Core Insights - Blackbaud released its 2024 Impact Report, highlighting advancements in environmental, social, and governance (ESG) priorities over the past year [1][2] People & Culture - The company emphasizes employee engagement, development, well-being, and inclusion, with over 70% of employees volunteering in 2024 compared to a global median of 23% [6] - Blackbaud provided 18,000 courses through LinkedIn Learning to enhance talent development [6] - 87% of employees feel their work is important [6] Social Impact - Blackbaud's software supports individuals and organizations in driving social change, processing over 20 million donations through its JustGiving® platform in 2024 [3][6] - The company raised, granted, or managed over $100 billion annually through its platforms [6] Environmental Sustainability - Blackbaud achieved 100% carbon neutrality for 2024 emissions and a 92% reduction in global greenhouse gas emissions since 2019 [6] - The company reduced energy consumption by 25% and water usage by 21% at its global headquarters since 2019 [6] - Blackbaud's headquarters received the U.S. EPA's ENERGY STAR® certification for superior energy performance [6] Governance & Data Responsibility - Customer trust is a top priority, with the establishment of councils focused on employee inclusion, sustainability, generative AI, and deepfake oversight [5][6] - Blackbaud's Chief Data & AI Officer was recognized as one of DataIQ's 100 Most Influential People in Data in 2024 [6] Innovation & Technology - The company unveiled six waves of innovation in 2024 aimed at empowering nonprofits, schools, and corporate social impact teams [6] - Blackbaud is migrating its technology to public cloud environments and enhancing security measures against cyber threats [10]

Company Overview - Blackbaud is a market leader in software for powering social impact, serving over 40,000 customers in 100+ countries[13, 15] - The company facilitates over $100 billion in donations, grants, and investments through its platforms annually and has approximately 2,600 employees[15] - Blackbaud's annual recurring revenue is $11 billion[15] Market Opportunity and Financial Performance - Blackbaud operates in a large and underpenetrated total addressable market (TAM) exceeding $10 billion across various segments[30] - The company has demonstrated improved financial performance with organic revenue growth increasing from 12% in 2020 to 52% in 2024[32] - Non-GAAP gross margin has risen from 590% in 2020 to 615% in 2024[32] - The Rule of 40, defined as non-GAAP organic revenue growth plus non-GAAP adjusted EBITDA margin, improved from 277% in 2020 to 337% in 2024[6, 32] Q1 2025 Performance and 2025 Guidance - Q1 2025 organic revenue growth was 58%[60] - The Rule of 40 for Q1 2025 was 401% as reported and 402% on a constant currency basis[63] - The company projects total revenue between $1115 million and $1125 million for 2025, implying organic growth at constant currency of 45% to 54%[68] - Adjusted EBITDA margin is expected to be between 349% and 359% for 2025, a 170 bps improvement over FY24[68] - Adjusted free cash flow is projected to be between $185 million and $195 million for 2025[68]