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

News Market Reaction

+5.12%

2 alerts

+5.12% News Effect

+$142M Valuation Impact

$2.91B Market Cap

0.1x Rel. Volume

On the day this news was published, BLKB gained 5.12%, reflecting a notable positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $142M to the company's valuation, bringing the market cap to $2.91B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Repurchase capacity: $1 billion Prior capacity: $800 million Shares repurchased 2025: 2,707,953 shares +5 more

8 metrics

Repurchase capacity $1 billion Total stock repurchase capacity after reauthorization and expansion

Prior capacity $800 million Previous limit of stock repurchase program before expansion

Shares repurchased 2025 2,707,953 shares Aggregate repurchases during 2025 prior to Dec 1 replenishment

2025 repurchase spend $174.5 million Cash used to repurchase shares during 2025 before replenishment

Outstanding reduction more than 10% Decrease in common stock outstanding since Q4 2023 start of program

2025 repurchase done 6.7% Portion of outstanding common stock as of Dec 31, 2024 already repurchased (incl. net settlements)

Expected 2025 repurchases 7.0%–8.5% Fiscal year 2025 expected repurchase range vs Dec 31, 2024 outstanding

Remaining authorization $1 billion Amount available to purchase stock under repurchase program as of Dec 1, 2025

Market Reality Check

Price: $55.48 Vol: Volume 322,403 is about i...

normal vol

$55.48 Last Close

Volume Volume 322,403 is about in line with recent activity at a relative level of 0.86x the 20-day average. normal

Technical Price at $62.37 is trading below the 200-day MA of $63.40 and about 23.9% under the 52-week high.

Peers on Argus

Peers show mixed, mostly modest moves, with INTA, NCNO, BL and VERX up between 0...

Peers show mixed, mostly modest moves, with INTA, NCNO, BL and VERX up between 0.04% and 0.82%, while BRZE is down 3.43%, suggesting this announcement is more stock-specific than sector-driven.

Historical Context

5 past events · Latest: Dec 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 02	AI partnership launch	Positive	+5.1%	Anthropic partnership to embed purpose-built AI fundraising tools for nonprofits.
Dec 02	Buyback expansion	Positive	+5.1%	Stock repurchase capacity raised from $800M to $1B and higher 2025 buyback plans.
Dec 02	Buyback correction	Positive	+5.1%	Clarified details of the expanded $1.0B repurchase authorization and expected 2025 range.
Dec 01	Brand visibility event	Positive	+1.8%	Nasdaq bell ringing showcasing GivingTuesday tools and notable customer fundraising wins.
Nov 24	AI product briefing	Positive	-2.9%	Bi-annual briefing unveiling AI-driven product innovations and intelligent workflows.

Pattern Detected

Recent news has generally seen positive price reactions, particularly around AI initiatives and capital return, with one AI product update drawing a negative response.

Recent Company History

Over the past few weeks, Blackbaud has combined strategic product updates with capital return actions. AI-focused announcements on Nov 24, 2025 and the partnership with Anthropic on Dec 2, 2025 highlighted an expanding intelligent workflow and fundraising roadmap. Simultaneously, the company reauthorized and expanded its stock repurchase program to $1.0 billion, after prior buybacks and GivingTuesday-related visibility at Nasdaq. This announcement fits into that pattern of pairing operational and platform enhancements with shareholder-focused capital allocation.

Market Pulse Summary

The stock moved +5.1% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +5.1% in the session following this news. A strong positive reaction aligns with the company’s clearly articulated capital return strategy. Management expanded repurchase capacity to $1 billion, after buying back 2,707,953 shares for $174.5 million in 2025 and reducing shares outstanding by more than 10% since 2023. Historical news flow often drew favorable responses, though prior insider net selling and the concentration of recent gains around news events could introduce volatility if expectations shift.

Key Terms

stock repurchase program, non-GAAP EPS, net share settlement, outstanding common stock, +1 more

5 terms

stock repurchase program financial

"has reauthorized, expanded and replenished the company's existing stock repurchase program"

A stock repurchase program is when a company buys back its own shares from the market. This can make each remaining share more valuable and shows that the company believes its stock is a good investment. It’s like a business treating its shares like a limited resource, hoping to boost confidence and share prices.

non-GAAP EPS financial

"deliver consistent mid-single-digit organic revenue growth and double-digit non-GAAP EPS growth"

Non-GAAP EPS is a measure of a company's profit per share that excludes certain expenses or income items that are included in standard accounting reports. It is used by investors to get a clearer picture of the company's core performance, much like removing one-time costs from a personal budget to see regular spending habits. This adjusted figure helps investors compare companies more consistently and understand their ongoing profitability.

net share settlement financial

"Any net share settlement of employee stock compensation is incremental to this program"

Net share settlement is a way of paying for financial transactions using only the difference in shares rather than exchanging full amounts of stock or cash. It’s like settling a debt by giving someone the exact number of shares needed to balance the books, making trades quicker and simpler. This method helps reduce the number of shares changing hands, saving time and costs.

outstanding common stock financial

"these repurchases represent approximately 6.7% of the company's outstanding common stock"

Outstanding common stock represents the total number of shares of a company's basic ownership that are currently held by all shareholders, including individual investors and institutions. It reflects how many pieces of the company are available to be owned, bought, or sold. This figure matters to investors because it influences the company's stock price, voting power, and how its value is divided among shareholders.

Form 8-K regulatory

"Additional details can be found in Blackbaud's Form 8-K filed today"

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. Not financial advice.

$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.