The Annual Technology Conference Will Take Place Sept. 24-26 in Seattle CHARLESTON, S.C., Feb. 21, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, is now accepting speaker proposals for bbcon 2024, happening Sept. 24-26 in Seattle, Washington. Speakers can submit proposals until March 15 to be considered. bbcon is the tech conference that fuels impact—bringing together the Blackbaud community to share, learn, inspire and innovate. The conference wi ...

Blackbaud Award Management™ is a comprehensive, integrated scholarship management platform for higher education and K-12 institutions and foundations, allowing students to apply for all awards using one intuitive and streamlined application process and eliminating many time-consuming administrative tasks. This leads to improved awarding, reporting, compliance, communication and stewardship. Education Solutions Blackbaud Student Information System™ makes it easy for schools to manage schedules, transcripts a ...

Blackbaud's Optimized Donation Forms help social impact organizations raise more, streamline the donor experience, simplify administrative tasks and reduce processing costs CHARLESTON, S.C., Feb. 14, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today announced the general availability of its new Optimized Donation Forms for U.S. Blackbaud Raiser's Edge NXT® customers. The Optimized Donation Forms empower social impact organizations to raise more ...

Blackbaud (BLKB -15.16%) stock is sinking Tuesday. The software specialist's share price was down 12.6% as of 3 p.m. ET, according to data from S&P Global Market Intelligence.Blackbaud published its fourth-quarter results after the market closed yesterday. While the company's non-GAAP (adjusted) earnings per share of $1.14 beat the average analyst estimate's call for per-share earnings of $1.05, revenue for the period missed Wall Street's target. The company posted sales of roughly $295 million, while the a ...

Blackbaud (BLKB) reported fourth-quarter 2023 non-GAAP earnings per share (EPS) of $1.14, which surpassed the Zacks Consensus Estimate by 9.62%. The bottom line increased 67.7% year over year.Total revenues jumped 7.4% year over year to $295 million, driven by strength in recurring revenues. Revenues missed the Zacks Consensus Estimate by 1%.Total recurring revenues (contributed 97.4% to the top line) in the reported quarter amounted to $287.3 million, up 8.4% year over year. One-time services and other rev ...

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this presentation consist of, among other things, statements regarding future operating results, all of which are based on current expectations, estimates, and forecasts, and the beliefs and assumptions of the Company's management. Words such as "believes," "seeks," "expects," "may, ...

Financial Data and Key Metrics - Adjusted free cash flow margin improved to 22% at the midpoint of guidance, up from 14% in 2022 and 19% in 2023 [6] - Full-year revenues for 2023 were $1,105 million, up 4.8% organically, with adjusted EBITDA of $356 million, a 36% increase year-over-year [20] - Earnings per share increased to $3.98 in 2023, compared to $2.69 in 2022 [21] - Adjusted free cash flow for 2023 was $214 million, up from $154 million in 2022, representing a 19.3% margin [21] - For 2024, revenue is expected to be between $1,170 million and $1,200 million, with organic growth projected at 7.2% [22] - Adjusted free cash flow for 2024 is guided at $254 million to $274 million, with a midpoint margin of 22.3% [38] Business Line Data and Key Metrics - Contractual recurring revenues grew 6.4%, transactional recurring revenues grew 12.5%, and total recurring revenue grew 8.4% in Q4 2023 [19] - Non-strategic one-time revenues declined by $2 million in Q4 2023, representing a 1-point drag on total revenue growth [19] - The company is accelerating investments in AI and cybersecurity, with incremental costs expected to ramp up throughout 2024 [26][27] Market Data and Key Metrics - The UK statutory tax rate increased from 19% to 25%, impacting the company's cash tax rate, which is expected to rise to 24.5% in 2024 [6][37] - The company is leveraging cloud environments, with CapEx expected to decline substantially as data centers are shut down and migrated to the cloud [6] Company Strategy and Industry Competition - The company is focused on driving innovation, particularly in AI and cybersecurity, to improve efficiency and profitability [6][26] - The company is transitioning from 1-year to 3-year contracts, with 35% of the base renewed on multiyear contracts in 2023 and an additional 30% expected in 2024 [46][52] - The company is investing in AI-driven product capabilities, such as online donation forms and AI-powered insights, to enhance customer value and drive revenue growth [27][28] Management Commentary on Operating Environment and Future Outlook - The company expects continued improvement in profitability and cash flow, driven by cost reductions, revenue growth, and operational efficiencies [6][20] - Management is optimistic about 2024, with expectations of higher growth rates, improved margins, and continued momentum in the business [33][75] Other Important Information - The company repurchased approximately 500,000 shares for $41 million in December 2023 and January 2024, with a new $500 million repurchase authorization [16][17] - The company is focused on returning capital to shareholders through stock repurchases and maintaining a strong balance sheet, with a debt-to-adjusted EBITDA ratio of approximately 2x [39][40] Summary of Q&A Session Question: Impact of data center shutdowns on cost reduction and gross margins - The company expects substantial CapEx reductions as data centers are shut down and migrated to the cloud, with some duplicative costs remaining during the transition [6] - Long-term efficiency gains are expected from cloud environments, with additional cost savings from automation and AI investments [6] Question: Sales capacity and productivity improvements - The company has the right team in place, with no substantial headcount increases planned, but significant opportunities for productivity improvements and quota attainment [13] Question: Timing and impact of AI investments on EBITDA margins - AI investments began ramping up in Q4 2023 and are expected to continue throughout 2024, with some costs falling off towards the end of the year [26] Question: Pricing strategy and contribution to revenue growth - The pricing optimization program is going well, with 35% of the base renewed on multiyear contracts in 2023 and an additional 30% expected in 2024 [46][52] - The company is focused on driving innovation to justify price increases and multiyear contracts [46][52] Question: Corporate impact market dynamics - The corporate impact market is large, with potential for multi-million-dollar contracts, but it is subject to discretionary spending [63] - The company has a strong presence in this market, with significant opportunities for cross-selling and growth [63]

Blackbaud's Innovative Software Solution Helps Provide Holistic View of Constituents CHARLESTON, S.C., Feb. 9, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today shared how Mississippi State University's Division of Development and Alumni is using Blackbaud CRM™ for alumni engagement and to help drive fundraising efforts. A Blackbaud customer since 2005, the Division of Development and Alumni at Mississippi State University serves its 161,000 li ...

Integration Between Blackbaud Products Enables MSU to Integrate Their Fundraising and Accounting Software CHARLESTON, S.C., Feb. 8, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today shared how Morehead State University Foundation has integrated Blackbaud Financial Edge NXT® with its existing Blackbaud Raiser's Edge NXT® software to elevate their operations. The Morehead State University (MSU) Foundation fundraises and invests funds to support c ...

Through Partnership, Blackbaud Invests in Employee Wellbeing and Community Health CHARLESTON, S.C., Feb. 8, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today shared ways the company and its employees are recognizing American Heart Month in February through an ongoing partnership with the American Heart Association, the nation's oldest and largest voluntary organization dedicated to fighting heart disease and stroke. Blackbaud has been an Ameri ...