For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Blackbaud (BLKB - Free Report) Headquartered in Charleston, SC, Blackbaud Inc. is a leading cloud software company working for social causes. The company combines technology and expertise to help organizations achieve their missions. It offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, marketing, advocacy, customer relationship management (“CRM”), corporate social responsibility ("CSR"), peer-to-peer fundraising, financial management, payment processing and analytics. Blackbaud’s SKY platform, the company’s modern cloud platform, continues to power innovation. The company also provides a toolset for clients, partners/developers to extend the Blackbaud SKY ecosystem.
BLKB is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 8.95; value investors should take notice.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.07 to $5.26 per share. BLKB boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BLKB should be on investors' short list.
It has been about a month since the last earnings report for Blackbaud (BLKB - Free Report) . Shares have added about 21.2% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Blackbaud due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.
BLKB Q2 Earnings Beat on Gross Margin Gain, Revenues Miss
Blackbaud reported non-GAAP earnings for the second quarter of 2026 of $1.33 per share, up 9.0% year over year. The figure beat the Zacks Consensus Estimate of $1.32 by 0.76%, aided by a higher non-GAAP gross margin and a lower diluted share count.
Revenues of $290.6 million rose 3.0% but missed the consensus mark of $292 million by 0.54%. Contractual and transactional recurring revenues increased, while one-time services declined. Recurring revenues grew 3.3% to $285.3 million and represented 98.2% of total revenues.
BLKB's Recurring Streams Drive Growth
Contractual recurring revenues increased $6.2 million to $186.4 million. Pricing initiatives and demand for cloud solutions supported the increase. Transactional recurring revenues advanced $2.8 million to $98.9 million, helped by higher volumes for Blackbaud Integrated Payments and Blackbaud Tuition Management.
One-time services and other revenues fell to $5.3 million from $5.8 million. Geographically, U.S. revenues reached $234.0 million, while revenues from the United Kingdom and other countries were $37.0 million and $19.6 million, respectively.
Blackbaud's Gross Margin Expands
GAAP cost of revenues declined 1.1% to $112.4 million. The GAAP gross margin expanded 160 basis points to 61.3%, reflecting higher revenues, lower contractor costs and reduced amortization of acquisition-related intangibles, partly offset by increased hosting and data-center costs.
The non-GAAP gross margin improved 70 basis points to 64.2%. However, non-GAAP operating income slipped to $94.6 million from $95.0 million, while the related margin contracted 110 basis points to 32.6% as spending on marketing, research and internal software increased.
BLKB's AI Pipeline Deepens
The fundraising Development Agent reached general availability ahead of schedule. Blackbaud also announced four additional Agents for Good offerings covering data health, admissions, digital marketing and accounts payable. The company said these products are not expected to make a meaningful revenue contribution in 2026.
More than half of Raiser’s Edge NXT customers use machine-learning-enabled donor prospecting, generating tens of billions of predictions annually. Management also cited competitive wins and returning customers as evidence that product innovation is supporting bookings and win rates.
Blackbaud's Cash Flow Backs Buybacks
Second-quarter operating cash flow increased $24.1 million to $91.1 million. Non-GAAP free cash flow rose $23.8 million to $75.3 million, with the free cash flow margin improving 760 basis points to 25.9%.
During the first half, BLKB repurchased 2.4 million shares for $110.1 million. Including net share settlement of employee awards, repurchase activity represented 6.2% of the shares outstanding on Dec. 31, 2025. Weighted average diluted shares fell 7.0% year over year to 44.9 million.
BLKB Reaffirms 2026 Outlook
Blackbaud reaffirmed 2026 revenue guidance of $1.173-$1.179 billion, adjusted EBITDA of $430-$438 million, non-GAAP earnings of $5.15-$5.25 per share and free cash flow of $280-$290 million. Management expects results in the upper half of all four ranges, with earnings and free cash flow at or above the high end.
Performance is expected to be weighted toward the second half, particularly the fourth quarter. A new platform fee should contribute to that weighting. The roughly 40% larger contractual renewal cohort is expected to reduce 2026 revenue growth by 0.5-0.75 percentage points.
Blackbaud's Contract Base Adds Visibility
Gross dollar retention was approximately 91% for the 12 months ended June 30. Roughly 90% of contractual recurring revenues are tied to contracts of three years or longer, while 25% are associated with terms of at least four years.
Deferred revenues increased 9.3% from year-end to $406.4 million. Remaining performance obligations totaled about $1.6 billion, with approximately 45% expected to be recognized over the next 12 months. Blackbaud ended the quarter with $34.4 million in cash, $1.15 billion in debt and a net leverage ratio of 2.58.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a flat trend in fresh estimates.
VGM ScoresAt this time, Blackbaud has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook Blackbaud has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerBlackbaud is part of the Zacks Computer - Software industry. Over the past month, Commvault Systems (CVLT - Free Report) , a stock from the same industry, has gained 20.6%. The company reported its results for the quarter ended June 2026 more than a month ago.
Commvault reported revenues of $314.13 million in the last reported quarter, representing a year-over-year change of +11.4%. EPS of $1.42 for the same period compares with $1.01 a year ago.
For the current quarter, Commvault is expected to post earnings of $1.25 per share, indicating a change of +37.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.5% over the last 30 days.
Commvault has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Blackbaud (BLKB - Free Report) Headquartered in Charleston, SC, Blackbaud Inc. is a leading cloud software company working for social causes. The company combines technology and expertise to help organizations achieve their missions. It offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, marketing, advocacy, customer relationship management (“CRM”), corporate social responsibility ("CSR"), peer-to-peer fundraising, financial management, payment processing and analytics. Blackbaud’s SKY platform, the company’s modern cloud platform, continues to power innovation. The company also provides a toolset for clients, partners/developers to extend the Blackbaud SKY ecosystem.
BLKB is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 8.83; value investors should take notice.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.07 to $5.26 per share. BLKB also boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BLKB should be on investors' short list.
Celebrating the Social Impact Organizations and Individuals Using Technology, Innovation, and Collaboration to Drive Greater Impact
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced the winners of the 2026 Blackbaud Impact Awards, highlighting organizations around the world embracing innovation, breaking down barriers, and using technology to create measurable, meaningful change.
Blackbaud serves organizations across the social impact ecosystem, including nonprofits, healthcare organizations, educational institutions, foundations, and corporate social impact teams. The Blackbaud Impact Awards celebrate customers that are leveraging Blackbaud technology to advance their missions, strengthen communities, and achieve extraordinary results.
"The recipients of this year's Blackbaud Impact Awards demonstrate what's possible when purpose, innovation and determination come together to drive meaningful outcomes," said Todd Lant, chief customer officer, Blackbaud. "From advancing fundraising and strengthening constituent engagement to improving operations and embracing new technologies, these organizations and leaders are finding powerful ways to amplify their impact, which is creating meaningful change in communities around the world. We're inspired by their achievements, honored to support their work, and look forward to celebrating them live at bbcon 2026."
The Blackbaud Impact Awards recognize winners across seven award categories, including organizations across North America, Europe and Asia Pacific. Winners will be celebrated on the mainstage at bbcon 2026 in Columbus, London, and Sydney.
The 2026 Blackbaud Impact Awards Winners
THE SILO BUSTER AWARD
Recognizing organizations that have broken down barriers, increased collaboration, and connected teams, data, or processes to achieve greater impact.
Winners:
North America: Starfish Family Services
Europe: Wesco International
Asia Pacific: Adelaide University
Finalists include East Coast Zoological Foundation (US), Applied Materials (US), and NSU University School (US).
THE CHANGEMAKER AWARD
Recognizing organizations that have embraced new technologies, innovative strategies, or transformative approaches to overcome challenges and drive meaningful results.
Winners:
North America: Le Phare, Enfants et Familles
Europe: St. Raphael's Hospice
Asia Pacific: Vision Australia
Finalists include Local Office on Aging, Inc. (US) And Equality Now (US).
THE DATA STRATEGIST AWARD
Recognizing organizations that use data strategically to inform decisions, improve outcomes, and maximize mission impact.
Winners:
North America: A Kid Again
Europe: Cash for Kids UK
Finalists include Detroit Catholic High School (US), Diocese of Toledo (US), and Skidmore College (US).
THE FUELING GREATNESS AWARD
Recognizing organizations that have achieved exceptional results by reaching or surpassing ambitious goals in support of their mission. Finalists for the Fueling Greatness Award were:
Winner:
North America: Mary Immaculate Catholic Parish & School
Finalists include Alzheimer Society of Ontario (Canada), Paws for Patrick (US), and Richard Bland College Foundation (US).
THE FUTURIST AWARD
Recognizing organizations that are preparing for what's next by embracing innovation, exploring emerging technologies, and building for the future.
Winners:
North America: Boston University
Europe: Durham University
Asia Pacific: Australian National University
Finalists include ServiceNow (US), University of Manitoba (Canada), and University of Nebraska Foundation (US).
THE OUTSTANDING LEADERSHIP AWARD
Recognizing leaders whose vision, dedication, and commitment have driven measurable impact within their organizations and communities.
Winner:
North America: Michelle Edgerton, Executive Vice President and Chief Advancement Officer, YMCA of the North
Finalists include Leah Markham, Executive Director, Community Relations, Mizuho Americas (US); Anne Posey, CEO, Tykes and Teens, Inc. (US); Jennifer Sniderman, Vice President, Corporate Communications, Wesco International (US); and Sherrie C. Snipes, CEO, Charleston Promise Neighborhood (US).
THE RISING STAR AWARD
Recognizing ambitious individuals at manager-level or below (non-executive or director level) who demonstrate exceptional potential in their field. Finalists for the Rising Star Award were:
Winners:
North America: Leah Cooper, Program Manager, MillerKnoll Foundation
Europe: Lauren Gooley, Head of CRM Implementation, Imperial College London
Asia Pacific: Sam Ovais, Fundraising CRM Manager, Vision Australia
Finalists include Taha Bhatti, Data Analyst and BI Developer, Skidmore College (US); Jenni Cornella, Donor Data Specialist, Habitat for Humanity of Metro Denver (US); Hayley Kenward, Individual Giving Manager, St. Wilfrid's Hospice (UK); Lynn Kenyon, Database & Insights Manager, Neurological Foundation of New Zealand (New Zealand); and James Macgraw, Database Assistant, St. Raphael's Hospice (UK).
Learn more about each winner's achievements and see the full list of finalists at www.blackbaud.com/impact-awards.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
New Capabilities Leverage Blackbaud Integrated Payments and the Blackbaud Verified Network to Help Nonprofits Access Critical Funding in Minutes
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced the expanded availability of Expedited Giving and Expedited Giving+ within its YourCause® from Blackbaud® suite of corporate social responsibility (CSR) and employee engagement solutions. Expedited Giving delivers corporate and employee donations to nonprofits 90% faster than the industry average, while Expedited Giving+ is the industry's fastest disbursement of corporate and employee giving, enabling direct-to-nonprofit donations in near real time.
These innovations reflect Blackbaud's continued focus on helping the social impact sector operate at the speed of need, ensuring nonprofits can access critical funding faster amid ongoing economic pressure and shifting donor dynamics. Recent data from the Blackbaud Institute suggests that while overall charitable giving remains resilient, many organizations, especially smaller nonprofits, are facing increased funding challenges.
"Speed matters when it comes to funding impact," said Dale Strange, president, Corporate Impact, Blackbaud. "By accelerating how donations move from companies and their employees to nonprofits, we're helping ensure that generosity translates into action exactly when it's needed most. At the same time, this innovation helps companies streamline administration, strengthen employee engagement and demonstrate the timely impact of their social responsibility efforts."
Blackbaud is uniquely positioned to support both ends of this social impact ecosystem, connecting corporate impact and social impact in ways that no other provider can, supporting the company's vision to unleash resources at the speed of need. As both a creator and consumer of cutting-edge AI tools, Blackbaud is leveraging AI in product development to increase the pace of innovation, delivering these meaningful capabilities to customers faster than ever to accelerate social impact outcomes.
Two Powerful Capabilities to Accelerate Impact
Blackbaud's innovation introduces two distinct, but complementary methods to modernize the corporate giving experience. By connecting the backend systems that power CSR programs, nonprofit fundraising, and donation disbursement, Blackbaud is able to dramatically increase the speed and ease with which funds are transferred from corporate employees to nonprofits.
EXPEDITED GIVING
Expedited Giving accelerates donation delivery for nonprofits connected through the Blackbaud Verified Network, enabling faster disbursement of eligible funds for US organizations registered for ACH payments. This speeds up traditional corporate and employee donation disbursements by 90% compared to industry averages, which range from 30-90+ days. It also reduces manual processing and administrative delays for nonprofits. Currently, more than 100,000 nonprofits are connected through the network and can receive funds via ACH digital disbursement.
EXPEDITED GIVING+
Building on this foundation, Expedited Giving+ is now dramatically changing the disbursement landscape, providing exponential speed through a direct connection to Blackbaud Integrated Payments, the company's AI-powered payment processing solution for nonprofits.
This accelerates and simplifies the processing of corporate employee donations by:
Enabling delivery of employee digital donations in as little as 10 minutes—the industry's fastest option, disbursing funds in minutes versus days or even months Providing a seamless, real-time payment experience for participating nonprofit organizations Creating a connected experience for Blackbaud nonprofit customers by delivering corporate employee donations originated in YourCause directly into their existing Blackbaud Integrated Payments solution Enhancing transparency between the employee donor and the nonprofit as the tax receipt comes directly from the nonprofit and the nonprofit is reflected on the employee's bank statement Expedited Giving and Expedited Giving+ are already helping move funds faster across the social impact ecosystem, with strong momentum from pilot participation and early customer adoption.
Delivering Impact at Scale
Powered by the Blackbaud Verified Network, which connects corporations and nonprofits through a shared infrastructure, Expedited Giving simplifies data exchange and reduces administrative burden across the ecosystem.
With more than ten million employees using YourCause from Blackbaud, these innovations bring unprecedented scale to fast, efficient corporate philanthropy.
Expedited Giving and Expedited Giving+ are part of Blackbaud's continued investment in platform innovation—anchored in connected data, intelligent infrastructure, and purpose-built payments—to help organizations maximize their impact. By reducing friction and accelerating access to funds, Blackbaud is helping nonprofits navigate a more complex funding environment while empowering companies and their employees to give with greater immediacy and confidence.
Learn More
Nonprofits interested in taking advantage of these accelerated donation disbursement features can claim their free charity profile on the Blackbaud Verified Network and enable ACH transactions. Blackbaud nonprofit customers using Blackbaud Integrated Payments can additionally enable Expedited Giving+ after setting up a Blackbaud Verified Network profile.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Blackbaud (BLKB - Free Report) Headquartered in Charleston, SC, Blackbaud Inc. is a leading cloud software company working for social causes. The company combines technology and expertise to help organizations achieve their missions. It offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, marketing, advocacy, customer relationship management (“CRM”), corporate social responsibility ("CSR"), peer-to-peer fundraising, financial management, payment processing and analytics. Blackbaud’s SKY platform, the company’s modern cloud platform, continues to power innovation. The company also provides a toolset for clients, partners/developers to extend the Blackbaud SKY ecosystem.
BLKB is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Computer and Technology stock. BLKB has a Momentum Style Score of B, and shares are up 55% over the past four weeks.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.07 to $5.26 per share. BLKB boasts an average earnings surprise of +5%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, BLKB should be on investors' short list.
Ability to surface Blackbaud data and insights securely in the AI tools customers use every day supports faster decision-making and more effective engagement
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced a new Microsoft 365 Copilot-enabled agent for Blackbaud Raiser's Edge NXT® that allows customers to surface their data and insights in Microsoft 365 applications including Copilot Chat, Outlook, Teams, Word, and Excel. The new experience enables fundraising professionals to access trusted, real-time insights from their Raiser's Edge NXT data using natural-language prompts—without leaving the tools where work already happens.
"Our goal is to remove friction from our customers' workflows so they can focus on driving impact, not managing technology," said Mike Gianoni, president, CEO, and vice chairman of the board of directors of Blackbaud. "Since many of our customers already use Microsoft 365, this integration meets them where they work and gives them more flexibility in how they access and benefit from Blackbaud's solutions."
With the Copilot integration, customers can choose to access insights and information from Raiser's Edge NXT in Microsoft 365 to support faster decision-making and more effective engagement. With this new experience, users can:
Ask questions such as "Summarize this donor's giving history" or "Identify top engagement opportunities" in Copilot, Teams, Outlook, Word and more Access real-time, contextual insights grounded in their Raiser's Edge NXT data without switching tools Take action on fundraising intelligence directly within Microsoft 365 tools Reduce time spent navigating systems, and accelerate decision-making Raiser's Edge NXT is recognized as Microsoft Nonprofit AI Certified Software, a reflection of its position as a trusted, industry-leading platform for fundraising and engagement. The Copilot-enabled agent builds on this foundation, extending the power of Blackbaud's AI into the Microsoft ecosystem while maintaining the data integrity, governance, and security that nonprofit organizations rely on.
"As nonprofits adopt AI, security and usability are paramount for maintaining trust," said Justin Spelhaug, President, Microsoft Elevate. "This integration brings responsible, purpose-built AI into familiar Microsoft 365 workflows, helping organizations make better decisions with confidence while keeping their data protected."
Recent data from the Blackbaud Institute shows that while most social impact organizations are beginning to adopt AI, the resulting benefits are uneven. Blackbaud is focused on making sure the sector can benefit fully from the massive potential of this transformational technology—through educational resources, like the free AI for Social Impact Certification Course, as well as platform solutions like Agents for Good™ and integrations with existing AI tools like Copilot.
The Copilot-enabled agent for Raiser's Edge NXT reflects Blackbaud's continued execution on its AI platform strategy: bringing intelligence closer to where customers work, while keeping it grounded in deep sector expertise and responsible design. As organizations navigate rapid AI adoption, Blackbaud remains focused on delivering practical, workflow-native innovation that helps customers move faster, work smarter, and drive greater impact with confidence.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) EVP Kevin Gregoire sold 22,000 shares of Blackbaud stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.50, for a total transaction of $1,001,000.00. Following the completion of the sale, the executive vice president directly owned 113,194 shares of the company’s stock, valued at approximately $5,150,327. The trade was a 16.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Blackbaud Stock Performance Shares of NASDAQ:BLKB opened at $45.87 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 16.82. The stock has a market capitalization of $2.08 billion, a PE ratio of 14.33, a P/E/G ratio of 1.57 and a beta of 0.97. Blackbaud, Inc. has a 1 year low of $25.58 and a 1 year high of $70.71. The firm has a fifty day moving average price of $31.94 and a 200 day moving average price of $38.52.
Blackbaud (NASDAQ:BLKB – Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.10. The company had revenue of $290.60 million for the quarter, compared to analyst estimates of $292.23 million. Blackbaud had a return on equity of 197.49% and a net margin of 13.12%.The business’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. Analysts expect that Blackbaud, Inc. will post 3.71 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth Several brokerages have commented on BLKB. Robert W. Baird set a $54.00 price target on Blackbaud in a report on Thursday, July 30th. Stifel Nicolaus reduced their price objective on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded shares of Blackbaud from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $55.00 target price on shares of Blackbaud in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.50.
