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Blackbaud, Inc. (NASDAQ: BLKB) is a pioneering leader in providing cloud software designed to power social good. This innovative company serves a diverse range of sectors, including nonprofits, foundations, corporations, educational institutions, healthcare organizations, and individual change agents. Founded in 1981 and headquartered in Charleston, South Carolina, Blackbaud has a global footprint with operations in the United States, Australia, Canada, and the United Kingdom.
Blackbaud's comprehensive portfolio includes solutions for fundraising and CRM, marketing, advocacy, peer-to-peer fundraising, corporate social responsibility, school management, ticketing, grantmaking, financial management, payment processing, and analytics. These tools are designed to enhance the impact and efficiency of organizations dedicated to social good. With over 40,000 customers spread across more than 100 countries, the company facilitates the donation of over $100 billion annually.
Recently, Blackbaud has achieved notable milestones. It continues its strategic partnership with the Association of Fundraising Professionals (AFP), sponsoring the AFP ICON conference and launching new AI capabilities for Blackbaud Raiser's Edge NXT®. Other recent news includes an unsolicited acquisition proposal from Clearlake Capital Group and the release of its first-quarter 2024 financial results, showcasing growth in revenue and profitability.
Blackbaud is also investing in technological advancements and partnerships. It recently invested $5 million in UBIQ Education to enhance digital experience ecosystems for K-12 schools. Moreover, Blackbaud's subsidiary, EVERFI, received certification for its Prescription Drug Safety program under the Every Student Succeeds Act (ESSA).
As a testament to its commitment to social impact, Blackbaud's 2023 Impact Report highlights significant progress in its environmental, social, and governance priorities. The company has been recognized on Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. Learn more about Blackbaud's solutions and impact at www.blackbaud.com.
Blackbaud (NASDAQ: BLKB) has announced a strategic partnership with Nacional Monte de Piedad, a 250-year-old Mexican financial institution, to enable donations to Mexican charities through the YourCause® platform. This collaboration will allow Blackbaud's corporate clients to facilitate employee giving, corporate gift matching, and grants to vetted charities in Mexico.
The partnership enables both cross-border and in-country giving, allowing employees in Mexico to donate in their local currency while receiving tax benefits. Nacional Monte de Piedad will be responsible for vetting charities, facilitating cross-border funds, and distributing donations to Mexico-based nonprofits.
Through YourCause, Blackbaud currently supports employee engagement in over 170 countries, with 26 languages and 172 currencies available. The platform provides modern, purpose-built software solutions designed to amplify corporate social responsibility initiatives, connecting companies and employees to millions of nonprofits worldwide.
Blackbaud (BLKB) reported its Q4 and full-year 2024 financial results. For Q4, total revenue was $302.2 million, up 2.4%, with recurring revenue at $296.2 million representing 98% of total revenue. The company reported a Q4 GAAP loss from operations of $367.1 million, primarily due to EVERFI impairment and disposition charges of $405.4 million.
For full-year 2024, total revenue reached $1.2 billion, up 4.5%. The company divested EVERFI and repurchased 10% of outstanding stock. Looking ahead to 2025, Blackbaud projects revenue between $1.115-1.125 billion with organic growth of 4.5-5.4%, and plans to repurchase 3-5% of outstanding shares.
The company aims to become a Rule of 45 company by 2030, building on improvements in revenue, cash flows, and Rule of 40 metrics over the past five years.
Blackbaud (NASDAQ: BLKB) announced its Q4 and full-year 2024 financial results, highlighting significant milestones including the divestment of EVERFI. For Q4 2024, the company reported GAAP total revenue of $302.2 million, up 2.4% year-over-year, with recurring revenue representing 98% of total revenue.
The company faced a GAAP net loss of $330.8 million in Q4, primarily due to EVERFI impairment and disposition charges of $405.4 million. However, non-GAAP metrics showed strength, with adjusted EBITDA of $102.2 million and free cash flow of $56.5 million.
For full-year 2024, Blackbaud achieved total revenue of $1.2 billion, up 4.5%. The company repurchased 10% of outstanding stock in 2024 and plans to buy back 3-5% of shares in 2025. Looking ahead, Blackbaud provided 2025 guidance projecting revenue between $1.115-1.125 billion and organic revenue growth of 4.5-5.4%.
Blackbaud (NASDAQ: BLKB) has announced the integration of cryptocurrency donations for U.S. nonprofits through its JustGiving platform. The feature, already available in the U.K., allows DAF-enabled U.S. charities to receive donations in over 60 different cryptocurrencies, including Bitcoin, Ethereum, and Tether.
