Loading...
•
Sep 30, 2024
Blackbaud Q3 2024 Earnings Report
Blackbaud's Q3 2024 financial results were announced, featuring revenue growth and strategic innovation plans.
Key Takeaways
Blackbaud reported a 3.3% increase in GAAP total revenue, reaching $286.7 million, and a 4.3% increase in non-GAAP organic revenue. The company is focused on its operating plan, aiming for balanced revenue growth and improved profitability, and plans to allocate its strong cash flow to benefit stockholders.
GAAP total revenue increased by 3.3% to $286.7 million.
GAAP recurring revenue rose by 4.1% to $280.0 million, representing 98% of total revenue.
GAAP income from operations was $43.8 million, with an operating margin of 15.3%, up by 740 basis points.
The company showcased future AI-powered fundraising and financial management at bbcon 2024, rolling out six waves of innovation.
Revenue by Segment
Forward Guidance
Blackbaud revised its 2024 full year financial guidance, expecting GAAP revenue between $1.150 billion and $1.160 billion, a non-GAAP adjusted EBITDA margin between 33.0% and 34.0%, non-GAAP earnings per share between $3.98 and $4.16, and non-GAAP adjusted free cash flow between $235 million and $245 million.
Positive Outlook
- The company expects GAAP revenue of $1.150 billion to $1.160 billion.
- Non-GAAP adjusted EBITDA margin is projected to be between 33.0% and 34.0%.
- Non-GAAP earnings per share are expected to be between $3.98 and $4.16.
- Non-GAAP adjusted free cash flow is anticipated to be between $235 million and $245 million.
- The company remains committed to its stock repurchase program.
Challenges Ahead
- The revision of the FY24 guide is a direct result of continued underperformance of EVERFI.
- GAAP net cash provided by operating activities decreased by $24.0 million.
- Non-GAAP free cash flow decreased by $22.3 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...