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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) 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.
Corebridge Financial and EVERFI have conducted a survey involving over 16,000 college students, revealing heightened financial anxiety among students. Key findings indicate that 57% are worried about post-graduation employment and 44% about student loans. Confidence in timely loan repayments has dropped to 69%, while 45% expect family support post-graduation. In credit card management, 83% reported on-time payments. The survey, representative of 371 institutions from 42 states, aims to highlight financial concerns facing students today.
Blackbaud (NASDAQ: BLKB) reported strong financial results for Q3 2022, with total revenue of $261.3 million, up 13% year-over-year. The company expects to meet or exceed its full year 2022 financial guidance, projecting a 29% Rule of 40 performance on a constant currency basis. Non-GAAP adjusted EBITDA increased to $66.9 million. Blackbaud aims for mid-single digit organic growth and an EBITDA margin of around 29% for 2023. The acquisition of Kilter and divestiture of certain products are strategic moves to enhance focus and innovation.
Blackbaud (NASDAQ: BLKB), a leader in cloud software for social good, will release its third quarter 2022 financial results on November 1, 2022, after market close. A conference call to discuss these results is scheduled for November 2, 2022, at 8:00 a.m. ET. Investors can join the call via live dial-in or a webcast available on its investor webpage. This financial update aims to provide insights into the company's performance and outlook for the future.
The 23rd Annual Tech Conference for Good, hosted by Blackbaud (NASDAQ: BLKB), began today, offering a free online platform for social good practitioners worldwide. Notable speakers, including CEO Mike Gianoni and celebrity activists, will share insights to enhance organizational impact. Blackbaud highlights product innovations, such as expanded SKY APIs and AI-driven insights in its fundraising software, aiming to optimize revenue and engagement for nonprofits. The conference will run until December 9, 2022, with on-demand access available after broadcasts.
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