Blackline Safety Reports Record Fiscal 2025 Revenue of $150.5 million and Adjusted EBITDA of $6.1 million

Executive Summary

• Blackline Safety reported FY 2025 revenue of $150.5 M (↑18% YoY) and record Annual Recurring Revenue (ARR) of $84.5 M (↑27% YoY).
• Adjusted EBITDA turned positive for the full year at $6.1 M (previous year loss of $2.4 M); Q4 adjusted EBITDA was $2.2 M, marking the sixth consecutive quarter of positive adjusted EBITDA.
• Net Dollar Retention reached 128% in Q4, and the company announced launch of its next‑generation G8 wearable with commercial shipments slated for February 2026.

Key Details

• Revenue Breakdown (FY 2025 vs FY 2024):
• Total revenue: $150.5 M vs $127.3 M (+18%).
• Service revenue: $90.5 M vs $69.5 M (+30%).
• Product revenue: $60.0 M vs $57.8 M (+4%).
• Quarter‑End (Q4) Highlights:
• Total Q4 revenue: $39.3 M vs $35.7 M (+10%).
• Service revenue up 30% to $25.5 M; product revenue down 14% to $13.8 M.
• Gross margin record high 67% (up from 61% YoY).
• Service gross margin 82%; product gross margin 40%.
• Profitability:
• Adjusted EBITDA FY 2025: $6.1 M (vs loss of $2.4 M in FY 2024).
• Q4 adjusted EBITDA: $2.2 M.
• Net loss FY 2025: $8.7 M (down from $12.6 M YoY).
• Liquidity: Cash & short‑term investments $46.6 M; total available liquidity $76.4 M (up from $60.4 M).
• Key Metrics:
• ARR: $84.5 M (↑27% YoY).
• Net Dollar Retention Q4: 128%.
• Six consecutive quarters of positive adjusted EBITDA; 35th consecutive quarter of top‑line growth.
• Geographic Growth: U.S. revenue +16%, Canada +22%, Europe +19%, Rest of World +21%; driven in part by a multi‑year purchase agreement with ADNOC (Abu Dhabi National Oil Company).
• Product Launch: Introduction of G8 connected safety wearable; advanced gas detection, lone‑worker protection, real‑time communications. Initial commercial shipments expected February 2026.
• Management Changes: CFO Robin Kooyman to take maternity leave Feb 2 2026; Chris Curry, CPA, CA appointed Interim CFO.
• Conference Call: Scheduled for 11:00 a.m. ET, Thursday Jan 15 2026 (dial‑in details provided).

Notable Quotes

“Fiscal 2025 was a milestone year for Blackline, with revenue reaching a record $150.5 million and Annual Recurring Revenue climbing to $84.5 million,” – Cody Slater, CEO & Chair.

“The G8 has expanded connectivity, an enhanced full‑color display, integrated communications capabilities, and a future‑ready architecture… Initial commercial shipments are expected to begin in February 2026.” – Cody Slater, CEO & Chair.