Blackbaud Inc Stock Price, News & Analysis

Blackbaud (NASDAQ: BLKB) has appointed Chris Singh as the first Chief Customer Officer, effective June 21, 2022. This role underscores Blackbaud's commitment to enhancing customer experience across their lifecycle. Singh previously served as senior vice president of Customer Success, facilitating over 300 customer sessions with 53,000 attendees. He aims to improve customer engagement and strategic outcomes. His prior experience includes senior leadership roles at SAP, focusing on customer success and satisfaction. Blackbaud's mission is to empower social good organizations through cloud software.

Blackbaud (NASDAQ: BLKB) launched its annual Developers' Conference on June 7, 2022, focusing on innovation within nonprofit technology. The event emphasizes the low-code movement, enabling nonprofits to enhance their operations through accessible technology. Key announcements include investments in the SKY API® and new self-service tools for customers. Over 50% of sessions will be customer-led, showcasing real-world applications and best practices. The conference aims to empower social good organizations through enhanced technology solutions and foster a creative community.

Blackbaud has launched Prospect Insights, an AI-driven tool integrated into Raiser's Edge NXT, aimed at enhancing fundraising efforts for social good organizations. This innovation enables users to identify and prioritize major donor prospects effectively without the need for additional staff. Notably, 20% of donor households contribute 80% of total fundraising revenue. Prospect Insights automates donor evaluation and prescribes actionable insights, streamlining the major gift fundraising process for smaller and mid-sized organizations.

The Blackbaud Institute is celebrating a decade of its charitable giving index, which tracks over $40 billion in U.S. donations from 8,400 organizations. To mark this milestone, the Institute will host a series of free virtual 'fireside chats' featuring industry leaders, discussing key trends in philanthropy. Upcoming topics include donor engagement and direct marketing strategies. Blackbaud aims to provide valuable insights to help nonprofit leaders navigate changes in giving patterns influenced by the pandemic and rising inflation.

Blackbaud (NASDAQ: BLKB) has released its 2021 Social Responsibility Report, highlighting key achievements in supporting the social good community, employee diversity, and environmental responsibility. In 2021, Blackbaud supported nearly 150,000 organizations globally, achieved carbon neutrality, and increased its Partner Network by 43%. Additionally, 55% of new hires came from historically underrepresented groups. Despite challenges from the pandemic, Blackbaud enhanced its commitment to data privacy, engaged employees actively in volunteer efforts, and reported a 95% customer satisfaction rating.

Blackbaud (NASDAQ: BLKB), a leader in cloud software for social good, announced its participation in six investor events from May to June 2022. Key executives will represent the company, including Tony Boor, CFO, and Mike Gianoni, CEO. The schedule includes virtual meetings hosted by Raymond James and participation in renowned conferences like the J.P. Morgan Global Technology, Media and Communications Conference and the Baird Global Consumer, Technology and Services Conference. For further details, visit investor.blackbaud.com.

Blackbaud (NASDAQ: BLKB) reported a 17.3% increase in total revenue for Q1 2022, reaching $257.1 million, with recurring revenue up 18.3%. Organic recurring revenue grew by 6.6%. However, the company faced a GAAP operating loss of $6.0 million and a net loss of $10.4 million. Despite this, Blackbaud remains confident in achieving its full-year financial guidance, projecting non-GAAP revenue between $1.075 billion and $1.095 billion. The company also highlighted its commitment to ESG goals and a significant acquisition with EVERFI.

Blackbaud (NASDAQ: BLKB) announces the appointment of Charles "Chuck" Miller as Chief Information Security Officer. With over 25 years of experience in cybersecurity, Miller will enhance Blackbaud's global trust and security program. His previous roles include senior vice president of cybersecurity at Truist and SunTrust. Blackbaud has doubled its cybersecurity team in the past two years and emphasizes adherence to industry best practices. Miller holds a master's degree from Northwestern University and multiple security certifications, aiming to strengthen data protection for Blackbaud's customers.

Blackbaud (NASDAQ: BLKB) will report its first quarter 2022 financial results on May 3 after U.S. market close. A conference call will follow on May 4 at 8:00 a.m. ET to discuss the results. As the leading cloud software company focused on social good, Blackbaud provides solutions for various sectors, including nonprofits and education. The company, based in Charleston, SC, has operated for over 40 years, offering a range of services that include fundraising, CRM, and financial management, tailored to the unique needs of its clients.