Get Our Latest Stock Report on Blackbaud
Institutional Inflows and Outflows Several institutional investors have recently added to or reduced their stakes in BLKB. BlackRock Inc. bought a new stake in shares of Blackbaud in the second quarter valued at approximately $177,153,000. Northwestern Mutual Wealth Management Co. increased its position in Blackbaud by 143,409.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,207,179 shares of the technology company’s stock worth $139,759,000 after acquiring an additional 2,205,641 shares during the period. Janus Henderson Group PLC raised its stake in Blackbaud by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,555,833 shares of the technology company’s stock valued at $60,071,000 after purchasing an additional 58,806 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Blackbaud by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 975,085 shares of the technology company’s stock valued at $61,743,000 after purchasing an additional 5,709 shares during the period. Finally, Van Berkom & Associates Inc. boosted its holdings in Blackbaud by 16.7% in the 4th quarter. Van Berkom & Associates Inc. now owns 779,935 shares of the technology company’s stock valued at $49,385,000 after purchasing an additional 111,388 shares during the period. 94.21% of the stock is owned by institutional investors.
About Blackbaud (Get Free Report)
Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One company value investors might notice is Blackbaud (BLKB - Free Report) . BLKB is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 14.41. This compares to its industry's average Forward P/E of 22.92. Over the past year, BLKB's Forward P/E has been as high as 19.64 and as low as 13.39, with a median of 15.04.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. BLKB has a P/S ratio of 1.81. This compares to its industry's average P/S of 4.19.
Value investors will likely look at more than just these metrics, but the above data helps show that Blackbaud is likely undervalued currently. And when considering the strength of its earnings outlook, BLKB sticks out as one of the market's strongest value stocks.
On July 31, 2026, Blackbaud Inc (BLKB) shares rose 6.8% to $42.88, showing a strong price performance amidst a volatile year. The stock has experienced a 52-wee
Key Takeaways BLKB beat second-quarter non-GAAP EPS expectations, but revenue growth stayed modest and missed estimates.Strong free cash flow is funding buybacks expected to retire 6%-10% of shares outstanding in 2026.Retention pressure, a larger renewal cohort and $1.152 billion in debt limit financial flexibility. Blackbaud, Inc. (BLKB - Free Report) is testing investor patience after a second quarter that delivered better-than-expected non-GAAP earnings but missed revenue expectations.
The stock screens as inexpensive, and cash flow is funding aggressive repurchases. The counterweight is clear. Revenue growth remains modest, retention is under pressure and debt leaves less room for execution missteps.
BLKB's Low Multiple Creates a Valuation CaseBLKB trades at 7.26X forward 12-month earnings, well below its five-year median of 31.03X and the 19.21X multiple for its Zacks sub-industry. That discount gives valuation-focused investors a reason to look again.
The $42 price target is based on 8.21X forward earnings, only a limited expansion from the current multiple. That restraint suggests the market is already pricing in concerns around slow growth, retention risk and leverage rather than overlooking them.
Blackbaud's Cash Flow Supports Share BuybacksFree cash flow is the strongest part of the investment case. Second-quarter non-GAAP free cash flow rose $23.8 million to $75.3 million, while first-half free cash flow reached $112.3 million.
Management expects 2026 free cash flow near the high end of its $280-$290 million range. That cash generation supported $110.1 million of first-half repurchases, and the company expects 2026 buybacks to retire 6% to 10% of shares outstanding at year-end 2025.
BLKB's Revenue and Retention Risks Limit UpsideThe earnings beat was not matched by the top line. Non-GAAP EPS rose 9% to $1.33, ahead of expectations, but revenues increased only 3% to $290.6 million and missed the Zacks Consensus Estimate of $292 million.
Image Source: Zacks Investment Research
A larger renewal cycle adds pressure. Blackbaud’s 2026 renewal cohort is roughly 40% larger than last year, which is expected to reduce total revenue growth by 0.5 to 0.75 percentage points, while retention is not expected to return to 91%-92% until the end of 2027.
Salesforce, Inc. (CRM - Free Report) remains relevant because its Nonprofit Cloud brings a broad customer relationship management platform to nonprofit use cases. Oracle Corporation (ORCL - Free Report) , with cloud applications and platform services, also frames the competitive backdrop for enterprise software budgets.
Blackbaud's Debt Narrows Financial FlexibilityBlackbaud ended the quarter with total debt of $1.152 billion and unrestricted cash of $34.4 million. Net leverage was 2.58X, which leaves the company short of its longer-term goal of debt to adjusted EBITDA below 2.0X.
Financing costs are also moving higher. The weighted average effective interest rate rose to 5.60% from 5.29% at year-end 2025, and 2026 interest expense is expected to be $62 million to $66 million.
That matters because the same cash pool must fund buybacks, AI product development, targeted acquisitions and debt reduction. The repurchase plan is attractive, but leverage limits how aggressively Blackbaud can pursue every priority at once.
BLKB's Hold Signal Matches a Mixed SetupThe bottom line is that BLKB offers a low valuation and strong free cash flow, but the stock still needs clearer proof of faster revenue growth, steadier retention and declining leverage. The earnings beat helps, but the revenue miss keeps the setup from being clean.
BLKB currently carries a Zacks Rank #3 (Hold). That rank is consistent with a balanced near-term view, where low valuation and capital returns are offset by execution and balance-sheet risks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The stock has a Value Score of A, Growth Score of A, Momentum Score of D and VGM Score of A. The A grades support the valuation and earnings profile, while the Momentum Score of D argues for caution on timing. Together, the rank and Style Scores point to a stock worth monitoring, not one with a risk-free value case.
Key Takeaways Blackbaud is embedding supervised AI agents into fundraising, education and finance workflows.The Development Agent beat industry benchmarks while helping customers reach more donors without more staff.BLKB expects no meaningful 2026 revenue from its five AI products as higher spending pressures margins. Blackbaud, Inc. (BLKB - Free Report) is pushing its software model beyond conventional workflow automation. Its next step is agentic AI, with supervised digital agents embedded in fundraising, education and finance processes used by social impact organizations.
The investor question is whether those agents can deepen customer reliance and create more cross-sell opportunities. Near-term revenue benefits remain limited, but the strategy could make Blackbaud’s platform more central to daily operations.
Blackbaud's Agents Move AI Into Daily WorkflowsBlackbaud’s Development Agent is designed to identify dormant donors outside a major gift officer portfolio. It then builds personalized, brand-aligned outreach sequences and executes them under human supervision.
Management said production results exceeded industry benchmarks for reply rates, open rates and average attributable gift size. The bigger operational point is that customers can reach more donors without adding staff, a useful outcome for organizations with limited resources.
BLKB's New Agents Broaden the Addressable Use CasesBlackbaud has announced four additional Agents for Good. The planned Data Health Agent will address duplicate records, contact accuracy and life-change updates inside fundraising systems.
The Admissions Agent targets independent K-12 schools, while the Digital Marketing Agent is intended to support campaign planning, audience selection, content generation and channel optimization. The Accounts Payable Agent extends the strategy into Financial Edge NXT, where it can help automate invoice intake and payments.
Blackbaud's Data Base Strengthens AI AdoptionMore than half of Raiser’s Edge NXT customers already use machine-learning-enabled donor prospecting. That usage generates tens of billions of predictions annually within Blackbaud’s systems.
This installed base matters because AI adoption is easier when recommendations appear inside a system of record customers already trust. Blackbaud’s sector data, embedded workflows and permissioned information can improve recommendations over time while reducing the friction created by separate tools.
Salesforce, Inc. (CRM - Free Report) is relevant because its Nonprofit Cloud also targets fundraising, stakeholder relationships and impact measurement. Oracle Corporation (ORCL - Free Report) , through NetSuite, competes for nonprofit finance and operational workflows, making Blackbaud’s embedded-agent approach important for differentiation.
BLKB's AI Investment Delays Near-Term PayoffThe platform opportunity comes with cost pressure. In the second quarter of 2026, Blackbaud increased spending on marketing, research, internal software and AI while continuing to support broader product modernization.
Non-GAAP operating margin declined 110 basis points to 32.6%. Management also does not expect the five AI products launched or announced in 2026 to make a meaningful revenue contribution this year, keeping the AI payoff more long-term than immediate.
Image Source: Zacks Investment Research
Blackbaud's Neutral Rank Tempers the AI StoryThe bottom line is that Blackbaud’s agentic AI push is becoming a clearer platform strategy, not just a product feature. The agents could support adoption, cross-sales and customer productivity if early results scale across the installed base.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s recurring revenue visibility and AI optionality are offset by modest revenue growth, renewal pressure and higher investment spending.
Blackbaud also has a Value Score of A, Growth Score of A, Momentum Score of D and VGM Score of A. The A grades suggest favorable value, growth and combined style characteristics, while the Momentum Score of D signals weaker timing on that factor. For now, investors may need more evidence that adoption and cross-sales can translate into sustained revenue acceleration and margin recovery.
Key Takeaways Blackbaud's AI agents target deeper customer penetration across fundraising and operational workflows.About 90% of contractual recurring revenue is tied to agreements lasting at least three years.Payments rose to $98.9 million, while five AI products are not expected to materially lift 2026 revenue. Blackbaud, Inc. (BLKB - Free Report) combines subscription software, payments and purpose-built workflows for nonprofit, education and social impact customers. That gives the company a large recurring base before its newer artificial intelligence products scale.
The investor question is whether multi-year contracts, embedded payments and cross-selling can move Blackbaud beyond modest near-term revenue growth as AI agents broaden the platform.
Blackbaud's Recurring Base Anchors VisibilityRecurring revenue increased 3.3% to $285.3 million in the second quarter and represented 98.2% of total revenue. That mix gives Blackbaud more visibility than a model that depends heavily on implementation work or other services.
Contractual recurring revenue comes from subscription and maintenance arrangements. Transactional recurring revenue is tied to activity such as payment processing and tuition management, so it can fluctuate more from period to period.
BLKB's Contract Terms Extend Revenue DurabilityBlackbaud’s contract base also supports revenue durability. Approximately 90% of contractual recurring revenue is tied to agreements lasting at least three years, while 25% is linked to terms of four years or longer.
That structure is reflected in deferred revenue of $406.4 million and roughly $1.6 billion of remaining performance obligations. These figures do not remove renewal risk, but they show a meaningful amount of contracted business already lined up for future periods.
Blackbaud's Payments Add Transactional GrowthTransactional recurring revenue increased $2.8 million to $98.9 million in the second quarter. Higher Blackbaud Integrated Payments and Tuition Management volumes added a growth channel alongside the company’s subscription base.
Payments also deepen Blackbaud’s position inside customer workflows because donation, tuition and related transactions connect directly to its software systems. Still, transaction volumes can vary between periods, making this revenue stream less predictable than contractual recurring revenue.
BLKB's AI Pipeline Expands Cross-Sell PotentialBlackbaud’s Development Agent has moved into production, adding supervised donor outreach to its product set. Early engagement results give management a basis to expand the use case across fundraising workflows.
The roadmap includes four additional agents focused on data health, admissions, digital marketing and accounts payable. Management does not expect the five AI products to contribute materially to 2026 revenue, so the near-term case rests more on adoption signals and cross-sell potential than on immediate financial impact.
Salesforce, Inc. (CRM - Free Report) provides a useful comparison because nonprofit organizations often evaluate broad customer relationship management platforms alongside purpose-built fundraising software. Paycom Software, Inc. (PAYC - Free Report) is another relevant software name for investors watching how automated workflows can support recurring application revenue.
BLKB's Neutral Signals Frame the OutlookThe bottom line is that Blackbaud has the ingredients for steadier growth, but the timing remains measured. Recurring revenue visibility, long-term contracts and payment volume growth support the model, while modest revenue expansion and renewal pressure keep the outlook balanced.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BLKB has a VGM Score of A. The VGM Score combines value, growth and momentum characteristics, and an A is favorable within the Zacks Style Scores framework.
For investors, the AI pipeline is best viewed as an option on deeper customer penetration. Blackbaud still needs to convert product activity into renewal strength, cross-selling and sustained revenue acceleration before the story moves beyond visibility to faster growth.
Blackbaud (BLKB +17.39%)) stock is seeing huge gains on Wednesday following the company's recent quarterly report. The software specialist's share price was up 20.5% as of 2:25 p.m. ET, even though the S&P 500 had fallen 0.5% and the Nasdaq Composite was down 0.3%.
Blackbaud released its second-quarter results before the market opened this morning, reporting stronger-than-expected earnings even though sales came in below expectations. While the company reiterated its previously issued guidance, commentary from management has investors betting that results for the year could wind up better than previously anticipated.
Image source: Getty Images.
Blackbaud stock surges despite Q2 sales miss Blackbaud posted non-GAAP (adjusted) earnings of $1.33 on revenue of $290.6 million in the second quarter. While adjusted earnings per share topped the average analyst estimate by $0.05, sales for the period came in $1.76 million below the average target. With sales still rising 3.3% year over year and adjusted earnings improving by $0.11 per share compared to last year's quarter, investors put more weight on the profit improvement than the revenue shortfall. Free cash flow rising 46% year over year to roughly $75 million certainly didn't hurt either.
Today's Change
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Investors see promise in Blackbaud's guidance With its Q2 report, Blackbaud reiterated full-year guidance for adjusted earnings per share between $5.15 and $5.25. While the midpoint of that guidance range is just slightly ahead of the previous average target for per-share earnings of $5.19, investors are betting that profits will come in at the higher end of that guidance range.
On the company's earnings call, management actually said directly that it now expects to record full-year performance that is in the upper half of its guidance for earnings per share, revenue, and free cash flow. Along with some encouraging adoption indicators for the company's artificial intelligence software, it's not surprising that investors are feeling significantly more bullish about the stock.
Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Blackbaud, Inc. (BLKB) Q2 2026 Earnings Call July 29, 2026 8:00 AM EDT
Company Participants
Tom Barth - Head of Investor Relations
Michael Gianoni - President, CEO & Non-Independent Vice Chairman of the Board
Chad Anderson - Executive VP & CFO
Conference Call Participants
Brian Peterson - Raymond James & Associates, Inc., Research Division
Robert Oliver - Robert W. Baird & Co. Incorporated, Research Division
J. Lane - Stifel, Nicolaus & Company, Incorporated, Research Division
Peter Burkly - Evercore ISI Institutional Equities, Research Division
Presentation
Operator
Good day, and welcome to Blackbaud's Second Quarter 2026 Earnings Conference Call. Today's conference is being recorded. I'll now turn the conference over to Tom Barth, Head of Investor Relations. Please go ahead, sir.
Tom Barth
Head of Investor Relations
Good morning, everyone. Thank you for joining us on Blackbaud's Second Quarter 2026 Earnings Call. Joining me on the call today are Mike Gianoni, Blackbaud's Chief Executive Officer, President and Vice Chairman; and Chad Anderson, Blackbaud's Executive Vice President and Chief Financial Officer.
Please note that our comments today contain forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our most recent Form 10-K and other SEC filings for more information on those risks. Today's discussion will focus on non-GAAP results. Please refer to our press release and investor materials posted to our website for full details on our financial performance, including GAAP results, full year guidance and long-term aspirational goals.
We believe that a combination of GAAP and non-GAAP measures provide a more representative view of how we measure our business. Unless otherwise specified, we will refer only to non-GAAP financial measures on this call. Please note that non-GAAP financial measures should not be considered in isolation from or as a substitute for GAAP measures. We have also
Blackbaud (BLKB - Free Report) came out with quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.21 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +8.13%. A quarter ago, it was expected that this software and services provider in the nonprofit sector would post earnings of $1.08 per share when it actually produced earnings of $1.14, delivering a surprise of +5.56%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Blackbaud, which belongs to the Zacks Computer - Software industry, posted revenues of $290.6 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.12%. This compares to year-ago revenues of $281.38 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Blackbaud shares have lost about 43.3% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for Blackbaud?While Blackbaud has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Blackbaud was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.32 on $292.17 million in revenues for the coming quarter and $5.19 on $1.18 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Software is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Intuit (INTU - Free Report) , has yet to report results for the quarter ended July 2026.
This maker of TurboTax, QuickBooks and other accounting software is expected to post quarterly earnings of $3.59 per share in its upcoming report, which represents a year-over-year change of +30.6%. The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level.
Intuit's revenues are expected to be $4.27 billion, up 11.5% from the year-ago quarter.
Company Expects to Finish Fiscal Year 2026 in the Upper Half of Financial Guidance Ranges
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced financial results for its second quarter ended June 30, 2026.
"Our second quarter and first-half results came in as expected, and combined with our confidence in the second half, position us to finish in the upper half of our FY26 guidance ranges for revenue, adjusted EBITDA, non-GAAP EPS, and free cash flow, with EPS and free cash flow at the high end," said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud. "We continue to invest aggressively in AI, reflected in the accelerating pace of innovation across our Agents for Good™ solutions, which help customers advance their missions and operate more efficiently while also strengthening our own productivity and profitability."
Second Quarter 2026 Results Compared to Second Quarter 2025 Results:
GAAP total revenue was $290.6 million, up 3.0% and non-GAAP organic revenue increased 3.0%. GAAP recurring revenue was $285.3 million, up 3.3% and represented 98.2% of total revenue. Non-GAAP organic recurring revenue increased 3.3%. GAAP income from operations was $62.0 million, with GAAP operating margin of 21.3%, an increase of 100 basis points. Non-GAAP income from operations was $94.6 million, with non-GAAP operating margin of 32.6%, a decrease of 110 basis points. GAAP net income was $35.4 million, with GAAP diluted earnings per share of $0.79, up $0.24 per share. Non-GAAP net income was $59.7 million, with non-GAAP diluted earnings per share of $1.33, up $0.11 per share. Non-GAAP adjusted EBITDA was $110.3 million, up $1.2 million, with non-GAAP adjusted EBITDA margin of 38.0%, a decrease of 70 basis points. Rule of 40 score was 41.0%. GAAP net cash provided by operating activities was $91.1 million, an increase of $24.1 million, with GAAP operating cash flow margin of 31.3%, an increase of 760 basis points. Non-GAAP free cash flow was $75.3 million, an increase of $23.8 million, with non-GAAP free cash flow margin of 25.9%, an increase of 760 basis points. "We again executed well against our operating plan while investing in innovation and efficiency across the business," said Chad Anderson, executive vice president and CFO, Blackbaud. "We're building the foundation for substantial shareholder value, supported by an attractive financial model and steady momentum toward our long-term goals. We also remain aggressive in repurchasing our shares having already repurchased just over 6% this year, reducing our total shares outstanding by approximately 15% since the fourth quarter of 2023."
An explanation of all non-GAAP financial measures referenced in this press release, including the Rule of 40, is included below under the heading "Non-GAAP Financial Measures." A reconciliation of the company's non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.
Recent Company Highlights
Blackbaud announced multiple new Agents for Good™ and AI-powered product enhancements planned as part of a reimagined cloud-native, AI-first connected platform, underscoring the company's continued innovation momentum and differentiated position as the trusted AI engine for social impact. The Blackbaud Institute published research that shows that while AI adoption is accelerating across the social impact sector, the organizations seeing transformational results have higher levels of AI maturity, moving beyond fragmented experimentation to systemic, governed AI use. To support the long-term health of the sector, Blackbaud has convened the AI Coalition for Social Impact, which has launched a free certification program to equip professionals to adopt AI responsibly, confidently and effectively. At its bi-annual Product Update Briefings and annual bbdevdays Developers Conference, Blackbaud showcased continued product and platform innovation highlighting new AI-powered capabilities, expanded connected workflows, and developer tools that reinforce the company's trusted AI engine strategy and help customers build, extend, and scale purpose-built solutions for social impact. Blackbaud strengthened its leadership in education, launching an Innovation Partnership and strategic investment in Student First to help higher education institutions build a more connected campus operating model, and unveiling new AI innovation for K–12 independent schools, including an Admissions Agent in development to help schools deliver more personalized, efficient admissions experiences. The company earned recognition from the American Business Awards for AI innovation and leadership, was named to Newsweek's World's Greenest Companies list for the second consecutive year, and was honored on the TIME America's Best Companies 2026 list, underscoring continued momentum in responsible innovation, sustainability and workplace excellence. Blackbaud released its 2025 Impact Report, highlighting progress across responsible AI, sustainability and global social impact, reinforcing the company's commitment to using purpose-built technology and responsible business practices to help customers and communities drive measurable outcomes. Visit www.blackbaud.com/newsroom for more information about Blackbaud's recent highlights.
