BL - Earnings call transcript Q3 2018

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Operator

Good day, ladies and gentlemen, and welcome to the Q3 2018 BlackLine Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference call is being recorded for replay purposes. It is now my pleasure to hand the conference over to Maria Riley with Investor Relations. Ma'am, you may begin.

Maria Riley

you participation thank and afternoon, for today. your Good is Founder and and me Partin, on Executive Tucker, call the BlackLine; With Chief Therese Officer Financial Officer. Chief Mark of

started, forward-looking Private call that the forward-looking These not that of get represent Before future to regarding including statements Securities meaning are outlook only Act would expected plans, XXXX. during conference made within objectives historical note and we Litigation our this Reform certain I of this statements those statements the our date the facts, of conference like are performance call. as of

unless Also, financial non-GAAP today. in While except on and discussion information, materially have this required forward-looking at made because events uncertainties. result filed undertake will and our We use otherwise all we law. SEC are is any our are a differ versus are statements a of release, schedule available press or statements applicable new be may results our and could which on Investor on on showing do non-GAAP Relations A currently to our based not results the believe, as alter any why we disclaim update or the current statements, otherwise, reconciliation expressly forward-looking GAAP be risks of reasonable, measures our measures call obligation as found to investors.blackline.com, with and non-GAAP. discussed financial we stated, whether future website expectations actual X-K subject or by Form

call over to I to the Therese Now, will begin. turn

Therese Tucker

October environment the been we went for as It during of you thank strategy. Blackline today. continued well and term of demand this block further to XX, a customer of as to see validation our everyone on QX in market rates. key have believe building size In continued customer XXXX and position a since years time, the and and we relationship strong this growth for has solid importance renewal Good afternoon, that public as two us opportunity improving and of competitive the long year, joining

hires on we strengthened scaled of leadership two and believe team In quarter beginning number COO organization. and am designed of business year, fact, our to key the summer. of This as a of fundamentals progress IPO. our the initiatives we pleased sales March Huffman the XXXX, since leadership for position. established we maintain we addition in At next in the the extend with made those, I particularly the with these began in This during sales growth. the phase Marc senior new our have

the all will near that to making that in as have leadership who out sales, our already Otto disruption, and identified the sales can take have the are take sales two Chief to process will benefit models to in from team Since minimize market organizations Andres create our new and is while and customer making Marc joined those hires. team Marketing us some we against of changes, spoke, the product changes, offering the build playbook their Susan its cherishing of potential to to in Susan and Botero Officer its look for new understands time. with recent our Blackline our the addition last value which marketing and and we continued Blackline's to is have to premium customers. entrants. positioning results areas and his core the on marketing organization Blackline BXB experienced customer differentiate CallidusCloud key working driving benefits marketing changes engagement improvements While level. next to market is new the partner term as team, to go strengthen the joined of sales can leadership at its people. us global expertise and Andres that, help great articulate team will whole of the leader, capabilities, marketing. customers Andres global importance Blackline's Blackline is centered will an be People people from help our responsible always strategy the Officer. brings that we all skilled functions who to our values his Chief us across a special. make Andres been and that clearly market

creativity high could HR experienced be more for she will of strong be best to the the work developing attract our team strong with and employee we an so As and team fantastic performance Blackline record upon management with responsible class world has. I people. not a continue building retain engagement, track fostering and forces culture that leader that productivity, pleased

quickly to team engagement efforts. moving XXXX our their market go and are expanded leadership planning initiatives we scale customer for beyond. Together, support teams, is Our and to

