Blackbaud Inc Stock Price, News & Analysis

Blackbaud (NASDAQ: BLKB) has announced the sale of its EVERFI Inc. business to an unaffiliated private investment firm for a nominal amount, with the transaction closing on December 31, 2024. The company plans to provide additional details in its upcoming Form 10-K filing.

The company is working with the buyer and EVERFI leadership to ensure a smooth transition for customers and employees. EVERFI will continue to provide educational courses focusing on financial literacy, wellness, compliance, and workplace training. Blackbaud will retain its YourCause® portfolio and Impact Edge™ solution, which remain central to its strategy in supporting corporate impact initiatives.

Blackbaud (NASDAQ: BLKB), a leading social impact software provider, has detailed its 2024 corporate philanthropy initiatives. The company's major contributions included supporting Crisis Text Line's international expansion, continuing multi-year commitments to organizations like the International African American Museum, and maintaining workforce development programs that benefited 6,200 youth.

Throughout the year, Blackbaud organized over 125 employer-led volunteer opportunities and distributed more than 135 grants across 95 cities in five countries. The company's 25th annual global toy drive continued its tradition, with employees having donated over 136,500 toys historically. Additionally, Blackbaud provided disaster relief donations globally and contributed to digital inclusion by donating 150 laptops through Human-I-T.

Blackbaud (NASDAQ: BLKB) has won the 2024 HRO Today Association Award in the Diversity, Equity and Inclusion (DEI) Excellence category for large markets. The company's commitment to inclusion is fundamental to its culture, focusing on employee authenticity and belonging through education and collaboration.

Under the leadership of Maggie Driscoll, Chief People and Culture Officer, and Stephanie Walker, VP of Talent Acquisition and Inclusion, Blackbaud has implemented comprehensive initiatives including:

• Global training programs and policies supporting employee value and connection
• Virtual collaboration emphasis promoting flexible work culture
• Integrated approach to talent acquisition, inclusion, and social responsibility
• Strong internship program building an inclusive talent pipeline

The company's success is reflected in high participation rates in affinity groups and positive onboarding experiences, demonstrating effective implementation of their DEI strategies.

Blackbaud (NASDAQ: BLKB) announced it will record a material pre-tax noncash impairment charge of up to approximately $415 million for its EVERFI asset group in Q4 2024. The charge comes as EVERFI has been performing below expectations, leading Blackbaud to consider various alternatives, including a potential divestiture of the business.

CEO Mike Gianoni emphasized that while this noncash charge is necessary for accounting compliance, EVERFI continues to support its customers in social impact initiatives. He also affirmed that Blackbaud's core business remains strong as the company evaluates its long-term strategic approach to EVERFI.

Blackbaud (NASDAQ: BLKB) has appointed Bradley Pyburn, retired Air Force major general and former chief of staff for U.S. Cyber Command, to its board of directors. Pyburn brings over 30 years of cybersecurity and IT experience from his military career spanning 1991-2024.

During his service, Pyburn held key positions including Chief Information Officer of Air Combat Command and Deputy Commander of U.S. Air Force Cyber, managing thousands of personnel and multi-billion-dollar budgets. He led U.S. Cyber Command's first AI strategy implementation in cybersecurity operations.

Pyburn holds multiple advanced degrees, including three Master of Science degrees in National Resource Strategy, Military Studies, and Computer Science.

Blackbaud (NASDAQ: BLKB) has been named to Newsweek's America's Most Responsible Companies 2025 list for the fourth consecutive year, ranking 15th in the Software industry category. The company, which provides software for powering social impact, is among 600 companies recognized for their commitment to positive global impact.

Chief People and Culture Officer Margaret 'Maggie' Driscoll highlighted Blackbaud's dedication to accelerating social impact and driving stakeholder value. The company has advanced its environmental, social, and governance (ESG) priorities, focusing on people and culture, social impact, climate solutions, and data responsibility. Blackbaud is also implementing AI through its Intelligence for Good® initiative.

Additionally, Blackbaud earned recognition on Newsweek's America's Greenest Companies 2025 list and TIME's America's Best Mid-Size Companies 2024 list.

Blackbaud (NASDAQ: BLKB) will ring the Nasdaq closing bell to kick off GivingTuesday, highlighting the importance of the holiday giving season. The company notes that charitable organizations receive approximately 20% of annual donations in December. Through its software solutions, Blackbaud powers social impact organizations worldwide, including the Apollo Theater Foundation, Burger King Foundation, Porter-Gaud School, SiriusXM, and the NHL. The company has introduced new features in its Blackbaud Donation Forms, including Intelligent Ask powered by Blackbaud AI and an optimized donation form with goal meter functionality, aimed at improving fundraising efficiency and donor experience.

EVERFI from Blackbaud announced major updates to its EVERFI Achieve product, a financial education tool designed for banks and credit unions. The enhanced platform features a mobile-first design, personalized content, and new Learner Pathways focused on debt repayment and emergency savings. According to an August 2024 survey, over 70% of adults feel stressed about financial decisions, with only 20% confident in their knowledge.

The platform now includes more than 100 topics, with 13 new resources covering areas like home equity loans and social security benefits. Two new Learner Pathways help users create customized plans for debt management and emergency savings, responding to statistics showing 77% of Americans are anxious about finances and 58% lack separate emergency funds.

Blackbaud (NASDAQ: BLKB) is hosting its semi-annual Product Update Briefings virtually from Nov. 12-15, showcasing recent innovations and future roadmap direction for its software suite. The briefings highlight key advancements in AI technology and six waves of innovation announced at bbcon 2024. Key updates include transformational user experience enhancements for Raiser's Edge NXT, Payment Assistant automation in Financial Edge NXT, new connectivity options for Blackbaud CRM, accelerated corporate donation processing in YourCause, improved data intelligence through LiveRamp partnership, and AI innovations for K-12 solutions.