Financial Outlook
Blackbaud today reaffirmed its 2026 full year financial guidance and expects to finish in the upper half of the range across all four key metrics:
GAAP revenue of $1.173 billion to $1.179 billion Non-GAAP adjusted EBITDA of $430 million to $438 million Non-GAAP diluted earnings per share of $5.15 to $5.25 Non-GAAP free cash flow of $280 million to $290 million Included in its 2026 full year financial guidance are the following updated assumptions:
Non-GAAP annualized effective tax rate is expected to be approximately 24.5% Interest expense for the year is expected to be approximately $62 million to $66 million Diluted weighted average shares outstanding for the year are expected to be approximately 45.0 million to 46.0 million Capital expenditures for the year are expected to be approximately $60 million to $70 million, including approximately $52 million to $62 million of capitalized software development costs Blackbaud has not reconciled forward-looking full-year non-GAAP financial measures contained in this news release to their most directly comparable GAAP measures, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. Such reconciliations would require unreasonable efforts at this time to estimate and quantify with a reasonable degree of certainty various necessary GAAP components, including for example those related to compensation, acquisition transactions and integration, tax items or others that may arise during the year. These components and other factors could materially impact the amount of the future directly comparable GAAP measures, which may differ significantly from their non-GAAP counterparts.
Stock Repurchase Program
As of June 30, 2026, Blackbaud had approximately $850 million remaining under its common stock repurchase program that was expanded, replenished and reauthorized in December 2025. Based on our current plans, and stock repurchases to date, we expect total repurchases during 2026 to represent between 6% and 10.0% of our outstanding common stock as of December 31, 2025.
Conference Call Details
What:
Blackbaud's 2026 Second Quarter Conference Call
When:
July 29, 2026
Time:
8:00 a.m. (Eastern Time)
Live Call:
1-877-407-3088 (US/Canada)
Webcast:
Blackbaud's Investor Relations Webpage
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com, or follow us on X/Twitter, LinkedIn, Instagram, and Facebook.
Investor Contact
[email protected]
Media Contact
[email protected]
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the predictability of our financial condition and results of operations. These statements involve a number of risks and uncertainties. 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 based. In addition, other important factors that could cause results to differ materially include the following: management of integration of acquired companies; uncertainty regarding increased business and renewals from existing customers; a shifting revenue mix that may impact gross margin; continued success in sales growth; risks related to the development, deployment, regulation, security, market adoption and perception of artificial intelligence technologies; cybersecurity and data protection risks and related liabilities; potential litigation involving us; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. Blackbaud assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Trademarks
All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Non-GAAP Financial Measures
Blackbaud has provided in this release financial information that has not been prepared in accordance with GAAP. Blackbaud uses non-GAAP financial measures internally in analyzing its operational performance. Accordingly, Blackbaud believes these non-GAAP measures are useful to investors, as a supplement to GAAP measures, in evaluating its ongoing operational performance and trends and in comparing its financial results from period-to-period with other companies in Blackbaud's industry, many of which present similar non-GAAP financial measures to investors. However, these non-GAAP financial measures may not be completely comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation between companies.
The non-GAAP financial measures discussed above exclude the impact of certain transactions that Blackbaud believes are not directly related to its operating performance in any particular period, but are for its long-term benefit over multiple periods. Blackbaud believes these non-GAAP financial measures reflect its ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business.
While Blackbaud believes these non-GAAP measures provide useful supplemental information, non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures.
Non-GAAP free cash flow is defined as operating cash flow less capital expenditures, including costs required to be capitalized for software development, and capital expenditures for property and equipment. Blackbaud believes non-GAAP free cash flow provides a useful measure of the company's operating performance. Non-GAAP free cash flow is not intended to represent and should not be viewed as the amount of residual cash flow available for discretionary expenditures.
In addition, Blackbaud uses non-GAAP organic revenue growth, non-GAAP organic revenue growth on a constant currency basis, non-GAAP organic recurring revenue growth and non-GAAP organic recurring revenue growth on a constant currency basis, in analyzing its operating performance. Blackbaud believes that these non-GAAP measures are useful to investors, as a supplement to GAAP measures, for evaluating the periodic growth of its business on a consistent basis. Each of these measures excludes incremental acquisition-related revenue attributable to companies, if any, acquired in the current fiscal year. For companies acquired in the immediately preceding fiscal year, each of these measures reflects presentation of full-year incremental non-GAAP revenue derived from such companies as if they were combined throughout the prior period. In addition, each of these measures excludes prior period revenue associated with divested businesses, if any. The exclusion of the prior period revenue is to present the results of the divested businesses within the results of the combined company for the same period of time in both the prior and current periods. Blackbaud believes this presentation provides a more comparable representation of its current business' organic revenue growth and revenue run-rate.
Rule of 40 is defined as non-GAAP organic revenue growth plus non-GAAP adjusted EBITDA margin. Non-GAAP adjusted EBITDA is defined as GAAP net income plus interest, net; income tax provision (benefit); depreciation; amortization of intangible assets from business combinations; amortization of software development costs; stock-based compensation expense; Global Capabilities Center ("GCC") workforce transition costs; acquisition and disposition-related costs; and Security Incident-related costs.
Blackbaud, Inc.
Consolidated Balance Sheets
(Unaudited)
(dollars in thousands, except per share amounts)
June 30,
2026
December 31,
2025
Assets
Current assets:
Cash and cash equivalents
$ 34,388
$ 38,914
Restricted cash
846,620
720,061
Accounts receivable, net of allowance of $6,672 and $5,876 at June 30, 2026 and
December 31, 2025, respectively
Common stock, $0.001 par value; 180,000,000 shares authorized, 74,035,437 and
72,312,354 shares issued at June 30, 2026 and December 31, 2025, respectively;
45,513,708 and 46,705,325 shares outstanding at June 30, 2026 and December 31, 2025, respectively
74
72
Additional paid-in capital
1,438,227
1,391,641
Treasury stock, at cost; 28,521,729 and 25,607,029 shares at June 30, 2026 and December 31, 2025, respectively
(1,452,356)
(1,316,224)
Accumulated other comprehensive loss
(925)
(5,948)
Retained earnings
82,010
15,513
Total stockholders' equity
67,030
85,054
Total liabilities and stockholders' equity
$ 2,594,496
$ 2,390,682
Blackbaud, Inc.
Consolidated Statements of Comprehensive Income (Unaudited)
(dollars in thousands, except per share amounts)
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
Revenue
$ 290,597
$ 282,030
$ 571,737
$ 551,966
Cost of revenue
112,434
113,633
227,015
228,448
Gross profit
178,163
168,397
344,722
323,518
Operating expenses
Sales, marketing and customer success
46,256
44,046
93,605
88,690
Research and development
34,856
33,595
71,772
67,154
General and administrative
34,449
32,856
64,710
89,535
Amortization of intangible assets
586
566
1,174
1,100
Total operating expenses
116,147
111,063
231,261
246,479
Income from operations
62,016
57,334
113,461
77,039
Interest expense
(17,579)
(18,411)
(33,615)
(35,356)
Other income, net
1,984
1,118
4,380
3,223
Income before provision for income taxes
46,421
40,041
84,226
44,906
Income tax provision
11,063
13,575
17,729
14,117
Net income
$ 35,358
$ 26,466
$ 66,497
$ 30,789
Earnings per share
Basic
$ 0.79
$ 0.55
$ 1.47
$ 0.64
Diluted
$ 0.79
$ 0.55
$ 1.46
$ 0.63
Common shares and equivalents outstanding
Basic weighted average shares
44,759,580
47,784,062
45,158,724
48,104,780
Diluted weighted average shares
44,884,337
48,248,057
45,605,260
48,786,793
Other comprehensive income (loss)
Foreign currency translation adjustment
$ (117)
$ 7,324
$ (1,597)
$ 10,583
Unrealized gain (loss) on derivative instruments, net of tax
3,042
(5,314)
6,620
(12,006)
Total other comprehensive income (loss)
2,925
2,010
5,023
(1,423)
Comprehensive income
$ 38,283
$ 28,476
$ 71,520
$ 29,366
Blackbaud, Inc.
Consolidated Statements of Cash Flows
(Unaudited)
Six months ended
June 30,
(dollars in thousands)
2026
2025
Cash flows from operating activities
Net income
$ 66,497
$ 30,789
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
41,293
43,346
Net provision for credit losses and sales returns
3,020
2,973
Stock-based compensation expense
46,586
49,422
Deferred taxes
9,380
(653)
Amortization of deferred financing costs and discount
1,269
1,346
Other non-cash adjustments
1,313
(5,407)
Changes in operating assets and liabilities, net of acquisition and disposal of businesses:
Accounts receivable
(57,465)
(64,984)
Prepaid expenses and other assets
(11,416)
(8,955)
Trade accounts payable
6,818
(8,408)
Accrued expenses and other liabilities
530
(9,910)
Deferred revenue
34,688
38,770
Net cash provided by operating activities
142,513
68,329
Cash flows from investing activities
Purchase of property and equipment
(4,117)
(1,311)
Capitalized software development costs
(26,127)
(27,787)
Cash used in disposition of business
—
(12,235)
Other investing activities
(8,675)
—
Net cash used in investing activities
(38,919)
(41,333)
Cash flows from financing activities
Proceeds from issuance of debt
209,500
272,300
Payments on debt
(180,857)
(187,666)
Employee taxes paid for withheld shares upon equity award settlement
(25,319)
(38,655)
Change in due to customers
132,582
128,582
Change in customer funds receivable
(5,175)
(3,262)
Purchase of treasury stock, including excise tax payments
(111,637)
(103,205)
Net cash provided by financing activities
19,094
68,094
Effect of exchange rate on cash, cash equivalents and restricted cash
(655)
7,212
Net increase in cash, cash equivalents and restricted cash
122,033
102,302
Cash, cash equivalents and restricted cash, beginning of period
758,975
809,512
Cash, cash equivalents and restricted cash, end of period
$ 881,008
$ 911,814
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown above in the consolidated statements of cash flows:
(dollars in thousands)
June 30,
2026
December 31,
2025
Cash and cash equivalents
$ 34,388
$ 38,914
Restricted cash
846,620
720,061
Total cash, cash equivalents and restricted cash in the statement of cash flows
$ 881,008
$ 758,975
Blackbaud, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(dollars in thousands, except per share amounts)
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
GAAP Revenue
$ 290,597
$ 282,030
$ 571,737
$ 551,966
GAAP gross profit
$ 178,163
$ 168,397
$ 344,722
$ 323,518
GAAP gross margin
61.3 %
59.7 %
60.3 %
58.6 %
Non-GAAP adjustments:
Add: Stock-based compensation expense
2,714
3,250
5,801
5,948
Add: Amortization of intangibles from business combinations
5,404
7,020
11,671
14,072
Add: Employee severance
—
302
—
302
Add: GCC workforce transition costs(1)
267
—
542
—
Subtotal
8,385
10,572
18,014
20,322
Non-GAAP gross profit
$ 186,548
$ 178,969
$ 362,736
$ 343,840
Non-GAAP gross margin
64.2 %
63.5 %
63.4 %
62.3 %
GAAP income from operations
$ 62,016
$ 57,334
$ 113,461
$ 77,039
GAAP operating margin
21.3 %
20.3 %
19.8 %
14.0 %
Non-GAAP adjustments:
Add: Stock-based compensation expense
22,706
27,252
46,586
49,422
Add: Amortization of intangibles from business combinations
5,990
7,586
12,845
15,172
Add: Employee severance
—
2,147
—
2,147
Add: GCC workforce transition costs(1)
1,974
—
3,000
—
Add: Acquisition and disposition-related costs(2)
866
264
1,013
25,396
Add: Security Incident-related costs
—
395
—
2,575
Add: Impairment of capitalized software development costs
1,056
—
1,056
—
Subtotal
32,592
37,644
64,500
94,712
Non-GAAP income from operations
$ 94,608
$ 94,978
$ 177,961
$ 171,751
Non-GAAP operating margin
32.6 %
33.7 %
31.1 %
31.1 %
GAAP income before provision for income taxes
$ 46,421
$ 40,041
$ 84,226
$ 44,906
GAAP net income
$ 35,358
$ 26,466
$ 66,497
$ 30,789
Shares used in computing GAAP diluted earnings per share
44,884,337
48,248,057
45,605,260
48,786,793
GAAP diluted earnings per share
$ 0.79
$ 0.55
$ 1.46
$ 0.63
Non-GAAP adjustments:
Add: GAAP income tax provision
11,063
13,575
17,729
14,117
Add: Total non-GAAP adjustments affecting income from operations
32,592
37,644
64,500
94,712
Non-GAAP income before provision for income taxes
79,013
77,685
148,726
139,618
Assumed non-GAAP income tax provision(3)
19,358
19,033
36,438
34,207
Non-GAAP net income
$ 59,655
$ 58,652
$ 112,288
$ 105,411
Shares used in computing non-GAAP diluted earnings per share
44,884,337
48,248,057
45,605,260
48,786,793
Non-GAAP diluted earnings per share
$ 1.33
$ 1.22
$ 2.46
$ 2.16
(1) GCC workforce transition costs represent severance and other costs incurred in connection with the transition of certain roles to our Global Capability Center in Hyderabad, India.
(2) Includes charges of $24.3 million incurred during the six months ended June 30, 2025 related to the release from our lease for office space in Washington, DC.
(3) We use a non-GAAP effective tax rate of 24.5% when calculating non-GAAP net income and non-GAAP diluted earnings per share. We base this rate on our estimated annual GAAP income tax rate, adjusted for items excluded from GAAP income when calculating non-GAAP income and for significant nonrecurring tax adjustments. We review this non-GAAP tax rate annually to determine whether it remains appropriate for evaluating our financial performance. In conducting this review, we consider our GAAP annual effective tax rate, changes in tax legislation, non-GAAP adjustments, and shifts in the geographic mix of revenues and expenses. We also evaluate other factors that we deem significant. Because the tax treatment of non-GAAP adjustments differs from GAAP and because of our methodology for estimating the annual tax rate, the non-GAAP tax rate may differ from the GAAP tax rate and from our actual tax liabilities.
Blackbaud, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(dollars in thousands)
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
GAAP revenue
$ 290,597
$ 282,030
$ 571,737
$ 551,966
GAAP revenue growth
3.0 %
3.6 %
Less: Non-GAAP revenue from divested businesses(1)
—
—
—
—
Non-GAAP organic revenue(2)
$ 290,597
$ 282,030
$ 571,737
$ 551,966
Non-GAAP organic revenue growth
3.0 %
3.6 %
Non-GAAP organic revenue(2)
$ 290,597
$ 282,030
$ 571,737
$ 551,966
Foreign currency impact on non-GAAP organic revenue(3)
(690)
—
(2,930)
—
Non-GAAP organic revenue on constant currency basis(3)
$ 289,907
$ 282,030
$ 568,807
$ 551,966
Non-GAAP organic revenue growth on constant currency basis
2.8 %
3.1 %
GAAP recurring revenue
$ 285,291
$ 276,279
$ 561,776
$ 539,604
GAAP recurring revenue growth
3.3 %
4.1 %
Less: Non-GAAP recurring revenue from divested businesses(1)
—
—
—
—
Non-GAAP organic recurring revenue(2)
$ 285,291
$ 276,279
$ 561,776
$ 539,604
Non-GAAP organic recurring revenue growth
3.3 %
4.1 %
Non-GAAP organic recurring revenue(2)
$ 285,291
$ 276,279
$ 561,776
$ 539,604
Foreign currency impact on non-GAAP organic recurring revenue(3)
(670)
—
(2,868)
—
Non-GAAP organic recurring revenue on constant currency basis(3)
$ 284,621
$ 276,279
$ 558,908
$ 539,604
Non-GAAP organic recurring revenue growth on constant currency basis
3.0 %
3.6 %
(1) Non-GAAP revenue from divested businesses excludes revenue associated with divested businesses in the prior period. The exclusion of the prior period revenue is to present the results of the divested business with the results of the combined company for the same period of time in both the prior and current periods.
(2) Non-GAAP organic revenue and non-GAAP organic recurring revenue for the prior year periods presented herein may not agree to non-GAAP organic revenue and non-GAAP organic recurring revenue presented in the respective prior period quarterly financial information solely due to the manner in which non-GAAP organic revenue growth and non-GAAP organic recurring revenue growth are calculated.
(3) To determine non-GAAP organic revenue growth and non-GAAP organic recurring revenue growth on a constant currency basis, revenues from entities reporting in foreign currencies were translated to U.S. Dollars using the comparable prior period's quarterly weighted average foreign currency exchange rates. The primary foreign currencies creating the impact are the Australian Dollar, British Pound, Canadian Dollar and Euro.
Blackbaud, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(dollars in thousands)
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
GAAP net income
$ 35,358
$ 26,466
$ 66,497
$ 30,789
Non-GAAP adjustments:
Add: Interest, net
15,652
16,443
30,009
31,733
Add: GAAP income tax provision
11,063
13,575
17,729
14,117
Add: Depreciation
2,845
2,667
5,051
5,642
Add: Amortization of intangibles from business combinations
5,990
7,586
12,845
15,172
Add: Amortization of software development costs(1)
12,804
12,304
25,225
24,176
Subtotal
48,354
52,575
90,859
90,840
Non-GAAP EBITDA
$ 83,712
$ 79,041
$ 157,356
$ 121,629
Non-GAAP EBITDA margin(2)
28.8 %
27.5 %
Non-GAAP adjustments:
Add: Stock-based compensation expense
$ 22,706
$ 27,252
$ 46,586
$ 49,422
Add: Employee severance
—
2,147
—
2,147
Add: GCC workforce transition costs(3)
1,974
—
3,000
—
Add: Acquisition and disposition-related costs(3)
866
264
1,013
25,396
Add: Security Incident-related costs
—
395
—
2,575
Add: Impairment of capitalized software development costs
1,056
—
1,056
—
Subtotal
26,602
30,058
51,655
79,540
Non-GAAP adjusted EBITDA
$ 110,314
$ 109,099
$ 209,011
$ 201,169
Non-GAAP adjusted EBITDA margin(4)
38.0 %
36.6 %
Rule of 40(5)
41.0 %
40.2 %
Non-GAAP adjusted EBITDA
$ 110,314
$ 109,099
$ 209,011
$ 201,169
Foreign currency impact on Non-GAAP adjusted EBITDA(6)
(162)
(1,096)
(1,191)
(891)
Non-GAAP adjusted EBITDA on constant currency basis(6)
$ 110,152
$ 108,003
$ 207,820
$ 200,278
Non-GAAP adjusted EBITDA margin on constant currency basis
38.0 %
36.5 %
Rule of 40 on constant currency basis(7)
40.8 %
39.6 %
(1) Includes amortization expense related to software development costs, and amortization expense from capitalized cloud computing implementation costs.
(2) Measured by GAAP revenue divided by non-GAAP EBITDA.
(3) See additional details in the reconciliation of GAAP to Non-GAAP operating income above.
(4) Measured by non-GAAP organic revenue divided by non-GAAP adjusted EBITDA.
(5) Measured by non-GAAP organic revenue growth plus non-GAAP adjusted EBITDA margin. See Non-GAAP organic revenue growth table above.