XX Conference November on Days Our InTheBlack know and will to to get Las Analyst and better. with Vegas an in them you opportunity provide

going in team The our integrator data multi-pronged largest have are strategic continued approximately platform and like multi-year developing strategic with customers support customers. team enhancing to quarters. and success. initiative. has leadership engagement landed our touch executing of system achieving our that size public, on our our to customers and have top a building Three large we a expanding inside strategy at both quarter. consulting great early digital important service we eight so to a on are has the creating product customer and project. of XX% we and partner ecosystem, effort grown success top can the XX% expect business. expansive our footprint we digit to smart to great drive in average The have do finance five of deal our rate grow Since we more deal included XX that three results. that addition XX by transformation this think has hub which show date lumpiness every last spot strategy the progress a our a quarter-to-quarter, average These of you XXXX, few We and increased and in larger have double metrics on points enterprise deals our XX%. engaged represents drive high well share customer that In our would to in close, are This XX customers I a a as them in user value of top longer cause over opportunity. customers intercompany by cycles, and which price have estimate of XX deals sales the confirm top and fluctuate These as is

fewer quarter, QX. record number the deals closed Following large we in closed in the second deals of large

lumpiness downside type the on expect forward, we result, to QX continue in As focus and to a this in upside see we saw and deals. fluctuation of going of QX we larger the as

trend partner the attach of partner rates have front, influence. a and On we increasing seen

pipeline not and better it we strong While have straight a line, win is opportunities. included partner XX% our of saw largest a rates deals quarter and this of a

included of are but Our North key our creating transformation benefits were strong not very America to the partners finance in co-marketing also synergy efforts in and believe and momentum XX educating with these IT and events and only Blackline activities accounting projects. buyers, digital on finance alone. We the

Blackline. longstanding our enabling its relationship Additionally, price contracts, sell With of processes, to SAP SAP already strengthening add partnership, our the solutions afternoon, team release Blackline are press Blackline same will will the as announced this with SAP customers sales Hundreds portfolio. make the from software to this this agreement. and of in using incentives conditions list, and for new our benefit reseller rest it even a adopt customers as and easier are with expanded agreement worldwide new to we SAP with we its SAP

partnership, products. global and are build, core believe dialed existing remains did the increased strategic partnership to As was the footprint level. between healthy term on close ICH and The to we as products will activities deals but excited pipeline any in sales take time with a time back we focus new customers not our our take to ICH a long any this SAP for to had successful great balance ICH it and expand ensure us this accelerating for the We for we our value be with strong expected, opportunity strategic to to quarter and we next creates implementations. to and

doubled we ICH creating the We of ICH number of develop a reference customers drive the than the market of and believe instances strong is sales. more future further help in production. book During quarter, to important

I quarter, partners conduits As prospects the important we our which before, mentioned during held customer are customers, many to leadership. to thought extend with events, and engage

across having large each in deep XXXX of and Blackline, best to the of the information and a base industries, customer. the gain of cases from insight and visibility close excellence ERPs. have practices we we At benefits exchange use customers of additional areas One is

the for at customers. insight change be to market our this provide our drives value great to In our our us to addition enabling through a be of in ability advisor trusted forefront software, and

This quarter, Australia. US we sponsors in very practices Deloitte, included KPMG, summits international Participation summit events practices Melbourne, at and and across best UHY and hosted these good our held partner first best the was Clearsulting. ever

called these a a welcomed challenges which the partners quarter. tax, airlines. forums, and agility client business US industries of of other based Blackline several jointly conditions. technology finance changing Blackline and in client variety different along the Seattle global two We events helped and and the The one they customers also how third leaders and in are leading to of functional introduced business points format customers in of new to their world's strategic These from one by hosted increase and included represented of they using discuss transformations companies face largest event forum various are we our IT strategic accounting our the

