Q: please up date your thoughts on blackline . it has been one year since last comments.
5i Research Answer:
BLN has continued to perform well, up 30% year-to-date. We have seen some of our prior comments materialize, where the company raised $34.5M through a bought deal offering and private placement. This was however overshadowed by BLN's ability to win contracts this year. BLN has secured three contracts since June, all over $1M, and one of which was $8.5M being the largest in the company's history. It has $10.7M in net debt, cash flows are still negative, and is still operating at a net loss (although shrinking). We continue to think that it looks good enough to start a position.