(6) To determine non-GAAP adjusted EBITDA on a constant currency basis, non-GAAP adjusted EBITDA from entities reporting in foreign currencies were translated to U.S. Dollars using the comparable prior period's quarterly weighted average foreign currency exchange rates. The primary foreign currencies creating the impact are the Australian Dollar, British Pound, Canadian Dollar and Euro.
(7) Measured by non-GAAP organic revenue growth on constant currency basis plus non-GAAP adjusted EBITDA margin on constant currency basis.
Blackbaud NASDAQ: BLKB reported second-quarter 2026 results that met its operating plan, with management pointing investors toward the upper end of its full-year financial guidance ranges as the company expands its artificial intelligence product portfolio and continues share repurchases.
Chief Executive Officer, President and Vice Chairman Mike Gianoni said the company delivered planned revenue and financial targets during the quarter while maintaining a focus on efficiency and product innovation. He said the updated outlook does not assume a meaningful revenue contribution this year from the company’s five newly launched or announced AI products.
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“AI enablement remains central to our success,” Gianoni said, citing both customer-facing capabilities and internal operational uses. He said Blackbaud is investing in cybersecurity and AI governance as customers seek protections for their data and responsible frameworks for AI use.
Second-Quarter Results and Outlook Chief Financial Officer Chad Anderson said second-quarter organic revenue rose 3% year over year to $291 million. Non-GAAP adjusted EBITDA was $110 million, producing an adjusted EBITDA margin of about 38%. Non-GAAP earnings per share increased 9% to $1.33, while free cash flow rose 46% year over year, or about $24 million, to $75 million.
Anderson said the company expected some moderation in organic revenue growth during 2026 because of the size and timing of certain renewal cohorts. The second-quarter performance was in line with those expectations, he said.
Blackbaud reaffirmed its full-year guidance ranges and now expects to finish in the upper half of its outlook for revenue, adjusted EBITDA, earnings per share and free cash flow. For EPS and free cash flow, Anderson said the company expects results to be at or above the high end of its ranges. Management expects results to be weighted toward the second half of the year, particularly the fourth quarter.
The company said its newly introduced platform fee on certain online giving form transactions is expected to contribute to the second-half weighting, with the largest benefit anticipated in the fourth quarter. Customers can use an existing donor-cover option under which donors pay transaction-related fees, according to Anderson.
Management also reiterated that Blackbaud’s 2026 contractual recurring renewal cohort is approximately 40% larger than the prior-year cohort. The company expects a near-term decline in reported gross dollar retention as more recurring revenue comes up for renewal, before retention returns to a more recent range of 91% to 92% by the end of 2027.
AI Products and Customer Adoption Gianoni highlighted the company’s Development Agent, a fundraising-focused agentic AI product that became generally available ahead of schedule earlier in 2026. The product identifies prospective and dormant donors outside major gift officers’ portfolios and conducts personalized, multi-touch engagement sequences under human supervision.
According to Gianoni, early production results showed reply rates and message-open metrics above industry benchmarks, along with average attributable gift sizes above industry norms. He said customers are using the product to engage a broader donor base without adding headcount.
Blackbaud has also announced four additional “Agents for Good” offerings that are planned for the coming months:
Data Health Agent, designed to identify duplicate records, confirm contact information and address constituent life changes within fundraising solutions. Admissions Agent, intended to support personalized admissions experiences for independent K-12 schools. Digital Marketing Agent, designed to help customers select audiences, generate tailored content and optimize outreach across channels. Accounts Payable Agent, which Blackbaud said will automate invoice intake and optimize payments within Financial Edge NXT. Gianoni said the company plans to unveil further details about a cloud-native, AI-first connected platform at its bbcon 2026 event in Columbus, Ohio, at the end of September. He described the planned platform as a connected system designed to link products, learn from interactions and retain human control over AI-driven actions.
More than half of Raiser's Edge NXT customers use machine-learning-enabled donor prospecting, Gianoni said. Those capabilities generate tens of billions of predictions annually within Blackbaud’s systems, he added.
Sales, Renewals and Contract Terms Management cited a mix of new customer wins, cross-sales and competitive displacements during the quarter. New customers included Nelson University, which selected Raiser's Edge NXT and analytics capabilities, and the East Hampton Historical Society, which selected Raiser's Edge NXT for fundraising modernization.
Blackbaud also cited returning customers that replaced competing providers. Jacksonville Zoo adopted Raiser's Edge NXT and Prospect Insights after using an incumbent point solution, while Centre for Autism Services Alberta selected Financial Edge NXT after using a horizontal accounting provider.
During the question-and-answer session, Gianoni said customer win-backs were being supported by innovation in Blackbaud’s core products and embedded AI capabilities. He also said the company is exceeding its internal sales-bookings plans and seeing favorable win rates across several areas, including K-12, nonprofit, higher education and its YourCause business.
Blackbaud said approximately 90% of contractual recurring revenue is now on contracts of three years or longer, while 25% is on contracts of at least four years. Gianoni noted that only a few years ago, more than half of renewal volume came from one-year customer contracts.
Margins and Capital Allocation The company reiterated long-term targets for 2026 through 2030 that include 4% to 6% annual organic total revenue growth, 6% to 8% annual adjusted EBITDA growth and adjusted EBITDA margins above 40%. Gianoni said potential revenue upside could come from viral giving events and new product launches, including the company’s AI agent offerings.
Anderson said Blackbaud continues to pursue margin expansion through workforce strategy initiatives, technology modernization and other operational measures. He added that the company has not incorporated meaningful AI-driven efficiency gains into its guidance, although management is applying AI across engineering, sales, marketing, customer support and back-office functions.
During the first half of 2026, including the net share settlement of employee stock compensation, Blackbaud repurchased just over 6% of its shares outstanding as of Dec. 31, 2025, Anderson said. Since the fourth quarter of 2023, the company has offset all dilution from stock-based compensation and reduced shares outstanding by about 15%.
Blackbaud expects to allocate at least 50% of cumulative free cash flow generated from 2026 through 2030 to share repurchases, while retaining flexibility for additional repurchases, debt reduction and strategic tuck-in acquisitions.
About Blackbaud (NASDAQ:BLKB)Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company's main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser's Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
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Expanded Collaboration Helps Colleges and Universities Improve Visibility, Streamline Operations and Support Student Success
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced an Innovation Partnership with Student First, the provider of the most modern, AI-powered higher education student information system (SIS) designed to simplify administrative workflows and enhance the student experience.
Building on Blackbaud's strategic investment in Student First earlier this year and the companies' ongoing collaboration through the Blackbaud Partner Network, this new Strategic Innovation Partnership deepens the relationship between the two companies and advances a shared vision for a Connected Campus in higher education.
"Our Innovation Partnership with Student First reflects a shared commitment to helping colleges and universities connect the systems and data that matter most," said Mark Davis, vice president and general manager of education products, Blackbaud. "As institutions face growing pressure to do more with less, they need technology that helps teams work from a shared view. By bringing together the systems that shape both the student experience and institutional performance, Blackbaud and Student First are helping colleges and universities build a stronger foundation for student success and long-term sustainability through our commitment to execution of a shared roadmap across both companies."
Rising costs, enrollment pressures and evolving student expectations are forcing colleges and universities to rethink how they operate. Yet for many institutions, the systems that support critical infrastructure remain disconnected, creating barriers to collaboration, limiting visibility and making it harder to align resources with student success goals.
By bringing together best-in-class solutions for student information, enrollment, financial aid, scholarships, advancement, finance and tuition payments, Blackbaud and Student First are working together to create a Connected Campus operating model that helps colleges and universities unite data, people and processes across the institution to provide greater visibility, reduce complexity and empower institutions to make more informed decisions. With this enhanced level of information flow and collaboration, institutions can align resources to strategic priorities, strengthen financial stewardship and drive student success at scale.
"This strategic partnership represents the first collaboration of its kind between two education technology innovators," said David Meek, CEO of Student First. "Earlier this year we said the most advanced SIS in higher education belongs alongside the best financial and advancement platform in the market. This expanded partnership proves that at scale. Extending our work with Blackbaud into product, sales, and marketing means institutions across their ecosystem get direct access to a connected campus experience, not just the promise of one."
With this new, expanded partnership, Blackbaud and Student First will work together across product, sales and marketing teams to advance a shared Connected Campus strategy for higher education.
The strategic partnership also reflects a shared commitment to AI for a purpose in higher education: practical, human-centered innovation that helps administrators, faculty and staff reduce manual work, surface meaningful insights and spend more time supporting students. This approach aligns with Student First's view that AI should optimize, analyze, and automate, while human expertise remains central to decisions that shape the student experience.
By pairing Student First's cloud-native, AI-powered SIS and automation-first approach with Blackbaud's AI-powered solutions for social impact, the companies are advancing innovation designed to fit into institutional workflows, reduce administrative time and workload, and support better decisions across the connected campus.
Institutions are already seeing the potential value of a more connected approach.
"With Blackbaud Financial Edge NXT and Student First, we'll have the capacity to automate many of our processes—such as degree audits, billing and applying financial aid—which historically were manual and time-intensive," said Mark Hanshaw, associate provost and general counsel for Cumberland University.
Recent enhancements include AI-driven workflow automation that reduces manual administrative effort across core campus operations, along with predictive intelligence capabilities that identify patterns, trends, and potential risks earlier, enabling institutional leaders to make more proactive, data-informed decisions. Together, these capabilities help colleges and universities improve efficiency, streamline operations, and focus more resources on supporting student success.
The collaboration brings together complementary capabilities designed specifically for higher education. Student First provides a modern, cloud-native Student Information System (SIS) and financial aid platform that supports the full student lifecycle. Blackbaud delivers industry-leading solutions including Blackbaud Financial Edge NXT®, Blackbaud Raiser's Edge NXT®, Blackbaud Award Management™ and Blackbaud Integrated Payments™, helping institutions connect advancement, finance, scholarship management and tuition payment operations within a broader campus ecosystem.
The combined approach is designed to help institutions:
Bridge the gap between advancement and finance by connecting student, financial aid, scholarship, advancement, finance and tuition payment data Reduce manual processes and operational complexity Improve visibility across traditionally disconnected departments Support more informed planning, decision-making and resource allocation Strengthen alignment between institutional resources and student success goals Learn more about Blackbaud's Connected Campus plans in upcoming Product Update Briefings and at bbcon 2026, taking place Sept. 21-Oct. 1 in Columbus, Ohio.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Shares of Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) were up 4.7% during trading on Friday . The stock traded as high as $32.73 and last traded at $32.7150. 51,597 shares traded hands during trading, a decline of 92% from the average session volume of 640,326 shares. The stock had previously closed at $31.25.
Analyst Ratings Changes A number of research firms have recently weighed in on BLKB. Weiss Ratings cut shares of Blackbaud from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Zacks Research lowered shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Robert W. Baird raised shares of Blackbaud from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $60.00 to $50.00 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus lowered their target price on shares of Blackbaud from $45.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $48.75.
Check Out Our Latest Stock Analysis on BLKB
Blackbaud Stock Performance The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.16 and a beta of 1.01. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 33.66. The firm has a 50-day moving average of $29.55 and a 200-day moving average of $39.88.
Blackbaud (NASDAQ:BLKB – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $281.14 million during the quarter, compared to analysts’ expectations of $279.81 million. Blackbaud had a return on equity of 176.76% and a net margin of 12.41%.The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. As a group, sell-side analysts predict that Blackbaud, Inc. will post 3.57 earnings per share for the current year.
Insider Activity In other news, CFO Chad Anderson sold 6,205 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $31.31, for a total value of $194,278.55. Following the completion of the transaction, the chief financial officer directly owned 62,869 shares in the company, valued at $1,968,428.39. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.01% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Blackbaud A number of large investors have recently bought and sold shares of BLKB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Blackbaud by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,434 shares of the technology company’s stock worth $1,454,000 after buying an additional 361 shares during the period. Jones Financial Companies Lllp lifted its stake in Blackbaud by 293.1% during the 1st quarter. Jones Financial Companies Lllp now owns 7,701 shares of the technology company’s stock valued at $478,000 after acquiring an additional 5,742 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Blackbaud by 26.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 229,244 shares of the technology company’s stock valued at $14,225,000 after acquiring an additional 47,549 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Blackbaud by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,751 shares of the technology company’s stock valued at $6,314,000 after acquiring an additional 4,178 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Blackbaud by 886.2% in the first quarter. Jane Street Group LLC now owns 159,729 shares of the technology company’s stock worth $9,911,000 after acquiring an additional 143,533 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Blackbaud Company Profile (Get Free Report)
Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
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Company Teases Transformational Product Functionality in Lead-up to Annual Customer Conference
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced multiple new agents within its Agents for Good™ suite—building on the success of the Development Agent—as well as several other AI-driven product enhancements, all of which are planned for delivery as part of a reimagined Blackbaud operating system for social impact.
"The solutions we're delivering today have been trusted by our customers for decades, but we've now completely rebuilt them under the surface to transform what's possible—especially with AI agents," said Mike Gianoni, president, CEO and vice chairman of the board of directors of Blackbaud. "We are connecting every product and learning from every interaction with AI that gets smarter over time. We're giving customers greater clarity on what to do next, more capacity to take action, and the confidence to leverage intelligent systems without sacrificing human judgment. There is no more powerful AI engine for social impact than Blackbaud."
Embedded, Trustworthy, Effective Agentic AI
Earlier this year, Blackbaud launched Agents for Good™, the first-ever digital teammates native to a social impact-specific platform, to help close capacity gaps commonly experienced by social impact teams. The first of these agents, the Development Agent, allows Blackbaud customers to execute fully autonomous donor engagement workflows under human supervision.
Even in the early stages of adoption, customers are experiencing success in engaging a broader donor base without increasing staff headcount. The Development Agent identifies every potential or dormant donor who is not in a major gift officer portfolio and executes a personalized, brand-aligned, multi-touch engagement sequence. Its reply rate is 76 times the industry average, and it has a message open rate 10 points higher than the industry average, leading to an attributable gift size that is 39% higher.
"We're using the Development Agent to accelerate donor connections and make those connections more impactful in a shorter period," said Brian Otis, vice president for university advancement at the University of New Haven. "This will help us accelerate fundraising across all levels."
Building on the success of the Development Agent, Blackbaud announced today four new Agents for Good planned for the coming month that expand beyond the development office:
The Data Health Agent, which will run autonomously within fundraising solutions to identify duplicate records, confirm contact information and resolve constituent life changes, helping the development office run more curated and targeted campaigns. The Admissions Agent, which will support independent K–12 schools by guiding families through the process, allowing all schools to offer a high-touch, personalized admissions experience that previously only the most well-resourced institutions could achieve, resulting in more complete applications. The Digital Marketing Agent, a sector-specific marketing agent, which will help plan campaigns intelligently, from audience selection and content creation to real-time campaign optimization across channels. The Accounts Payable Agent, the first autonomous AI agent within Blackbaud Financial Edge NXT®, which will help accounts payable teams reduce manual work across each payment cycle by supporting policy-based processing, improving operational efficiency and enabling teams to scale capacity seamlessly. Blackbaud Agents for Good stand apart because they are embedded directly in the solutions customers already trust and use every day, reducing the data gaps and security risks created by bolt-on agents.
AI-Powered Product Enhancements
AI innovation across Blackbaud's platform extends beyond Agents and includes AI-powered enhancements for products across the portfolio, including powerful updates announced today for Financial Edge NXT®.
AI Document Intelligence that processes invoices in seconds, addressing one of the most labor-intensive tasks in finance operations while reducing the risk of data-entry errors. AI Document Intelligence extracts key details from invoices and receipts and then generates draft records automatically, directly removing hours of manual data entry, while keeping teams in control of every review and approval. Import Mapping Assistant that eliminates friction when importing budgets, payables or other data by automatically matching incoming fields to the correct Financial Edge NXT® fields for improved data quality at a fraction of the time. AI Anomaly Detection & Reconciliation Assistants that deliver continuous oversight, reviewing transactions and identifying unusual activity, potential errors, duplicate payments, misclassifications or suspicious patterns. This helps teams catch issues as they happen, rather than after the books are closed. Bridging the AI Effectiveness Gap
Blackbaud is the only AI solutions provider that combines the sector's richest social impact signal graph, embedded sector context, and purpose-built governance—all of which lead to better outcomes for customers. Better outcomes build trust over time, and trust makes organizations willing to let systems act on their behalf, under their oversight.
This foundation of trust is an important component of Blackbaud's mission to help social impact organizations deliver more impact with AI. Recent research from the Blackbaud Institute reveals that AI is now a common part of work across the social sector: most professionals in the field are using AI in their work, with half of them saying they use it more than they did the year prior. However, only a small percentage of organizations are realizing significant dividends on their AI investment; most organizations are held back by gaps between adoption and effective use.
Delivering trusted, transformational AI capabilities is one way Blackbaud is helping the sector close the gap between AI adoption and measurable impact. The other is with the AI Coalition for Social Impact, which last week opened the free, product-agnostic AI for Social Impact Certification Program, designed specifically to help social impact professionals adopt AI effectively and responsibly. Thousands of social impact professionals have already registered for the course.
Blackbaud will unveil full details of its reimagined connected system, along with more exciting product news and announcements, at bbcon 2026, taking place Sept. 29-Oct. 1 in Columbus, Ohio.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Recognition Highlights Company's Strong Employee Experience and Continued Commitment to Powering Social Impact
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, has been named to TIME America's Best Companies of 2026. The recognition reflects Blackbaud's ongoing commitment to fostering a purpose-driven culture, delivering innovative AI-driven technology, and creating meaningful impact for its customers, employees and communities.
"Blackbaud is driven by a powerful purpose to equip the people and organizations who change the world, delivering against our commitments with AI tools that help unleash the best results," said Margaret "Maggie" Driscoll, chief people and culture officer, Blackbaud. "Being recognized on TIME's list of America's Best Companies is a testament to our employees and the passion they bring to their work every day to support our social impact customers around the globe. We're proud to foster a culture that prioritizes wellbeing, flexibility and connection, empowering our teams to do their best work while making a difference."
To identify the top-performing companies in the U.S., TIME partnered with Statista to evaluate and rank the most prominent firms in the country based on employee satisfaction, financial performance, and sustainability transparency. Both public companies and private companies that report their financial and sustainability data were considered. The top 1,000 companies were named to America's Best Companies of 2026.
Blackbaud continues to prioritize a people-first culture and a remote-flexible workforce approach designed to support employee wellbeing and productivity. Internally, Blackbaud is equipping employees with the latest AI tools and education to fundamentally transform what's possible for the company and its ability to deliver stronger outcomes for customers. Blackbaud is building the trusted AI engine for social impact to help organizations achieve more for their missions, and making sure the sector as a whole is able to adopt AI effectively and responsibly by convening the AI Coalition for Social Impact.
This latest recognition adds to Blackbaud's growing list of accolades highlighting its leadership in workplace culture, sustainability and AI-first innovation.
To learn more about Blackbaud's culture and career opportunities, visit careers.blackbaud.com.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
At its 2026 K–12 User Conference, Blackbaud shared human-centered AI capabilities that will help schools increase enrollment, strengthen engagement, and reduce operational complexity
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced new AI-driven innovations for independent K–12 schools at its 2026 K–12 User Conference, including a preview of its new Admissions Agent designed to help schools guide prospective families, improve enrollment outcomes, and streamline admissions workflows.
Private schools today are navigating rising expectations for personalized experiences alongside growing administrative pressure, increasingly complex operations and high turnover rates. Many are exploring how to apply AI in meaningful ways that support their teams by reducing administrative burden and spending more time building the human connections that define education.