intercompany with implementing and compliance, processes. Blackline's Blackline's mid-market Excel-based in growing reconciliations. quick using fluctuation tandem functionality to Ultimately, our several our company management task ERP the partnership company ability the billion the company areas demands to close organization excessive unify to needed reconciliation the what to business. control will solution influential needs a were analysis competition. our close, and going and technology such This for journal had that move potential solution an that and wanted visibility management with fast SAP away was automation. was started fitness accounting of ability with a some the and account be ERP reconciliations countries in solution that the the for their with further around also depth visibility, A for the with their hub Now, Blackline company worldwide new SAP improve automated XX in expansion biomedical transformation that This on-prem PWC. was in deliver information Blackline gaps reassurance risk the around smart quarter. with plan the This Ariba to more key of greater not their to transformation identified global entry control. will XX processes. of I than the in would to midst In implement the built was was deliver organization and were in Blackline company included just Moreover, scale their a A close extending company their a third manual like address environment automate in flexibility consulting placing entry in is in project. entry, journal integrate and Blackline from and provided were company Prior investing Blackline our newer journal a of close positioned pillar was rapidly A process by equipment Europe, on meet process as processes looking could only close to with compliance. net X-year to solution wins few The their the their completed about to supported over win. financial financial employees would process, selecting leading firm, XXX basic but areas of help breadth beyond into other several which A account share their in that a technology reconciliation The rollout. audio their you ahead transformation global teams. material cloud customers a compliance. company system reduce version. $X SOX with needed spreadsheets a financial necessitated for a from solution Blackline, of that solution accounting growing migration accounting reconciliations operating platform to the and journeys selected manual management

solution. on to entry made cloud quality and In This I came as customers we and the with initiatives. journal reconciliations, and leadership at was but offered evaluated to the they process, breed end, our identified of good financial have migration built a found vendor, with the second of implementing part rolled quarter functionality position Blackline could solution As by transaction made company the matching management strengthen ERP we by the be best in volume have close to particularly being high add reconciliations. their continue that account lacking, phase. the when financial and will managing of the pleased out more In continue team task their it summary, in forefront the make we to as our executing Blackline's leader progress transformation. more changes begin not

to Mark discuss to Now, financials. I'll turn call the the over

Mark Partin

and Therese everyone. afternoon you, good Thank

today As my a during quick otherwise noted, reminder, are non-GAAP. remarks all unless numbers mentioned

year. standard ASC went this guidance XXX and effect that the this results beginning at our Additionally, discussed on of are into the on call new

revenue our purposes of XX% filing. of to deals year-over-year Total GAAP than QX $XX historical million. expected a quarter financials helped comparison better in in for publish revenue the quarterly The quarter. third will drive timing We grew XXXX retrospective

quarter Our grew XX% revenue, in XX% mix revenue year-over-year. the subscription of consisted which

to for continued see XX% total. We a of good our which and across strong all solid of international, the aspects global including represented our business, solutions performance demand

on initiatives We are making year. year on our growth revenue guidance track the progress to achieve for our and for good the top

XX% Moving midmarket. for year-over-year. customer of net added This to the our growth new and the customers and total were strategic in quarter, Blackline XXX,XXX, and did users the key X,XXX, growth XX% year-over-year. enterprise total count between grew size. of of total to representing across increased globally our representing not deal quarter but of over approximately XX% performance to the The number both brings increase we number metrics Sales XX% users, products XX

rate retention to XXX% expected revenue net for the year. range was XXX% our based dollar within Our XXX%

last customer has Notwithstanding this for in so One their This was we our loss, negatively gross began into of have of we of overall. the raise margin and margins utilization impacted higher the year initiatives we pleased users. are satisfaction, both and churn lifetime many XX% company. year, believe are working. customers to Subscription following churn been on at remained progress customer were value consistent retention our Gross the that strong their integration focused top last acquired implementing drive rate higher and level acquiring QX with our planning end XX%.

quarter for partners we income. continue as a is people fifth marketing net and dropped in initiatives and for our to of a invest engagement process our which believe from row conference quarter, user the strategic growth. and and support business, and is We and infrastructure bottom we line in came generated investments positive in our to have than the which timing of from higher customer products, this QX. our $X invested healthy our the scale balance revenue in to QX, In million, InTheBlack better in The related net income all sales of to expected income

to making on $X year. track the XXXX year operating hit down goal stated a due of to $X and in the and at and the flow equivalents for We securities. year cash cash operating third and free for of million full approximately quarter quarter million be flow with marketable flow sequentially our As the be we We profitable a the full conference. approximately to $XXX quarter to cash cash We in expect generated positive but XXXX. free fourth profitable, the expect cash ended result, million remain

on presented, deem outlook, results move to I are walk full quarter would to the XXXX impact fourth of adopting XXXX that through on our be QX XXX which and I to Before the we like ASC also non-material. you year comparative

