Blackbaud, Inc. - BLKB STOCK NEWS

Blackbaud (NASDAQ: BLKB), a leader in social impact software, has appointed Tom Barth as head of Investor Relations (IR). Barth will report to Tony Boor, EVP and CFO, and will lead a program to maximize shareholder value. Barth brings extensive IR experience from Akamai Technologies, Progress Software, Nuance Communications, and PTC. He also has a significant military background, having served in the U.S. Air Force. Barth aims to enhance Blackbaud's IR program and communicate its strategy and vision effectively to stakeholders.

Blackbaud (NASDAQ: BLKB) released its 2023 Impact Report detailing progress in environmental, social, and governance (ESG) initiatives. Key achievements include maintaining 100% carbon neutrality, reducing global GHG emissions by 92% since 2019, and achieving a 23% energy reduction at its headquarters. The company also reported high employee engagement, with 91% participation in the annual survey and 43% involvement in affinity groups. Additionally, Blackbaud's software fueled significant social impact: over one million fundraising pages created, 19 million donations made, and a 21% increase in average gift sizes for nonprofits. The report highlights strong governance with a new Chief Privacy Officer and enhanced cybersecurity measures.

Blackbaud announced a strategic investment in UBIQ Education, innovators in school websites, introducing AMAIS, a digital experience ecosystem for schools. The $5 million investment aims to support K-12 private schools in modernizing their admissions process, fundraising, recruitment, and inclusion initiatives. The partnership will provide Blackbaud customers access to UBIQ's cutting-edge marketing and admissions tools through a native integration, enhancing the Total School Solution. UBIQ's mission is to democratize data for schools, enabling data-driven decisions for better outcomes. The collaboration aims to enhance the digital experience for families and school communities.

EVERFI from Blackbaud's Prescription Drug Safety course has been certified as meeting ESSA standards, showing a positive impact on students' knowledge of safe prescription drug use. The course helps increase personal responsibility, accurate perceptions of social norms, knowledge of prescriptions, refusal skills, and decreases likelihood of future prescription drug abuse actions.

The Blackbaud Institute released a new report, 'Gen Z at the Table,' revealing that 84% of Gen Zers support nonprofit organizations, charities, or causes in some way. The report provides insights into Gen Z philanthropic behavior, indicating a potential increase in financial donations and emphasizing the importance of trust, impact assurance, convenience, and workplace giving and volunteering. The report aims to guide professionals in effectively engaging with Gen Z donors.

Blackbaud held its Semi-Annual Product Update Briefings, unveiling hundreds of product updates and sharing roadmaps for key products, emphasizing the integration of AI to drive social impact. The company showcased enhancements for Blackbaud Raiser's Edge NXT® and Blackbaud Financial Edge NXT®. Blackbaud CRM™ will feature a new user interface in 2025, with improved accessibility and security. Updates for K-12 Education Solutions and Corporate Impact Solutions were also highlighted.

Blackbaud, a leading provider of software for social impact, announced strong 2024 Q1 results, with total revenue up 6.7% to $279.3 million and GAAP recurring revenue up 7.4% to $271.5 million. The company made progress in profitability, repurchased 5.5% of outstanding stock, and expects to achieve the Rule of 40 for the year. Non-GAAP metrics showed growth across the board, with adjusted EBITDA up 31.8% to $88.9 million. Recent highlights include share repurchases, innovation in fundraising software, a new credit facility, and success in charity fundraising events.