Blackbaud's latest innovations are built to meet this moment, bringing human-centered AI to education with intelligent tools embedded directly into its K-12 solutions to help schools turn insight into action. By unifying these capabilities within a shared data foundation, Blackbaud's Total School Solution helps schools reduce fragmentation, gain clearer insight, and take more coordinated action across their entire community.
"Education is, and always will be, a deeply human experience," said Mark Davis, vice president and general manager of education products, Blackbaud. "Our focus is on using responsible AI to reduce administrative burden and strengthen the relationships at the heart of schools, giving teams the tools to act earlier, operate more efficiently, and deliver more connected experiences for families."
Introducing the Admissions Agent
At the center of Blackbaud's latest announcements is the Admissions Agent, part of the company's broader Agents for Good™ agentic AI suite. Purpose-built for schools, the Admissions Agent will enable every independent school to offer the high-touch, personalized admissions experience that previously only the most well-resourced institutions could achieve. The Agent works semi-autonomously or fully autonomously based on each school's comfort level, always within guardrails and always human-centered.
The Agent will:
Reduce friction throughout the admissions funnel, guiding families through each stage of the process Give potential applicants rapid answers to critical questions Keep families engaged with timely, personalized follow-up Identify where prospective families may be dropping off from the admission process Increase qualified, complete applications with a concierge admissions experience Blackbaud will launch an early adopter program soon to partner with schools on shaping the solution to meet the specific needs of school administrators.
Driving a New Era of Connected Intelligence
Blackbaud is embedding AI across its K–12 solutions to help schools move from managing systems to driving outcomes. Innovation highlighted across Blackbaud's Total School Solution to reduce manual work and improve coordination across the campus includes:
Candidate Insights—predictive enrollment and engagement insights—that draw on both historical and real-time data, as well as Blackbaud's proprietary insights to recommend next best actions to engage candidates Blackbaud AI Chat that helps administrators quickly ask questions of their data, get insights in plain language and take action, directly within the solution A Common Records Engine that syncs data in real time between Blackbaud Student Information System™ and Blackbaud Raiser's Edge NXT®, breaking down silos between departments A new Enrollment Contracts capability that simplifies the enrollment process, enabling administrators to streamline contract adjustments and automatically pull in financial management teams once a contract is signed Student Success Insights that help schools proactively identify and support at-risk students A new Parent Initiated Attendance feature that allows parents to submit absences, tardies and early dismissals directly through the Student Information System portal, providing real-time information to both administrative staff and teachers Enhancements across Blackbaud's Learning Management System from a new, simpler grading hub to AI tools that help teachers create and manage assignments An AI-enabled Collections Assistant that helps finance teams get ahead of late payments and see the full picture of a family's situation Together, these advancements enable schools to operate more proactively and reduce administrative burden while improving how they engage students and families.
A Community Focused on the Future
Blackbaud's K–12 User Conference brings together hundreds of school leaders, educators, and administrators for three days of hands-on learning, product innovation sessions, and peer collaboration. Attendees explore new technologies, participate in breakout sessions and discussions, and connect with peers and partners to share best practices and ideas for the future of K–12 private education. Day three will feature the popular Unconference experience—an open, participant-driven forum where educators shape the agenda based on topics that matter most to them.
"Blackbaud has a long history of commitment to education and schools, and this conference is one of the special things they do," said John Yen, director of technology, Polytechnic School. "There are so few conferences and networking opportunities for the support staff and administrators in schools, and this is an important opportunity to engage, learn, and share best practices. With AI at the forefront of technology today, ensuring the underpinnings of our school operations is the essential foundation in weathering changing times and the ongoing evolution in education."
Supporting Stronger Outcomes for Schools
"Research shows that teachers and staff spend over 50% of their time on administrative work," Blackbaud's Mark Davis added. "At Blackbaud we're integrating AI into the tools they use every day to reduce that burden and provide more opportunity to focus on what's most important: empowering student success."
Learn more about Blackbaud's AI-powered solutions for K–12 schools here. And learn more about Blackbaud's approach to Responsible AI here.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, will report its second quarter 2026 financial results on Wednesday, July 29, before the U.S. financial markets open for trading. In conjunction with this announcement, Blackbaud will host a conference call at 8:00 a.m. ET to discuss the company's financial results.
Event:
Blackbaud's Second Quarter 2026 Financial Results Conference Call
Date:
Wednesday, July 29, 2026
Time:
8:00 a.m. ET
Live Webcast:
investor.blackbaud.com
Live Dial-In:
1-877-407-3088 or +1 201-389-0927
A webcast will be available and archived on Blackbaud's investor webpage following the call.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising, nonprofit financial management, digital giving, grant making, corporate social responsibility, and education management. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Free, product-agnostic, expert-led course content is designed to train social impact practitioners in responsible and effective AI use
, /PRNewswire/ -- The AI Coalition for Social Impact—convened by Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact—today opened the AI for Social Impact Certification Program with the launch of the first course: AI Fundamentals for Social Impact. The free, product-agnostic certification program is designed to help organizations build the confidence, skills and governance needed to use artificial intelligence responsibly and effectively.
"AI could bring the greatest unlock of mission acceleration in the history of social impact, but adoption alone is not enough," said Carrie Cobb, chief data and AI officer at Blackbaud. "The key is building AI maturity: investing in education and best practices to govern AI well, plus deploying tools designed for specific workflows. This training—combined with the right technology—will empower organizations to move from tentative AI use to transformative AI results."
Recent data from the Blackbaud Institute (June 2026) found that 85% of nonprofit professionals now use AI at work, and half of organizations increased their AI use in 2026 over last year; however, only around 10% are seeing major gains as a result. The AI for Social Impact Certification Course creates a tangible path forward for organizations looking to build AI maturity that will drive enduring value for their missions.
The first course in the certification program features three lessons, led by experts from AI Coalition for Social Impact member organizations:
Lesson 1: Foundations of AI | Led by Ari Kaplan, a pioneer in digital transformation and currently the global head of evangelism at Databricks, this course offers a clear, accessible introduction to the world of artificial intelligence for social impact professionals. Ari brings his decades of experience translating complex technical concepts into practical frameworks. The course explores the foundations of AI, including its history, evolution, and the key types of AI in use today. It explores not just what AI is, but how to understand and evaluate it in ways that strengthen missions and empower teams. Lesson 2: Navigating AI Tools and Trends | This course, guided by Daniel Wallace and Dante Gabrielli of McKinsey & Company, provides a practical overview of today's AI landscape and what it means for social impact organizations. It explores why AI transformation is happening now, why many organizations struggle to move beyond pilots, and how emerging tools like AI agents are reshaping how work gets done. Through clear frameworks, real-world examples, and accessible explanations, this course helps demystify AI and connect technology trends to mission-driven outcomes. The course is designed to help organizations understand where they are on the AI maturity journey and how to take informed, thoughtful next steps. Lesson 3: Understanding Generational Perspectives of AI | This course, led by Dr. Laurene Currie, Responsible AI Research Scientist at Blackbaud, explores how attitudes toward AI differ across age groups and what these differences mean for adoption in the social impact sector. Drawing on real-world research and examples, Laurene provides insight into generational trends, trust factors, and expectations around AI use. The course is designed to inform how organizations can tailor AI strategies and communication to engage diverse audiences effectively. The AI Coalition for Social Impact, convened by Blackbaud in 2025 brings together leaders from philanthropy, technology, education, and corporate social responsibility to provide guidance, shared standards, and practical resources for responsible AI use. This free, product-agnostic certification program is the coalition's flagship initiative. Course 2, Responsible AI Principles and Regulations, will be available later this year.
Organizations and individuals can learn more, register for the course, and share the opportunity with their networks at:
https://www.blackbaud.com/ai/certifications
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Recognition Highlights Blackbaud's Measurable Efforts to Reduce Environmental Impact and Advance Sustainability
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, announced today that it has been named one of the World's Greenest Companies 2026 by Newsweek and Plant A Insights Group.
The ranking recognizes the top 850 publicly listed companies across 28 countries for their environmental sustainability performance. GIST Impact and Plant-A Insights Group developed the ranking through a comprehensive analysis of self-disclosed data, evaluating over 8,000 organizations to determine the final selection.
Blackbaud Named to Newsweek's World's Greenest Companies 2026 "Blackbaud exists to power social impact, and that responsibility doesn't stop at the products we build," said Margaret "Maggie" Driscoll, chief people and culture officer, Blackbaud. "As we deliver cutting edge technology that helps nonprofits and social impact organizations further their missions, we're taking a responsible, people-first approach to building AI that's intentional about where and how this technology is used as part of our wider commitment to sustainability and stewardship. Being named one of the World's Greenest Companies two years running is proof that our values aren't just words. They show up in our culture, our decisions, and our commitment to the customers we serve. This recognition belongs to every person at Blackbaud who has made sustainability a priority."
Companies were evaluated and scored on more than 25 parameters across four categories: Greenhouse Gas Emissions, Water Usage, Waste Generation, and Sustainability Data Disclosure and Commitments.
"Our planet's future demands collective, immediate action from every sector," said Jennifer H. Cunningham, Newsweek's editor-in-chief. "By spotlighting the World's Greenest Companies, we celebrate the corporate leaders proving that environmental responsibility is not just a moral obligation, but a cornerstone of sustainable, forward-thinking business in today's changing global economy."
Blackbaud's commitment to environmental sustainability centers on responsible operations and measurable progress toward decarbonization. In 2025, Blackbaud achieved carbon neutrality across its business operations for the fifth consecutive year and continued to reduce the environmental footprint of its operations through remote‑flexible work, energy efficient facilities, and ongoing investments in energy and water conservation.
Learn more about how Blackbaud is leading the way to a more responsible future in the company's 2025 Impact Report, and learn more about Blackbaud's approach to Responsible AI here.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
AI Adoption in the Social Impact Sector Is Booming, but Effectiveness Is Not; New Report Investigates Why and What Organizations Should Do Next
, /PRNewswire/ -- The Blackbaud Institute, a research lab at Blackbaud (NASDAQ: BLKB), the world's leading provider of AI‑powered solutions for social impact, today released new research that delivers a clear framework for intentional AI adoption to support the social impact sector's ability to maintain financial resilience, grow donor confidence, and continue responding to pressing societal needs despite constrained resources.
The report, Bridging the AI Effectiveness Gap: New Research on What Drives AI Impact and Trust in the Social Sector, draws on surveys from thousands of social impact professionals and donors to identify what separates organizations that are seeing real results from AI from those that are not.
While 85% of social impact professionals report using AI at work, only about 33% believe their organization is using it very effectively. The research reveals a clear divide between a small group of "AI‑Adaptive" organizations—the 10% of organizations at the top of the AI maturity scale that have moved beyond experimentation to systemic, governed AI use—and the majority of organizations that are still applying AI in fragmented, individual ways. The AI‑Adaptive organizations are realizing significant dividends on their AI investment, consistently reporting stronger outcomes tied to long‑term sector health, including revenue growth, donor retention and staff productivity.
This research comes at a critical time for the social impact sector with traditional fundraising models under increasing strain due to staffing shortages, high turnover and limited resources, all of which directly impact organizations' ability to sustain revenue growth.
"AI presents a transformative opportunity to fundamentally reshape social impact," said Carrie Cobb, chief data and AI officer, Blackbaud. "But this research makes it clear that adoption alone is not enough. To achieve meaningful outcomes, organizations must be intentional about grounding their AI approach in strong data, clear governance and transparency. It's about more than time and cost savings. It's about leveraging AI to position the sector for a future of sustainable growth."
Key Findings
There are four key gaps that organizations should address to improve AI maturity: The effectiveness gap: Despite widespread use, only about 33% of professionals say AI is delivering strong organizational results, signaling a disconnect between individual experimentation and organization‑wide impact. The infrastructure gap: Adoption often outpaces readiness, with only 50% of organizations using paid or enterprise AI tools and nearly 25% relying exclusively on free versions, limiting scalability and increasing risk. The data‑readiness gap: Fewer than 20% of respondents rate their organization's data health as excellent, even though data quality is foundational to effective and responsible AI use. The transparency gap: 71% of donors are either more comfortable or equally comfortable with the social sector using AI than for-profit companies, but transparency is key—76% of donors say it's important to understand when and how AI is used, but only 26% of organizations say they disclose this information today. Time savings exist everywhere, but impact does not: The average organization saves $500/employee/week using AI. AI-Adaptive organizations save $621/employee/week using AI and, more importantly, are reinvesting that time savings into areas that increase revenue and mission delivery, like using AI to help identify and reach new donors, better engage existing donors, reduce costs, and raise more money. There's a clear AI maturity dividend: Organizations that address the four key gaps to move beyond ad hoc AI use and apply AI intentionally across the organization see compounded value. That return comes not just from time savings, but from using AI to increase revenue, strengthen mission delivery and reduce risk. The AI Imperative for Fundraising
For fundraising teams, AI offers a path to more efficient operations, more personalized outreach and greater scale, but only if organizations evolve how they use technology and do so with trust as the foundation.
"The AI opportunity is unlike any other in the history of fundraising, but realizing it requires more than new tools," said Sudip Datta, chief product officer, Blackbaud. "The opportunity isn't just in using AI—it's in using it in ways that build trust, unlock the power of data, and drive smarter action. The future health of the social impact sector depends on organizations rethinking their technology and operating models to move up the AI maturity scale, so that AI helps reduce friction, strengthen relationships and unleash resources at the speed of need."
To support the sector in this journey, Blackbaud has convened the AI Coalition for Social Impact, a collaboration of leading organizations and experts committed to removing barriers to responsible AI adoption across the social impact sector and unlocking the power of AI for good. The first initiative of the Coalition is a free certification program for social impact professionals launching this summer.
Read the Report
To explore the full findings and learn what distinguishes AI‑Adaptive organizations from the rest of the sector, read the Bridging the AI Effectiveness Gap report here.
About the Blackbaud Institute
The Blackbaud Institute is a research lab and educational resource powered by the Blackbaud Philanthropic Dataset, the world's largest combined dataset on giving, volunteering, grantmaking, and social impact. The Institute conducts independent research and publishes insights that help organizations understand trends shaping the social impact sector and make more informed decisions. Learn more at institute.blackbaud.com.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Globally recognized leader in responsible AI will deliver a keynote on pairing innovation with ethical guardrails to drive social impact
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced that Priya Lakhani OBE, a globally recognized AI innovator and CEO, will join the bbcon 2026 mainstage as a keynote speaker. Lakhani will deliver a keynote titled The Art of What's Possible: Responsible AI for Social Impact at bbcon 2026, Blackbaud's annual social impact tech conference, taking place September 29–October 1, 2026, in Columbus, Ohio, with both in-person and virtual attendance options available.
Lakhani's keynote will explore what becomes possible when artificial intelligence is paired with strong ethical guardrails and human judgment—an approach that is increasingly critical as social impact organizations adopt AI to support fundraising, operations, and decision-making. Her session will be followed by a panel discussion moderated by Lakhani and featuring leaders from organizations using AI to accelerate impact across their missions.
"In a time of rapid AI innovation, trust is more important than ever," said Todd Lant, chief customer officer, Blackbaud. "Priya's perspective on ethical, human-centered AI aligns closely with Blackbaud's commitment to helping the social impact sector accelerate missions with responsible and effective AI solutions, designed to maintain both user and constituent trust."
In addition to Lakhani's keynote, bbcon 2026 will feature a full session lineup of more than 100 sessions designed to deliver practical insights, inspiration, and strategies for nonprofits, educational institutions, and companies committed to social responsibility. Early bird pricing for bbcon 2026 is available for a limited time.
bbcon 2026 will conclude with a mainstage appearance by Tony- and Grammy Award-winning artist Leslie Odom, Jr., who will close the conference with an inspirational fireside chat and live performance.
To learn more about bbcon 2026 or to register, visit www.bbconference.com.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Chart of Accounts Health Advisor in Blackbaud Financial Edge NXT® Draws from Industry Best Practices to Provide Always-On Intelligent Insights at No Additional Cost
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced a new Chart of Accounts Health Advisor coming to Blackbaud Financial Edge NXT® to help nonprofit finance teams gain greater clarity, consistency and confidence in their financial data with an always-on, intelligent view into the health of their chart of accounts.
This embedded advisor helps organizations better understand and manage the structure of their chart of accounts, using consistent standards and governance, and helping prevent complex issues that would require specialized services. Combining industry best practices with intelligent analysis, all rolled into an easy-to-digest health score for finance teams, the Chart of Accounts Health Advisor will be included at no additional cost for Financial Edge NXT customers.
"At Blackbaud, we believe the future of nonprofit finance is proactive, intelligent and deeply connected," said Sudip Datta, chief product officer, Blackbaud. "Finance teams shouldn't have to wait for problems to surface during audits or reporting cycles to understand where risk exists. Our focus is on building systems that continuously learn, surface what matters, and guide teams toward better decisions so organizations can trust their data, move faster and focus on advancing their missions."
The Chart of Accounts Health Advisor works by regularly scanning and analyzing accounts against Blackbaud's database of nonprofit-specific industry best practices to surface structural patterns or potential issues that could impact reporting accuracy and ease of use over time. Finance teams receive a clear health score and prioritized, actionable next-step recommendations to help them maintain a chart of accounts structure that scales effectively as their organization grows.
The Chart of Accounts Health Advisor is currently in limited availability and is being released to customers in waves to reach general availability by the end of June.
Learn more here.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
On April 13, 2026, Blackbaud Inc (BLKB) shares rose 5.5% to a current price of $36.16, amidst a challenging price performance context. Over the past month, the
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, will report its first quarter FY2026 financial results at 8:00 a.m. ET on Wednesday, April 29, before the U.S. financial markets open for trading. In conjunction with this announcement, Blackbaud will host a conference call at 8:00 a.m. ET to discuss the company's financial results.
Event:
Blackbaud's First Quarter FY2026 Financial Results Conference Call
Date:
Wednesday, April 29, 2026
Time:
8:00 a.m. ET
Live Webcast:
investor.blackbaud.com
Live Dial-In:
1-877-407-3088 or +1 201-389-0927
A webcast will be available and archived on Blackbaud's investor webpage following the call.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising, nonprofit financial management, digital giving, grant making, corporate social responsibility, and education management. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Blackbaud, Inc. (NASDAQ:BLKB – Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 2,457,902 shares, a growth of 30.2% from the March 15th total of 1,888,251 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average daily trading volume, of 614,824 shares, the days-to-cover ratio is currently 4.0 days.
Blackbaud Trading Up 5.8% Shares of BLKB opened at $37.96 on Thursday. The business’s 50-day moving average price is $43.98 and its 200-day moving average price is $54.75. Blackbaud has a twelve month low of $33.95 and a twelve month high of $74.88. The stock has a market cap of $1.74 billion, a PE ratio of 15.95, a P/E/G ratio of 1.24 and a beta of 1.18. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 12.78.
Blackbaud (NASDAQ:BLKB – Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The technology company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Blackbaud had a return on equity of 175.57% and a net margin of 10.19%.The firm had revenue of $295.26 million for the quarter, compared to analysts’ expectations of $292.71 million. During the same period in the prior year, the business posted $1.08 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Blackbaud has set its FY 2026 guidance at 5.150-5.250 EPS. On average, equities analysts forecast that Blackbaud will post 3.05 EPS for the current fiscal year.
Insider Buying and Selling In related news, EVP Kevin P. Gregoire sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.02, for a total value of $100,040.00. Following the transaction, the executive vice president directly owned 135,194 shares of the company’s stock, valued at approximately $6,762,403.88. The trade was a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David J. Benjamin sold 14,349 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $47.47, for a total transaction of $681,147.03. Following the completion of the transaction, the executive vice president directly owned 73,124 shares in the company, valued at $3,471,196.28. This trade represents a 16.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,801 shares of company stock valued at $1,893,874. 1.97% of the stock is owned by insiders.
