $50.1M | $24.6M |
| Q4 25 | 14.2% | 21.2% | ||
| Q3 25 | 35.5% | 20.5% | ||
| Q2 25 | 18.2% | 22.9% | ||
| Q1 25 | 24.4% | -3.9% | ||
| Q4 24 | 25.4% | 21.6% | ||
| Q3 24 | 33.5% | 10.1% | ||
| Q2 24 | 24.9% | -0.1% | ||
| Q1 24 | 31.8% | 14.0% |
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.6% | 0.5% | ||
| Q1 25 | 3.6% | 0.4% | ||
| Q4 24 | 0.4% | 0.4% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.4% | 0.1% | ||
| Q1 24 | 0.2% | 0.1% |
| Q4 25 | 5.46× | 4.31× | ||
| Q3 25 | 12.07× | 16.57× | ||
| 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% |
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
