Blackbaud(US:BLKB)2024-05-01 13:25Financial Performance & Outlook - Blackbaud reported Q1 2024 GAAP revenue of $27925 million, a 67% increase year-over-year[144] - The company's Q1 2024 non-GAAP organic revenue grew by 69%[144] - Blackbaud projects a 74% organic revenue growth rate for 2024, reaching $1179 million at the midpoint of guidance[90, 101] - The company anticipates a non-GAAP adjusted EBITDA margin of 330% for 2024[89] Strategic Initiatives - Blackbaud is executing a five-point operating plan aimed at driving high single-digit revenue growth and mid-30's EBITDA margin[34] - A modernized approach to renewal pricing, launched in March 2023, is expected to contribute significantly to revenue growth[90, 93] - The company intends to repurchase 7% to 10% of outstanding stock in 2024 under a $500 million authorization[45, 136, 140] Market Position & Revenue Streams - Blackbaud identifies as a clear market leader in providing software solutions for social impact, serving over 40000 customers[34, 46] - Transactional recurring revenue streams are broken down as Donation Processing (55%), Consumer Giving (20%), Tuition Processing (20%), and Event-Based Usage (5%)[15] - The company's recurring revenue represented 97% of total revenue in 2023[64]