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Blackline Safety Corp.: Blackline Safety Closes Record Year with 42% Increase in Recurring Revenue and $38.4M Overall Revenue
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Key Financial Information
Annual revenue for fiscal 2020 was $38,377 compared to $33,271 in the prior year, an increase of 15%. Service revenue was $25,517, an increase of 42% compared to $17,983 in the year prior. This growth was driven by new and recurring customer renewals of the Company s connected safety monitoring services. Sales of Blackline s connected safety hardware were $12,860 in the year compared to $15,288 for the prior fiscal year.
Fourth quarter revenue was $11,550, an increase of 7% from $10,746 in the comparable quarter of the prior fiscal year with the United States up 14%, being the largest geographic growth region quarter-over-quarter.