BLKB
Blackbaud, Inc.62.87
+1.13+1.83%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms, adds resilience color
Q&A largely reaffirmed prepared remarks on AI upside and guidance, with scant contradictions but useful color. Management clarified Development Agent pricing—in the tens of thousands annually—applies only to this first product, not the full Agents for Good lineup. On nonprofit funding stress, Chad noted grant cuts boost donation platform reliance, echoing COVID resilience; no churn seen. Buybacks rule capital allocation, tuck-in M&A viable, leverage eyed below 2.5x. Renewals strong despite bigger cohort. Confident tone holds; investors track AI revenue ramp.
Key Stats
Market Cap
3.05BP/E (TTM)
-Basic EPS (TTM)
-4.89Dividend Yield
0%Recent Filings
10-K
FY2025 results
Blackbaud posted FY2025 revenue of $1.13B, down 2% y/y after divesting EVERFI, yet organic revenue grew 5.5% (derived) with transactional recurring up sharply on payments and tuition volume while contractual recurring held steady via pricing and cloud wins. Q4 accelerated the trend, fueled by high-single-digit transactional gains and AI innovations like Agents for Good boosting bookings momentum. Operating income swung to $191M from a $271M loss, margins leaped to 17% on cost cuts and no repeat EVERFI hit; non-GAAP op margin hit 31%. Repurchased 7.9% of shares for $214M at year-end leverage of 2.52x, with $961M capacity left and $266M op cash flow. AI regulatory risks could stall quarterly momentum.
8-K
Strong organic growth, margin gains
Blackbaud reported FY25 results with GAAP revenue of $1.1B, down 2.3% from EVERFI divestiture, yet non-GAAP organic revenue up 5.5% and Rule of 40 at 41.4%. Margins expanded sharply; non-GAAP operating margin hit 30.5%, adjusted EBITDA $405M. Guides 2026 revenue to $1.173B-$1.179B. Repurchases eyed at 5-10% of shares.
8-K
Blackbaud renews CEO contract
Blackbaud amended CEO Michael Gianoni's employment agreement on December 17, 2025, effective January 1, 2026, through December 31, 2027, with $800,000 base salary, equity bonus up to 200% of base, and annual LTI grants targeting $6-12 million. It locks in 24 months severance without cause, full CIC vesting acceleration, yet ties big rewards to performance. Continuity secured.
8-K
Bylaws amended immediately
8-K
Blackbaud updates retirement program
Blackbaud updated its retirement program on December 1, 2025, raising LTI equity eligibility threshold to combined age plus service of 65 from 62, adding a minimum retirement age of 60, and extending post-retirement vesting to performance awards. Aimed at retention and succession. Requires six-month notice. Changes hit annual grants from January 1, 2026.
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