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Side-by-side financial comparison of BLACKLINE, INC. (BL) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $183.2M, roughly 1.4× BLACKLINE, INC.). XPLR Infrastructure, LP runs the higher net margin — 11.2% vs 2.7%, a 8.6% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -15.3%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-88.0M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs -1.6%).
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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
BL vs XIFR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $249.0M |
| Net Profit | $4.9M | $28.0M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | -19.3% |
| Net Margin | 2.7% | 11.2% |
| Revenue YoY | 8.1% | -15.3% |
| Net Profit YoY | -91.3% | 124.3% |
| EPS (diluted) | $0.07 | — |
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 | $249.0M | ||
| Q3 25 | $178.3M | $315.0M | ||
| Q2 25 | $172.0M | $342.0M | ||
| Q1 25 | $166.9M | $282.0M | ||
| Q4 24 | $169.5M | $294.0M | ||
| Q3 24 | $165.9M | $319.0M | ||
| Q2 24 | $160.5M | $360.0M | ||
| Q1 24 | $157.5M | $257.0M |
| Q4 25 | $4.9M | $28.0M | ||
| Q3 25 | $5.3M | $-37.0M | ||
| Q2 25 | $8.3M | $79.0M | ||
| Q1 25 | $6.1M | $-98.0M | ||
| Q4 24 | $56.4M | $-115.0M | ||
| Q3 24 | $17.2M | $-40.0M | ||
| Q2 24 | $76.7M | $62.0M | ||
| Q1 24 | $10.8M | $70.0M |
| 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% | -19.3% | ||
| Q3 25 | 4.3% | 1.6% | ||
| Q2 25 | 4.4% | 26.3% | ||
| Q1 25 | 2.1% | -82.6% | ||
| Q4 24 | 3.7% | -188.1% | ||
| Q3 24 | 5.0% | 15.4% | ||
| Q2 24 | 1.4% | 18.3% | ||
| Q1 24 | 1.1% | -8.2% |
| Q4 25 | 2.7% | 11.2% | ||
| Q3 25 | 3.0% | -11.7% | ||
| Q2 25 | 4.8% | 23.1% | ||
| Q1 25 | 3.6% | -34.8% | ||
| Q4 24 | 33.3% | -39.1% | ||
| Q3 24 | 10.4% | -12.5% | ||
| Q2 24 | 47.8% | 17.2% | ||
| Q1 24 | 6.9% | 27.2% |
| Q4 25 | $0.07 | — | ||
| Q3 25 | $0.09 | $-0.40 | ||
| Q2 25 | $0.13 | $0.84 | ||
| Q1 25 | $0.10 | $-1.05 | ||
| Q4 24 | $0.79 | — | ||
| Q3 24 | $0.27 | $-0.43 | ||
| Q2 24 | $0.22 | $0.66 | ||
| Q1 24 | $0.17 | $0.75 |
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 | $960.0M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $332.3M | $10.9B |
| Total Assets | $1.8B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | $960.0M | ||
| Q3 25 | $419.9M | $711.0M | ||
| Q2 25 | $459.1M | $880.0M | ||
| Q1 25 | $479.5M | $1.5B | ||
| Q4 24 | $885.9M | $283.0M | ||
| Q3 24 | $725.3M | $290.0M | ||
| Q2 24 | $616.6M | $281.0M | ||
| Q1 24 | $331.4M | $245.0M |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $332.3M | $10.9B | ||
| Q3 25 | $328.3M | $11.0B | ||
| Q2 25 | $414.0M | $11.3B | ||
| Q1 25 | $417.9M | $12.6B | ||
| Q4 24 | $446.7M | $12.9B | ||
| Q3 24 | $367.9M | $13.6B | ||
| Q2 24 | $325.8M | $13.9B | ||
| Q1 24 | $279.8M | $14.0B |
| Q4 25 | $1.8B | $19.6B | ||
| Q3 25 | $1.7B | $19.1B | ||
| Q2 25 | $1.8B | $20.5B | ||
| Q1 25 | $1.8B | $21.4B | ||
| Q4 24 | $1.8B | $20.3B | ||
| Q3 24 | $1.7B | $20.9B | ||
| Q2 24 | $1.9B | $21.7B | ||
| Q1 24 | $2.1B | $22.3B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $186.0M |
| Free Cash FlowOCF − Capex | $26.1M | $-88.0M |
| FCF MarginFCF / Revenue | 14.2% | -35.3% |
| Capex IntensityCapex / Revenue | 0.3% | 110.0% |
| Cash ConversionOCF / Net Profit | 5.46× | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $186.0M | ||
| Q3 25 | $63.8M | $231.0M | ||
| Q2 25 | $32.3M | $232.0M | ||
| Q1 25 | $46.7M | $90.0M | ||
| Q4 24 | $43.8M | $283.0M | ||
| Q3 24 | $55.9M | $208.0M | ||
| Q2 24 | $40.7M | $231.0M | ||
| Q1 24 | $50.4M | $78.0M |
| Q4 25 | $26.1M | $-88.0M | ||
| Q3 25 | $63.3M | $-283.0M | ||
| Q2 25 | $31.4M | $151.0M | ||
| Q1 25 | $40.8M | $1.0M | ||
| Q4 24 | $43.0M | $231.0M | ||
| Q3 24 | $55.5M | $152.0M | ||
| Q2 24 | $40.0M | $162.0M | ||
| Q1 24 | $50.1M | $14.0M |
| Q4 25 | 14.2% | -35.3% | ||
| Q3 25 | 35.5% | -89.8% | ||
| Q2 25 | 18.2% | 44.2% | ||
| Q1 25 | 24.4% | 0.4% | ||
| Q4 24 | 25.4% | 78.6% | ||
| Q3 24 | 33.5% | 47.6% | ||
| Q2 24 | 24.9% | 45.0% | ||
| Q1 24 | 31.8% | 5.4% |
| Q4 25 | 0.3% | 110.0% | ||
| Q3 25 | 0.3% | 163.2% | ||
| Q2 25 | 0.6% | 23.7% | ||
| Q1 25 | 3.6% | 31.6% | ||
| Q4 24 | 0.4% | 17.7% | ||
| Q3 24 | 0.2% | 17.6% | ||
| Q2 24 | 0.4% | 19.2% | ||
| Q1 24 | 0.2% | 24.9% |
| Q4 25 | 5.46× | 6.64× | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | 2.94× | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | 3.73× | ||
| Q1 24 | 4.66× | 1.11× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