$XXX,XXX was The million. a $X.X XXXX to impact. X% QX QX had restated an expenses reduction the or expected, operating decrease XXXX approximate revenue As

and to Starting incorporates range XXXX million expected fourth year let's the reminder outlook, a to quarter is Now, which QX, revenue full the ASC as million. XXX $XX move to GAAP standard. of our with in $XX total be

we On EPS. both for be and line, non-GAAP approximately the bottom expect income to net breakeven

report slightly note shares fully positive please be is shares, purposes, count diluted income, if negative. million share we if versus XX.X million our XX.X that modeling For will net it

in of total in year million million range to million. expected range For Non-GAAP is diluted $X.X continue expected of in full to XXXX the be be per $XXX.X net share lastly, the to income revenue expect net to between is the income average GAAP XXXX, to be $XXX.X Utilizing $X.XX And million, million. $X.X weighted non-GAAP positive year. to and $X.XX. expect XX.X we flow cash full shares we the free of for

happy would be Now, Therese your questions. I and take to

Operator

will come line our Instructions] first question with the of And Baird. Rob from [Operator Oliver

Rob Oliver

quarter deals, a a on size. first of the So the had deal some fantastic you obviously off lumpiness on coming you one around large large where just are guys the quarter is

go of get around we customer you slightly of might customer Just in bit structures team the rising? little advantage to but the for how forward, it activity that quarter of have volume the our changed to I should and Mark and real kind that mid-market. I out know a market the there customers, sales to count quarter market the seem last of on going smaller, mid-market a you been some more customer called because know have we guys nice then might mid-market up had record rest wanted in count parameters how think color be see about showing that year to sets in do the me higher and them some

Mark Partin

go I'll reverse. in

landed right the end good and average selling of high the highest success. But they're the the have date. we deal even on size you we finding very I range mid-market, continued they the that in right, size count, to is QX, good think, logo customer trend what in and you're customer noted of new seen where at saw success

years, more think higher number velocity, and deals the they're getting that early of of a bigger at was lower that the smaller So of I and end they're that in higher end deals, at the range that's the really deals.

number that impact of So the deals. does

other it's has seeing initiatives getting Therese they large they lumpiness, land, byproduct addressed because in this become great. right. of these when QX, to deals about comments to get place. in where in that think your great But we're very of don't, I from they point We're initiatives that lumpiness. putting it quarter sort these of are in her the quarter QX,

so should a we see think, these initiatives, we cautious near want we about thoughtful as as of be progress billings in to metric. expect the lumpy and variable to towards and I that kind term

Operator

question next with of the come will line Our Blair. from Suri Bhavan William

Bhavan Suri

Hey. bit little just touch seems I It guess, like to investments. because a wanted that's when going the quite business. some of past on you look here international I of the at in Cloud got what some October, then joint quick there announced Japan the color showing and are the, I've a geos up. new and was follow just then with venture just nicely,

Therese Tucker

computing Cloud Well, I'll in with Japan. We was a partner start our new Japan it into choice logical and Japan. with to did move venture

as just the so geography about we it's that growth. actually we're part size that at single problems region push a does there picked so company it If and and actually you of is think in have. APAC market our great optimistic farther continued prospects every look term the its east the great every our I long single product about partner, longer term What's of as from a our well address

Bhavan Suri

in sort on to thinking SAP obviously in there sort on between maybe SAP recommending there's more the and guess, terms a the a how some of are happened in changes, there SAP terms of takes positive of a I and get of is And more a bit then, is you the terms little maybe little real a to you in terms just just relationship what of is I but little wanted put can agreement, color touch there I going not that much, there, that color of relationship forward. there work going as of puts guess,