Institutional Inflows and Outflows Institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC increased its position in shares of Blackbaud by 589.0% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the technology company’s stock worth $36,000 after purchasing an additional 483 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Blackbaud by 380.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 615 shares of the technology company’s stock worth $39,000 after purchasing an additional 487 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Blackbaud by 4,300.0% in the fourth quarter. TD Private Client Wealth LLC now owns 616 shares of the technology company’s stock worth $39,000 after purchasing an additional 602 shares during the last quarter. Quarry LP bought a new position in shares of Blackbaud in the third quarter worth approximately $46,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Blackbaud in the fourth quarter worth approximately $47,000. 94.21% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets Several research firms have commented on BLKB. Robert W. Baird set a $60.00 price objective on shares of Blackbaud in a report on Wednesday, February 11th. Zacks Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating in a report on Monday. Raymond James Financial set a $60.00 price objective on shares of Blackbaud in a report on Tuesday, February 10th. Evercore set a $55.00 price objective on shares of Blackbaud in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackbaud in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Blackbaud has an average rating of “Reduce” and an average target price of $56.25.
View Our Latest Research Report on BLKB
Blackbaud Company Profile (Get Free Report)
Blackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company’s main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser’s Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
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Valuation Assessment of Blackbaud Inc (BLKB) On April 24, 2026, Blackbaud Inc (BLKB) shares rose 3.6%, closing at $37.49. The stock has experienced significant
As the Presenting Sponsor of the Association of Fundraising Professionals' Flagship Event, Blackbaud will Enable Fundraisers with the Power of Responsible AI
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, is proud to once again serve as the presenting sponsor of AFP ICON, the flagship global conference of the Association of Fundraising Professionals (AFP), taking place this week in San Diego.
As the longstanding category leader in social impact technology, Blackbaud has a proven history of supporting and advancing the fundraising profession, partnering with social impact organizations to advance global missions. Blackbaud is now ushering the sector into a new era of impact, equipping fundraisers with purpose-built, responsible AI tools that help them navigate increasing complexity, meet donor expectations, and accelerate their outcomes.
According to research from the Blackbaud Institute, the typical nonprofit saw approximately 4.3% revenue growth last year, but growth was concentrated among organizations with greater capacity. When resources are scarce, adding capacity can be a challenge, which is why technology that has the power to amplify fundraising results is critical.
"Fundraisers are being asked to do more than ever. They need to build deeper relationships, personalize engagement at scale, and raise more, often with limited time and resources," said Tiffany Crumpton, vice president, head of donor management and fundraising products, Blackbaud. "Our commitment is to help advance the profession by equipping fundraisers with powerful solutions that have intelligent capabilities embedded directly in their day-to-day workflows to scale personalization, and translate philanthropic insight into real-world impact. AFP is a critical partner in shaping the future of fundraising, and together we share a deep commitment to trust, ethics, education, and progress across the sector."
Responsible AI That's Propelling Fundraising Forward
At AFP ICON 2026, Blackbaud will showcase how its AI solutions designed specifically for fundraising and embedded directly into existing workflows are enabling teams to work smarter, expand their capacity, build stronger donor relationships, and accelerate impact.
Blackbaud will highlight its latest AI innovations including:
The Development Agent, Blackbaud's first Agent for Good™: This autonomous, AI-powered digital teammate is the first-ever expert agent to be embedded in a dedicated social impact platform. Working alongside Blackbaud Raiser's Edge NXT® users, the Development Agent identifies, cultivates and engages donors with timely, individualized and brand-aligned outreach that enables fundraising teams to expand their capacity for donor engagement and grow giving at scale. Intelligent Assistance for Raiser's Edge NXT: These AI features help fundraisers work more efficiently by automating workflows and delivering advanced analytics to inform smarter decisions. AI‑enhanced intelligent assistance in Raiser's Edge NXT surfaces strategic insights and recommended actions, boosting productivity while keeping fundraisers firmly in control. Action Strategies in Raiser's Edge NXT: New Action Strategies reduce the prep time required for donor outreach by compiling relevant donor context—recent activity, engagement signals, preferences, and recommended next steps—into concise, easy-to-read briefings within existing workflows. This amplifies fundraisers' expertise and gives them more time to spend building relationships that drive philanthropic outcomes. Blackbaud's commitment to building trustworthy, industry‑specific AI at scale recently earned recognition from Microsoft. As a Microsoft Solutions Partner, Blackbaud has achieved the Certified Software for Non‑Profit AI designation for Raiser's Edge NXT, signaling that its AI capabilities meet Microsoft's standards for enterprise-grade security, interoperability, and customer value. This is an important differentiator for customers seeking confidence as they adopt agentic and generative AI in mission-critical environments. Blackbaud Raiser's Edge NXT, Blackbaud Development Agent and other purpose-built solutions are available as transactable offers through Microsoft's Commercial Marketplace.
The Power of Connected Systems
AFP ICON attendees can also learn how their organizations can benefit from Blackbaud's unique network effect as the provider that connects the entire social impact ecosystem, from fundraising to corporate impact to financial management and more.
Tapping into Workplace Giving: With the Blackbaud Verified Network, nonprofits can boost their visibility to over 500 companies and nine million employees who partner with YourCause® from Blackbaud® to power their purpose in employee giving, volunteering and community investment initiatives. Being part of the Network builds credibility with donors and unlocks the fastest donation processing in the market. Because of the connection between YourCause and Blackbaud Integrated Payments, Blackbaud's nonprofit customers can receive these donations exponentially faster with Blackbaud's exclusive Expedited Giving feature. Connecting the Back Office: With key fundraising products like Blackbaud Raiser's Edge NXT and Blackbaud Enterprise Fundraising CRM™ connecting directly to Blackbaud Financial Edge NXT®, teams can gain greater visibility, accountability and confidence as they scale impact. A Longstanding Partnership with AFP
Together, Blackbaud and AFP invest in professional development, ethical standards and innovations that strengthen the global fundraising community and help nonprofit organizations thrive. Blackbaud is proud to support AFP's mission through conference sponsorship, educational programming, research and ongoing collaboration.
"Blackbaud has long been a valued partner to AFP and the fundraising profession," said Chris Amos, senior director of business development, AFP. "Their continued investment in education, innovation and responsible technology—and their commitment to empowering fundraisers—aligns closely with our mission to advance philanthropy and support professionals at every stage of their careers."
On the Ground at AFP ICON 2026
Conference attendees can connect with Blackbaud experts through conference sessions featuring discussions on navigating uncertainty and using data and AI responsibly, through learning labs featuring practical, hands-on fundraising strategies, and through live demos in the Blackbaud booth showcasing the latest AI-enabled features and workflows.
Visit the Blackbaud booth (#501) to learn more.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Company Launches Its First Agent For Good™ Agentic AI Solution for the Social Impact Sector
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leader in AI for social impact, today announced financial results for its first quarter ended March 31, 2026.
"We're off to a strong start in 2026, and our execution continues to reinforce Blackbaud's clear leadership in the social impact software market," said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud. "With more than 70 new AI capabilities embedded across our products, we have now taken the next step and launched the first of many planned new agentic AI solutions, the Development Agent. Early demand has been exceptional, customer interest is high, and momentum is building. This strong first quarter reinforces our confidence in our AI-powered roadmap and positions Blackbaud well for 2026 and beyond as we pursue our aspirational goals."
First Quarter 2026 Results Compared to First Quarter 2025 Results:
GAAP total revenue was $281.1 million, up 4.2% and non-GAAP organic revenue increased 4.2%. GAAP recurring revenue was $276.5 million, up 5.0% and represented 98.3% of total revenue. Non-GAAP organic recurring revenue increased 5.0%. GAAP income from operations was $51.4 million, with GAAP operating margin of 18.3%, an increase of 1,100 basis points. Non-GAAP income from operations was $83.4 million, with non-GAAP operating margin of 29.6%, an increase of 120 basis points. GAAP net income was $31.1 million, with GAAP diluted earnings per share of $0.67, up $0.58 per share. Non-GAAP net income was $52.6 million, with non-GAAP diluted earnings per share of $1.14, up $0.19 per share. Non-GAAP adjusted EBITDA was $98.7 million, up $6.6 million, with non-GAAP adjusted EBITDA margin of 35.1%, an increase of 100 basis points. Rule of 40 score was 39.3%. GAAP net cash provided by operating activities was $51.5 million, an increase of $50.1 million, with GAAP operating cash flow margin of 18.3%, an increase of 1,780 basis points. Non-GAAP free cash flow was $37.0 million, an increase of $49.3 million, with non-GAAP free cash flow margin of 13.2%, an increase of 1,770 basis points. "We began 2026 with disciplined execution against our operating plan, while continuing to invest in innovation to support both performance today and the opportunities ahead," said Chad Anderson, executive vice president and CFO, Blackbaud. "The quarter reflects the strength of our financial model—driving growth, expanding margins, improving EPS, and generating strong free cash flow. We continued our purposeful capital allocation strategy, repurchasing approximately 4.5% of our shares outstanding at the end of 2025 inclusive of net share settlement of employee stock compensation, while maintaining financial flexibility. This combination of execution, reinvestment, and disciplined capital deployment underpins our ability to deliver long‑term value."
An explanation of all non-GAAP financial measures referenced in this press release, including the Rule of 40, is included below under the heading "Non-GAAP Financial Measures." A reconciliation of the company's non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.
Recent Company Highlights
Blackbaud launched its first Agent for Good™, the Development Agent, which is the first-ever expert agent to be embedded in a dedicated social impact platform and is designed to help personalize donor engagement and grow giving at scale. The Development Agent is available to Raiser's Edge NXT® customers in the U.S., with availability internationally and in other products to follow. Blackbaud highlighted customer outcomes that underline the real-world impact of its solutions and showcase the differentiated power of Blackbaud's specialized domain expertise. Chief Data and AI Officer Carrie Cobb shared how Blackbaud is approaching responsible AI, through engagement, shared learning, and cross‑sector leadership. As the presenting sponsor of the Association of Fundraising Professionals (AFP) ICON conference, Blackbaud shared how it is ushering the sector into a new era of social impact, equipping fundraisers with purpose-built, responsible AI tools that help them navigate increasing complexity, meet donor expectations, and accelerate their outcomes. At its annual Corporate Social Impact Summit, Blackbaud convened hundreds of corporate and social good leaders for thought‑provoking sessions from industry experts and an exclusive preview of upcoming innovation across the YourCause® from Blackbaud® platform, including advancements in AI capabilities, faster donation processing, and social impact reporting. The company announced open registration for bbcon, its annual technology conference, taking place in Columbus, Ohio, Sept. 29–Oct. 1 this year, with global events following in London and Sydney. Visit www.blackbaud.com/newsroom for more information about Blackbaud's recent highlights.
Financial Outlook
Blackbaud today reaffirmed its 2026 full year financial guidance:
GAAP revenue of $1.173 billion to $1.179 billion Non-GAAP adjusted EBITDA of $430 million to $438 million Non-GAAP diluted earnings per share of $5.15 to $5.25 Non-GAAP free cash flow of $280 million to $290 million Included in its 2026 full year financial guidance are the following updated assumptions:
Non-GAAP annualized effective tax rate is expected to be approximately 24.5% Interest expense for the year is expected to be approximately $62 million to $66 million Diluted weighted average shares outstanding for the year are expected to be approximately 45.0 million to 46.0 million Capital expenditures for the year are expected to be approximately $60 million to $70 million, including approximately $52 million to $62 million of capitalized software development costs Blackbaud has not reconciled forward-looking full-year non-GAAP financial measures contained in this news release to their most directly comparable GAAP measures, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. Such reconciliations would require unreasonable efforts at this time to estimate and quantify with a reasonable degree of certainty various necessary GAAP components, including for example those related to compensation, acquisition transactions and integration, tax items or others that may arise during the year. These components and other factors could materially impact the amount of the future directly comparable GAAP measures, which may differ significantly from their non-GAAP counterparts.
Stock Repurchase Program
As of March 31, 2026, Blackbaud had approximately $878 million remaining under its common stock repurchase program that was expanded, replenished and reauthorized in December 2025. Based on our current plans, we expect total repurchases during 2026 to represent between 5.0% and 10.0% of our outstanding common stock as of December 31, 2025.
Conference Call Details
What:
Blackbaud's 2026 First Quarter Conference Call
When:
April 29, 2026
Time:
8:00 a.m. (Eastern Time)
Live Call:
1-877-407-3088 (US/Canada)
Webcast:
Blackbaud's Investor Relations Webpage
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com, or follow us on X/Twitter, LinkedIn, Instagram, and Facebook.
Investor Contact
[email protected]
Media Contact
[email protected]
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the predictability of our financial condition and results of operations. These statements involve a number of risks and uncertainties. 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 based. In addition, other important factors that could cause results to differ materially include the following: management of integration of acquired companies; uncertainty regarding increased business and renewals from existing customers; a shifting revenue mix that may impact gross margin; continued success in sales growth; risks related to the development, deployment, regulation, security, market adoption and perception of artificial intelligence technologies; cybersecurity and data protection risks and related liabilities; potential litigation involving us; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. Blackbaud assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Trademarks
All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Non-GAAP Financial Measures
Blackbaud has provided in this release financial information that has not been prepared in accordance with GAAP. Blackbaud uses non-GAAP financial measures internally in analyzing its operational performance. Accordingly, Blackbaud believes these non-GAAP measures are useful to investors, as a supplement to GAAP measures, in evaluating its ongoing operational performance and trends and in comparing its financial results from period-to-period with other companies in Blackbaud's industry, many of which present similar non-GAAP financial measures to investors. However, these non-GAAP financial measures may not be completely comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation between companies.
The non-GAAP financial measures discussed above exclude the impact of certain transactions that Blackbaud believes are not directly related to its operating performance in any particular period, but are for its long-term benefit over multiple periods. Blackbaud believes these non-GAAP financial measures reflect its ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business.
While Blackbaud believes these non-GAAP measures provide useful supplemental information, non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliations of these non-GAAP measures to their most directly comparable GAAP financial measures.
Non-GAAP free cash flow is defined as operating cash flow less capital expenditures, including costs required to be capitalized for software development, and capital expenditures for property and equipment. Blackbaud believes non-GAAP free cash flow provides a useful measure of the company's operating performance. Non-GAAP free cash flow is not intended to represent and should not be viewed as the amount of residual cash flow available for discretionary expenditures.
In addition, Blackbaud uses non-GAAP organic revenue growth, non-GAAP organic revenue growth on a constant currency basis, non-GAAP organic recurring revenue growth and non-GAAP organic recurring revenue growth on a constant currency basis, in analyzing its operating performance. Blackbaud believes that these non-GAAP measures are useful to investors, as a supplement to GAAP measures, for evaluating the periodic growth of its business on a consistent basis. Each of these measures excludes incremental acquisition-related revenue attributable to companies, if any, acquired in the current fiscal year. For companies acquired in the immediately preceding fiscal year, each of these measures reflects presentation of full-year incremental non-GAAP revenue derived from such companies as if they were combined throughout the prior period. In addition, each of these measures excludes prior period revenue associated with divested businesses, if any. The exclusion of the prior period revenue is to present the results of the divested businesses within the results of the combined company for the same period of time in both the prior and current periods. Blackbaud believes this presentation provides a more comparable representation of its current business' organic revenue growth and revenue run-rate.
Rule of 40 is defined as non-GAAP organic revenue growth plus non-GAAP adjusted EBITDA margin. Non-GAAP adjusted EBITDA is defined as GAAP net income plus interest, net; income tax provision (benefit); depreciation; amortization of intangible assets from business combinations; amortization of software development costs; stock-based compensation expense; Global Capabilities Center ("GCC") workforce transition costs; acquisition and disposition-related costs; and Security Incident-related costs.
Blackbaud, Inc.
Consolidated Balance Sheets
(Unaudited)
(dollars in thousands, except per share amounts)
March 31,
2026
December 31,
2025
Assets
Current assets:
Cash and cash equivalents
$ 34,096
$ 38,914
Restricted cash
418,671
720,061
Accounts receivable, net of allowance of $5,924 and $5,876 at March 31, 2026 and
December 31, 2025, respectively
Common stock, $0.001 par value; 180,000,000 shares authorized, 74,015,631 and
72,312,354 shares issued at March 31, 2026 and December 31, 2025, respectively;
46,297,968 and 46,705,325 shares outstanding at March 31, 2026 and December 31, 2025,
respectively
74
72
Additional paid-in capital
1,415,521
1,391,641
Treasury stock, at cost; 27,717,663 and 25,607,029 shares at March 31, 2026 and
December 31, 2025, respectively
(1,423,843)
(1,316,224)
Accumulated other comprehensive loss
(3,850)
(5,948)
Retained earnings
46,652
15,513
Total stockholders' equity
34,554
85,054
Total liabilities and stockholders' equity
$ 2,109,298
$ 2,390,682
Blackbaud, Inc.
Consolidated Statements of Comprehensive Income
(Unaudited)
(dollars in thousands, except per share amounts)
Three months ended
March 31,
2026
2025
Revenue
$ 281,140
$ 269,936
Cost of revenue
114,581
114,815
Gross profit
166,559
155,121
Operating expenses
Sales, marketing and customer success
47,349
44,644
Research and development
36,916
33,559
General and administrative
30,261
56,679
Amortization of intangible assets
588
534
Total operating expenses
115,114
135,416
Income from operations
51,445
19,705
Interest expense
(16,036)
(16,945)
Other income, net
2,396
2,105
Income before provision for income taxes
37,805
4,865
Income tax provision
6,666
542
Net income
$ 31,139
$ 4,323
Earnings per share
Basic
$ 0.68
$ 0.09
Diluted
$ 0.67
$ 0.09
Common shares and equivalents outstanding
Basic weighted average shares
45,562,304
48,429,061
Diluted weighted average shares
46,351,379
49,445,079
Other comprehensive income (loss)
Foreign currency translation adjustment
$ (1,480)
$ 3,259
Unrealized gain (loss) on derivative instruments, net of tax
3,578
(6,692)
Total other comprehensive income (loss)
2,098
(3,433)
Comprehensive income
$ 33,237
$ 890
Blackbaud, Inc.
