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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.
EVERFI from Blackbaud announced major updates to its EVERFI Achieve product, a financial education tool designed for banks and credit unions. The enhanced platform features a mobile-first design, personalized content, and new Learner Pathways focused on debt repayment and emergency savings. According to an August 2024 survey, over 70% of adults feel stressed about financial decisions, with only 20% confident in their knowledge.
The platform now includes more than 100 topics, with 13 new resources covering areas like home equity loans and social security benefits. Two new Learner Pathways help users create customized plans for debt management and emergency savings, responding to statistics showing 77% of Americans are anxious about finances and 58% lack separate emergency funds.
Blackbaud (NASDAQ: BLKB) is hosting its semi-annual Product Update Briefings virtually from Nov. 12-15, showcasing recent innovations and future roadmap direction for its software suite. The briefings highlight key advancements in AI technology and six waves of innovation announced at bbcon 2024. Key updates include transformational user experience enhancements for Raiser's Edge NXT, Payment Assistant automation in Financial Edge NXT, new connectivity options for Blackbaud CRM, accelerated corporate donation processing in YourCause, improved data intelligence through LiveRamp partnership, and AI innovations for K-12 solutions.
Blackbaud (NASDAQ: BLKB) reported its Q3 2024 financial results with total revenue of $286.7 million, up 3.3% year-over-year. The company's recurring revenue reached $280.0 million, representing 98% of total revenue. GAAP net income was $20.5 million with earnings per share of $0.40. The company's Social Sector, representing 89% of total revenue, grew at 6.6%. However, due to EVERFI's underperformance, Blackbaud revised its 2024 guidance to revenue of $1.150-1.160 billion with adjusted EBITDA margin of 33.0-34.0%.
Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, has announced its upcoming third quarter 2024 financial results release. The company will report its financial results on Wednesday, October 30, 2024, 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 on the same day to discuss the company's financial results. Interested parties can access the live webcast through the investor webpage on Blackbaud's website. Additionally, a live dial-in option is available at 1-877-407-3088. The webcast will be archived on Blackbaud's investor webpage following the call for future reference.
Blackbaud (NASDAQ: BLKB) hosted its annual technology conference, bbcon 2024, in Seattle, Washington, bringing together thousands of social impact professionals both in-person and virtually. The event featured product announcements, keynote speeches, and over 150 breakout sessions focused on various aspects of social impact technology.
Key highlights included:
- Announcement of AI-powered solutions and enhanced functionality for Blackbaud's core products
- Keynote speeches by Emmy award-winning actress Sheryl Lee Ralph and mental health advocate Dr. Alex George
- Hands-only CPR training provided by the American Red Cross
- Recognition of achievements through the Blackbaud Impact Awards, Social Good Startup Showcase, and Partner Network Awards
The next bbcon is scheduled for October 6-8, 2025, in Philadelphia. Blackbaud will also host Product Update Briefings from November 12-14, 2024.
Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, announced a wide range of innovations at its annual bbcon conference. Key updates include:
1. AI-powered enhancements to Raiser's Edge NXT and Financial Edge NXT, including Blackbaud Copilot for natural language interactions.
2. Improved fundraising tools with optimized donation forms and tap-to-pay capabilities.
3. Enhanced financial management features, including automated invoice scanning and bill pay.
4. Expanded integrations and extensibility options through the Blackbaud Marketplace and new partner connections.
These innovations aim to help social impact organizations raise more funds, save time, and make data-driven decisions. Blackbaud plans to deliver 100% of core Financial Edge NXT capabilities in a unified view by Q1 2025.
The Blackbaud Institute has released a new report titled 'First Impressions: Spontaneous Giving Insights', revealing key trends in spontaneous giving. The study defines spontaneous donors as those making unplanned first-time donations within the last 12 months. Key findings include:
- Spontaneous giving is 25% higher among Millennial, Gen Z, and Black donors
- 72% of spontaneous gifts went to familiar organizations
- Gen Z primarily learns about giving opportunities through social media
- 75% of spontaneous donors prioritize trust, reputation, and ease of donation for repeat giving
- 44% of potential repeat donors want regular updates
The report aims to help nonprofits secure and retain spontaneous givers, particularly younger donors and donors of color.
Blackbaud (NASDAQ: BLKB) has released new Donation Forms for Blackbaud CRM™ and Blackbaud Altru® customers in the U.S. These forms, already available in Blackbaud Raiser's Edge NXT®, aim to help social impact organizations raise more funds, streamline donor experiences, and reduce processing costs. The forms integrate directly with Blackbaud's CRM solutions and payment processor, offering a unified experience.
Two types of forms are available: Optimized Donation Forms for quick, visually appealing campaigns, and Standard Donation Forms for targeted campaigns requiring additional data collection. Early users have reported increased donations and satisfaction with the forms' ease of use and customization options. The forms are now available at no extra cost to U.S. organizations using Blackbaud CRM and Altru with Blackbaud Merchant Services.
Blackbaud (NASDAQ: BLKB) and Microsoft (NASDAQ: MSFT) have announced plans to enhance their offerings for the nonprofit and education markets. Blackbaud will integrate Microsoft AI and analytics into its purpose-built software for social impact organizations. Key points include:
1. Integration of Microsoft Fabric™ to enable new capabilities like comprehensive productivity dashboards.
2. Leveraging Microsoft Azure OpenAI Service and Microsoft Fabric within Blackbaud solutions.
3. Blackbaud Financial Edge NXT® will soon use Microsoft Azure AI Document Intelligence for invoice and receipt scanning automation.
4. Microsoft is the presenting sponsor of bbcon 2024, Blackbaud's annual tech conference.
This collaboration aims to help social impact organizations accelerate their impact through innovative technology solutions.
EVERFI from Blackbaud is releasing new and updated K-12 digital resources for the 2024-25 school year. Key updates include:
- Enhanced EVERFI: Financial Literacy for High School program with expanded learning objectives and increased accessibility
- Updated Marketplaces: Investing Basics resource with new content on working with financial advisors
- Tax Simulation: Understanding Taxes now available as a standalone resource
- New Healthier Me: Intro to Wellness program aligned with National Health Education Standards
- Addition of a fifth lesson to 306: Black History – Continuing the Story focusing on nonviolent resistance
New platform features include a Financial Literacy Collection, program lock/unlock feature, and Google Single Sign-On integration.
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