Therese Tucker

business in want to and we is most of SAPs this saying than order five start in solution how successful had for that I going work or endorsed SAP place actually going to to more by partner EBS it's to were that date I'm about just years. a And proud talk Well, we've partnership really that. with forward,

So term expanded really be partnership with the Okay? help new long very at reach. I over look something this and our positive going as to that's us

not like latest ERP more and If you it, globally, all think over is that customers. have looking yet billion financials customers in that and that customers, XXXX has think the ERP XX,XXX I right that revenue I than at numbers a Blackline about are SAP X something was these

think company. a that extended we positive the So reach the term long great on can had for embarking really by is be this partnership that

Bhavan Suri

that Therese, there incentive let the fraction push just me of to and guess, it's up not trying a bit. they're incenting I guess, sort how understand but a back I out, I'm giving plays past, people, guys, quite loosens incentives? incented it's the sales customers. a for and relationship your you been great they've successful you for it them that been the is obviously Do for in their think

Therese Tucker

No. Blackline true. is on Actually, sales can are way When they paper, people their sell more the opposite incentivized. SAP's

Operator

JMP Securities. will next Our Walravens of come line from with question Pat the

Matt Spencer

Hi. for This Spencer Pat. is Matt on

You little going changes and sales a some bit going? to you on the take little on talked and they bit little how changes bit about and a Can details more time provide of they're just are color implement. those might that a

Therese Tucker

about things doing, areas. sort think of I'd is the Yeah. I four that Marc Huffman it When Absolutely. into break

was of all facing we the and activities first and services. customer sales, we did alignment we're I better - marketing that seeing Marc think put One underneath things across

Marketing silos been Officer. is huge. know that those right, and Number sure the very and saw you and I has making been expanding Okay. down Andres proactive that about team, And just communicated just we passed all breaking as our he's being properly leadership added everything Chief two,

some of to very is besides billion really on added that. bring about and is the deep one right, grow personality how conventional all just revenue he's conventions X and Number that great playbook a brings we him to get software and hired normal to his really with he a incredible our of get Marc of there and things talent allocation. that what positive standardization we've companies that are to knowledge does do that resource in Marc there sort the how sort three, so to I that of think I appreciate are SaaS operational reasons and on certain bringing

and really So doing I then expansion. work partnership important. finally in think is done it's And our the he's that

So put I areas four those across your it that I would now. right answers hope question.

Matt Spencer

then and can you more provide the what don't with details regards customers one environment you're to adopt IT mind, And you appetite spending if some just to on seeing technology.

Therese Tucker

get that X vendors there, We sure did not want see make is out that at all in we've don't don't overall IT a think tremendous change the in market but have - SaaS, they this change. because quarter. look seen think big I We by things the a closer okay, do and to see there I vendors that a they that best simply they million

Operator

next the will come Our with of question Bracelin line Brent from KeyBanc.

Brent Bracelin

I to want to go SAP. back

kind you force short and those led change term Specifically what incentives, today run, And change, in about as the Therese. risk two, kind asking kind did how three trying of drag to sales of why being talk you the to so think why the incentivize about long a one questions SAP lastly, this now, the the make around kind there versus now, Is of then you of do a term just near of positive, about the things. the then think before?

Therese Tucker

but they're are, all not we're the to think, terms what commercial You this okay, disclosing share. up very positive point, at I agreement, are a concerned. brought revenue those revenue they is and This share

Okay.

the that has globally, In all term and SAP of probably it's towards terrific the what terms cons the terms pros accelerator. think working just long the over a knowing couple it's something discussed right, right, now, we've why on been in I all really of what that of, now, is are, years for and reach been a

right. We to to all get may shouldn't say ever, I upon are thousands having thousands sales of well, we ever, upon not thousands going never people,

able And think so of very take to that a being important thing. I is advantage

and build like it we that we to a going we over all this again that's just when partnership. to the have why where had the got has Now and point, from profit place in terms do that were all time when we we been really felt parties to it to were to decided now, in acceptable

I questions. think one your of missed I

about Sorry that.

