Blackbaud(US:BLKB) Prnewswire·2025-02-18 12:00Core Insights - Blackbaud reported significant improvements in its financial model over the past five years, with a focus on revenue growth, cash flows, and operational efficiency, aiming to become a Rule of 45 company by 2030 [2][4] Financial Performance - For Q4 2024, GAAP total revenue was $302.2 million, a 2.4% increase from Q4 2023, while non-GAAP organic revenue rose by 3.2% [7] - Full-year 2024 GAAP total revenue reached $1.2 billion, up 4.5%, with non-GAAP organic revenue increasing by 5.2% [11] - GAAP recurring revenue for 2024 was $1.1 billion, representing 98% of total revenue, with a 5.4% increase year-over-year [11] - The company reported a GAAP net loss of $330.8 million for 2024, primarily due to impairment and disposition charges related to EVERFI [7][11] Cash Flow and Stock Repurchase - GAAP net cash provided by operating activities was $73.6 million for Q4 2024, an increase of $76.9 million compared to the previous year [7] - Non-GAAP free cash flow for 2024 was $228.8 million, up $93.3 million from 2023 [11] - The company repurchased 10% of its outstanding stock in 2024 and plans to buy back an additional 3% to 5% in 2025 [4][12] Future Guidance - For 2025, Blackbaud expects GAAP revenue between $1.115 billion and $1.125 billion, with organic revenue growth projected at 4.5% to 5.4% [11] - Non-GAAP adjusted EBITDA margin is anticipated to be between 34.9% and 35.9% for 2025 [11] Company Highlights - Blackbaud has divested from EVERFI and resolved most of its outstanding security litigation, allowing it to focus on enhancing customer solutions [4] - The company emphasizes its commitment to social impact and operational efficiency as key drivers for future growth [2][4]