Consolidated Statements of Cash Flows
(Unaudited)
Three months ended
March 31,
(dollars in thousands)
2026
2025
Cash flows from operating activities
Net income
$ 31,139
$ 4,323
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
20,551
21,647
Net provision for credit losses and sales returns
1,128
788
Stock-based compensation expense
23,880
22,170
Deferred taxes
4,257
(221)
Amortization of deferred financing costs and discount
486
699
Other non-cash adjustments
—
(5,384)
Changes in operating assets and liabilities, net of acquisition and disposal of businesses:
Accounts receivable
3,613
4,770
Prepaid expenses and other assets
(18,048)
(5,192)
Trade accounts payable
19,258
(4,651)
Accrued expenses and other liabilities
(3,186)
(8,134)
Deferred revenue
(31,619)
(29,427)
Net cash provided by operating activities
51,459
1,388
Cash flows from investing activities
Purchase of property and equipment
(1,668)
(688)
Capitalized software development costs
(12,798)
(12,970)
Cash used in disposition of business
—
(12,235)
Net cash used in investing activities
(14,466)
(25,893)
Cash flows from financing activities
Proceeds from issuance of debt
139,900
216,200
Payments on debt
(74,968)
(85,523)
Employee taxes paid for withheld shares upon equity award settlement
(25,112)
(37,948)
Change in due to customers
(294,090)
(320,248)
Change in customer funds receivable
(6,395)
(2,483)
Purchase of treasury stock, including excise tax payments
(82,103)
(100,030)
Net cash used in financing activities
(342,768)
(330,032)
Effect of exchange rate on cash, cash equivalents and restricted cash
(433)
1,668
Net decrease in cash, cash equivalents and restricted cash
(306,208)
(352,869)
Cash, cash equivalents and restricted cash, beginning of period
758,975
809,512
Cash, cash equivalents and restricted cash, end of period
$ 452,767
$ 456,643
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown above in the consolidated statements of cash flows:
(dollars in thousands)
March 31,
2026
December 31,
2025
Cash and cash equivalents
$ 34,096
$ 38,914
Restricted cash
418,671
720,061
Total cash, cash equivalents and restricted cash in the statement of cash flows
$ 452,767
$ 758,975
Blackbaud, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(dollars in thousands, except per share amounts)
Three months ended
March 31,
2026
2025
GAAP Revenue
$ 281,140
$ 269,936
GAAP gross profit
$ 166,559
$ 155,121
GAAP gross margin
59.2 %
57.5 %
Non-GAAP adjustments:
Add: Stock-based compensation expense
3,087
2,698
Add: Amortization of intangibles from business combinations
6,267
7,052
Add: GCC workforce transition costs(1)
275
—
Subtotal
9,629
9,750
Non-GAAP gross profit
$ 176,188
$ 164,871
Non-GAAP gross margin
62.7 %
61.1 %
GAAP income from operations
$ 51,445
$ 19,705
GAAP operating margin
18.3 %
7.3 %
Non-GAAP adjustments:
Add: Stock-based compensation expense
23,880
22,170
Add: Amortization of intangibles from business combinations
6,855
7,586
Add: GCC workforce transition costs(1)
1,026
—
Add: Acquisition and disposition-related costs(2)
147
25,132
Add: Security Incident-related costs
—
2,180
Subtotal
31,908
57,068
Non-GAAP income from operations
$ 83,353
$ 76,773
Non-GAAP operating margin
29.6 %
28.4 %
GAAP income before provision for income taxes
$ 37,805
$ 4,865
GAAP net income
$ 31,139
$ 4,323
Shares used in computing GAAP diluted earnings per share
46,351,379
49,445,079
GAAP diluted earnings per share
$ 0.67
$ 0.09
Non-GAAP adjustments:
Add: GAAP income tax provision
6,666
542
Add: Total non-GAAP adjustments affecting income from operations
31,908
57,068
Non-GAAP income before provision for income taxes
69,713
61,933
Assumed non-GAAP income tax provision(3)
17,080
15,174
Non-GAAP net income
$ 52,633
$ 46,759
Shares used in computing non-GAAP diluted earnings per share
46,351,379
49,445,079
Non-GAAP diluted earnings per share
$ 1.14
$ 0.95
(1)
GCC workforce transition costs represent severance and other costs incurred in connection with the transition of certain roles to our Global
Capability Center in Hyderabad, India.
(2)
Includes charges of $24.3 million incurred during the three months ended March 31, 2025 related to the release from our lease for office
space in Washington, DC.
(3)
We use a non-GAAP effective tax rate of 24.5% when calculating non-GAAP net income and non-GAAP diluted earnings per share. We
base this rate on our estimated annual GAAP income tax rate, adjusted for items excluded from GAAP income when calculating non-GAAP
income and for significant nonrecurring tax adjustments. We review this non-GAAP tax rate annually to determine whether it remains
appropriate for evaluating our financial performance. In conducting this review, we consider our GAAP annual effective tax rate, changes in
tax legislation, non-GAAP adjustments, and shifts in the geographic mix of revenues and expenses. We also evaluate other factors that we
deem significant. Because the tax treatment of non-GAAP adjustments differs from GAAP and because of our methodology for estimating
the annual tax rate, the non-GAAP tax rate may differ from the GAAP tax rate and from our actual tax liabilities.
Blackbaud, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(dollars in thousands)
Three months ended
March 31,
2026
2025
GAAP revenue
$ 281,140
$ 269,936
GAAP revenue growth
4.2 %
Less: Non-GAAP revenue from divested businesses(1)
—
—
Non-GAAP organic revenue(2)
$ 281,140
$ 269,936
Non-GAAP organic revenue growth
4.2 %
Non-GAAP organic revenue(2)
$ 281,140
$ 269,936
Foreign currency impact on non-GAAP organic revenue(3)
(2,240)
—
Non-GAAP organic revenue on constant currency basis(3)
$ 278,900
$ 269,936
Non-GAAP organic revenue growth on constant currency basis
3.3 %
GAAP recurring revenue
$ 276,485
$ 263,325
GAAP recurring revenue growth
5.0 %
Less: Non-GAAP recurring revenue from divested businesses(1)
—
—
Non-GAAP organic recurring revenue(2)
$ 276,485
$ 263,325
Non-GAAP organic recurring revenue growth
5.0 %
Non-GAAP organic recurring revenue(2)
$ 276,485
$ 263,325
Foreign currency impact on non-GAAP organic recurring revenue(3)
(2,198)
—
Non-GAAP organic recurring revenue on constant currency basis(3)
$ 274,287
$ 263,325
Non-GAAP organic recurring revenue growth on constant currency basis
4.2 %
(1)
Non-GAAP revenue from divested businesses excludes revenue associated with divested businesses in the prior period. The exclusion of
the prior period revenue is to present the results of the divested business with the results of the combined company for the same period of
time in both the prior and current periods.
(2)
Non-GAAP organic revenue and non-GAAP organic recurring revenue for the prior year periods presented herein may not agree to non-
GAAP organic revenue and non-GAAP organic recurring revenue presented in the respective prior period quarterly financial information
solely due to the manner in which non-GAAP organic revenue growth and non-GAAP organic recurring revenue growth are calculated.
(3)
To determine non-GAAP organic revenue growth and non-GAAP organic recurring revenue growth on a constant currency basis, revenues
from entities reporting in foreign currencies were translated to U.S. Dollars using the comparable prior period's quarterly weighted average
foreign currency exchange rates. The primary foreign currencies creating the impact are the Australian Dollar, British Pound, Canadian
Dollar and Euro.
Blackbaud, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(dollars in thousands)
Three months ended
March 31,
2026
2025
GAAP net income
$ 31,139
$ 4,323
Non-GAAP adjustments:
Add: Interest, net
14,357
15,290
Add: GAAP income tax provision
6,666
542
Add: Depreciation
2,206
2,975
Add: Amortization of intangibles from business combinations
6,855
7,586
Add: Amortization of software development costs(1)
12,421
11,872
Subtotal
42,505
38,265
Non-GAAP EBITDA
$ 73,644
$ 42,588
Non-GAAP EBITDA margin(2)
26.2 %
Non-GAAP adjustments:
Add: Stock-based compensation expense
$ 23,880
$ 22,170
Add: GCC workforce transition costs(3)
1,026
—
Add: Acquisition and disposition-related costs(3)
147
25,132
Add: Security Incident-related costs
—
2,180
Subtotal
25,053
49,482
Non-GAAP adjusted EBITDA
$ 98,697
$ 92,070
Non-GAAP adjusted EBITDA margin(4)
35.1 %
Rule of 40(5)
39.3 %
Non-GAAP adjusted EBITDA
$ 98,697
$ 92,070
Foreign currency impact on Non-GAAP adjusted EBITDA(6)
(1,029)
205
Non-GAAP adjusted EBITDA on constant currency basis(6)
$ 97,668
$ 92,275
Non-GAAP adjusted EBITDA margin on constant currency basis
35.0 %
Rule of 40 on constant currency basis(7)
38.3 %
(1)
Includes amortization expense related to software development costs, and amortization expense from capitalized cloud computing
implementation costs.
(2)
Measured by GAAP revenue divided by non-GAAP EBITDA.
(3)
See additional details in the reconciliation of GAAP to Non-GAAP operating income above.
(4)
Measured by non-GAAP organic revenue divided by non-GAAP adjusted EBITDA.
(5)
Measured by non-GAAP organic revenue growth plus non-GAAP adjusted EBITDA margin. See Non-GAAP organic revenue growth table
above.
(6)
To determine non-GAAP adjusted EBITDA on a constant currency basis, non-GAAP adjusted EBITDA from entities reporting in
foreign currencies were translated to U.S. Dollars using the comparable prior period's quarterly weighted average foreign currency exchange rates.
The primary foreign currencies creating the impact are the Australian Dollar, British Pound, Canadian Dollar and Euro.
(7)
Measured by non-GAAP organic revenue growth on constant currency basis plus non-GAAP adjusted EBITDA margin on constant currency
basis.
Blackbaud (BLKB - Free Report) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.56%. A quarter ago, it was expected that this software and services provider in the nonprofit sector would post earnings of $1.15 per share when it actually produced earnings of $1.19, delivering a surprise of +3.48%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Blackbaud, which belongs to the Zacks Computer - Software industry, posted revenues of $281.14 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.53%. This compares to year-ago revenues of $270.66 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Blackbaud shares have lost about 40.8% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Blackbaud?While Blackbaud has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Blackbaud was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.36 on $291.36 million in revenues for the coming quarter and $5.19 on $1.17 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Software is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Intuit (INTU - Free Report) , is yet to report results for the quarter ended April 2026.
This maker of TurboTax, QuickBooks and other accounting software is expected to post quarterly earnings of $12.48 per share in its upcoming report, which represents a year-over-year change of +7.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Intuit's revenues are expected to be $8.52 billion, up 9.9% from the year-ago quarter.
Partnership Will Enable Higher Education Customers to Pair Student First's Future-Ready Student Information System with Blackbaud's Leading Financial Management and Fundraising Solutions to Unify Back-Office Operations and Power Student Success
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced a strategic investment in Student First, the provider of the most modern, AI-enabled student information system (SIS) designed to simplify administrative workflows and enhance the student experience for higher education institutions.
With this investment, Blackbaud and Student First will deliver a best-in-class Connected Campus experience that reduces complexity and campus silos, unifying enrollment, financial aid, scholarships, advancement and finance into a single operating model. Blackbaud customers will be able to leverage Student First's flexible, student-centric SIS, which will natively integrate with Blackbaud's industry-leading solutions for financial management, fundraising, award management and payments to advance student success.
"By joining forces with Student First, we're enabling college and university teams to connect the financial side of their operations to the student information side," said Mark Davis, vice president, education products, Blackbaud. "This kind of data flow creates a connected campus experience that ties student lifecycle activity to the dollars that fund it—linking student and donor activity through advancement, awards, and the general ledger—so institutions can operate smarter, strengthen stewardship, and have the visibility needed to align resources to fuel student success."
"Student First was developed as a unified, cloud-native SIS for higher education, and this partnership with Blackbaud is a natural extension of that platform strength," said David Meek, CEO, Student First. "Together, we help institutions operate smarter in a challenging financial environment by strengthening stewardship, compliance, and long-term sustainability. Joint customers get a comprehensive technology suite built on industry-leading systems, and students get a single, seamless experience."
Key Benefits of the Partnership:
Student First brings a modern, AI-enabled, student-centric SIS, while Blackbaud delivers leadership in purpose-built fund accounting, fundraising, award management, and payments and billing solutions. The partnership connects student enrollment, tuition and donor activity directly to the general ledger, giving institutions a single view that provides greater visibility, accountability and confidence in financial decision-making. Blackbaud's Intelligence for Good® AI capabilities will bolster Student First's student-centric SIS to drive intelligent action across institutions. Institutions gain choice without compromise—modernizing their SIS while leveraging Blackbaud's trusted financial and advancement ecosystem. The two companies will collaborate on product direction and go-to-market strategy to expand and enhance how they serve higher education institutions. This connected campus model replicates the success Blackbaud has already achieved with its Total School Solution approach for independent K–12 schools, offering a complete suite of integrated products purpose built for the unique needs of education institutions.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
About Student First
Student First is an AI-enabled, cloud-native Student Information System designed specifically for the full spectrum of higher education, from career colleges and community colleges to four-year institutions and online programs. Student First delivers a unified platform spanning recruiting and admissions, advising, academic operations, financial aid, student billing, and more. Institutions move beyond the limitations of legacy systems with a solution that simplifies operations, improves data accuracy, and surfaces actionable insight across every function. The result is less administrative burden, smarter decision-making, and a seamless experience for students at every stage of their journey. For more information visit www.studentfirst.com.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Trusted AI Engine Unites Horizontal Coherence with Vertical Intelligence for Enduring AI Value in the Social Impact Sector
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, announced a series of product innovations this week that reflect the company's belief that durable leadership in the AI era will be defined not by standalone features or generic AI, but by intelligent systems that are deeply embedded, difficult to replicate, and trusted to act. With decades of proprietary data, purpose‑built workflows, and extensive sector expertise, Blackbaud is extending the strategic relevance of its platforms as customer expectations shift from insight to execution.
"Leadership in AI will not be defined by how much intelligence a system can generate, but by how confidently users are willing to act on it," said Mike Gianoni, president, CEO and vice chairman of the board of directors of Blackbaud. "In social impact, trust is foundational. That's why we're putting responsible AI principles at the center of everything we do; making sure Blackbaud AI is designed with unmatched context, clear guardrails, and consistent human oversight so innovation accelerates impact rather than introducing risk."
As AI reshapes the software industry, Gianoni is advancing a clear point of view on where lasting advantage will reside: the company is building its next era of solutions as an AI engine that combines Blackbaud's data and context moats to propel better outcomes for customers, resulting in the ultimate differentiator: a trust moat. As trust increases, individuals and organizations become more comfortable shifting from acting themselves to letting Blackbaud AI act with them, or for them, under clear direction and guardrails. At the sector-wide level, the Blackbaud Verified Network has built a layer of trust by reducing friction and increasing the speed and transparency of connection across the sector.
"When technology earns trust, it changes what's possible," Gianoni said. "That's the future we're building toward—one where insight, context, and choice come together to help the people changing the world move faster and achieve outcomes that were previously out of reach."
Across its portfolio, Blackbaud's recent innovations demonstrate this strategy in action by embedding AI directly into systems of record to move organizations from insight to execution:
The Development Agent, the first of Blackbaud's Agents for Good™ introduced to U.S. Raiser's Edge NXT® customers earlier this year, represents a new class of purpose‑built, autonomous AI agents embedded directly in a social impact system of record. Development Agent expands fundraising team capacity to engage one-on-one with thousands of donors via email and text messages, which can increase affinity and giving. Capabilities such as Chat for Blackbaud AI embed conversational, context‑aware intelligence across Blackbaud's core solutions, enabling users to move from insight to action within the platform itself by surfacing insights, summarizing key information, suggesting next steps, and generating communication drafts. By keeping decision‑making and execution inside the system of record, these experiences reduce daily friction and deepen customer engagement. Across financial management and fundraising, Blackbaud is applying AI to expand operating leverage without introducing unnecessary governance risk. From automating high‑volume document workflows to delivering adaptive, data‑driven fundraising insights through Prospect Insights Pro, these capabilities improve efficiency and decision quality while supporting scale in complex, regulated operating environments. In the education space, Blackbaud is introducing AI-powered capabilities designed to improve outcomes without scaling workload or staffing levels with features like Blackbaud Billing Management™ Collections Assistant, designed to help schools take a more proactive, thoughtful approach to collections while preserving strong family relationships. Beyond individual customer workflows, Blackbaud continues to invest in ecosystem‑level efficiency through innovations like Expedited Giving, which can disburse corporate employee giving to recipient nonprofits in just hours (up to 95% faster than alternatives in the market), enhancing trust across the giving lifecycle and extending Blackbaud's role as a critical connector in the social impact economy. Together, these advances underscore Blackbaud's conviction that enduring AI value will be created by platforms that combine breadth and depth—horizontal reach and vertical intelligence—within trusted systems organizations depend on to operate. By anchoring innovation in data, context, and trust, Blackbaud is positioning its solutions to remain essential as the AI landscape evolves.
A full list of recently announced product updates is available on the Blackbaud Newsroom.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual changemakers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Report Reflects Commitment to Strong ESG Practices as The World's Most Trusted and Powerful AI Engine for Social Impact
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today released its 2025 Impact Report, outlining the company's environmental, social, and governance performance and detailing how it is intentionally aligning innovation with responsibility as AI adoption accelerates.
As technology advances at unprecedented speed, Blackbaud is focused on ensuring trust keeps pace with progress. The report reflects the company's belief that how it operates matters as much as what it builds, and that long‑term, sustainable impact depends on clear standards, strong oversight, and accountability.
"As AI innovation accelerates, responsibility isn't optional; it's foundational," said Mike Gianoni, president, CEO, and vice chairman of the board of directors of Blackbaud. "Our customers' missions depend on trust. This report shows how we're strengthening governance, transparency, and sustainability so we can innovate with confidence and support impact that lasts."
In 2025, more than $100 billion was raised, granted, or managed through Blackbaud platforms worldwide, fueling the mission‑driven work of nonprofits, educational institutions, and social impact organizations across the globe.
The 2025 Impact Report also highlights progress across Blackbaud's environmental, people, and governance priorities, including:
Achieving 100% carbon neutrality for 2025 emissions and reducing global greenhouse gas emissions 86% since 2020. Increasing employee engagement, with 75% of employees volunteering in 2025, compared to a global median of 23%. Requiring annual cybersecurity and responsible AI training for all employees to reinforce accountability and data stewardship. Strengthening oversight of responsible AI through a formal, cross‑functional AI Council with enterprise‑wide scope. The report underscores Blackbaud's commitment to advancing responsible AI through disciplined governance and transparency so innovation delivers measurable benefits without compromising trust. In 2025, the company strengthened how accountability, oversight, and transparency guide product development and operations, ensuring responsibility scales alongside technological capability.
"Our role in the social impact ecosystem carries a lower risk tolerance," Gianoni said. "This report reflects the standards we hold ourselves to as a corporate citizen and the progress we're making to operate more responsibly, engage our people more deeply, and govern innovation with rigor."
The 2025 Impact Report provides an in‑depth look at Blackbaud's approach to:
More responsible operations to reduce environmental impact. More employee engagement to strengthen culture and community. More governance oversight to guide responsible innovation and long‑term value creation. The full report is available at csr.blackbaud.com.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
Media Inquiries
[email protected]
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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Blackbaud NASDAQ: BLKB Chief Executive Officer Mike Gianoni outlined the company’s market position, artificial intelligence strategy and financial priorities during a discussion with Zach Canter, managing director in JPMorgan’s technology investment banking group.
Gianoni described Blackbaud as a cloud software company serving the nonprofit and broader social impact sector, including nonprofits, foundations, community foundations, universities, hospitals, K-12 schools, performing arts centers, museums and corporations that run employee volunteering and matching gift programs. He said the company pegs its total addressable market at $10 billion, as reflected in its investor relations materials.
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Blackbaud Emphasizes Vertical Software Breadth Gianoni said Blackbaud’s portfolio includes fundraising platforms, a financial platform built for nonprofit accounting needs, a full ERP platform for K-12 schools, ticketing and membership tools for performing arts organizations, and YourCause, a corporate platform used for employee volunteering, donations and matching gifts.
He said the company’s K-12 offering can support student recruitment, enrollment, classroom scheduling, student information, parent mobile apps, tuition processing, fundraising and financials. For corporations, Gianoni said YourCause integrates with HR and payroll systems and helps employees coordinate volunteering and donations while Blackbaud distributes funds to recipient nonprofits.
