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Mar 31, 2021
Blackbaud Q1 2021 Earnings Report
Blackbaud's first quarter performance was strong, positioning the company well for a successful year, driven by strength in online payments and recurring revenue streams, with accelerated investments in digital marketing, engineering, security and customer success.
Key Takeaways
Blackbaud announced strong first quarter results with increased cash flow from operations. The company is optimistic about the year ahead and is accelerating investments in key areas like digital marketing, engineering, security and customer success.
Total GAAP revenue was $219.2 million, down 2.0%, with GAAP recurring revenue of $206.8 million, up 0.9%.
Non-GAAP income from operations was $47.2 million, with non-GAAP operating margin of 21.5%, an increase of 630 basis points.
GAAP net loss was $0.2 million, with GAAP diluted earnings per share of $0.00, down $0.10 per share.
Non-GAAP free cash flow was $17.3 million, an increase of $55.6 million.
Blackbaud
Blackbaud
Forward Guidance
Blackbaud sees significant growth opportunities ahead and has heightened confidence they may have upside to their best estimate for 2021. Trends seen at the start of the year combined with favorable foreign exchange rates significantly reduces the likelihood of their downside revenue scenario.