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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.

SOURCE Blackbaud

Blackbaud Unveils New AI Innovation for K-12 Independent Schools with Admissions Agent in Development PR Newswire

, /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.

SOURCE Blackbaud

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.

SOURCE Blackbaud

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.

SOURCE Blackbaud

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.

SOURCE Blackbaud

, /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.

SOURCE Blackbaud

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

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

75,691

80,517

Customer funds receivable

7,605

1,308

Prepaid expenses and other current assets

106,158

89,290

Total current assets

642,221

930,090

Property and equipment, net

85,053

85,076

Software development costs, net

156,628

155,842

Goodwill

1,055,777

1,056,815

Intangible assets, net

99,279

106,654

Other assets

70,340

56,205

Total assets

$    2,109,298

$    2,390,682

Liabilities and stockholders' equity

Current liabilities:

Trade accounts payable

$       46,884

$       27,344

Accrued expenses and other current liabilities

37,515

43,272

Due to customers

425,124

719,833

Debt, current portion

23,160

22,660

Deferred revenue, current portion

333,996

368,986

Total current liabilities

866,679

1,182,095

Debt, net of current portion

1,163,182

1,087,037

Deferred tax liability

27,333

21,981

Deferred revenue, net of current portion

6,054

2,778

Other liabilities

11,496

11,737

Total liabilities

2,074,744

2,305,628

Commitments and contingencies

Stockholders' equity:

Preferred stock; 20,000,000 shares authorized, none outstanding

—

—

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.

(dollars in thousands)

Three months ended
March 31,

2026

2025

GAAP net cash provided by operating activities          

$     51,459

$      1,388

GAAP operating cash flow margin

18.3 %

0.5 %

Non-GAAP adjustments:

Less: purchase of property and equipment

(1,668)

(688)

Less: capitalized software development costs

(12,798)

(12,970)

Non-GAAP free cash flow

$     36,993

$    (12,270)

Non-GAAP free cash flow margin

13.2 %

(4.5) %

SOURCE Blackbaud

Blackbaud, Inc. (BLKB) Q1 2026 Earnings Call Transcript

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.

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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.

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Blackbaud's Latest Product Innovations Reflect Company's Defensible Market Position; Anchored in Data, Context, and Trust PR Ne

Blackbaud, Inc. (BLKB) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript

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.

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.

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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].

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New data highlights sustained employee commitment to social impact, including growth in global volunteering engagement and continued momentum in corporate grantmaking

, /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the world's leading provider of AI-powered solutions for social impact, today released its 14th Annual YourCause CSR Industry Review, which highlights that employee participation in social impact programs remained strong throughout 2025, even against a backdrop of ongoing economic pressures and shifts in how people work.  

Each year, the YourCause CSR Industry Review—which draws on aggregated, anonymized data from a subset of the YourCause Global Good Network—delivers an in‑depth analysis of employee giving, volunteering, and corporate philanthropy trends across hundreds of companies and millions of employees worldwide.

Key findings from the 2026 YourCause CSR Industry Review include:

Volunteering participation increased year-over-year, with more employees engaging globally, while a dip in average volunteer hours per participant suggests growing demand for shorter, more flexible opportunities. Employee giving participation remained stable, with the gap between average and median donation amounts holding consistent, as opposed to last year's widening donor gap. Corporate grantmaking continued to scale at a significant level, with a 44% increase in the average grant size, and a 23% higher median sum of grants per client. Small‑to‑mid‑sized companies continued to lead in engagement, reinforcing the role of culture, proximity and program design in driving participation. Global participation accelerated, with volunteering engagement rising across every region, including notable growth outside North America. Engagement rates, average donation values, and company match participation are increasing among newly hired employees, reflecting a growing focus on early program activation and CSR involvement in employee onboarding. The average donation value tied to Dollars for Doers also increased 21% from last year, highlighting how companies are strengthening the link between volunteering and giving through enhanced incentives and rewards. "As companies navigate evolving expectations around work, flexibility and purpose, one thing is clear in this year's data: employee engagement isn't fading—it's thriving," said Andrew Troup, impact officer at YourCause from Blackbaud. "Employees continue to show up in powerful ways for the causes they care about—giving generously, volunteering their time, and doing both at meaningful scale. The organizations unlocking the strongest results are the ones removing friction, making participation relevant, and fully embedding impact into the culture of everyday work."

The report also highlights how program design choices—such as integrated giving and volunteering programs, targeted pledge campaigns, employee resource groups and visible moments of activation—are directly linked to higher engagement and deeper impact. Companies leveraging these approaches consistently outperformed peers with more limited or fragmented programs.

Now with over a decade of experience in social impact research, the YourCause CSR Industry Review continues to serve as a benchmarking resource for CSR, ESG and people leaders seeking to understand how employee expectations and participation are evolving—and how technology and strategy can help organizations respond with confidence.

The full 2026 YourCause CSR Industry Review is available for download at yourcause.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.

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