Blackbaud, Inc. - BLKB STOCK NEWS

The Guardian Life Insurance Company of America and EVERFI from Blackbaud will launch 'Minding Your Money: Skills for Life' on April 6, 2023. This innovative financial wellness curriculum targets high school students, aiming to equip them with essential financial habits and decision-making skills before they enter adulthood.

Recent research indicates that 67% of adult Gen Zers experience financial stress, with perceived financial wellness dropping from 39% in 2022 to 23% in 2023. The program will initially reach 20,000 students in 15 states, expanding to 40,000 by the end of the 2024-25 school year, particularly in low-income communities.

On March 27, 2023, Blackbaud (NASDAQ: BLKB) announced the rejection of an unsolicited acquisition proposal from Clearlake Capital for $71.00 per share, stating it significantly undervalues the company. The board, after a thorough review with financial and legal advisors, emphasized its commitment to enhancing shareholder value through organic growth strategies, including improvements noted in their Rule of 40 metrics. CEO Mike Gianoni highlighted successful implementation of key initiatives in early 2023 aimed at increasing profitability, revenue, and cash flow. Blackbaud remains focused on executing its growth strategy and has been recognized for its commitment to social impact.

Blackbaud (NASDAQ: BLKB) is intensifying its commitment to empower nonprofit organizations by enhancing low-code development skills, aimed at democratizing the social impact software sector. The company supports clients like Preble Street, a Maine-based nonprofit, with its Raiser's Edge NXT solution, which facilitates automation and efficiency, significantly reducing administrative burdens. Notably, Preble Street reported automation of over 20 processes, saving 10 hours per week. Blackbaud is expanding training programs and resources, including a series of workshops and webinars, to foster a community of low-code developers within the nonprofit sector.

Blackbaud (NASDAQ: BLKB) announced the launch of SKY API® endpoints for Blackbaud CRM™ and Blackbaud Altru®, enhancing customer capabilities in application development. This release enables third-party partners to create integrations rapidly, thus driving better fundraising and constituent engagement results. The APIs are available for all hosted Blackbaud CRM customers and will extend to Blackbaud Altru customers later this spring, with on-premises access expected in late 2023. Customers can also utilize the Microsoft Power Platform to automate processes and join the SKY Developer Community for additional support.

Blackbaud reported its 2022 financial results, achieving a total revenue of over $1 billion for the first time, reflecting a 14% year-over-year growth. The fourth quarter saw GAAP revenue of $274.8 million, up 10.8%, despite a GAAP net loss of $21.3 million. Non-GAAP metrics showed stronger performance, with adjusted EBITDA increasing to $67.9 million. Looking ahead, Blackbaud anticipates 2023 revenue guidance between $1.08 billion and $1.11 billion, aiming for a 30% adjusted EBITDA margin. Despite operational challenges, the company remains focused on profitability and enhancing shareholder value.

A recent study by Lynch Research Associates highlights the effectiveness of EVERFI's Prescription Drug Safety curriculum, demonstrating significant gains in students' knowledge and attitudes towards prescription drug use. Conducted in schools across the U.S., the program has reached nearly one million students since its introduction in 2018. Key findings reveal improved personal responsibility, accurate perceptions of social norms, and enhanced refusal skills among participants. The curriculum shows lasting impact, with positive behavioral intent maintained over 30 days post-completion. EVERFI, part of Blackbaud (NASDAQ: BLKB), emphasizes the importance of drug safety education to combat rising prescription drug misuse.

Blackbaud (NASDAQ: BLKB), a leader in cloud software for social good, will announce its fourth quarter and full year 2022 financial results on February 13, after U.S. markets close. A conference call will follow on February 14 at 8:00 a.m. ET to discuss these results. Investors can access a live webcast through Blackbaud's investor webpage. With over 40 years of experience, Blackbaud serves nonprofits, educational institutions, and other sectors, providing tailored solutions for fundraising, CRM, and financial management.

Blackbaud (NASDAQ:BLKB) has unveiled an employee engagement benchmark calculator designed to assist companies in assessing their volunteering and giving programs against industry peers. The tool, stemming from the YourCause 10th Annual CSR Review, evaluates data from over 350 companies and 7.6 million employees across 118 countries. It provides insights based on company size and industry, helping organizations set realistic engagement goals. According to Blackbaud, this benchmarking tool is crucial for corporations striving to increase employee participation, driving meaningful social change in their communities.

Blackbaud CEO Mike Gianoni has been inducted into Charleston Business Magazine's 50 Most Influential Hall of Fame for his significant economic and community contributions. This recognition acknowledges his leadership since 2014, during which Blackbaud has achieved notable accolades, including being named a Fortune Change the World company and appearing on the Forbes Most Innovative Growth Company list. Blackbaud continues to expand its impact in the social good sector, having recently acquired EVERFI to enhance its corporate social responsibility offerings.