Blackbaud, Inc. - BLKB STOCK NEWS

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.

Blackbaud (NASDAQ: BLKB) announced significant corporate social responsibility (CSR) initiatives for 2022, focusing on philanthropy and community support. The company made a six-figure donation to Project Drawdown, held nearly 100 volunteering events, and provided disaster relief donations globally. Additionally, Blackbaud distributed over 145 grants and donated over 500 devices to nonprofits. The company has achieved carbon neutrality and has been recognized as one of America's Most Responsible Companies. These efforts reflect Blackbaud's commitment to building a better world through its Ecosystem of Good®.

Blackbaud (NASDAQ: BLKB) has appointed Chad Anderson as the new chief accounting officer, effective immediately. Anderson, who joined Blackbaud in March 2013, previously served as the senior vice president and corporate controller. His experience includes overseeing global financial operations, tax, and financial shared services. CFO Tony Boor expressed confidence in Anderson's leadership skills and contributions to the finance team. Blackbaud is a cloud software company focused on social good, offering tailored solutions for various sectors including nonprofits and education.

Blackbaud (NASDAQ: BLKB) has appointed Yogesh K. Gupta, CEO of Progress Software, and Rupal S. Hollenbeck, Chief Commercial Officer of Check Point Software, to its board of directors. This decision follows the retirement of board members Timothy Chou and Joyce M. Nelson. Both Gupta and Hollenbeck bring extensive experience in software and global operations, which is expected to enhance Blackbaud's growth and innovation strategies. The company aims to deliver significant value to stakeholders as it moves into 2023.