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Mar 31, 2020
Blackbaud Q1 2020 Earnings Report
Blackbaud's first quarter results for 2020 were announced, highlighting the company's support for the social economy and a strengthened balance sheet and liquidity position.
Key Takeaways
Blackbaud reported a 3.6% increase in total GAAP revenue to $223.6 million, with GAAP recurring revenue up 3.4%. GAAP net income was $4.6 million, with diluted earnings per share of $0.10. The company took actions to bolster financial strength amid COVID-19 uncertainty, while maintaining focus on customer success and employee well-being.
Total GAAP revenue increased by 3.6% to $223.6 million, with recurring revenue comprising 91.6% of the total.
GAAP income from operations rose significantly, with operating margin increasing by 280 basis points.
GAAP net income was $4.6 million, resulting in diluted earnings per share of $0.10, up $0.12 from prior year.
The company implemented measures to enhance liquidity and financial flexibility in response to COVID-19, including suspending dividends and reducing operating costs.
Blackbaud
Blackbaud
Forward Guidance
Blackbaud took immediate steps to provide additional near-term liquidity and financial flexibility while implementing employee relief measures in light of the COVID-19 pandemic.