Brent Bracelin

for around, The term last just you long about being was that's and positive. talked you a one Mark this

look there term? accelerating that Given contribution relationship, you Is in the we any change saw impact or growth the this the change an because SAP this from there SAP risk run or year. a, near paperwork in to be actually, at and could of a in obviously, change the the channel SAP short if accelerating more just

Therese Tucker

material our term not expected results in simply is It believe our don't our guidelines. in with SAP any to relationship so quarter the nature have that's impact now. fourth and already of I reflected of because long

Operator

will Our next question Mark come of from the Morgan. line Murphy with J.P.

Unidentified Analyst

Mark. for Thanks question. my This sitting taking in is [indiscernible] for

billings lumpy not business clear picture understand First may and doing. is the, mean, of how go is sometimes I provide can I the question a

seen help general could your any bookings and versus your impact So from the in expectation recent you to us perspective changes. performance and market you maybe the quarter the characterize from of sales/go kind have

Mark Partin

the to case. When that variability. many create it deals and periodically deals have have large you you said get we the what you we and in that talked creates that it shift, this renewals of that and billings does been what variability sort our repeat the time think the is size for QX public do about variability of of have things because is that that sort I'll closing that QX So I each from quarter we've timing latest

So out if I you expectations would over billings where trend say we time, that landed. it's of within our

don't deals of and why is unpredictable we sort land you reason when why lumpiness around the expectations is Now on large this guide it.

is the it probably predict. that's has think from best a just quarter, - I quarter way to that characterize to difficult this So to

Unidentified Analyst

believe. connector Oracle a close your connector Therese, I into smart ago the launched of already expansion first step you And at into How an all? I couple have is significant on press didn't essentially that, saw the EBS the release days that to Oracle is and

Therese Tucker

ways the it's and have Oracle certainly a customers now of number move for We from in - connector that got that there for close other more out information make smart do capabilities in that really data getting the our time this and different in other about to direction of we've We that a makes ERP controlling in which It sense? up to the connector That's customer at the our back and that's third it always of real of actually and much right is part is sure base, have that This precisely this really, not for biggest is easy is inside. in excited and were we so right ERPs the moving forth. directional because Oracle. we now of want Does to that's data point populations true. Blackline. data makes and bringing through this connectors

Unidentified Analyst

Yeah. Got it.

Operator

will SunTrust. our Tillman with Terry next And Instructions] [Operator question of from come the line

Unidentified Analyst

and and maybe [indiscernible] Terry. impact from question reconsider The ask sort on you're the demand wanted again XX on had I regarding that for you XXX was down prospects ASC using. a to any seeing up to tools customers. during Are of had pent has transition your the

Mark Partin

No.

like we pin of line, it we but actually our like. took, to amount looks to that that own been the and intense from knowing that impacting been straight priorities, really effort decisions it's haven't experience We know able what that able haven't down draw

better but consistent been of you we we can it's demand, on think demand. pent up look don't a see for in back have it, pretty maybe year and this sort call I sense or two, it a as

Unidentified Analyst

is, as And XXXX? could maybe if then into you key maybe just we eye areas question have on you your investment talk head one other about

Mark Partin

Thanks. Yeah.

