Blackbaud meets earnings estimates with revenue increase, but stock drops significantly

From Nasdaq: 2025-02-19 09:28:00

Blackbaud, Inc. (BLKB) reported fourth-quarter 2024 non-GAAP earnings per share of $1.08, meeting estimates. Revenues increased 2.5% year over year to $302.2 million. Recurring revenues contributed $296.2 million, up 3.1%. EVERFI business sale was announced, contributing $85.5 million in 2024. BLKB’s shares fell 11.2% in response.

Non-GAAP gross margin for BLKB was 60%, with operating expenses rising due to EVERFI charges. Operating loss was $283.2 million. Adjusted EBITDA margin increased to 33.8%. Cash and restricted cash totaled $809.5 million. Operating cash flow was $73.6 million in Q4.

Blackbaud provided guidance for 2025, expecting revenues between $1.115 billion and $1.125 billion. Non-GAAP EPS forecasted at $4.16 to $4.35. Adjusted free cash flow expected to be $185-$195 million. Zacks Rank of #3 (Hold) for BLKB.

Other firms in the Computer-Software industry include Open Text Corporation (OTEX) and Commvault Systems (CVLT) reporting varied results. Microsoft (MSFT) reported earnings of $3.23 per share. OTEX shares have declined 29%, CVLT shares have gained 39%, and MSFT shares have increased by 1.6% over the past year.



Read more at Nasdaq: Blackbaud’s Q4 Earnings Match Estimates, Revenues Rise Y/Y, Stock Down