Blackbaud, Inc. - BLKB STOCK NEWS

Blackbaud, Inc. (NASDAQ: BLKB) announced an update regarding its third-quarter earnings call, which had to be postponed due to a network outage affecting the conference call provider. The company will reschedule the call if the issue isn't resolved by 9:00 a.m. ET. Blackbaud has been a leader in cloud software for the social good sector, providing tailored solutions for various organizations, including nonprofits and educational institutions.

Blackbaud (NASDAQ: BLKB) reported its Q3 2020 financial results, revealing a 2.8% decline in total GAAP revenue to $215.0 million. Recurring revenue decreased by 2.5%, accounting for 93.1% of total revenue. Despite revenue pressures, GAAP operating margin improved by 110 basis points to 4.7%. Non-GAAP income from operations rose to $48.1 million, with a margin increase of 590 basis points to 22.4%. The company is focused on profitability amid ongoing pandemic challenges and has invested in engineering and security. Recent highlights include completing the purchase of its headquarters and launching new products.

Blackbaud (NASDAQ: BLKB) is enhancing support for organizations during the COVID-19 pandemic with its solutions Blackbaud Grantmaking and Blackbaud CRM. These tools streamline grant management and fundraising efforts, enabling swift response to urgent needs. The Lutheran Church—Missouri Synod effectively utilized these solutions, awarding nearly 600 grants by June 2020, significantly increasing their grant output. Their initial fundraising appeal yielded $35,000 in one day and over $1.5 million in six months, reflecting heightened generosity during the crisis.

On October 23, 2020, Blackbaud (NASDAQ: BLKB) announced enhancements to its Peer-to-Peer Fundraising solution, integrating livestream capabilities to support organizations facing fundraising challenges due to COVID-19. This no-cost solution allows organizations to create online campaigns that increase reach and revenue. The Stuttering Association for the Young successfully raised nearly $250,000 through a virtual event, showcasing Blackbaud's technology's effectiveness. The platform facilitates seamless integration with other Blackbaud solutions, driving more donations from both new and existing donors.

Blackbaud (NASDAQ: BLKB) has released a report indicating that COVID-19 has significantly altered parent expectations in K-12 education. Based on a survey of 7,450 parents, key findings include high satisfaction levels with remote learning (85%) and increased expectations for technology use in schools. Notably, 54% expect all learning resources to be online, and 85% show interest in competency-based education. However, one in five families considered changing schools, indicating disruption in typical enrollment trends. This shift in expectations signals a lasting impact on educational technology adoption.

Blackbaud (NASDAQ: BLKB) will announce its third quarter 2020 financial results on October 28 after market closure. A conference call for discussion will be held on October 29 at 8:00 a.m. ET. The call will be accessible via webcast and archived on Blackbaud's investor webpage.

Blackbaud, the leading cloud software provider for social good, serves various sectors, including nonprofits and education. With over three decades in operation, Blackbaud continues to empower organizations with tailored software solutions.

Blackbaud (NASDAQ: BLKB) successfully hosted its 21st annual bbcon, a virtual tech conference from October 6-8, 2020, attracting over 38,000 registrants globally. The event highlighted new product innovations and featured notable speakers discussing resilience and social good. Blackbaud reinforced its collaboration with Microsoft to enhance digital transformation in the social good sector. Key advancements included updates to existing products and the introduction of the Social Good Startup Program aimed at supporting diverse startups. The conference underscored Blackbaud's commitment to innovation amidst COVID-19 challenges.

The Blackbaud Institute has released Vital Signs Part 3, revealing that fewer US households are contributing to charitable donations, with major donors increasingly controlling the sector’s funding. The report, which spans data from 2010-2019, indicates a decline in both the number of donor households and their retention rates. The findings emphasize the need for organizations to adapt fundraising strategies to maintain donor engagement and to consider the preferences of the Baby Boomer demographic, who significantly influence philanthropy today.

Blackbaud (NASDAQ: BLKB) announced that Emmy-nominated host Padma Lakshmi will speak at bbcon 2020 Virtual from Oct. 6-8, 2020. The event, free to attendees, focuses on social good amid COVID-19. Lakshmi is recognized for her advocacy and culinary expertise, hosting Bravo's "Top Chef" and Hulu's "Taste the Nation." Blackbaud reported over 29,000 registered participants for the conference, featuring speakers like Amy Poehler and Dr. Cornel West. Additionally, a musical performance by JOHNNYSWIM will occur during the event, enhancing its appeal to the social good community.