Blackbaud Announces Reauthorized, Expanded and Replenished

Rhea-AI Summary

Blackbaud (NASDAQ: BLKB) announced that its board has reauthorized, expanded and replenished the company's stock repurchase program, raising total repurchase capacity from $800 million to $1 billion.

The company said it has reduced common shares outstanding by more than 10% since the program began in Q4 2023 and repurchased 2,707,953 shares for $174.5 million during 2025 prior to the December 1 replenishment, representing approximately 6.7% of outstanding common stock as of December 31, 2024 (including net share settlement of employee stock compensation). Blackbaud now expects 2025 repurchases of 7.0%–8.5% of outstanding common stock as of December 31, 2024. Additional details are in the company's Form 8-K filed with the SEC.

Positive

• Repurchase capacity increased from $800M to $1B
• Shares reduced >10% since Q4 2023
• 2025 expected repurchases of 7.0%–8.5% of outstanding shares

Negative

• Repurchases during 2025 prior to replenishment totaled $174.5M for 2,707,953 shares
• Net share settlement of employee stock compensation is incremental to the program

Insights

Capital Allocation Strategist

Blackbaud expanded its buyback to $1 billion and raised 2025 repurchase expectations, signaling continued share-return focus.

Blackbaud increased its repurchase authorization from $800 million to $1 billion and reported year-to-date 2025 purchases of 2,707,953 shares for $174.5 million, equal to about 6.7% of outstanding shares as of December 31, 2024. The company now expects to repurchase between 7.0% and 8.5% of those outstanding shares in fiscal 2025, and the board stated repurchases remain a key part of capital allocation while targeting mid-single-digit organic revenue growth and double-digit non-GAAP EPS growth.

The action reduces share count mechanically and directly supports per-share metrics when executed; management frames repurchases as driven by current valuation. Key dependencies are execution pace and available program capacity: the filing notes net share settlements of employee compensation are incremental to the program and that the remaining capacity as of December 1, 2025 was $1 billion. Watch near-term repurchase cadence versus the stated 7.0%-8.5% target for 2025, the Form 8-K details, and whether repurchases align with the company’s stated growth and EPS objectives over the coming year.

$1 Billion Stock Repurchase Program and Increased Stock Repurchase Expectations for 2025

CHARLESTON, S.C., Dec. 2, 2025 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today announced its board of directors has reauthorized, expanded and replenished the company's existing stock repurchase program, raising the total capacity from $800 million to $1 billion available for repurchases of the company's common stock.

"We believe there is no better use of capital at this time than repurchasing shares at this valuation to improve shareholder value," said Mike Gianoni, president, CEO and vice chairman of the board of directors, Blackbaud. "Since instituting our current stock repurchase program in the fourth quarter of 2023, we have reduced our common stock outstanding by more than 10%. We expect stock repurchase to remain a key component of our long-term capital allocation strategy as we look to deliver consistent mid-single-digit organic revenue growth and double-digit non-GAAP EPS growth moving forward."

Under the program, the company may repurchase shares of its common stock in the open market, through private transactions, or otherwise. Any net share settlement of employee stock compensation is incremental to this program. During 2025, prior to the replenishment on December 1, 2025, Blackbaud repurchased an aggregate of 2,707,953 shares for

$174.5 million. Including net share settlement of employee stock compensation, these repurchases represent approximately 6.7% of the company's outstanding common stock as of December 31, 2024. Based on current market valuations, Blackbaud has increased its fiscal year 2025 expected stock repurchase range to between 7.0% and 8.5% of its outstanding common stock as of December 31, 2024. As of December 1, 2025, the remaining amount available to purchase stock under the company's repurchase program was $1 billion.

Additional details can be found in Blackbaud's Form 8-K filed today with the Securities and Exchange Commission. 

About Blackbaud
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud's essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud's solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica, India and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.

Media Inquiries
media@blackbaud.com 

Investor Contact
IR@blackbaud.com 

Forward-looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Blackbaud's investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.

 

 

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SOURCE Blackbaud

FAQ

What did Blackbaud (BLKB) announce about its stock repurchase program on December 2, 2025?

Blackbaud reauthorized and expanded its repurchase program, increasing capacity to $1 billion and replenishing available funds.

How many shares did Blackbaud (BLKB) repurchase in 2025 before the December 1 replenishment?

Blackbaud repurchased 2,707,953 shares for $174.5 million during 2025 prior to the replenishment.

What percentage of outstanding stock does Blackbaud (BLKB) expect to repurchase in fiscal 2025?

The company increased its 2025 expected repurchase range to 7.0%–8.5% of outstanding common stock as of December 31, 2024.

How much has Blackbaud (BLKB) reduced its shares outstanding since the program began?

Blackbaud says it has reduced common stock outstanding by more than 10% since instituting the repurchase program in Q4 2023.

Will employee stock compensation settlements affect Blackbaud's (BLKB) repurchases?

Yes; the company noted that net share settlement of employee stock compensation is incremental to the repurchase program.