Blackbaud, Inc. - BLKB STOCK NEWS

Blackbaud (NASDAQ: BLKB) reported strong financial results for Q3 2021, achieving a total GAAP revenue of $231.2 million, a 7.5% increase year-over-year. Recurring revenue rose by 9.2%, indicating continued growth in its cloud software services for social good. Non-GAAP income from operations was $50.5 million, with adjusted EBITDA at $62.4 million. The company announced share repurchases totaling $40.3 million and raised its full-year financial outlook, predicting substantial free cash flow generation. Blackbaud continues to invest in innovation and customer success.

The Blackbaud Institute has published a report titled Tipping Point: Aligning with Supporters in a Changing World, highlighting key findings from a survey of over 2,160 nonprofit professionals and donors. Conducted from June 28 to July 23, 2021, the research indicates a shift in donor demographics, showing an increase in younger and more diverse donors. Notably, one-third of new donors are likely to continue their support. The report also emphasizes the importance of personalized donor engagement and the adoption of technology to improve donor satisfaction.

Blackbaud (NASDAQ: BLKB) has officially adopted a remote-first workforce approach following successful operations since the COVID-19 pandemic began. The company reports a 50% increase in job applications and 80% of hires are for remote positions in 2021, enhancing talent acquisition and diversity. Additionally, 40% of employees have progressed in their careers over the past year. The transition aims to reduce environmental impact while maintaining a focus on community involvement and employee well-being.

Blackbaud (NASDAQ: BLKB) has announced a multi-year, six-figure donation to Big Brothers Big Sisters to enhance equity and workforce diversity. This contribution supports the BIG Beyond Scholar Program in Charleston, targeting career and educational readiness for under-resourced youth. Over three years, Blackbaud will assist 25-30 students annually, providing mentorship and internship opportunities. The program aims to share successful strategies with similar organizations globally, reinforcing Blackbaud's commitment to social good and community investment.

Blackbaud (NASDAQ: BLKB), a leader in cloud software for social good, will announce its third quarter 2021 financial results on November 3, post-market closure. A conference call is scheduled for November 4 at 8:00 a.m. ET to discuss these results. Blackbaud serves a diverse social good community, offering a range of solutions, including fundraising and CRM, tailored to various sectors. This upcoming financial report is crucial for investors monitoring the company’s performance amidst ongoing market dynamics.

Blackbaud (NASDAQ: BLKB) successfully held its annual bbcon 2021 Virtual conference, attracting nearly 25,000 registrants. The event highlighted innovations that enhance customer efficiency, including updates to Blackbaud Grantmaking, accounts receivable, and a new Payment Terminal. Notable speakers like Laura Dern and LeVar Burton shared insights on social good and resilience. The company also launched Giving Checkout in the U.S., covering transaction costs for nonprofits. With Blackbaud's commitment to customer support, they unveiled free eLearning resources during the pandemic.

Blackbaud (NASDAQ: BLKB) has announced that Grammy-winning artist Colbie Caillat will perform at the bbcon 2021 Virtual conference, scheduled for Oct. 13–15. The event is free and features engaging sessions for social good professionals. Dr. Pippa Grange, a renowned sports psychologist, will also join the mainstage. The conference promises over 140 informative sessions aimed at various sectors including nonprofits and educational institutions, enhancing networking and learning opportunities for attendees.

Blackbaud (NASDAQ: BLKB) announced that LeVar Burton will be a mainstage speaker at the bbcon 2021 Virtual conference, scheduled for October 13–15. This free event currently has over 11,000 registrants and will feature more than 100 sessions aimed at social good professionals. Burton, known for his advocacy in literacy and social good, will share insights with the audience. The conference aims to provide valuable content across various sectors, including nonprofits and educational institutions.

Blackbaud (NASDAQ: BLKB) reported its Q2 2021 financial results, revealing total GAAP revenue of $229.4 million, down 1.1% from the previous year, while GAAP recurring revenue rose slightly by 0.3% to $217.0 million. Non-GAAP diluted earnings per share dipped to $0.82, a decline of $0.03. The company achieved a GAAP net cash flow of $69.8 million, reflecting an increase of $7.8 million. Blackbaud repurchased 405,047 shares totaling $30 million, with $151 million left under the share buyback program. The company is confident in exceeding its 2021 free cash flow target of $100 million.