Core Viewpoint - Blackbaud's recent earnings report shows positive growth in earnings and revenues, although some metrics fell short of consensus estimates, leading to a mixed outlook for the company moving forward [2][3][12]. Financial Performance - Blackbaud reported Q2 2024 non-GAAP EPS of $1.08, exceeding the Zacks Consensus Estimate by 3.9% and reflecting a 10.2% year-over-year increase [2]. - Total revenues for the quarter reached $287.3 million, a 6% increase year-over-year, but missed the Zacks Consensus Estimate by 0.5% [2]. - Recurring revenues, which contributed 98% of total revenues, amounted to $281.4 million, up 7.2% year-over-year [3]. Margin Analysis - Non-GAAP gross margin improved to 62.9% from 61.6% a year ago [4]. - Total operating expenses decreased by 19.3% year-over-year to $120.5 million [4]. - Non-GAAP operating margin increased by 260 basis points to 30% [4]. Balance Sheet & Cash Flow - As of June 30, 2024, Blackbaud had total cash and equivalents of $831.1 million, up from $382.9 million as of March 31, 2024 [5]. - Total debt decreased to $1.0219 billion from $1.0398 billion over the same period [5]. - Non-GAAP adjusted free cash flow was $36.4 million, down from $43.6 million in the prior-year quarter [6]. Share Repurchase and Capital Allocation - Blackbaud repurchased approximately 3 million shares in the first half of 2024, representing 5.5% of the common stock outstanding at the end of 2023 [6]. - The board approved an $800 million stock repurchase authorization, aiming to buy back up to 10% of common stock outstanding in 2024 [6]. Future Outlook - Blackbaud reiterated its 2024 financial guidance, including a significant one-time expense for cybersecurity initiatives [7]. - The company expects non-GAAP revenues between $1.164 billion and $1.194 billion, with non-GAAP EPS anticipated to be between $4.12 and $4.38 [8]. - Interest expense is now expected to be between $52 million and $56 million, and capital expenditures are projected to be in the range of $65 million to $75 million [9]. Estimate Trends - Estimates for Blackbaud have trended downward over the past month, indicating a potential shift in market sentiment [10][12]. - The company currently holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the near term [12].

Highlights include updated financial education courses, a new health and wellness course, and new platform features for educators CHARLESTON, S.C., Aug. 7, 2024 /PRNewswire/ -- EVERFI® from Blackbaud®, the leader in powering social impact through education, is releasing new and updated K-12 digital resources to its learning platform, just in time for the new school year. Updates include covering important topics like developing smart money habits, the potential benefits of working with a financial advisor, ...

Blackbaud (BLKB) reported $287.29 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 6%. EPS of $1.08 for the same period compares to $0.98 a year ago. The reported revenue represents a surprise of -0.51% over the Zacks Consensus Estimate of $288.75 million. With the consensus EPS estimate being $1.04, the EPS surprise was +3.85%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 000-50600 Blackbaud, Inc. (Exact name of registrant as specified in its charter) Delaware 11-2617163 (State or other jurisdiction of incorpor ...

Blackbaud, Inc. (NASDAQ:BLKB) Q2 2024 Results Conference Call July 31, 2024 8:00 AM ET Company Participants Tom Barth - Head of Investor Relations Mike Gianoni - Chief Executive Officer Tony Boor - Executive Vice President and Chief Financial Officer Conference Call Participants Brian Peterson - Raymond James Rob Oliver - Baird Matt VanVliet - BTIG Parker Lane - Stifel Kirk Materne - Evercore ISI Operator Good day, and welcome to the Blackbaud Inc. Second Quarter 2024 Earnings Conference Call. Today's confe ...

This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this software and services provider in the nonprofit sector would post earnings of $0.85 per share when it actually produced earnings of $0.93, delivering a surprise of 9.41%. Blackbaud, which belongs to the Zacks Computer - Software industry, posted revenues of $287.29 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.51%. This compares to year-ago revenues of $271.04 million ...

PRESS RELEASE Charleston, S.C. (July 30, 2024) — Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today announced financial results for its second quarter ended June 30, 2024. Second Quarter 2024 Results Compared to Second Quarter 2023 Results: • GAAP recurring revenue was $281.4 million, up 7.2% and represented 98% of total revenue. Non-GAAP organic recurring revenue increased 7.2%. • GAAP income from operations was $42.1 million, with GAAP operating margin of 14.7%, a ...

Revenue Growth More than Doubles Year over Year with Significantly Improved Profitability; Blackbaud Board of Directors Approve Expanded $800 Million Stock Repurchase Authorization "We continue to execute on our strategic initiatives, and I am optimistic about the opportunities ahead in the near, mid and long-term," said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud. "Blackbaud is a clear market leader with a path to penetrate even further into a rich market opportunity ...

Blackbaud Forward-Looking Statements Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are b ...

The Past Year Saw a Significant Increase in In-Person Volunteering, Upward Trend in Giving to International Organizations CHARLESTON, S.C., July 24, 2024 /PRNewswire/ -- The Blackbaud Institute, a research lab at Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today released a new spotlight brief sharing insights from the company's annual Corporate Social Responsibility (CSR) Industry Review, which analyzes CSR program data and employees' philanthropic engagement. The ...