Through a partnership with The Giving Block, cryptocurrency donations will be automatically converted to U.S. dollars before distribution through The Blackbaud Giving Fund, protecting charities from price volatility. The platform serves hundreds of thousands of U.S. charities, enabling them to tap into a market of 580 million cryptocurrency users worldwide, valued at over $3 trillion.
In 2024, cryptocurrency donations to nonprofits exceeded $1 billion. The system offers tax advantages for donors, including capital gains tax relief. JustGiving has facilitated over $9 billion in donations since 2000, and this cryptocurrency integration follows their recent AI implementation for fundraising page creation.
Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, has scheduled its fourth quarter and full year 2024 financial results announcement for Tuesday, February 18, 2025, before U.S. market opening.
The company will host a conference call at 8:00 a.m. ET on the same day to discuss the results. Investors can access the call through a live webcast at investor.blackbaud.com or via phone at 1-877-407-3088 (US) or +1 201-389-0927 (International). The webcast will be archived on Blackbaud's investor webpage for future reference.
Blackbaud (NASDAQ: BLKB) has announced changes to its K-12 Executive Advisory Board, including a new executive director and members. The 19-member board, representing various school disciplines, provides expertise on K-12 independent school needs and advises on product development.
In 2024, Blackbaud conducted nine meetups with over 500 K-12 independent school leaders, along with 10 advisory board sessions and an annual retreat. The board's input focuses on strategic topics like AI application, partner connections, and data insights.
Recent successes include American Heritage School and NSU University School selecting Blackbaud's Total School Solution, while existing clients Punahou School and Pine Crest School extended their relationships. Austin Ewachiw, director of technology at Calvert Hall College High School, has been appointed as the new executive director, succeeding Hiram Cuevas.
Blackbaud (NASDAQ: BLKB) has announced its 2025 annual major gift to support the Center for Disaster Philanthropy (CDP), an organization focused on enhancing philanthropic response to disasters and humanitarian crises. The multi-year contribution will help strengthen communities' disaster resilience and recovery capabilities.
CDP serves as the only full-time resource dedicated to helping donors maximize their disaster-response impact through expert resources, community-driven grantmaking, and philanthropic consulting services. The funds will support both disaster recovery in affected areas and CDP's mitigation and preparedness efforts.
As part of the partnership, Blackbaud will engage its employees through educational webinars covering topics like Disaster Philanthropy 101 and Disaster Preparedness. This initiative follows Blackbaud's previous donations to various organizations including Crisis Text Line, workforce development programs, the American Heart Association, and the International African American Museum.
Blackbaud (NASDAQ: BLKB) has announced a strategic partnership with True Impact to enhance its AI-powered social impact reporting solution, Blackbaud Impact Edge. The integration, available to YourCause corporate clients later this year, will combine True Impact's measurement data with Impact Edge's AI capabilities to provide real-time, evidence-based insights for corporate social responsibility (CSR) programs.
The enhanced platform will offer key features including outcome-based impact measurement, real-time impact insights through AI-powered dashboards, predictive impact forecasting, and integrated storytelling tools. The solution will enable companies to better track, evaluate, and communicate their philanthropic investments' actual results.
Additionally, Blackbaud is currently testing Blackbaud Copilot, its generative-AI assistant embedded in Impact Edge, with select YourCause customers, with full release expected in the coming months.
Blackbaud (NASDAQ: BLKB) has announced nine new participants in its Social Good Startup Program, a tech accelerator supporting early-stage software companies focused on social impact solutions. The January 2025 cohort includes startups developing innovative technologies for nonprofits and socially responsible companies.
The selected companies are: Altruify (philanthropy management marketplace), Boost My School (K-12 school fundraising platform), Collective (mobile platform for local causes), Connect To Give (educational institution fundraising), Daffodil (donor-advised funds network), KarmaSuite (nonprofit finance management), Mentor Spaces (career mentorship platform), Pledge (AI-powered charitable giving), and Revere Software (corporate volunteering platform).
Blackbaud (NASDAQ: BLKB) has announced the sale of its EVERFI Inc. business to an unaffiliated private investment firm for a nominal amount, with the transaction closing on December 31, 2024. The company plans to provide additional details in its upcoming Form 10-K filing.
The company is working with the buyer and EVERFI leadership to ensure a smooth transition for customers and employees. EVERFI will continue to provide educational courses focusing on financial literacy, wellness, compliance, and workplace training. Blackbaud will retain its YourCause® portfolio and Impact Edge™ solution, which remain central to its strategy in supporting corporate impact initiatives.
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