Blackbaud Inc Stock Price, News & Analysis

Blackbaud (NASDAQ: BLKB) and Microsoft (NASDAQ: MSFT) have announced plans to enhance their offerings for the nonprofit and education markets. Blackbaud will integrate Microsoft AI and analytics into its purpose-built software for social impact organizations. Key points include:

1. Integration of Microsoft Fabric™ to enable new capabilities like comprehensive productivity dashboards.
2. Leveraging Microsoft Azure OpenAI Service and Microsoft Fabric within Blackbaud solutions.
3. Blackbaud Financial Edge NXT® will soon use Microsoft Azure AI Document Intelligence for invoice and receipt scanning automation.
4. Microsoft is the presenting sponsor of bbcon 2024, Blackbaud's annual tech conference.

This collaboration aims to help social impact organizations accelerate their impact through innovative technology solutions.

EVERFI from Blackbaud is releasing new and updated K-12 digital resources for the 2024-25 school year. Key updates include:

• Enhanced EVERFI: Financial Literacy for High School program with expanded learning objectives and increased accessibility
• Updated Marketplaces: Investing Basics resource with new content on working with financial advisors
• Tax Simulation: Understanding Taxes now available as a standalone resource
• New Healthier Me: Intro to Wellness program aligned with National Health Education Standards
• Addition of a fifth lesson to 306: Black History – Continuing the Story focusing on nonviolent resistance

New platform features include a Financial Literacy Collection, program lock/unlock feature, and Google Single Sign-On integration.

Blackbaud (NASDAQ: BLKB) reported strong Q2 2024 results, with revenue growth of 6.0% year-over-year to $287.3 million. GAAP recurring revenue increased 7.2% to $281.4 million, representing 98% of total revenue. The company saw significant profitability improvements, with GAAP operating margin expanding 1,460 basis points to 14.7%. Non-GAAP adjusted EBITDA grew to $102.5 million, with margin increasing 290 basis points to 35.7%.

Notably, Blackbaud's board approved an expanded $800 million stock repurchase authorization. The company reiterated its full-year 2024 guidance, projecting revenue between $1.164-$1.194 billion and non-GAAP adjusted EBITDA margin of 32.5-33.5%.

Blackbaud (NASDAQ: BLKB) has announced the integration of Microsoft Azure OpenAI Service and Microsoft Power BI into its Blackbaud Impact Edge™ solution. This enhancement aims to improve performance, scalability, and reporting capabilities for corporate customers tracking their social impact initiatives. The integration includes:

1. Power BI Embedded for better data visualization and dashboard stability
2. Blackbaud Copilot, a generative-AI chatbot for content generation
3. Enhanced security features and AI capabilities

The availability of Blackbaud Impact Edge has begun with select customers, with general availability scheduled for Q4 2024. Future updates will include alignment with global standards like UN SDGs and Community Reinvestment Act.

Blackbaud Institute's new CSR Industry Review spotlight report reveals significant shifts in corporate social impact practices for 2023. Key findings include:

1. In-person volunteering increased to 87% of all hours, up 21% from 2021.
2. Small companies (1-1000 employees) led with a 40% volunteering engagement rate.
3. U.S.-based employees showed higher giving engagement (12%) compared to global employees (3%).
4. International grantmaking rose, with nearly 20% of grant dollars awarded to charities outside the U.S.

The report, based on data from 412 companies across 104 countries, highlights the growing importance of corporate social responsibility programs and employee engagement in philanthropic activities.

Blackbaud (NASDAQ: BLKB) has announced the July 2024 cohort for its Social Good Startup Program, a tech accelerator supporting early-stage software companies in the social impact sector. The program aims to extend Blackbaud's solutions and maximize impact for nonprofits, schools, and socially responsible companies.

The cohort includes six innovative startups:

• Arbor: AI-powered storytelling platform
• Chat2Impact: Digital assistant chatbot for charities
• Giving Compass: AI-powered donor education platform
• LifeWeb 360: Digital space for sharing memories and tributes
• Ribon: Employee engagement tool for corporate donations
• Your Mission Possible: Project management tool for nonprofit fundraising

These startups offer solutions ranging from AI-powered fundraising and content tools to digital assistant chatbots, aiming to bring innovative technology to the social impact sector.

Blackbaud (NASDAQ: BLKB), a leading software provider for social impact, has announced a significant expansion of its stock repurchase program. The board of directors has increased the total capacity from $500 million to $800 million for repurchasing the company's common stock. CEO Mike Gianoni emphasized that repurchasing shares at the current valuation is the best use of capital to enhance shareholder value.

In the first half of 2024, Blackbaud repurchased 2,954,211 shares for $262.6 million, representing about 5.5% of outstanding common stock as of December 31, 2023. The company's strong profitability, improving cash flows, and available debt capacity support this expanded repurchase strategy, which is expected to continue for the foreseeable future.

Blackbaud (NASDAQ: BLKB) has introduced new features to its Blackbaud Grantmaking software, aimed at streamlining the grant application process for both funders and applicants. The updates include:

1. A new applicant-centric portal allowing users to manage applications across multiple funders using Blackbaud ID.

2. An AI-powered form builder with conditional logic and translation capabilities for over 25 languages.

These enhancements are designed to improve accessibility, reduce administrative burdens, and facilitate better communication between funders and applicants. The new features are now available to existing Blackbaud Grantmaking customers as part of their subscription.

Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, has announced that it will release its second quarter 2024 financial results on Tuesday, July 30, after the U.S. financial markets close. The company will host a conference call to discuss these results on Wednesday, July 31, at 8:00 a.m. ET.

Investors and interested parties can access the live webcast of the conference call through Blackbaud's investor webpage. Additionally, a live dial-in option is available at 1-877-407-3088. The webcast will be archived on the company's investor webpage for future reference.