Asked about competition, Gianoni said Blackbaud most often competes with small, private, founder-led software companies offering single-point solutions. He said horizontal providers such as Salesforce appear in parts of the market, particularly around higher education, but are not broadly present across areas such as performing arts, K-12 schools, religious organizations or corporate giving platforms.
Gianoni pointed to Blackbaud’s vertical focus, system-of-record position and integrated product set as competitive differentiators. He said the company’s products contain proprietary customer data, enriched industry data and workflows tailored to specific customer types. Integrated fundraising, financial and payments tools can automate processes such as account reconciliation, he said, reducing the need for customers to stitch together multiple vendors.
AI Strategy Centers on Embedded Agents Gianoni said Blackbaud has used machine learning and predictive analytics in its products for more than a decade and has added AI capabilities across multiple solutions over the past two years. He said the company recently launched its first “fully agentic” product, a fundraising agent that had been generally available for six weeks at the time of the discussion.
The product, which Blackbaud calls part of its “Agents for Good” category, is embedded in the company’s system of record. Gianoni said the development agent can use Blackbaud’s data, predictive analytics and wealth screening tools to profile potential donors, create outreach through SMS, email or an avatar, and either hand off a larger opportunity to a human fundraiser or close a donation transaction through Blackbaud’s payments rails.
Gianoni gave the example of a university with 190,000 alumni whose staff can only reach a fraction of that audience. He said an AI fundraising agent could help scale outreach to donors who would otherwise not be contacted, including recent graduates who may start as small monthly donors.
Blackbaud is not using seat-based pricing for the product, Gianoni said. Instead, he described a fixed annual fee model, citing a range of about $25,000 to $30,000 per year, with return on investment tied to how much the agent raises. He said Blackbaud considered consumption-based and donation-percentage models but chose a pricing structure closer to its existing offerings because customers want predictability.
Gianoni said customer receptivity is still in the early stages, but Blackbaud is holding webinars with hundreds of existing customers and signing customers each week across higher education, hospitals, K-12 schools and nonprofits.
Nonprofit Market Remains Resilient, CEO Says Discussing the nonprofit backdrop, Gianoni said the U.S. market is large and resilient, with donations exceeding $600 billion annually and growing 6% in 2024. He said the sector has broadly tracked U.S. GDP over the past 45 years, with slowdowns during 2007-2008 and COVID.
Gianoni said reduced federal funding has affected some nonprofits, but Blackbaud is not in the federal grants funds flow. Instead, its software supports fundraising, major gifts and events. If grants decline, he said, Blackbaud’s platform can become a higher percentage of a nonprofit’s revenue-generating activity.
He also cited COVID as a major test for the sector, saying Blackbaud’s K-12 customers were able to move students to remote school quickly and that institutions such as museums, performing arts centers and zoos pivoted to digital online fundraising and membership changes. He said Blackbaud did not have customers go out of business during COVID.
Financial Outlook and Capital Allocation Gianoni said Blackbaud crossed the Rule of 40 for the first time and has laid out plans to reach Rule of 45. He described the company’s outlook for the next several years as mid-single-digit organic revenue growth, high-single-digit EBITDA growth, mid-double-digit EPS growth of 13% or higher, and strong cash flow performance. He said cash flow was $208 million last year, with the midpoint of this year’s guidance at $285 million.
About one-third of revenue comes from transaction processing, including donation processing, JustGiving and school tuition management, Gianoni said. He said those businesses grow organically in the high single digits. The rest of revenue comes largely from cloud software contracts, generally three years or longer, with more than 20% of customers now on four-year or longer contracts.
On capital allocation, Gianoni said share repurchases are Blackbaud’s top priority, with the company focused on net share reduction rather than simply offsetting stock-based compensation. He said shares outstanding have declined from roughly 52 million to about 47 million over the past couple of years. He also said Blackbaud may pursue tuck-in M&A, especially in adjacent or AI-focused areas, and has reduced debt, with debt to EBITDA at about 2.1 times.
Gianoni said Blackbaud has also invested in a startup building a student information system for universities, taking an equity interest and securing a first right of refusal to buy the company if it chooses.
About Blackbaud NASDAQ: BLKBBlackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company's main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser's Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Appearance to Include a Fireside Chat and an Exclusive Live Performance
, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today announced that Leslie Odom, Jr., award-winning artist, actor and New York Times bestselling author, will join the mainstage as a keynote speaker at bbcon 2026, Blackbaud's annual tech conference. bbcon will take place Sept. 29 through Oct. 1, 2026, with Odom headlining the closing mainstage session on Oct. 1.
Leslie Odom, Jr. will join the mainstage as a keynote speaker at bbcon 2026, Blackbaud’s annual tech conference. Widely recognized for his breakout role as Aaron Burr in Broadway's "Hamilton," Odom brings a voice on creativity, resilience and leadership, drawing from a career spanning Broadway, film, television, music and literature. At bbcon, Odom will take part in a fireside chat on navigating challenges, fostering creativity and delivering excellence, followed by a live performance designed to leave attendees inspired and energized.
"We're thrilled to welcome Leslie Odom, Jr. to bbcon 2026," said Todd Lant, chief customer officer, Blackbaud. "Our audience at bbcon spends every day on the frontlines of changing the world. We want them to leave inspired, refreshed and celebrated—and there's no one better to do that than Leslie. He's a singularly captivating voice. The way he connects storytelling, leadership and purpose is sure to resonate with our community, and we know attendees will be captivated by his exclusive live performance."
Odom is a Tony and Grammy Award winner, a three-time Emmy nominee and a two-time Academy Award-nominated songwriter and actor whose work challenges and uplifts audiences. In addition to "Hamilton," his performances include "One Night in Miami"— which earned recognition for both his performance and musical contribution—"Glass Onion: A Knives Out Mystery," and the Broadway revival "Purlie Victorious: A Non-Confederate Romp Through the Cotton Patch." Odom is currently starring in the new Apple TV+ series, "Imperfect Women."
Beyond the stage and screen, Odom is a New York Times bestselling author and recording artist, with six full-length albums and a 2025 live release, "An Offering: Live at Speakeasy Studios." Through his books, albums and speaking, he encourages audiences to pursue excellence, embrace resilience and commit to continuous growth—values that resonate with bbcon attendees working to drive innovation and impact in their communities.
This year's bbcon event will welcome thousands of social impact and education professionals, learners and leaders seeking to build skills, connect with peers and advance their missions. Attendees can expect inspiring mainstage moments, practical breakout sessions, and meaningful insights from Blackbaud leaders on the future of technology and responsible AI for the sector.
For more information about bbcon 2026 and to register, visit bbconference.com.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the world's leading provider of AI-powered solutions for social impact. Serving nonprofits, educational institutions, companies committed to corporate social responsibility, and individual change makers, Blackbaud propels impact at scale with the sector's most intelligent solutions for fundraising and engagement, education solutions, financial management and CSR and grantmaking. With the deepest expertise powered by the world's largest philanthropic data set, the most connected workflows, and the most powerful impact network, Blackbaud's solutions are building a future where resources are unleashed at the speed of need. Blackbaud has been recognized by Fast Company, Newsweek, Quartz, Forbes and more for AI innovation, responsible leadership and workplace excellence. Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
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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 based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
A month has gone by since the last earnings report for Blackbaud (BLKB - Free Report) . Shares have lost about 18.2% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Blackbaud due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Blackbaud, Inc. before we dive into how investors and analysts have reacted as of late.
Blackbaud’s Q1 Earnings Beat on Recurring Revenue Strength
Blackbaud delivered non-GAAP earnings of $1.14 per share in the first quarter of 2026, up 20.0% year over year and 1.8% above the Zacks Consensus Estimate. Revenue of $281.14 million increased 4.2% from the year-ago quarter and came in 0.4% ahead of the consensus mark.
Performance reflected steady subscription-led execution and healthy transactional volumes. Recurring revenue rose 5.0% to $276.5 million and represented 98.3% of total revenue, keeping the quarter anchored in durable, repeatable demand.
BLKB Maintains A Subscription-Led Growth Profile
BLKB continued to post consistent top-line progress with organic revenue growth of 4.2% in the quarter. Management emphasized that demand remained solid for its mission-critical offerings, while transactional revenue volumes contributed positively, even as the company maintained a conservative posture around the inherent variability of transactional revenue.
The company also pointed to a contract-duration tailwind at renewal. Management noted that more than 20% of customers are now on four-year or longer terms, aided by confidence in product outcomes and the practicality of AI enhancements embedded within workflows.
Blackbaud Leans Into Agentic AI Commercialization
Blackbaud highlighted continued product innovation as a strategic driver, with more than 70 new AI capabilities embedded across its offerings and the launch of its first “Agent For Good” solution, the Development Agent. The company positioned this as a new product category aimed at scaling fundraising capacity inside the trusted Blackbaud environment.
On the earnings call, management framed early commercialization as still in the ramp phase but cited strong interest from existing customers, including oversubscribed webinars and early customer results. The company described the Development Agent as a subscription product expected to be priced in the “tens of thousands per year,” with potential to cross-sell to thousands of customers over time, while also supporting payment-driven transactional revenue through Integrated Payments.
BLKB Expands Margins
Profitability improved alongside growth. Non-GAAP adjusted EBITDA rose $6.6 million year over year to $98.7 million, and adjusted EBITDA margin expanded 100 basis points to 35.1%, reflecting ongoing efficiency actions and operating focus.
Non-GAAP operating income totaled $83.4 million, translating to a 29.6% operating margin, up 120 basis points from the prior-year period. Management also reiterated expectations for gross margin improvement over time, tied to initiatives such as completing the closure of remaining legacy data centers and reducing reliance on certain legacy software infrastructure.
Blackbaud Highlights Cash Flow And Capital Returns
Cash generation strengthened materially in the quarter. GAAP net cash provided by operating activities was $51.5 million, while non-GAAP free cash flow was $37.0 million, improving by $49.3 million year over year.
Blackbaud also continued to prioritize shareholder returns. The company repurchased approximately 4.5% of shares outstanding at the end of 2025 (inclusive of net share settlement of employee stock compensation). As of March 31, 2026, BLKB had about $878 million remaining under its repurchase authorization and expects total 2026 repurchases to represent 5% to 10% of shares outstanding as of Dec. 31, 2025.
BLKB Reaffirms 2026 Outlook
BLKB reaffirmed full-year 2026 guidance, calling for GAAP revenue of $1.173 billion to $1.179 billion and non-GAAP adjusted EBITDA of $430 million to $438 million. The company also maintained its non-GAAP earnings outlook of $5.15 to $5.25 per share and non-GAAP free cash flow guidance of $280 million to $290 million.
Management emphasized that quarterly results are expected to be heavily weighted toward the back half of the year, particularly the fourth quarter. On the call, the company added a modeling note that adjusted EBITDA dollars are expected to decline slightly year over year in the second quarter due to planned AI investments for customer-facing products and internal operations, while keeping the full-year guide intact.
How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -14.13% due to these changes.
VGM ScoresCurrently, Blackbaud has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Blackbaud has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Performance of an Industry PlayerBlackbaud is part of the Zacks Computer - Software industry. Over the past month, Cadence Design Systems (CDNS - Free Report) , a stock from the same industry, has gained 13.4%. The company reported its results for the quarter ended March 2026 more than a month ago.
Cadence reported revenues of $1.47 billion in the last reported quarter, representing a year-over-year change of +18.7%. EPS of $1.96 for the same period compares with $1.57 a year ago.
Cadence is expected to post earnings of $2.05 per share for the current quarter, representing a year-over-year change of +24.2%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
Cadence has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
Blackbaud NASDAQ: BLKB executives emphasized the company’s nonprofit software focus, artificial intelligence initiatives, payments opportunity and capital return strategy during a discussion hosted by Baird Senior Research Analyst Rob Oliver.
Oliver described Blackbaud as a vertical software leader in the nonprofit market and said Baird had recently upgraded the stock, calling it “incredibly inexpensive” from the firm’s view. The discussion featured Chad Anderson, Blackbaud’s chief financial officer, and Jeff Klein, director of corporate strategy and development.
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Executives Highlight Nonprofit Software Footprint Anderson described Blackbaud as a cloud software company serving a range of nonprofit-related markets, including foundations, community foundations, and foundations tied to universities and hospital systems. He said the company has operated in the sector for 45 years, building domain expertise around nonprofit operations and workflows.
At its core, Anderson said Blackbaud provides fundraising software and a financial solution designed for fund-related nonprofit accounting. He also pointed to embedded analytics, payments and deep workflow capabilities.
Anderson said Blackbaud grows revenue “roughly in mid-single digits” and that its revenue base is about two-thirds subscription, typically tied to fundraising and financial management solutions. The remaining roughly one-third comes from payments and other usage or consumption models.
AI Strategy Centers on Analytics, Generative AI and Agents Klein said many of Blackbaud’s products function as mission-critical systems of record for donor management, customer relationship management, financial management, general ledger accounting and payment processing. He said the company’s tools are “critical to running the operations of the business” for many customers.
Klein described three waves of AI within Blackbaud’s platform. The first was the company’s analytics business, which he said has long included capabilities such as donor prospecting and intelligent gift recommendations. The second wave involved generative AI embedded into existing solutions at no additional cost, including Blackbaud AI Chat, which allows users to ask natural-language questions and generate donor outreach content.
The third wave is the company’s “Agents for Good” strategy, which Klein said is designed as a catalog of agentic AI solutions. The first product, a fundraising development agent, is intended to serve as an autonomous virtual teammate that fundraises for an organization. Klein said it entered an early adopter program in the fourth quarter of last year and the first quarter of this year and became generally available in late March. He said early traction has been good.
Asked whether the nonprofit sector’s historically slower technology adoption gives Blackbaud time to embed AI into its platform, Klein said many customers do not have large technology teams and look to vendors such as Blackbaud to bring new technologies and use cases to them.
Management Says Funding Pressure Has Not Changed Attrition Trends Oliver asked about the buying environment in light of cuts affecting charities and nonprofits, including changes tied to USAID and local funding. Anderson said the nonprofit sector is large, significant and resilient, noting that it is roughly the third-largest employer in the U.S. and that annual U.S. donations to nonprofits are around $600 billion and growing.
Anderson said some organizations are affected by changes in government funding, but large nonprofits often have multiple revenue streams. If some government-related funding disappears, he said, those organizations can become more reliant on Blackbaud’s fundraising solutions. He added that not all nonprofit verticals are affected in the same way.
“While some of our clients have been under pressure, we haven’t seen a notable change in client attrition to speak of,” Anderson said.
Contracts, Cross-Sell and Payments Remain Key Growth Levers Anderson said Blackbaud began planning a move toward standard three-year contracts five or six years ago, paused during COVID and rolled out the program in 2023. The contracts include embedded price escalators. He said gross dollar retention has remained stable at around 92%, and the company is now entering the next renewal wave after completing the initial three-year cycle.
Klein said cross-selling remains an important part of Blackbaud’s land-and-expand model. About half of the company’s sales force is focused on new logos, while the other half is focused on cross-selling portfolio products. He said Blackbaud has roughly 18 products and is adding separately priced AI products, including the agentic AI offering.
Payments also remain a major part of the business. Klein said transactional revenue is a little over one-third of total revenue and has historically grown slightly faster than core software, in the mid- to high-single-digit range. He cited new logos, payment enablement within the existing base, pricing levers such as take-rate optimization, donor-cover models and donation or tuition volume growth as drivers.
Capital Allocation Focuses on Buybacks On competition, Klein said Blackbaud operates in a fragmented market and is the only provider in its space with a broad suite spanning financial management, fundraising, digital marketing, school operations and ticketing for arts and cultural customers. He said larger horizontal providers such as Salesforce and Microsoft Dynamics appear in some deals, but their products are not purpose-built for nonprofits and often require outside customization.
Klein also said Blackbaud sees a data advantage based on the volume, variety, velocity and governance of its data, particularly as AI becomes more important.
Anderson said capital allocation has prioritized share repurchases over the past few years. He said Blackbaud has reduced its overall share count by 14% over a couple of years and has publicly stated an intent to dedicate at least 50% of free cash flow to repurchases annually, with a goal of reducing shares by 5% to 10%.
Anderson said the company also aims to manage leverage in the “low twos” and views tuck-in acquisitions as a third capital allocation priority. He said free cash flow has increased at roughly a 25% compound annual growth rate since 2020 and reiterated targets for mid-single-digit revenue growth, 6% to 8% EBITDA growth and 13%-plus EPS growth, with AI described as a potential tailwind not factored into current guidance.
About Blackbaud NASDAQ: BLKBBlackbaud, Inc is a leading provider of cloud software, services and data intelligence solutions designed specifically for the social good community. The company's main offerings include fundraising and relationship management platforms, financial management systems, grant and award management tools, and advanced analytics. Its flagship products—such as Raiser's Edge NXT, Blackbaud Financial Edge NXT and Blackbaud NetCommunity—help nonprofit organizations, educational institutions, healthcare providers and foundations streamline donor engagement, optimize financial operations and measure program impact.
Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has grown from a small technology startup into a global specialist in nonprofit software.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Blackbaud Right Now?Before you consider Blackbaud, you'll want to hear this.
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While Blackbaud currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
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Executive VP and CFO Sells BLKB 6,205 Shares for $194,000This cloud software provider for mission-driven organizations reported a sale by its CFO amid a challenging year for its stock.
Chad Anderson, Executive VP and CFO of Blackbaud (BLKB +1.48%), reported the sale of 6,205 shares of common shares in an open-market transaction on June 1, 2026, according to a SEC Form 4 filing.
Transaction summaryMetricValueShares sold (direct)6,205Transaction value$194,279Post-transaction shares (direct)62,869Post-transaction value (direct ownership)$2.1 millionTransaction value based on SEC Form 4 reported price ($31.31); post-transaction value based on June 1 market close ($32.74).
Key questionsWhat proportion of Chad Anderson's direct Blackbaud holdings did this sale represent?
This disposition accounted for 8% of Anderson's direct Common Stock holdings at the time, reducing his position from 69,074 to 62,869 shares.Is there evidence of indirect or derivative participation in this transaction?
No indirect or derivative holdings were reported in this filing; both the shares sold and those retained are held directly by Anderson, with no involvement of trusts, LLCs, or options.Company overviewMetricValueRevenue (TTM)$1.1 billionNet income (TTM)$141.3 millionDividend yieldN/ACompany snapshotBlackbaud is a provider of cloud software solutions tailored to the social gooda sector. The company’s strategy centers on delivering integrated SaaS platforms that enable nonprofit and mission-driven organizations to manage fundraising, engagement, and financial operations efficiently.
Offers a suite of cloud-based software solutions, including fundraising, relationship management, marketing, engagement, financial management, grant management, and payment services for mission-driven organizations.Generates revenue primarily through subscription-based software-as-a-service (SaaS) offerings and related value-added services, leveraging a direct sales force.Serves higher education institutions, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, and corporate social responsibility programs globally.What this transaction means for investorsThe Blackbaud executive conducted his recent sale under a 10b5-1 trading plan. That means these transactions, including the timing, were set under prearranged terms. Designed to prevent insiders from taking advantage of material information ahead of time, by definition, investors can’t glean information from this type of sale.
Turning to the stock’s performance, Blackbaud’s returns have been disappointing, to say the least. Looking at the last year, the shares have lost 55.6%. That’s badly trailed major equity indexes. During this period, the S&P 500 index returned 24.6%, and the tech-heavy Nasdaq Composite had a 32.5% total return.
Blackbaud’s board of directors eliminated the dividend in early 2020. While that was understandable given the uncertainty created by the COVID-19 pandemic, it hasn’t reinstated the payout, as many companies have done.
The company’s first-quarter revenue grew 4.2% year over year. Management expects its full-year top line to increase 4% to 4.5%.