Day you'll So our would and team talk lot strategies, be couple typical February going growth weeks, give we'll a us. At we're where in of meet planning Analyst in give for the we'll color of about invest. guidance to our around to that a we're

so can You areas our growth, partners be growth investing initiatives of global partnerships, driving demand. around and the will look we are that meeting trended Those key at and kind investments like. that our be all will where consulting like

Operator

from line Peterson Raymond Brian And question come James. the our will of next with

Brian Peterson

customers, if bit Was wondered a that the did typically some channel larger I've could Was let's migration to we lumpiness just So a that the a into And of mentioned that one X, you deals? pocket I fourth some well, your the we deals on X. of X, X, an just of or maybe to one seen lot of quarter you've from those say, see wanted maybe talked air parse X, And guys up from, hit the out. module bit. on to push SI and a historically, this quarter. up

you've seen the that seeing of past customers few that start kind activity module, those still are one you same over that For of years? type cell with

Mark Partin

Yes.

we just QX, These but are deals having respect timing the a growth, contributed large large that and them are it's in land With healthiness wasn't remains and and QX. XX-XX anything of will, We so fewer QX. one the predict. the Our expanding continued of them model new then and about a difficult There in to the demand. We there. landing still a thing QX, didn't in in but that know - perspective, it. expand - different. seeing to to saw balance or to of from balance know lose deals We

Operator

And line the our come question will last [indiscernible] from of

Unidentified Analyst

right thinking contribution that the helpful? SAP way I bit apples or you today, the would announcement SAP oranges out this on be of did mix anymore, now what in and in give the digging quarter that out agreement of the to about on kind still be is for but future, you I will any missed prepared I mean the that might SAP line guess in that's a and the not an remarks, more color was contribution giving item have the metric comparison that little just

Mark Partin

question. course. A good of Yes,

our some apple metrics in that the relatively percentage can So The SAP. be future, percentage will pretty consistent of with would be most that oranges in oranges, terms report in is - the be reported an of we be be plan previous may quarters what EBS it as revenue, With may XX% of and not agreement a in QX partnership forward SAP we'll a and of not we consistently. will what QX it's to but disclosing revenue wasn't in going respect it be. the and about partnership this factor

Unidentified Analyst

down last would from if account about dollar you year I sounded revenue just XXX. on new to like that off net been question a is, net to And net based quarter customer retention were here it's expecting had happen you due turn retention dollar it - maybe what it based from even the getting it two happened then to quick that the this looks a at metric, know the the I did and what do user guess like prepared have that it quarter was that not And metric revenue and metric caused to platform. second that from remarks customer points to really downtick. the too, to I'm churn

Mark Partin

but that. dollar did this it material We know tick do wouldn't it retention brought specifically. obviously so down, We for the rate have disclosing XXX range is year. though, up the within not impact net it our if the wasn't We're Yeah. on

the aware was XXX customer it to XXX. going this impact QX to was well in happy, us. in going away expect that We be We to and were long-term

also We the standpoint the user losing impacted from that that users those user rate. know

So than you headwind metric, those metrics give create three actually it metrics, for billings. you did include tell a the can when that two rather I

Unidentified Analyst

me. what come about you similar the that eventually was, we that to announced the - you closing last expect technology, one was extension Oracle to question Blackline I as data built And for flow SAP that just talked was off suite, if for And that with to close Oracle connector it the the SAP. today? for connector an eBusiness smart that off have smart can The guess or the you

Therese Tucker

ERP does, is Oracle not like smart simply that at point, control close bring in. actually this to It's At not this so to the information time. connector

Operator

in I'm further queue time. you. the no this Thank at showing questions

like to I'd now, over So hand back the to conference Therese.

Therese Tucker

you it a many do joining upcoming couple us bringing continuing our great opportunity please Thank you're weeks trust you in how in of forward theme meet seeing professionals organizations. uncertain for Do have our referrals for to Thank user Blackline our us to to going The an at and joining is customers our customers. thank so about and you their everyone there, this support your new up. We for look get us and Excellent. keep accounting and just of and a and partners of today in us you conference conference it's leadership build much see can trust building world to our what's help products. team, you to year's and today. in

Operator

disconnect. a conclude program and you day. may gentlemen, today's have and wonderful thank This participation on our all we does your conference. Ladies Everybody, for

BlackLine (BL) 4 Nov 182018 Q3 Earnings call transcript