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Blackbaud, Inc. engages in the providing AI-powered solutions in the United States and internationally. The company offers fundraising and engagement solutions, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate Online, Blackbaud TeamRaiser, JustGiving from Blackbaud, Blackbaud Fundraiser Performance Management, and Blackbaud Altru; financial management solutions, such as Blackbaud Financial Edge NXT, Blackbaud Purchase Cards, Blackbaud Tuition Management, Blackbaud Financial Aid Management, and Blackbaud Billing Management; and grant and award management solutions, which includes Blackbaud Grantmaking and Blackbaud Award Management. It also offers education solutions, including Blackbaud Student Information System, Blackbaud Learning Management System, Blackbaud Enrollment Management System, and Blackbaud School Website System; social responsibility, employee giving, and volunteering solutions, such as YourCause GrantsConnect and YourCause CSRconnect, and Blackbaud Impact Edge; and payment services, which includes Blackbaud Merchant Services. In addition, the company provides data intelligence solutions; professional and managed services, such as system implementation, data conversion, business process analysis and application customization, database merging and enrichment, database production activities, website design services, and outcome-based and prescriptive services; and training solutions. The company sells its solutions and related services through its direct sales force. Blackbaud, Inc. was founded in 1981 and is headquartered in Charleston, South Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $286M | $115M | $204M | 135.2% | -2.3% | -138.4% |
| 2024 | $1.2B | $-135M | $-300M | $229M | -236.1% | 4.3% | -10024.6% |
| 2023 | $1.1B | $169M | $3M | $136M | 0.4% | 4.6% | -106.6% |
| 2022 | $1.1B | $83M | $-45M | $133M | -6.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,058.10 | 1,107.08 | 1,154.62 | 1,128.36 |
| Operating Revenue | - | 1,058.10 | 1,107.08 | 1,154.62 | 1,128.36 |
| Cost Of Revenue | - | 505.39 | 508.02 | 523.20 | 465.07 |
| Gross Profit | - | 552.72 | 599.05 | 631.43 | 663.29 |
| Operating Expense | - | 581.20 | 552.70 | 497.44 | 472.54 |
| Research And Development | - | 156.91 | 147.47 | 153.68 | 138.13 |
| Selling General And Administration | - | 421.36 | 402.10 | 340.22 | 332.17 |
| Total Expenses | - | 1,086.59 | 1,060.73 | 1,020.64 | 937.61 |
| Operating Income | - | -28.48 | 46.35 | 133.98 | 190.75 |
| Total Operating Income As Reported | - | -28.48 | 46.35 | -271.38 | 190.75 |
| EBITDA | - | 82.60 | 168.70 | -135.16 | 285.97 |
| Normalized EBITDA | - | 77.96 | 168.74 | 269.71 | 288.81 |
| EBIT | - | -19.77 | 59.21 | -256.83 | 199.75 |
| Interest Income | - | 1.75 | 8.82 | 9.85 | 7.89 |
| Interest Expense | - | 35.80 | 39.92 | 55.63 | 67.97 |
| Net Interest Income | - | -34.06 | -31.10 | -45.79 | -60.08 |
| Other Non Operating Income Expenses | - | 2.33 | 4.08 | 4.22 | 3.95 |
| Other Income Expense | - | 6.97 | 4.04 | -400.66 | 1.11 |
| Interest Income Non Operating | - | 1.75 | 8.82 | 9.85 | 7.89 |
| Interest Expense Non Operating | - | 35.80 | 39.92 | 55.63 | 67.97 |
| Net Non Operating Interest Income Expense | - | -34.06 | -31.10 | -45.79 | -60.08 |
| Pretax Income | - | -55.58 | 19.29 | -312.46 | 131.78 |
| Tax Provision | - | -10.17 | 16.27 | -12.94 | 16.81 |
| Tax Rate For Calcs | - | - | - | 0 | - |
| Tax Effect Of Unusual Items | - | 0.85 | -0.01 | -16.60 | -0.36 |
| Net Income Continuous Operations | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Net Income From Continuing And Discontinued Operation | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Net Income From Continuing Operation Net Minority Interest | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Net Income | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Net Income Common Stockholders | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Net Income Including Noncontrolling Interests | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Normalized Income | - | -49.19 | 3.05 | 88.75 | 117.45 |
| Diluted NI Availto Com Stockholders | - | -45.41 | 3.02 | -299.52 | 114.97 |
| Basic Average Shares | - | 51.57 | 52.55 | 50.56 | 47.68 |
| Diluted Average Shares | - | 51.57 | 53.72 | 50.56 | 48.47 |
| Reconciled Depreciation | - | 102.37 | 109.49 | 121.66 | 86.22 |
| Reconciled Cost Of Revenue | - | 405.94 | 401.68 | 405.07 | 381.09 |
| Total Unusual Items | - | 4.64 | -0.04 | -404.87 | -2.85 |
| Total Unusual Items Excluding Goodwill | - | 4.64 | -0.04 | -404.87 | -2.85 |
| Special Income Charges | - | 0 | 0 | -405.36 | 0 |
| Gain On Sale Of Business | - | 0 | 0 | -405.36 | 0 |
| Restructuring And Mergern Acquisition | 0.26 | 0 | 0 | - | - |
| Gain On Sale Of Security | - | 4.64 | -0.04 | 0.49 | -2.85 |
| Depreciation Amortization Depletion Income Statement | - | 2.92 | 3.14 | 3.54 | 2.23 |
| Depreciation And Amortization In Income Statement | - | 2.92 | 3.14 | 3.54 | 2.23 |
| General And Administrative Expense | - | 199.91 | 189.94 | 142.72 | 154.61 |
| Other Gand A | - | 199.91 | 189.94 | 142.72 | 154.61 |
| Selling And Marketing Expense | - | 221.46 | 212.16 | 197.50 | 177.56 |
| Amortization | - | 2.92 | 3.14 | 3.54 | 2.23 |
| Amortization Of Intangibles Income Statement | - | 2.92 | 3.14 | 3.54 | 2.23 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Blackbaud, Inc.this co. | BLKB | $1.3B | 11.33↑ premium | 15.32 | 135.2% | 8.32 |
| Array Technologies, Inc. | ARRY | $1.4B | - | 5.37 | -43.0% | 42.29 |
| Rackspace Technology, Inc. | RXT | $1.4B | -6.17 | -1.14 | 18.5% | 18.61 |
| CEVA, Inc. | CEVA | $1.4B | -129.84 | 4.11 | -3.2% | -191.72 |
| Progress Software Corporation | PRGS | $1.3B | 18.15 |
| - |
| - |
| - |
| - |
| - |
| 2.78 |
| 15.3% |
| 8.75 |
| VIA | VIA | $1.3B | -13.50 | 2.07 | -15.4% | -12.17 |
| Pagaya Technologies Ltd. | PGY | $1.3B | 15.74 | 2.67 | 17.0% | 7.50 |
| Sprinklr, Inc. | CXM | $1.3B | 54.96 | 2.12 | 3.9% | 15.02 |
| GigaCloud Technology Inc. | GCT | $1.2B | 8.83 | 2.50 | 28.3% | 7.68 |
| Peer Median | - | 8.83 | 2.58 | 9.6% | 8.21 | |