Blackbaud, Inc. - BLKB STOCK NEWS

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.

Blackbaud (NASDAQ: BLKB) reported strong Q2 2024 results, with revenue growth of 6.0% year-over-year to $287.3 million. GAAP recurring revenue increased 7.2% to $281.4 million, representing 98% of total revenue. The company saw significant profitability improvements, with GAAP operating margin expanding 1,460 basis points to 14.7%. Non-GAAP adjusted EBITDA grew to $102.5 million, with margin increasing 290 basis points to 35.7%.

Notably, Blackbaud's board approved an expanded $800 million stock repurchase authorization. The company reiterated its full-year 2024 guidance, projecting revenue between $1.164-$1.194 billion and non-GAAP adjusted EBITDA margin of 32.5-33.5%.

Blackbaud (NASDAQ: BLKB) has announced the integration of Microsoft Azure OpenAI Service and Microsoft Power BI into its Blackbaud Impact Edge™ solution. This enhancement aims to improve performance, scalability, and reporting capabilities for corporate customers tracking their social impact initiatives. The integration includes:

1. Power BI Embedded for better data visualization and dashboard stability
2. Blackbaud Copilot, a generative-AI chatbot for content generation
3. Enhanced security features and AI capabilities

The availability of Blackbaud Impact Edge has begun with select customers, with general availability scheduled for Q4 2024. Future updates will include alignment with global standards like UN SDGs and Community Reinvestment Act.

Blackbaud Institute's new CSR Industry Review spotlight report reveals significant shifts in corporate social impact practices for 2023. Key findings include:

1. In-person volunteering increased to 87% of all hours, up 21% from 2021.
2. Small companies (1-1000 employees) led with a 40% volunteering engagement rate.
3. U.S.-based employees showed higher giving engagement (12%) compared to global employees (3%).
4. International grantmaking rose, with nearly 20% of grant dollars awarded to charities outside the U.S.

The report, based on data from 412 companies across 104 countries, highlights the growing importance of corporate social responsibility programs and employee engagement in philanthropic activities.

Blackbaud (NASDAQ: BLKB) has announced the July 2024 cohort for its Social Good Startup Program, a tech accelerator supporting early-stage software companies in the social impact sector. The program aims to extend Blackbaud's solutions and maximize impact for nonprofits, schools, and socially responsible companies.

The cohort includes six innovative startups:

• Arbor: AI-powered storytelling platform
• Chat2Impact: Digital assistant chatbot for charities
• Giving Compass: AI-powered donor education platform
• LifeWeb 360: Digital space for sharing memories and tributes
• Ribon: Employee engagement tool for corporate donations
• Your Mission Possible: Project management tool for nonprofit fundraising

These startups offer solutions ranging from AI-powered fundraising and content tools to digital assistant chatbots, aiming to bring innovative technology to the social impact sector.