Blackbaud reports developments in social impact software for nonprofits, foundations, corporations, schools, higher education institutions, healthcare organizations and other mission-driven customers. Company news commonly covers AI-powered fundraising, fund accounting, award management, payments and billing, customer outcomes, product launches and partnerships across its social impact platform.
Recurring updates also include quarterly financial results, guidance, sector research from the Blackbaud Institute, education-market initiatives, and company events such as bbcon. Product and platform themes include Intelligence for Good, Agent for Good, the Development Agent, Raiser's Edge NXT and related tools designed for fundraising, donor engagement, financial management and social impact operations.
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Blackbaud (NASDAQ: BLKB) has partnered with Campaign Monitor to integrate its email marketing solution with Blackbaud Raiser's Edge NXT, aiming to enhance digital engagement for nonprofits. This integration allows for automated email marketing tailored to the needs of social good organizations. Customers can now utilize either Raiser's Edge NXT's native tools or Campaign Monitor. The partnership aims to streamline data syncing and improve campaign performance, thereby increasing fundraising effectiveness.
Blackbaud (NASDAQ: BLKB) reported strong financial results for Q3 2021, achieving a total GAAP revenue of $231.2 million, a 7.5% increase year-over-year. Recurring revenue rose by 9.2%, indicating continued growth in its cloud software services for social good. Non-GAAP income from operations was $50.5 million, with adjusted EBITDA at $62.4 million. The company announced share repurchases totaling $40.3 million and raised its full-year financial outlook, predicting substantial free cash flow generation. Blackbaud continues to invest in innovation and customer success.
The Blackbaud Institute has published a report titled Tipping Point: Aligning with Supporters in a Changing World, highlighting key findings from a survey of over 2,160 nonprofit professionals and donors. Conducted from June 28 to July 23, 2021, the research indicates a shift in donor demographics, showing an increase in younger and more diverse donors. Notably, one-third of new donors are likely to continue their support. The report also emphasizes the importance of personalized donor engagement and the adoption of technology to improve donor satisfaction.
Blackbaud (NASDAQ: BLKB) has officially adopted a remote-first workforce approach following successful operations since the COVID-19 pandemic began. The company reports a 50% increase in job applications and 80% of hires are for remote positions in 2021, enhancing talent acquisition and diversity. Additionally, 40% of employees have progressed in their careers over the past year. The transition aims to reduce environmental impact while maintaining a focus on community involvement and employee well-being.
Blackbaud (NASDAQ: BLKB) has announced a multi-year, six-figure donation to Big Brothers Big Sisters to enhance equity and workforce diversity. This contribution supports the BIG Beyond Scholar Program in Charleston, targeting career and educational readiness for under-resourced youth. Over three years, Blackbaud will assist 25-30 students annually, providing mentorship and internship opportunities. The program aims to share successful strategies with similar organizations globally, reinforcing Blackbaud's commitment to social good and community investment.
Blackbaud (NASDAQ: BLKB), a leader in cloud software for social good, will announce its third quarter 2021 financial results on November 3, post-market closure. A conference call is scheduled for November 4 at 8:00 a.m. ET to discuss these results. Blackbaud serves a diverse social good community, offering a range of solutions, including fundraising and CRM, tailored to various sectors. This upcoming financial report is crucial for investors monitoring the company’s performance amidst ongoing market dynamics.
Blackbaud (NASDAQ: BLKB) successfully held its annual bbcon 2021 Virtual conference, attracting nearly 25,000 registrants. The event highlighted innovations that enhance customer efficiency, including updates to Blackbaud Grantmaking, accounts receivable, and a new Payment Terminal. Notable speakers like Laura Dern and LeVar Burton shared insights on social good and resilience. The company also launched Giving Checkout in the U.S., covering transaction costs for nonprofits. With Blackbaud's commitment to customer support, they unveiled free eLearning resources during the pandemic.