Blackbaud Inc Stock Price, News & Analysis

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.

Blackbaud (NASDAQ: BLKB) has appointed Sudip Datta as senior vice president and chief product officer. Reporting to executive vice president Kevin McDearis, Datta will oversee the company's global product portfolio. With 25 years of experience, including leadership roles at Broadcom and Oracle, Datta aims to enhance growth and innovation within Blackbaud's product strategy. His background emphasizes technology-driven transformation, which is expected to strengthen Blackbaud's mission to drive social good.

Blackbaud (NASDAQ: BLKB) reports on how its customers have mobilized to provide humanitarian aid for Ukraine since the conflict began on February 24. Through Blackbaud's technology, nonprofits and individuals have raised over $55 million for Ukraine-related causes, with significant contributions from organizations like CARE and Direct Relief. Additionally, many Fortune 500 companies have utilized Blackbaud's CSR solutions to support relief efforts, resulting in almost $12 million raised through employee donations across 70 countries.

The Blackbaud Institute has launched the SDG Connector, a new tool designed to assist social good organizations in aligning their missions with the United Nations Sustainable Development Goals (SDGs). This open-source resource, developed in partnership with Candid and the Council on Foundations, allows nonprofits and grantmakers to clearly communicate their goals and measure progress. It employs established taxonomies to connect organizational activities to global SDG targets. This initiative aims to enhance collaboration and strategic philanthropy within the social good community.

KCA Wealth Management has partnered with EVERFI to enhance financial literacy among students in Central Pennsylvania, donating $30,000 to support local schools. This initiative coincides with National Financial Literacy Month and aims to equip students with essential financial skills. The EVERFI curriculum includes various courses for different age groups, focusing on budgeting, entrepreneurship, and financial decision-making. Founder Brian Kennedy emphasizes the importance of teaching these skills early to foster sound financial habits. Interested parties can contact KCA for further information.