BLACKBAUD INC BLKB
We are 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, we propel 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, our solutions are building a future where resources are unleashed at the speed of need. Blackbaud brings over four decades of leadership to this sector: since originally incorporating in New York in 1982 and later reincorporating as a South Carolina corporation in 1991 and as a Delaware corporation in 2004. We are deeply proud to play a part in our customers' success in their missions to provide healthcare and cure diseases, advance education, preserve and share arts and culture, protect the environment, support those in need and much more.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.13B | $1.15B | $1.11B | $1.06B | $927.7M | $913.2M | $900.4M | $848.6M | $788.5M | $731.6M |
| Cost of revenue | $465.1M | $523.2M | $508.0M | $505.4M | $443.2M | $428.1M | $418.4M | $381.7M | $361.9M | $339.2M |
| Gross profit | $663.3M | $631.4M | $599.1M | $552.7M | $484.5M | $485.2M | $482.0M | $466.9M | $426.6M | $392.4M |
| R&D | $138.1M | $153.7M | $147.5M | $156.9M | $124.6M | $100.1M | $106.2M | $98.8M | $89.9M | $89.9M |
| SG&A | $154.6M | $142.7M | $189.9M | $199.9M | $146.3M | $134.9M | $113.4M | $106.4M | $94.9M | $81.3M |
| Total operating expenses | $472.5M | $902.8M | $552.7M | $581.2M | $459.6M | $447.9M | $454.9M | $407.4M | $358.4M | $324.2M |
| Operating income | $190.8M | -$271.4M | $46.4M | -$28.5M | $24.9M | $37.2M | $27.1M | $59.4M | $68.2M | $68.2M |
| Interest expense | $68.0M | $55.6M | $39.9M | $35.8M | $18.0M | $17.3M | $20.6M | $15.9M | $12.1M | $10.6M |
| Pre-tax income | $131.8M | -$312.5M | $19.3M | -$55.6M | $7.1M | $21.6M | $10.6M | $44.6M | $58.3M | $57.4M |
| Income tax | $16.8M | $12.9M | $16.3M | $10.2M | $1.4M | $13.9M | $1.3M | $219.0K | $15.3M | $11.9M |
| Net income | $115.0M | -$283.2M | $1.8M | -$45.4M | $5.7M | $7.7M | $11.9M | $44.8M | $73.6M | $45.4M |
| EPS, basic | 2.41 | -5.92 | 0.06 | -0.88 | 0.12 | 0.16 | 0.25 | 0.95 | 1.58 | 0.98 |
| EPS, diluted | 2.37 | -5.92 | 0.06 | -0.88 | 0.12 | 0.16 | 0.25 | 0.93 | 1.54 | 0.96 |
| Shares, diluted (wtd. avg.) | $48.5M | $50.6M | $53.7M | $51.6M | $48.2M | $48.7M | $48.3M | $48.0M | $47.8M | $47.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $38.9M | $67.6M | $31.3M | $31.7M | $55.1M | $35.8M | $31.8M | $30.9M | — | — |
| Receivables | $80.5M | $83.5M | $101.9M | $102.8M | $102.7M | $95.4M | $88.9M | $86.6M | — | — |
| Total current assets | $930.1M | $976.6M | $929.8M | $918.6M | $851.0M | $819.1M | $734.5M | $598.0M | — | — |
| Property, plant and equipment | $85.1M | $91.9M | $98.7M | $107.4M | $111.4M | $105.2M | $35.5M | $40.0M | — | — |
| Goodwill | $1.06B | $1.05B | $1.05B | $1.05B | $1.06B | $635.9M | $634.1M | $545.2M | — | — |
| Other intangibles | $106.7M | $132.9M | $581.9M | $635.1M | $698.1M | $277.5M | $317.9M | $291.6M | — | — |
| Total assets | $2.39B | $2.50B | $2.91B | $2.99B | $2.97B | $2.04B | $1.99B | $1.62B | — | — |
| Short-term debt | $22.7M | $23.9M | $19.3M | $18.8M | $18.7M | $12.8M | $7.5M | $7.5M | — | — |
| Total current liabilities | $1.18B | $1.25B | $1.20B | $1.23B | $1.11B | $1.01B | $988.8M | $805.7M | — | — |
| Long-term debt | $1.09B | $1.05B | $760.4M | $840.2M | $937.5M | $518.2M | $459.6M | $379.6M | — | — |
| Total liabilities | $2.31B | $2.37B | $2.10B | $2.25B | $2.25B | $1.62B | $1.60B | $1.24B | — | — |
| Retained earnings | $15.5M | -$99.5M | $198.9M | $197.0M | $242.5M | $236.7M | $234.9M | $246.5M | — | — |
| Total equity | $85.1M | $126.8M | $809.9M | $744.0M | $717.1M | $426.1M | $396.8M | $373.8M | $336.3M | $269.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $265.6M | $296.0M | $199.6M | $203.9M | $213.7M | $148.0M | $182.5M | $201.4M | $176.3M | $153.6M |
| Depreciation and amortisation | $10.1M | $12.8M | $13.0M | $14.1M | $14.4M | $19.2M | $15.0M | $15.9M | $17.8M | $19.8M |
| Stock-based compensation | $92.9M | $105.0M | $127.8M | $110.3M | $120.4M | $87.3M | $58.6M | $48.3M | $40.6M | $32.6M |
| Capital expenditure | $7.8M | $7.4M | $4.7M | $12.3M | $11.7M | $29.7M | $11.5M | $14.7M | $10.2M | $17.7M |
| Investing cash flow | -$74.9M | -$73.4M | -$64.4M | -$85.5M | -$471.3M | -$71.8M | -$167.2M | -$97.8M | -$184.9M | -$47.4M |
| Financing cash flow | -$247.4M | -$139.4M | -$143.0M | -$25.7M | $264.1M | -$10.7M | $111.2M | -$291.9M | $278.6M | -$8.5M |
| Dividends paid | — | — | — | $0 | $0 | $6.0M | $23.6M | $23.3M | $23.1M | $22.8M |
| Buybacks | $217.2M | $418.0M | $18.8M | $0 | $108.4M | $41.0M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001280058-26-000009.
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