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Jun 30, 2021
Blackbaud Q2 2021 Earnings Report
Blackbaud's Q2 2021 financial results were announced, revealing a slight decrease in total GAAP revenue but growth in contractual recurring revenue and significant free cash flow.
Key Takeaways
Blackbaud reported a slight decrease in total GAAP revenue, but saw growth in contractual recurring revenue. The company is making investments in the business, and expects to exceed $100 million in free cash flow for the year, with models suggesting $120-$130 million.
Total GAAP revenue was $229.4 million, a decrease of 1.1%.
GAAP recurring revenue was $217.0 million, up 0.3%.
GAAP net income was $6.7 million, with GAAP diluted earnings per share of $0.14, down $0.10 per share.
Non-GAAP free cash flow was $56.6 million, an increase of $8.4 million.
Blackbaud
Blackbaud
Forward Guidance
Blackbaud expects to exceed $100 million in free cash flow for 2021, with latest models suggesting at least $120 million to $130 million.